Token-Backed Mortgage Program Closing Cost Credits Offer – Terms and Conditions

Better Home & Finance Holding Company and its affiliates (“Better”), including Better Mortgage Corporation (“Better Mortgage”), are not affiliated with Coinbase, Inc. or its affiliates (“Coinbase”) or any cryptocurrency issuer, protocol or any other exchange.

Mortgage services and program benefits are provided exclusively by Better Mortgage and are not provided, underwritten, or serviced by Coinbase or any other digital asset platform. Coinbase is not a mortgage lender or mortgage broker. This program does not constitute an endorsement, referral, or recommendation of Better Mortgage by Coinbase or any digital asset provider.

This is not a commitment to lend, nor a guarantee that you will be approved for a mortgage loan. All loans are subject to credit approval, underwriting, and applicable law.

This promotional offer (the “Offer”) may be modified, revoked, or discontinued in whole or in part at any time without notice.

1. The Token-Backed Mortgage Program

The Token-Backed Mortgage Program (the “Program”) is a program that allows qualified customers to pledge as collateral a subordinate lien in residential real estate, and certain digital assets (“Eligible Tokens”), in order to obtain financing for a cash downpayment (the “Downpayment Loan”) in connection with obtaining a residential purchase mortgage loan to acquire such residential real estate (the “Token-Backed Mortgage Loan”).

2. The Offer

Eligible customers participating in the Program may receive closing cost credits in the amount of one percent (1.00%) of the principal balance of the Downpayment Loan and one percent (1.00%) of the principal balance of the Token-Backed Mortgage Loan, subject to the restrictions set forth in Section 3 below and to applicable Federal and State law.

3. Restrictions

The total closing cost credits available under this Offer are capped at ten thousand dollars ($10,000) in aggregate per customer.

The amount of closing cost credits applied to a loan cannot be greater than that loan’s total closing costs. 

4. Application of Credits

• Closing cost credits will be applied at closing toward eligible closing costs associated with each loan.
• Closing cost credits may not be applied to all fees, including, but not limited to, prepaid items, taxes, insurance, or other non-lender costs.

Closing cost credits:

• Have no cash value
• Are not refundable; and
• Cannot be transferred or applied outside the applicable loan transaction.

5. Eligibility Requirements

To qualify for this Offer, customers must:

1. Meet all eligibility requirements of the Token-Backed Mortgage Program
2. Satisfy all underwriting requirements, including credit, income, asset, and property criteria;
3. Provide sufficient eligible collateral as required under the Program; and
4. Successfully close on the applicable loans with Better Mortgage.

Not all applicants will qualify for the Offer or the maximum credit amount.

6. Pricing and Rate Considerations

The availability and amount of closing cost credits may vary based on:

• Interest rate selected;
• Loan structure;
• Borrower profile; and
• Market conditions.

Closing cost credits do not necessarily reduce the overall cost of borrowing.

7. Program Interaction and Risk Disclosure

Participation in the Program involves pledging Eligible Tokens as collateral, which may be subject to significant market volatility.

Closing cost credits:

• Do not reduce collateral requirements;
• Do not reduce risks associated with pledging Eligible Tokens; and
• Do not protect against liquidation or loss of pledged assets.

8. Timing and Conditions

• Closing cost credits are applied at closing and are contingent upon successful loan closing.
• If a loan does not close, no closing cost credits will be provided.
• This Offer may not be combined with other promotions.

9. Taxes and Financial Considerations

Closing cost credits may have tax implications.

Better Mortgage does not provide tax, accounting, legal, or financial advice. Customers should consult their own advisors.

10. No Guarantee of Approval or Terms

Receipt of closing cost credits is contingent upon loan approval and closing.

Loan terms, rates, and availability of credits are subject to change without notice.

11. General Conditions

Better Mortgage reserves the right to:

- determine eligibility for this Offer in its sole discretion;

- interpret and apply these Terms and Conditions; and

- modify or terminate this Offer at any time.

12. Equal Housing Lender

Better Mortgage Corporation is an Equal Housing Lender and does not discriminate in lending.

13. Licensing and Disclosures

Better Mortgage Corporation, NMLS #330511

www.nmlsconsumeraccess.org

Rates, terms, and conditions are subject to change. Products are not available in all states.