1Better Mortgage’s HELOC requires that you pledge your home as collateral, and you could lose your home if you fail to repay your loan.
2Assumes borrowers are eligible for the Automated Valuation Model (AVM) to calculate their home value, their loan amount is less than $400,00, all required documents are uploaded to their Better Mortgage online account within 24 hours of application, closing is scheduled fo the earliest available date and time, and a notary is readily available. Funding timelines may vary and may be longer if an appraisal is required to calculate a borrower’s home value.
3See Complete Terms and Conditions for details
4See Better Closing Guarantee Terms and Conditions
HELOC Important Terms
Please note that for HELOC amounts of less than $50,000, you are required to draw the entire amount of your credit limit at funding. For HELOC amounts of $50,000 or higher, you are required to draw at least $50,000 or 75% of your credit limit, whichever is greater, at the time of funding (ex.
If your credit limit is $200,00, you must draw $150,000 or more at funding). If you would like to draw less at funding, you may lower your credit limit.
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Home lending products offered by Better Mortgage Corporation. Better Mortgage Corporation is a direct lender. NMLS #330511. 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007. Loans made or arranged pursuant to a California Finance Lenders Law License. Not available in all states. Equal Housing Lender. NMLS Consumer Access