In an interview, Better founder Vishal Garg highlighted the rapid growth of their Home Equity Line of Credit (HELOC) product launched in beta mode in late 2023. The product allows for approvals in under eight hours, catering to various consumer needs such as home renovations, debt consolidation, and educational expenses. By utilizing a marketplace lending model with a diverse range of investors, Better aims to provide higher approval rates compared to other providers and projects $60 million in HELOC originations for October 2024.
Better's HELOC product, launched in late 2023, utilizes advanced technology and multiple investors to achieve faster underwritings and high approval rates.
Our one-day HELOC product goes from application to fully underwritten approval in less than eight hours, serving various consumer needs.
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