Get your home loan in a flash with Better.com’s one-day mortgage program!
For those in the market for a new home, the process can be a long, drawn-out affair. From finding the right property, to applying for a loan, to getting the loan approved, it can take months to secure financing. But what if you could get your loan approved in just one day?
Better.com’s One-Day Mortgage Program
Better.com, a digital mortgage platform, has made it possible with their one-day mortgage program. With the program, customers can get an automated mortgage approval in just 24 hours. That’s right, in just one day, you can go from loan application to loan approval.
The process is simple. First, you fill out an online application on the Better.com website. Then, you upload all the necessary documents for the loan. Better.com will then use their automated underwriting system to review and verify your documents. If everything looks good, you’ll receive an approval within 24 hours.
Benefits of the One-Day Mortgage Program
The biggest benefit of the one-day mortgage program is the speed at which you can get your loan approved. Instead of waiting weeks or even months for a loan to be approved, customers can get an approval in just one day. This can be especially helpful if you’re in a rush to close on a house or if you’re trying to beat out other buyers in a competitive market.
The program is also beneficial because it eliminates the need to visit a bank or lender in person. You can do everything from the comfort of your own home. This saves time and money because you don’t have to worry about traveling to a loan office. Plus, you don’t have to worry about dealing with loan officers or paperwork.
Requirements for the One-Day Mortgage Program
The one-day mortgage program is not for everyone. To qualify, you must meet certain criteria. First, you must have a credit score of at least 640. You also must have a debt-to-income ratio of 43% or lower. Lastly, you must have a down payment of at least 3.5% of the purchase price.
Drawbacks of the One-Day Mortgage Program
The one-day mortgage program isn’t without its drawbacks. For one, it’s only available to certain borrowers. If you don’t meet the credit score, debt-to-income ratio, and down payment requirements, you won’t be able to take advantage of the program.
The program also isn’t available in every state. Currently, it’s only available in certain states, such as California, New York, and Texas. So if you’re looking to purchase a home in a different state, the one-day mortgage program won’t be an option.
Conclusion
If you meet the requirements and live in an eligible state, the one-day mortgage program from Better.com can be a great option for getting your loan approved quickly. Instead of waiting weeks or even months for a loan to be approved, customers can get an approval in just one day. This can be especially helpful if you’re in a rush to close on a house or if you’re trying to beat out other buyers in a competitive market. So if you’re in the market for a new home and want to get your loan approved quickly, Better.com’s one-day mortgage program may be the perfect solution for you.