Better.com Expands Mortgage Offerings for Veterans through VA Interest Rate Reduction Refinance Loan (VA IRRRL)
12 November 2024 - 1:00AM
Business Wire
Better.com launches streamlined refinancing
solution to empower eligible veterans and active-duty service
members to reduce monthly payments
Better Home & Finance Holding Company (NASDAQ: BETR)
(“Better.com”), the leading digital homeownership company, today
announced the addition of VA Interest Rate Reduction Refinance Loan
(VA IRRRL) to their suite of mortgage products. VA IRRRL is a
streamlined refinancing solution designed specifically for eligible
veterans, active-duty service members, and surviving spouses. This
program, backed by the US Department of Veteran Affairs, allows
borrowers to refinance their existing VA loans with no appraisal,
asset or income verification requirements, and offers easier credit
qualifications allowing homeowners to secure lower interest rates
and reduce their monthly payments on an expedited timeline.
The VA IRRRL is a refinancing option available through the VA
loan program for eligible active-duty service members, veterans,
and their surviving spouses. This program simplifies the
refinancing process by reducing paperwork and eligibility
requirements, allowing you to lower monthly mortgage payments
through a reduced interest rate or to secure a fixed rate instead
of an adjustable or variable rate.
Better.com has digitized and automated the VA IRRRL process,
reducing time and costs—to deliver greater value to Veterans.
Whether you prefer a fully digital experience or want guidance from
a loan officer, Better.com adapts to your needs. This is especially
beneficial for active-duty service members and veterans, who can
complete the entire loan process online, close remotely whether
deployed overseas or at home, and take advantage of extended call
center hours. Additionally, they can access Betsy™, Better.com’s
voice-based AI loan assistant, with 24/7 support to answer loan
questions.
“At Better.com, we are committed to honoring veterans for their
service. The addition of VA IRRRL allows Better to give back to
veterans and their families through mortgage offerings that make
homeownership simpler and more affordable,” said Vishal Garg, CEO
of Better.com. “As we look ahead with optimism to a more favorable
interest rate environment, we are proud to simplify the refinancing
process for veterans, helping those who have served our country
save money and secure their financial future.”
This program is ideal for homeowners looking to lower their
monthly payments, lock in a better interest rate, or to switch to a
fixed rate from an ARM or variable rate. To qualify, borrowers must
currently hold a VA loan in good standing. The VA IRRRL features a
fixed-rate loan option and a reduced funding fee of 0.5%, which can
be waived for certain disabled veterans and surviving spouses.
Additionally, closing costs can be conveniently rolled into the new
loan, eliminating out-of-pocket expenses.
By accessing a proprietary marketplace of investors, Better.com
can offer competitive interest rates. Veterans, active-duty service
members, and qualifying spouses are encouraged to check their
eligibility and see how much they can save with a VA IRRRL at
www.better.com/va-irrrl.
About Better.com
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.com serves
customers in all 50 US states and the United Kingdom.
For more information, follow @betterdotcom.
Disclaimer: Refinancing may cause your finance charges to be
higher over the life of the loan.
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version on businesswire.com: https://www.businesswire.com/news/home/20241111551877/en/
Nneka Etoniru better@avenuez.com
Better Home and Finance (NASDAQ:BETR)
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