Better Home & Finance Holding Company (NASDAQ: BETR), a digital homeownership company, launches Better Mortgage VA Loans, which is described as a fully digital VA loan program available to eligible US Veterans, service members, National Guard and Reserve members, and in some cases Veterans spouses are able to qualify in all 50 states.
This offering allows qualified Veterans “to secure a home loan for up to 100% of their purchase price with no down payment requirement, improving the homeownership experience for individuals who served their country.”
With Better Mortgage, Veterans can reportedly leverage “a fully digital platform to achieve their homeownership dreams faster and easier than the traditional mortgage process.”
Vishal Garg, Founder & CEO of Better, said:
“Better has brought the traditional mortgage into the digital era, launching our 1 Day Mortgage Product and funding over $100 billion of fully digital mortgages. With Better’s VA Loans, we are opening the door for even more hardworking Americans who have served their country to achieve the American Dream of homeownership.”
Better’s VA loan will have “no minimum down payment requirement for qualified borrowers, opening the door for aspiring Veteran homebuyers that may have previously been priced out. Veterans can use a Better VA Loan to purchase a primary residence and will allow them to borrow up to 100% of the purchase price (dependent on available eligibility and borrower qualification).”
The launch of their fully digital VA Loan is “the latest example of Better’s continued commitment to investing in technology and automation.”
VA Loans are fully underwritten “to the investor criteria set forth by Better’s investors and the VA. Additional details on eligibility requirements can be found on VA.gov.”
Since 2017, Better Home & Finance Holding Company claims it “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” all within 24 hours.”
From 2019-2022, Better completed “approximately $98 billion in mortgage volume and $39 billion in coverage written through its insurance arm, Better Cover.”
Better serves customers in “all 50 US states and the United Kingdom.”