Equity Unlocker™
A new benefit to set your company apart
Curious if Equity Unlocker is a good fit for your company? Email partnerships@better.com.
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Give employees more ways to mortgage
Your employees decide how many shares they want to pledge toward their home. They can always use a mix of shares and cash toward a down payment—it doesn't need to be one or the other.
Want more details? Check out our FAQ below!
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“It’s a benefit to employees.”
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Why employees love
Equity Unlocker™
$0 cash down
Employees don’t liquidate their shares for a down payment. Instead, they keep stock in their company AND build equity in a new home.
Grow with your company
Employee shares are pledged, not sold so employee can profit from their company’s success. If shares drop in value, the terms of their mortgage still stay the same.
$0 capital gains tax 1
Employees pledging their shares as collateral is not a taxable event. Selling them is. Employees can keep more of their hard-earned money by leveraging shares instead of selling them.
For all kinds of homes
The Equity Unlocker™ program isn’t just for primary residences. Employees can use it to buy a vacation home or even an investment property.
“We built the Better Equity Unlocker exclusively for Amazon employees, so it specifically fits your needs.
In today’s market, we understand how hard it can be to buy a home, so this new tool allows you to maximize your options.”
Vishal Garg, founder and CEO of Better
How it works
Get pre-approved
Get an official pre-approval letter online with Better Mortgage, see your estimated share value, and get connected with your Home Advisor.
Validate your shares
Your Home Advisor will confirm how many vested, exercised Amazon shares you have, as well as their collateral value.
Choose your loan
While we’re processing your financials, our team will reach out to you to finalize loan terms and get you ready for closing.
Close and pledge your shares
At closing, you’ll get your keys, and your shares will be pledged as collateral. You won’t be able to sell your shares until the mortgage principal is paid in full, or you refinance. There's also an option to sell your shares if the proceeds would pay down a percentage of the principal.
How it works
for employees
- 1
Get pre-approved
Employees get an official pre-approval letter in minutes with Better Mortgage, see their estimated share value, and get connected with a Loan Consultant.
2
Validate shares
Your employees' Better Mortgage Loan Consultants will confirm how many shares they have.
3
Choose loan
While we're processing your employee’s financials, our team will reach out to them to finalize their mortgage loan terms and securities-based loan terms and to get them ready for Closing.
4
Close and pledge shares
At Closing, your employee will get their keys, and their shares will be pledged as collateral. They won’t be able to sell their shares until the mortgage principal is paid in full, or they refinance. There's also an option to sell their shares if the proceeds would pay down a percentage of the principal.
¹See Equity Unlocker Terms and Conditions for complete details. The Equity Unlocker program is available for the purchase of real properties located in NY, WA, and FL. Better Mortgage and its affiliates do not provide financial, accounting, legal, or tax advice. You should consult your own advisors before engaging in any transaction.
²For example, a 30-year, fixed-rate purchase loan of $500,000 with an interest rate of 7.625% / (7.904% Annual Percentage Rate- APR) will have 360 monthly principal and interest payments of $3538.97. Payments shown do not include taxes and insurance. Actual payments will be higher. This is based on the following assumptions: borrower with an average credit score (i.e., FICO score of 680 or higher). The loan will have 100% LTV and will require an equivalent of 20% of the loan amount in pledged vested shares; subject property is a Single Family Residence; subject property is borrower’s primary residence. Mortgage rates are based on current market conditions and change daily. Actual rates may vary. All mortgage loan products are subject to credit and property approval. Rates, terms, and conditions are subject to change without notice. Products are not available in all states. Other restrictions and limitations may apply.
FAQs
Equity Unlocker Terms and Conditions
See all FAQs
Frequently asked questions
How do I understand what this is and if it’s a good product for me?
Experiment with the calculator above to help understand how much equity you will need to pledge and how much home you can afford. Pre-approval takes a few minutes and then you can discuss specifics directly with your expert Home Advisor.How is this different from what Better Mortgage offers me today?
With Equity Unlocker you can pledge vested equity toward the down payment on a new home. With a standard Better Mortgage, cash must be used as the down payment. To cover the down payment, you will have your equity valued at a 50% advance rate, meaning if you have $250,000 in vested Amazon stock, you can pledge that equity to cover $100,000 toward the down payment ($250,000 x 40% = $100,000). You also have the option to subsidize the value of pledged equity with cash toward a down payment.What is the interest rate and terms of the Equity Unlocker mortgage?
The interest rate for an Equity Unlocker mortgage will be 1.50-3.00% higher than the daily Fannie Mae mortgage rate, depending on the terms of the mortgage loan (15 year fixed, 30 year fixed, ARM etc.)How is this different from what my bank offers me today?
For a mortgage, your bank likely requires you to use cash as a down payment. If your bank offers margin loans, those are likely daily mark-to-market, meaning if the value of your equity declines, you would be obligated to pledge more shares toward the loan as collateral. You may have to liquidate your equity, put up more cash, or forcibly sell your home if the stock price drops enough. With Equity Unlocker you can get a home without doing any of those things.Does this affect my relationship with my employer in any way?
Nope! Your home and your mortgage belong to you. There is no impact from leaving or changing your job.What does it mean to “pledge” shares of my vested equity?
A share pledge means that the shares are held, in your name, as collateral against a loan. Those shares can remain at your brokerage house or custodian, you’ll simply have to get the custodian to sign a document during closing to acknowledge the pledge. Those shares are your property and yours to sell at any time to pay down the mortgage. All additional proceeds from the sale of equity are yours to keep.What information do you need from my broker in order to provide me with a recommendation about the appropriateness of Equity Unlocker for my situation?
You will be required to submit brokerage statements illustrating sufficient vested equity shares to be pledged. Your expert Loan Consultant will be able to talk you through your options based on your specific needs and financial situation. Visit better.com/equityunlocker/amazon today to get started.What data are you collecting from me and what will it be used for?
We ask for the same information that is required when you apply for a traditional mortgage and utilize the utmost in data security protections throughout the process. We will never sell your data.How long does the whole process take?
Once your equity is verified, the average closing time for a Better mortgage is 10 days faster than the industry average, typically 30-40 days.How much does this cost? And what fees are associated with the offering?
Closing costs for a mortgage typically range from 2-5% of the amount of the loan. Better never charges additional lender fees or commissions.