Business
Better Launches Home Equity Loans: Offers Flexible Solutions to Homeowners Interested in Accessing Home Equity as Cash
Adding onto their digital home equity product suite, Better Mortgage will now offer Better Home Equity Loans which allows homeowners to access up to 90% of
About this update from Better Home & Finance Holding Company
[{"type":"text","content":"\nAdding onto their digital home equity product suite, Better Mortgage will now offer Better Home Equity Loans which allows homeowners to access up to 90% of their home equity with a fixed APR\n\n\n NEW YORK--(BUSINESS WIRE)--\nBetter Home & Finance Holding Company (NASDAQ: BETR), the leading digital homeownership company, today announces the launch of Better Home Equity Loan, the latest addition to its suite of digital home equity products including a cash-out refinance and HELOC. The addition of this fully digital offering enables qualified homebuyers to access up to 90% of their home equity as cash at a fixed annual percentage rate (APR) in a total of 30 states to date, with the remaining states being on-boarded to the program.\n\n\nIn today’s volatile interest rate environment, Better Mortgage’s Home Equity Loan product empowers US homeowners with an additional option to choose a home equity product that fits their financial needs. The Better Home Equity Loan may allow for more predictability, flexibility and stability in homeowners financing options by tapping into their home equity with a fixed interest rate. With a robust suite of digital mortgage and home equity products, this launch supports Better’s customers with tailored homeownership solutions that meet the needs of their specific financial goals.\n\n\n“Across market cycles, access to home financing is not a one-size-fits-all approach,” said Vishal Garg, CEO & Founder of Better. “Every Better customer has their own unique path to upward financial mobility. With this launch, Better is equipping hardworking homebuyers with the ability to tap into their home equity to invest in their future at interest rates which are far lower than those of credit cards and personal installment loans. We’re proud to continue delivering flexible financing solutions that make homeownership faster, cheaper and easier for our customers.”\n\n\nIn March 2024, Better launched its One Day Home Equity Line of Credit (HELOC)™ product, offering its customers who complete their tasks within 4 hours of locking their HELOC rate an approval* decision for funding within 24 hours. Better Home Equity Loan represents the next step to unlocking the next chapter of growth for Better with its growing suite of digital home equity product solutions.\n\n\nWith Better Home Equity Loan, Better Mortgage will len...