Better.com Becomes the Fastest-Growing Digital Home Equity Lending Provider — Scales Home Equity Product Growth to $60M Per Month
Better Home & Finance Holding Company (NASDAQ: BETR) has announced a significant growth in its Home Equity Line of Credit (HELOC) and Home Equity Loan (HELOAN) business. The company scaled its loan volume from $15 million per month in January 2024 to $60 million per month by October 2024, marking a 400% increase. This growth positions Better as the fastest-growing digital home equity lender in the market.
Better's strategic diversification of its lending volume through home equity products helps homeowners access fast and flexible lending solutions. The implementation of Betsy™, their AI loan assistant, has significantly reduced response times and increased operational efficiency. Strategic partnerships with mortgage brokers and lenders have also contributed to the growth, allowing these partners to leverage Better’s technology and capital.
Better's home equity products, including the One Day HELOC™, offer rapid underwriting approval within 24 hours. Expanded underwriting criteria have made these products accessible to a wider range of homeowners, including those with second homes, self-employed individuals, and small business owners.
CEO Vishal Garg emphasized the importance of speed, ease, and efficiency in accessing home equity, highlighting the company's commitment to providing a seamless, tech-driven borrowing experience.
Better Home & Finance Holding Company (NASDAQ: BETR) ha annunciato una crescita significativa nel suo business di Linee di Credito su Equità Immobiliare (HELOC) e Prestiti su Equità Immobiliare (HELOAN). L'azienda ha aumentato il volume dei prestiti da 15 milioni di dollari al mese a gennaio 2024 a 60 milioni di dollari al mese entro ottobre 2024, segnando un incremento del 400%. Questa crescita posiziona Better come il prestatore di equità immobiliare digitale in più rapida espansione sul mercato.
La diversificazione strategica del volume di prestiti di Better attraverso prodotti di equità immobiliare aiuta i proprietari di casa ad accedere a soluzioni di prestito rapide e flessibili. L'implementazione di Betsy™, il loro assistente AI per i prestiti, ha notevolmente ridotto i tempi di risposta e aumentato l'efficienza operativa. Le partnership strategiche con broker ipotecari e prestatori hanno anche contribuito alla crescita, consentendo a questi partner di sfruttare la tecnologia e il capitale di Better.
I prodotti di equità immobiliare di Better, tra cui il One Day HELOC™, offrono approvazione rapida per la sottoscrizione entro 24 ore. I criteri di sottoscrizione ampliati hanno reso questi prodotti accessibili a una gamma più ampia di proprietari di casa, inclusi coloro con seconde case, lavoratori autonomi e piccoli imprenditori.
Il CEO Vishal Garg ha sottolineato l'importanza della velocità, della facilità e dell'efficienza nell'accesso all'equità immobiliare, evidenziando l'impegno dell'azienda a fornire un'esperienza di prestito fluida e guidata dalla tecnologia.
Better Home & Finance Holding Company (NASDAQ: BETR) ha anunciado un crecimiento significativo en su negocio de Líneas de Crédito sobre el Patrimonio de la Vivienda (HELOC) y Préstamos sobre el Patrimonio de la Vivienda (HELOAN). La compañía aumentó su volumen de préstamos de 15 millones de dólares al mes en enero de 2024 a 60 millones de dólares al mes para octubre de 2024, marcando un incremento del 400%. Este crecimiento posiciona a Better como el prestamista digital de patrimonio de vivienda de más rápido crecimiento en el mercado.
La diversificación estratégica del volumen de préstamos de Better a través de productos de patrimonio de vivienda ayuda a los propietarios a acceder a soluciones de préstamo rápidas y flexibles. La implementación de Betsy™, su asistente de préstamos basado en IA, ha reducido significativamente los tiempos de respuesta y aumentado la eficiencia operativa. Las asociaciones estratégicas con corredores de hipotecas y prestamistas también han contribuido al crecimiento, permitiendo a estos socios aprovechar la tecnología y el capital de Better.
Los productos de patrimonio de vivienda de Better, incluido el One Day HELOC™, ofrecen aprobación rápida de suscripción en 24 horas. Los criterios de suscripción ampliados han hecho que estos productos sean accesibles a una gama más amplia de propietarios de viviendas, incluidos aquellos con segundas viviendas, trabajadores autónomos y pequeños empresarios.
El CEO Vishal Garg enfatizó la importancia de la velocidad, la facilidad y la eficiencia en el acceso al patrimonio de la vivienda, destacando el compromiso de la compañía de proporcionar una experiencia de préstamo fluida y impulsada por la tecnología.
Better Home & Finance Holding Company (NASDAQ: BETR)는 주택 자산 신용 한도(HELOC) 및 주택 자산 대출(HELOAN) 비즈니스에서 상당한 성장을 발표했습니다. 이 회사는 2024년 1월 월 1,500만 달러에서 2024년 10월에는 월 6,000만 달러로 대출 규모를 확대하여 400%의 증가를 기록했습니다. 이 성장은 Better를 시장에서 가장 빠르게 성장하는 디지털 주택 자산 대출업체로 자리매김하게 합니다.
Better는 주택 자산 상품을 통해 대출 규모를 전략적으로 다각화하여 주택 소유자들이 빠르고 유연한 대출 솔루션에 접근할 수 있도록 돕습니다. AI 대출 보조 도구인 Betsy™의 도입으로 응답 시간과 운영 효율성이 크게 향상되었습니다. 주택 담보 대출 중개인 및 대출 기관과의 전략적 파트너십도 성장에 기여하여 이러한 파트너들이 Better의 기술과 자본을 활용할 수 있게 했습니다.
Better의 주택 자산 상품, 특히 One Day HELOC™는 24시간 이내에 신속한 심사를 제공합니다. 확대된 심사 기준 덕분에 이 제품은 두 번째 주택 소유자, 자영업자 및 소규모 비즈니스 소유자를 포함하여 더 넓은 범위의 주택 소유자가 이용할 수 있게 되었습니다.
CEO 비샬 가르그는 주택 자산에 접근하는 데 있어 속도, 용이성 및 효율성의 중요성을 강조하며, 원활하고 기술 중심의 대출 경험을 제공하겠다는 회사의 의지를 강조했습니다.
Better Home & Finance Holding Company (NASDAQ: BETR) a annoncé une croissance significative de son activité de Ligne de Crédit sur Équité Immobilière (HELOC) et de Prêt sur Équité Immobilière (HELOAN). L'entreprise a augmenté son volume de prêts de 15 millions de dollars par mois en janvier 2024 à 60 millions de dollars par mois d'ici octobre 2024, marquant une augmentation de 400%. Cette croissance positionne Better comme le prêteur numérique en équité immobilière à la croissance la plus rapide sur le marché.
La diversification stratégique du volume de prêts de Better à travers des produits d'équité immobilière aide les propriétaires à accéder à des solutions de prêt rapides et flexibles. L'implémentation de Betsy™, leur assistant de prêt AI, a considérablement réduit les temps de réponse et augmenté l'efficacité opérationnelle. Les partenariats stratégiques avec des courtiers hypothécaires et des prêteurs ont également contribué à la croissance, permettant à ces partenaires de tirer parti de la technologie et du capital de Better.
Les produits d'équité immobilière de Better, y compris le One Day HELOC™, offrent une approbation rapide de la souscription en 24 heures. Des critères de souscription élargis ont permis à ces produits d'être accessibles à un plus large éventail de propriétaires, y compris ceux ayant des résidences secondaires, des travailleurs indépendants et des propriétaires de petites entreprises.
Le PDG Vishal Garg a souligné l'importance de la rapidité, de la facilité et de l'efficacité dans l'accès à l'équité immobilière, mettant en avant l'engagement de l'entreprise à fournir une expérience d'emprunt fluide et axée sur la technologie.
Better Home & Finance Holding Company (NASDAQ: BETR) hat ein signifikantes Wachstum in ihrem Geschäft mit Eigenheimkrediten (HELOC) und Eigenheimdarlehen (HELOAN) angekündigt. Das Unternehmen hat sein Kreditvolumen von 15 Millionen Dollar pro Monat im Januar 2024 auf 60 Millionen Dollar pro Monat bis Oktober 2024 gesteigert, was einem Anstieg von 400% entspricht. Dieses Wachstum positioniert Better als den am schnellsten wachsenden digitalen Eigenheimkreditgeber auf dem Markt.
Die strategische Diversifizierung des Kreditvolumens von Better durch Eigenheimprodukte hilft Hausbesitzern, schnell und flexibel auf Kreditlösungen zuzugreifen. Die Implementierung von Betsy™, ihrem KI-Darlehensassistenten, hat die Reaktionszeiten erheblich verkürzt und die Betriebseffizienz erhöht. Strategische Partnerschaften mit Hypothekenmaklern und Kreditgebern haben ebenfalls zum Wachstum beigetragen, indem sie diesen Partnern ermöglichten, die Technologie und das Kapital von Better zu nutzen.
Die Eigenheimprodukte von Better, einschließlich des One Day HELOC™, bieten eine schnelle Genehmigung innerhalb von 24 Stunden. Erweiterte Zulassungskriterien haben diese Produkte für eine breitere Palette von Hausbesitzern zugänglich gemacht, einschließlich solcher mit Zweitwohnungen, Selbständigen und kleinen Geschäftsinhabern.
CEO Vishal Garg betonte die Bedeutung von Geschwindigkeit, Einfachheit und Effizienz beim Zugang zu Eigenheimkrediten und hob das Engagement des Unternehmens hervor, eine nahtlose, technologiegestützte Kreditaufnahmeerfahrung zu bieten.
- Loan volume increased by 400% from $15 million to $60 million per month.
- Positioned as the fastest-growing digital home equity lender.
- Implementation of AI loan assistant Betsy™ reduced response times from hours to seconds.
- Strategic partnerships with mortgage brokers and lenders.
- Expanded underwriting criteria to include second homes, self-employed individuals, and small business owners.
- None.
Insights
Better.com's strategic expansion into home equity lending marks a significant pivot in their business model, with monthly lending volume surging from
The integration of Betsy™, their AI-powered loan assistant, represents a important competitive advantage in the lending space. By reducing response times from hours to seconds and operating continuously, this technology creates significant operational leverage. Traditional lenders typically require 2-4 weeks for HELOC processing, making Better's 24-hour turnaround a distinctive market differentiator.
Three key strategic elements merit attention:
- The white-label and correspondent lending partnerships enable rapid market penetration without the capital-intensive burden of building physical infrastructure
- Expanded underwriting criteria targeting self-employed individuals and investment property owners addresses an underserved market segment typically overlooked by traditional lenders
- The AI-driven automation potentially reduces operational costs by
40-60% compared to traditional lending operations
However, this rapid growth trajectory presents both opportunities and challenges. While the
The market timing appears strategic, as rising interest rates have made cash-out refinancing less attractive, pushing homeowners toward HELOCs and HELOANs for accessing equity. This positions Better.com to capture market share during a significant shift in consumer borrowing preferences.
Diversifying its digital product suite, Better partners with mortgage brokers and lenders to scale home equity solutions
As traditional mortgage demand fluctuates, Better’s suite of home equity products helps strategically diversify its lending volume segments and helps homeowners access fast and flexible home equity lending solutions across market cycles. Better’s implementation of Betsy™ — the Company’s voice-based AI loan assistant — into its product funnel has since facilitated its home equity lending growth, cutting response times from hours to seconds while operating 24/7, 365 days a year with greater speed and cost efficiency than traditional lenders or mortgage call centers. The Company's lending volume is also fueled by strategic partnerships with mortgage brokers and lenders who leverage Better’s technology and capital to offer HELOCs and HELOANs under correspondent and white-label arrangements.
Speed remains a core component of Better’s differentiating value proposition with its home equity products including One Day HELOC™, which moves a qualified applicant through the underwriting process to deliver an underwritten approval within 24 hours. Better has also expanded access to home equity solutions by broadening underwriting criteria, which helps homeowners with second homes and investment properties, self-employed individuals, and small business owners who often struggle with traditional lending requirements to access their home equity with greater speed and convenience — and typically at a much lower interest rate than personal loans or credit cards.
“Whether for renovations, debt consolidation, business needs, or unexpected expenses, one of the greatest advantages of becoming a homeowner is the ability to tap into your home’s equity when you need it,” said Vishal Garg, CEO of Better.com. “As the fastest-growing digital home equity lender in the market, we understand that need and will continue to demonstrate speed, ease, and efficiency – the same differentiators which power our One Day Mortgage™ product – to homeowners when they need to access their equity.”
In addition to its online presence, by partnering with mortgage brokers and lenders, Better is not only scaling its home equity business but also enabling industry partners to offer cutting-edge digital solutions without the costly requirements of building in-house infrastructure. This collaborative model ensures that more homeowners across the country can benefit from a seamless, fast, and tech-driven borrowing experience.
For more information about Better’s home equity offerings or to apply, visit better.com/HELOC and better.com/home-equity.
About Better.com
Since 2016, Better Home & Finance Holding Company (NASDAQ: BETR; BETRW) has leveraged its industry-leading AI platform, Tinman™, to fund more than
For more information, follow @betterdotcom.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250220465072/en/
Source: Better Home & Finance Holding Company
FAQ
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