Product offers "speed, convenience and flexibility," says CEO
Better Mortgage has announced the launch of a new home equity line of credit (HELOC) service that promises to deliver approval decisions within 24 hours of rate lock-in.
One Day HELOC is the company’s response to demand for “speed, convenience and flexibility” among customers looking to leverage their home equity, according to CEO Vishal Garg.
In a news release, Garg said the offering aims to streamline the HELOC process and ensure “financial flexibility and convenience like never before.”
“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,” he said.
The launch of One Day HELOC comes after Better Mortgage introduced its One Day Mortgage program, which allows homebuyers to obtain a commitment letter within a 24-hour period.
Last year, the company also introduced the Better Equity Unlocker. The product was designed for Amazon employees who have vested equity and want to finance their homes without selling their shares.
In February of this year, Better launched a digital VA loan program that enables qualified veterans to secure a home loan for up to 100% of their purchase price with no required down payment.
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