HEI Facts.com

State

Home equity investments in Minnesota

2 of the six major home equity investment providers operate in Minnesota. Minnesota has no HEI-specific law in effect yet, but we've confirmed related state activity below.

Providers operating in Minnesota

2 of the six major providers say they operate in Minnesota. Availability can vary by county.

  • Pointup to 30-year term · cost cap 18% a year · about 14.3% a year in our standard example
  • Unisonup to 30-year term · no published cost cap · about 14.7% a year in our standard example

Provider lists come from each provider's own availability page. All states.

See how these providers' costs change with home prices in the 2026 study.

Laws, rules, and reports

We found no HEI-specific law, regulation, or state report in Minnesota. General state lending and consumer protection laws still apply.

Enforcement and court cases

MinnesotaEnforcementSettledAnnounced August 7, 2026

Minnesota attorney general settlement with Unlock

The attorney general's office investigated Unlock for entering into mortgage loans without complying with Minnesota law. Unlock denied the allegations but settled.

  • From 2021 through 2023, Unlock entered into approximately 86 "home equity agreements" in Minnesota.
  • Unlock agreed to $944,626 in monetary and debt relief: $201,050 in direct refunds, an estimated $460,000 in debt relief, and $283,576 for further restitution.
  • Unlock agreed not to enter new agreements unless licensed by the Minnesota Department of Commerce, and to follow the state's Mortgage Originator and Servicer Licensing Act, including its rate caps.

Sources: Minnesota Attorney General press release

Bills

We found no pending HEI bill in Minnesota.

HELOC denials in Minnesota

In 2025, lenders denied 27.3% of the 23,120 HELOC applications they decided in Minnesota (national: 32.9%). Most common first reason: debt-to-income ratio. See the full HELOC denial data.

HELOCs by metro area in Minnesota

Minneapolis, MN-WI (28% denied) · Duluth, MN-WI (25% denied) · Rochester, MN (22% denied) · St. Cloud, MN (27% denied)

See reasons and rates for each metro area.

Federal activity

2 federal items pending that would apply in every state: Home Equity Lending Integrity Act (S. 4803), Shared Home Appreciation for Residential Equity Act (H.R. 8116).

Before you sign in Minnesota

  1. Check the company's license at NMLS Consumer Access.
  2. Ask for the settlement amount at 0%, 4%, and 8% yearly appreciation, and for when you might settle.
  3. Convert each offer to an effective yearly cost and compare it with a HELOC or home equity loan.

Reference information, not legal advice. Know of something we're missing in Minnesota? Tell us.