Better SPAC Presentation Deck
We deliver a lower
rate and better
experience for our
customers
●
●
●
Our exceptional customer experience is driven by price and speed
Our rates are consistently >20bps lower than industry average³
We stand by our low prices with our unmatched Better Price Guarantee¹
We deliver industry-leading cycle times while rapidly growing market share
In 2020, our refinance
customers saw:
$683
Monthly savings on loan
payments²
Which, for an average
customer represents:
Better
~10%
Additional
Disposable Cash²
1. Better Price Guarantee: Better will match any valid competitor's offer, and credit customer an extra $100. If we can't, the $100 is the customer's
to keep.
2. Better Mortgage saves refinance customers $8,200 a year on average in loan payments. The average yearly payment savings estimate is based
on a comparison of our borrowers' principal and interest payments on their prior mortgage and the principal and interest payments on their new
loan from Better Mortgage. The yearly payment savings is an average of the difference between those two monthly payments across all
refinance customers between Jan'20 and Dec'20, multiplied by 12 (savings are incurred each month in a year). Assumes $7,040 median post-tax
monthly income, in line with Better's average customer's income
3. Source: MBA Weekly Application Survey. The effective rate is a function of contract (i.e. note) rate and points/credits. For Better, assume
scenario of $150K - $453K loan amount, 75-80 LTV, primary residence, 740+ FICO, exclude cash out refi. MBA surveys 75%+ of all U.S. retail
residential applications. Data from January 2018 to December 2020
4. Industry average numbers assume two days for app-to-lock (two days subtracted from reported figure, which begins at application stage).
Lower Priced...
Comparison of 30-Year Fixed Effective Rate³
5.10%
4.60%
4.10%
3.60%
3.10%
2.60%
43
34
Jan-18
Mar-18
Mar-20
May-18
44
36
Jul-18
...with Unmatched Cycle Times...
Lock-to-fund days for Purchase Loans4
Apr-20
45
36
Sep-18
May-20
44
35
Nov-18
Jun-20
Jan-19
42
34
Jul-20
Mar-19
May-19
Better
43
Better Rate
Aug-20
6L-Inr
45
35 36
Sep-20
Sep-19
Mortgage Bankers
Association Rate Index
46
Nov-19
Jan-20
Oct-20
Mar-20
37 38
May-20
47
→Industry Average
Nov-20
Jul-20
54
38
Dec-20
Sep-20
55
40
Jan-21
Nov-20
51
37
Feb-21
17View entire presentation