Better launched a fully digital zero-down VA loan program designed to expedite and simplify the buying process for veterans.
Better Mortgage VA Loans offers home loans for up to 100% of the purchase price of a primary residence, with no down payment required. The company says they will be 40 bps cheaper than traditional VA loans.
It is available to eligible US Veterans, service members, and National Guard and Reserve members in all 50 states. In some cases, veterans’ spouses may also qualify.
“Better has brought the traditional mortgage into the digital era, launching our 1 Day Mortgage Product and funding over $100 billion of fully digital mortgages. With Better’s VA Loans, we are opening the door for even more…
Better.com announced a fully digital home equity line of credit (HELOC) offering, enabling homeowners to access cash through their equity completely online.
Better says customers can be approved in twenty-four hours or less and close in as little as three days.
The HELOCs are available for primary, secondary, and investment homes, with a maximum $500,000 line of credit and up to 90% of the property value. The product offers a number of benefits over traditional products, including a simple application process, immediate pre-approval, no unnecessary fees, and the ability to keep the existing mortgage rate and pay interest only on what is withdrawn.
“Better’s digital HELOC offerings are a game changer for customers seeking flexibility during a difficult economic climate,”…
Just a few weeks after Better.com announced its One Day Mortgage product, Guaranteed Rate is trying to speed things up further with Same Day Mortgage.
Same Day Mortgage promises a loan approval in less than 24 hours, which Guaranteed Rate calls an “industry first.”
“Guaranteed Rate is known for revolutionizing the mortgage industry and making the home buying process easier – innovations like the first-ever digital mortgage that we launched in 2015,” said Guaranteed Rate President and Chief Executive Officer, Victor Ciardelli.
“Today we’re changing the game again with Same Day Mortgage. Customers expect services to be fast and easy, Same Day Mortgage delivers exactly that with cutting-edge technology and a totally efficient process.”
The program was tested with a…
Better.com has launched a new product for employees with vested equity in their companies.
The program, Equity Unlocker, is designed for potential buyers who work and have vested equity they cannot access. It is currently just available for Amazon employees in Florida, New York, and Washington state, but Better is planning to extend it to 26 more states in Q2 2023.
Equity Unlockers allows these buyers to finance their homes without selling their shares. Instead, they can pledge their shares rather than sell them in order to afford a home. Amazon shares will be valued at the same time as a home appraisal. The rate and term will then be locked on Better.com.
It is non-mark-to-market and non-recourse, so the…
Better.com is starting 2023 with a product leaders there think will revolutionize the industry: a mortgage application with a one-day turnaround.
Better announced the launch of its One Day Mortgage in a press release. The company says its customers can get pre-approved, lock in a rate, and get a Mortgage Commitment Letter completely online and within 24 hours.
“We spent the first seven years bringing the mortgage industry into the digital era, and executing over $100 billion of fully digital online mortgages. Better’s offerings serve to kickstart the slow, opaque, and costly homeownership process. With One Day Mortgage, Better is revolutionizing the mortgage industry once again by empowering its customers, making it not only cheaper, but also faster and easier…
Multiple new executives have joined Better.com to bolster its leadership team and forge long-term growth, the company announced in a press release. Better’s biggest pulls are Sushil Sharma as Chief Growth Officer, the first for the company, and Steve Riddell as Head of Sales. Sharma is an industry veteran with two decades of experience in product management and software engineering. Prior to Better, he served as Chief Product Officer at both LendingTree and Match. “Better’s mission to make homeownership simpler, faster, and more affordable instantly drew me in,” said Sharma. “A home is much more than a place to live: it provides stability to raise a family and is one of the biggest financial assets an individual can own. I…
Good Morning! Today is Monday, April 11. Pittsburgh Steelers quarterback Dwayne Haskins was killed by a dump truck while trying to cross a highway on foot in South Florida. Biden will announce a new firearm regulation Monday meant to contain the use of privately made weapons. Elon Musk has decided not to join the board of Twitter. The Mortgage Note Reports Office Space Vacancies: Writer Chuck Green reports that office vacancy rates are being monitored closely as the commercial space industry continues to grapple with COVID’s effects on the workplace. Vacation Home Demand: Second-home demand fell for a second straight month as rising rates and increased fees deter buyers. Better Loses Another Exec: Better.com CTO Diane Yu is stepping back…
Better.com is losing another C-suite executive in the wake of its controversial layoffs. Chief Technology Officer Diane Yu is stepping back into an advisory role, TechCrunch reported after obtaining an internal memo circulated at the company. The memo states that the move gives Yu “more flexibility to spend more time with her family and additional time in Hong Kong.” It is signed by Better’s infamous CEO Vishal Garg. Better.com has seen rapid turnover of execs after firing 900 employees on a Zoom call last December. Garg told the employees that they were “part of the unlucky group that is being laid off,” and that their employment was “terminated effective immediately.” The employees were then locked out of their work computers.…
Good Morning! Today is Thursday, January 20. President Biden suggested he would break up his climate and social spending bill to improve the chances of passage. Senate Democrats failed to alter the filibuster to pass voting legislation, with Joe Manchin and Kyrsten Sinema voting with Republicans. Starbucks rescinded its vaccination requirement after the Supreme Court struck down Biden’s mandate. And in mortgage and housing news… Loan Applications Surge: Mortgage loan application volume rose 2.3% from last week, MBA’s weekly survey reported. Acceleration In Full Swing: Monthly home value appreciation accelerated for the first time since July as potential buyers continue to outnumber new listings, driving December inventory to an all-time low. New Home Purchase Apps Down: Mortgage applications for new…
Good Morning! Today is Monday, December 13. At least 90 people are dead after tornadoes leveled 250 miles across six states. Stock buybacks hit a record $234.5 billion in Q3 as companies responded to pandemic hardship. Chris Wallace is leaving Fox News to join CNN. And in mortgage and housing news… Reality Check: There will be more houses on the market in 2022 because of the number of people who have died due to COVID-19 and its variants, a sobering reality was highlighted during the National Association of Real Estate Editors conference in Miami, Fla., last week. Mortgage Credit Down: Mortgage credit availability shrank in November, falling by 0.6% to 124.9, according to MBA’s Mortgage Credit Availability Index. OCC Reports…
