Home Equity Alternative: Sharing home’s value?

[Eddie Starr]

I'm researching various company options for HELOCs, and came across https://www.patchhomes.com/faq

Here are a few highlights:

We offer a debt free alternative to home equity loans and HELOCs. Our financing contracts are an easy way to cash out your home equity at 0% interest with no monthly payments. In exchange, we share in the future upside or downside of your home’s value.

We are able to offer 0% financing, since in exchange for interest free financing, we receive a percentage of the future home value appreciation. We rely on the future increase of your home value in order to generate a return for our offering.

Generally, our customers will access around 10% to 15% of their home’s value as funds through our solution. We will offer funds upto a maximum of 75% lien to value (LTV) or $150,000.

The initial estimate is free and has no commitments tied to it. Once you complete the final application, we charge a one-time servicing fee of 3% of the requested financing amount before transferring the funds.

In addition to the servicing fees, you are also responsible for the title/escrow charges and home appraisal fees. These are generally around $400 each respectively.

Does this sound like a good HELOC/Equity Loan alternative?