Unlock Technologies, a home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, have secured a $100 million revolving credit facility led by Texas Capital Bank. The revolving credit facility will provide Saluda Grade with additional capital to purchase home equity agreement (HEA) contracts to serve the growing needs of its HEA investments.

“Unlock is the industry’s fastest-growing shared equity platform. Since our founding in 2020, we’ve built a next-generation product and helped more than 4,500 homeowners tap into their home equity,” Jim Riccitelli, CEO and co-founder of Unlock, said. “We were the first HEA company to increase home equity access for consumers who had less-than-perfect credit or had debt-to-income constraints. We’re excited to partner with Texas Capital as we begin our next stage of growth.”

The $100 million credit facility l”d by’Texas Capital represents Saluda Grade’s second financing of home equity agreement investments.

“We strive to provide clients with unique capital solutions, particularly given Texas Capital’s dedication to being the first call for leading clients in our covered industries,” Daniel Hoverman, head of corporate and investment banking at Texas Capital, said. “This credit facility enables both Saluda Grade and Unlock to grow their platforms and meet demand from investors.”

“We continue to see unparalleled excitement around home equity agreements and shared equity products on both the consumer and investor sides,” Ryan Craft, CEO of Saluda Grade, said. “Unlock’s HEA provides a streamlined approach to accessing home equity in an uncertain economy where consumers continue to grapple with high interest rates and limited availability of mortgage products.”