¹ $50,000-$500,000 loan amount at up to 90% of your property’s value. Maximum LTV dependent on borrower eligibility.

² Better Mortgage’s One Day HELOC promotion offers qualified customers who provide certain required financial information/documentation to Better Mortgage within 4 hours of locking a rate on a HELOC loan the opportunity to receive an underwriting determination from Better Mortgage within 24 hours of their rate lock. 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. Better Mortgage does not guarantee that initial underwriting approval will result in final underwriting approval. See One Day Heloc Terms and Conditions.

Assumes borrowers are eligible for the Automated Valuation Model (AVM) to calculate their home value, their loan amount is less than $400,000, all required documents are uploaded to their Better Mortgage online account within 24 hours of application, closing is scheduled for 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.

Better Mortgage's HELOC product is available in all states other than NM, TN, TX, and UT.

Please note that 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 $200,000, you must draw $150,000 or more at funding). If you would like to draw less at funding, you may lower your credit limit.

Better Mortgage's HELOC product requires that you pledge your home as collateral, and you could lose your home if you fail to repay your loan.

HELOC Important Terms