Better.com Announces Launch of FHA Streamline Refinance Product

Better Mortgage offers FHA Streamline Refinancing with no income verification or appraisal requirements for faster processing

NEW YORK--(BUSINESS WIRE)-- Better Home & Finance Holding Company (NASDAQ: BETR) (“Better.com”), the leading digital homeownership company, today announced the launch of its FHA Streamline Refinance program. This fully digital refinance option is designed to streamline the process for qualified borrowers with an existing Federal Housing Administration (FHA) loan interested in lowering their monthly mortgage payment, reducing their interest rate, shortening their loan term, or getting out of an adjustable-rate mortgage.

FHA loans, backed by the Federal Housing Administration, are specifically designed to assist borrowers who may not qualify for conventional loans due to lower credit scores, limited credit history, or higher debt-to-income and loan-to-value ratios. With potential interest rate reductions on the horizon, the FHA Streamline program empowers FHA borrowers to refinance their mortgage and take advantage of more favorable interest rate terms with ease by reducing underwriting requirements for income verifications and appraisals.

“As we look ahead with optimism to a more favorable interest rate environment, we are enabling hardworking homeowners – each with their own unique path to upward financial mobility – to capitalize on advantageous loan terms with greater ease and convenience,” said Vishal Garg, CEO & Founder of Better.com. “With this launch, we are reducing the traditional barriers that exist for FHA borrowers and delivering flexible financing solutions at a timely moment for consumers across the country.”

With several fully digital mortgage products announced in 2024 including Better Mortgage’s One Day HELOC ™, Home Equity Loans, and VA Loans, today’s launch strengthens the company’s growing suite of homeownership solutions and its continued commitment to building consumer-oriented products across market cycles. To apply, please visit Better.com.

*Eligibility for the FHA Streamline Refinance program requires that the existing FHA loan is current, and insured, and the property is a primary residence that is not listed for sale. All qualifications will adhere to HUD’s guidelines.

About Better Home & Finance Holding Company

Since 2017, Better Home & Finance Holding Company (NASDAQ: BETR; BETRW) has leveraged its industry-leading technology platform, Tinman™, to fund more than $100 billion in mortgage volume. Tinman™ allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates and close their loan in as little as three weeks. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage loans. Better launched its "One Day Mortgage" program in January 2023, which allows eligible customers to go from click to Commitment Letter within 24 hours. Better was named Best Online Mortgage Lender by Forbes and Best Mortgage Lender for Affordability by WSJ in 2023, ranked #1 on LinkedIn’s Top Startups List for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. Better serves customers in all 50 US states and the United Kingdom.

For more information, follow @betterdotcom.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240909402844/en/

Nneka Etoniru

better@avenuez.com

Source: Better Home & Finance Holding Company

FAQ

What is Better.com's new FHA Streamline Refinance program?

Better.com's FHA Streamline Refinance program is a fully digital refinance option for qualified borrowers with existing FHA loans. It aims to simplify the refinancing process by eliminating income verification and appraisal requirements, allowing for faster processing.

What are the benefits of Better.com's FHA Streamline Refinance program?

The program allows borrowers to potentially lower monthly payments, reduce interest rates, shorten loan terms, or switch from adjustable-rate mortgages. It also offers a streamlined process with no income verification or appraisal requirements.

When did Better.com (NASDAQ: BETR) launch its FHA Streamline Refinance program?

Better.com announced the launch of its FHA Streamline Refinance program on the date of this press release in 2024.

What other digital mortgage products has Better.com (NASDAQ: BETR) introduced recently?

In addition to the FHA Streamline Refinance program, Better.com has recently introduced digital mortgage products including One Day HELOC™, Home Equity Loans, and VA Loans in 2024.