1. Better Mortgage Corporation (“Better Mortgage”) is offering qualified customers (“Customers”) who successfully provide the Required Documents (as defined below) within 4 hours of locking a rate (the “Required Tasks Completion Period”) for their first-lien or second-lien home equity line of credit (the “HELOC Loan”) with Better Mortgage, the eligibility to receive an underwriting determination on their HELOC Loan application within 24 hours of locking a rate on their HELOC Loan (the “Offer”). 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. 

2. Eligibility for the Offer

1. To be eligible for the Offer, Customers are required to provide the following documents to Better Mortgage via their online Customer portal within the Required Tasks Completion Period (collectively, the “Required Documents”):

1. Pay stubs;

2. W2s;

3. Mortgage statements;

4. Bank statements (including any applicable investment and retirement statements); and

5. If applicable, proof of child support or alimony awards.

Failure to provide all Required Documents within the Required Tasks Completion Period may result in a Customer being ineligible for the Offer. The Required Documents may differ based on a Customer’s unique financial condition and HELOC Loan circumstances. 

2. In addition, to be eligible for the Offer, Customers must:

1. Be a U.S. citizen, permanent resident or non-permanent resident (certain visa categories only);

2. Be a W-2 employee or an individual on fixed income (e.g., pension, social security or disability income);

3. Have a representative credit score of above 680; 

4. Not be a fee simple owner or be in the process of becoming a fee simple owner of any additional real property (i.e., must not have, or be in the process of obtaining, all of the rights of ownership, including the right to possess, sell, lease, and enjoy the land) in any state, other than the subject property associated with their HELOC Loan;

5. Meet the requirements to lock a rate, and subsequently lock a rate on their HELOC Loan with Better Mortgage on or after 3/11/2024; and

6. Successfully provide all Required Documents to Better Mortgage within the Required Tasks Completion Period.

3. The Offer is limited to a HELOC Loan for a primary residence, second home or investment property for the following property types:

1. Single family;

2. Condominium;

3. Detached condominium;

4. Highrise condominium;

5. Planned unit development (“PUD”);

6. PUD attached;

7. PUD detached; and

8. Townhouse. 

4. Better Mortgage does not guarantee that by qualifying to become eligible for the Offer that a Customer will receive an underwriting determination within 24 hours of locking a rate on their HELOC Loan. Upon qualifying for the Offer, Better Mortgage will use commercially reasonable efforts to provide a Customer with an underwriting determination within 24 hours of the Customer locking a rate on their HELOC Loan. In addition, Better Mortgage does not guarantee that initial approval in connection with an underwriting determination will result in the final underwriting approval of a Customer’s HELOC Loan. Moreover, Customers will be required to provide additional information and documentation after receiving an initial underwriting determination on their HELOC Loan in order for Better Mortgage to make a final underwriting determination. 

5. The use of self-employment income to meet the debt-to-income (“DTI”) ratio requirements of a HELOC Loan will render a Customer ineligible for the Offer.

6. The Offer is not available in the state of Texas. The Offer is subject to all applicable state laws, and is available in the remaining 49 states and the District of Columbia.

7. Better Mortgage is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

8. BETTER MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Better Mortgage Corporation, 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007. Tel: 888-501-3186, Fax: 408-946-0112, is licensed by the Department of Business Oversight under the California Finance Lender Law License No.6052748 , NMLS # 330511. (www.nmlsconsumeraccess.org)