Better HoldCo, Inc. and its affiliates (“Better”), including Better Mortgage Corporation (“Better Mortgage”), are not affiliated with Amazon.com, Inc. and its affiliates (“Amazon”). Mortgage loans, mortgage services, and Equity Unlocker benefits are provided exclusively by Better Mortgage, and are not provided, underwritten, or serviced by Amazon. Amazon is not a lender or broker. This program does not constitute an endorsement, referral or recommendation of Better Mortgage by Amazon.

This is not a commitment to lend, nor a guarantee that you will be approved for a mortgage loan from Better Mortgage. The Program (defined below) may be modified or revoked in whole or in part at any time.

The Equity Unlocker program (the “Program”) is available for mortgage loans on properties located in Arizona, Colorado, Florida, Georgia, Indiana, Kansas, Kentucky, Massachusetts, New Mexico, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, Washington, Wisconsin and West Virginia (the “Eligible States”). This program is subject to all applicable state laws. 

Participation in the Program is limited to current employees of Amazon (“Eligible Employees”), who meet the requirements below, and who start and successfully close on a purchase or refinance mortgage loan (the “Mortgage Loan”) with Better Mortgage.

Customers participating in the Program are eligible to apply for a Mortgage Loan and a personal loan secured by a customer’s Pledged Equity (as defined below) (the “Securities-Based Loan”), which loan shall be issued by Better Mortgage and used to fund the down payment for the Mortgage Loan. Disbursement of the Securities-Based Loan is contingent upon a customer successfully obtaining and closing on the Mortgage Loan. 

To be eligible for the Program, Eligible Employees must:

1. Have a minimum FICO score of 680;
2. Create and access their Better Mortgage account;
3. Have vested equity shares in Amazon with a collateral value equivalent to a 20% down payment amount of their home’s purchase price (equity collateral will be valued at a 50% advance rate);
4. Complete an application for the Mortgage Loan on a primary residence, second home, or investment property located in the Eligible States;
5. For a primary residence or second home, have a Mortgage Loan amount equal to or less than $3 million, or, for an investment property, have a Mortgage Loan amount equal to or less than $2 million;
6. Have their vested equity share quantity confirmed by Better Mortgage; and 
7. Qualify for and successfully close on the Mortgage Loan with Better Mortgage.

The Securities-Based Loan is generally subject to an interest rate of 12% per annum, which may vary depending on current market conditions. 

The Securities-Based Loan is subject to a repayment term of three (3) years. 

Upon closing on the Securities-Based Loan, the vested equity shares an Eligible Employee has pledged as collateral for the Securities-Based Loan (the “Pledged Equity”) may not be sold, repledged, or subject to other liens until one of the following conditions has been met:

1. Repayment of the Securities-Based Loan; or
2. Refinance of the Securities-Based Loan. 

If you default on your Securities-Based Loan, Better Mortgage can force the sale of the Pledged Equity in order to satisfy your obligations without contacting you. If you default on your Securities-Based Loan, Better Mortgage can take control of the Pledged Equity without contacting you. While subject to these terms and conditions, the Pledged Equity may change in value, and you may lose any/all appreciation of value in the Pledged Equity. If the Pledged Equity is exchanged for cash or securities of another party with the consent of Better Mortgage, Better Mortgage has a right to those proceeds. If the Pledged Equity is exchanged for cash or securities of another party without the consent of Better Mortgage, Better Mortgage may, at its sole option, foreclose on those proceeds. 

You may incur adverse tax consequences if your securities are sold in connection with a foreclosure upon the Pledged Equity. If you default (stop making your monthly payments) on your Securities-Based Loan, you could lose the Pledged Equity. Nothing in these terms and conditions is intended to constitute a representation that any investment strategy or that any product is suitable for you. You should consider carefully whether any products and strategies discussed are suitable for your needs, and to obtain additional information prior to making a decision. Nothing in these terms and conditions shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by Better Mortgage and/or its affiliates, officers, or employees irrespective of whether or not such communication was given at your request. Better Mortgage is not acting or registered as a securities broker-dealer or investment advisor. 

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.

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)