HEI Facts.com

State

Home equity investments in Washington

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

Providers operating in Washington

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

  • Pointup to 30-year term · cost cap 18% a year · about 14.3% a year in our standard example
  • Spliteroup to 30-year term · cost cap 17.99% a year · about 15.9% 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

WashingtonReportIssuedPhase one report September 12, 2024

Washington DFI inquiry into home equity sharing agreements

Washington's Department of Financial Institutions opened an inquiry into home equity sharing agreements in 2024 and issued the first phase of its report on September 12, 2024.

  • Nine providers responded to DFI's request for information about their origination, servicing, contract terms, disclosures, and calculations.
  • DFI worked with the University of Washington's Evans School of Public Policy and Governance on a second phase.

Sources: DFI press release, September 12, 2024 · Phase one report (PDF)

Enforcement and court cases

WashingtonCourt caseVacatedRuling August 2025; vacated October 17, 2025

Olson v. Unison Agreement Corp. (U.S. Court of Appeals for the Ninth Circuit)

In August 2025 a Ninth Circuit panel, in an unpublished decision, held that Unison's agreement met Washington's definition of a reverse mortgage and revived the homeowners' consumer protection claims. After the parties settled, the court on October 17, 2025 granted their request to dismiss and vacated its August judgment, so the ruling does not stand as precedent.

The later dismissal and vacatur are as reported by HousingWire.


Sources: Ninth Circuit memorandum, August 2025 (PDF, via plaintiffs' counsel) · HousingWire: appeals court throws curve ball secondary

Bills

WashingtonBillDid not advanceNo committee action, February 21, 2025

Washington HB 1464 would have licensed home equity sharing agreement originators

Would have required home equity sharing agreement (HESA) originators to be licensed by the Department of Financial Institutions by July 1, 2026.

  • Would have capped the annualized cost of an agreement at 25%, required at least 10% beginning equity, and given homeowners three business days to rescind.
  • The House Consumer Protection & Business Committee took no action on February 21, 2025. We found no record of enactment.

Sources: House bill analysis (Consumer Protection & Business Committee) · Washington Legislature: HB 1464

HELOC denials in Washington

In 2025, lenders denied 32.1% of the 48,211 HELOC applications they decided in Washington (national: 32.9%). Most common first reason: debt-to-income ratio. See the full HELOC denial data.

HELOCs by metro area in Washington

Seattle, WA (31% denied) · Everett, WA (31% denied) · Tacoma, WA (34% denied) · Spokane, WA (32% denied) · Olympia, WA (30% denied) · Bremerton, WA (31% denied) · Kennewick, WA (38% denied) · Bellingham, WA (29% denied) · Longview, WA (28% denied) · Yakima, WA (43% denied) · Mount Vernon, WA (33% denied) · Wenatchee, WA (38% 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 Washington

  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 Washington? Tell us.