Better Mortgage Launches One Day HELOC™: Offers Fast Solution to Home Equity Access for Customers

By: Better Home & Finance Holding Company via Business Wire

March 18, 2024 at 09:00 AM EDT

One Day HELOC grants customers approval* decisions in just 24 hours to offer fast and convenient solutions for American homeowners to access home equity

Better Home & Finance Holding Company (NASDAQ: BETR), a leading digital homeownership company, today announced the launch of One Day HELOC (Home Equity Line of Credit) which will provide approval* decisions to consumers within 24 hours of locking their rate.

Speed matters when it comes to customers accessing funds from their home equity — especially as they look to renovate their properties, consolidate debt, or fund a major expense. One-Day HELOC will offer the speed and convenience that customers get from personal loans typically at a lower interest rate.

Building on the success of the One Day Mortgage™, program, which has made it possible for homebuyers to receive a Commitment Letter from Better Mortgage within a 24-hour turnaround time, One Day HELOC will give homeowners who complete their tasks within 4 hours of locking their HELOC rate an approval* decision within 24 hours.

“Whether our customers are interested in investing money into their home with renovations or they want to pay for their children's college tuition at a lower rate than most personal loans, we understand their need to access home equity,” said Vishal Garg, CEO of Better “Speed, convenience and flexibility is at the top of their priority list when they’re ready to tap into the home equity they’ve worked so hard to build. One Day HELOC streamlines the process for customers, providing them with financial flexibility and convenience like never before.”

In today’s fast-paced world, accessing home equity shouldn't be a cumbersome process. The One Day HELOC will empower its customers with the financial tools they need to seize opportunities and achieve their homeownership goals with optimum efficiency. To apply, please visit https://better.com/heloc.

*Better Mortgage’s One Day HELOC promotion offers qualified customers who provide certain required financial information/documentation to Better Mortgage within 4 hours of locking a rate on a HELOC loan the opportunity to receive an underwriting determination from Better Mortgage within 24 hours of their rate lock. The underwriting determination is subject to customary terms, including fraud and anti-money laundering checks, that take place pre-closing and which may trigger additional required documentation from the customer. Better Mortgage does not guarantee that initial underwriting approval will result in final underwriting approval. See One Day Heloc Terms and Conditions.

About Better:

Better is a leading online home finance, insurance, and realty company. In just six years since launch, Better has leveraged Tinman™, its industry-leading technology platform, to fund more than $100 billion in home financing. In addition to being the first fintech to reach this milestone, Better has completed over $4.6 billion in real estate transaction volume through its realtor service Better Real Estate and agent network, as well as over $38 billion in coverage written through its insurance arm, Better Cover and Settlement Services. Better has earned countless awards for its work in making homeownership more affordable and accessible to all Americans. Better was ranked #1 on LinkedIn’s Top Startups List for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. For more information, follow @betterdotcom.