Better Home Card
Terms and Conditions
The Better Home Card is a closed-end, unsecured loan which does not revolve or replenish with repayment and is offered through our partnership with lender, Notable Finance, LLC (“Notable”). Better Home Card loan amounts range from $5,000 to $50,000, depending upon your creditworthiness and other underwriting factors.
If approved your Better Home Card (as further described below) you will arrive in 3-7 days to the address you’ve provided to Notable during the application process.
The Better Home Card by Notable is an unsecured personal loan product where there is an initial 12-month “draw period” during which you can use any or all of the total loan amount you’ve been approved for, and during the draw period you only pay interest on the loan funds you’ve used. Following this initial 12-month draw period, you are no longer able to withdraw funds and there is a 3 or 5-year “fixed” period, where you will pay back the loan in full in monthly installments as determined by your loan balance at the end of the draw period. The Better Home Card APR is a fixed interest rate that will not adjust during the life of the loan*.
The Better Home Card is being offered to Better Mortgage customers on either a 3-year or 5-year term, following the 12-month draw period described in #3 above. The APR ranges associated with each term are as follows:
- 3 year term*: 6.24% - 14.99% APR* with Autopay
- 6.74% - 15.49% APR without Autopay
- 5-year term*: 6.74% - 15.49% APR* with Autopay
- 7.24% - 15.99% APR without Autopay
To qualify for the lower APR ranges shown above, you must sign up for Autopay at the time you apply for the Better Home Card. By opting-in for Autopay, you authorize Notable to initiate recurring electronic debits to the account specified by you during the application process. The .5% autopay interest rate reduction requires you to agree to make scheduled monthly payments by automatic deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a Better Home Card.
If you are approved for the Better Home Card, the rates offered will depend on things like creditworthiness, length of the loan and other factors, and will fall within the range of rates available by applicable loan term. Lowest rates are reserved for the most qualified borrowers. Notable reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change.
The Better Home Card can only be used for home improvement purposes.
The Home Card is a debit-type access card that provides a convenient way to access your Better Home Card loan funds. The Home Card is issued by Sutton Bank, Member FDIC, and powered by Marqeta pursuant to a license from Mastercard International Inc. Terms and conditions apply. See Marqeta, Mastercard®, and Sutton Bank Terms for further details. The Better Home Card (“Home Card”) Program Agreement can be found here: http://betterhome.notablefi.com/cash-back-rewards-terms
When you make certain purchases with your Better Home Card from approved merchants participating in the Better Home Card Program, you earn rewards called “Cash Back Rewards.” Different merchants may award different Cash Back Rewards amounts. See http://help.betterhome.notablefi.com for a current list of participating merchants. Cash Back Rewards are only earned when transactions are processed, which may be after your purchase date. Some merchants may compile purchases and post them at a later date, which may be different than the day the purchase was initiated. Your Cash Back Rewards is calculated on each purchase from a participating merchant, and is stored in your Cash Back Rewards account in dollars and cents that are rounded to the nearest cent. Your accumulated Cash Back Rewards is then applied to your Cash Back Rewards Account at the end of the draw period. It may take 1-2 billing periods after a transaction for all of your Cash Back Rewards to be added and applied. You will not earn Cash Back Rewards on cash advances, balance transfers, illegal or disputed transactions or on any cash you receive in connection with a purchase at the point of sale through our Cash at Checkout feature. Purchases made through third-party payment accounts, mobile or wireless card readers, digital wallets or similar technology will not be eligible if the technology does not provide sufficient detail for rewards calculation. Refer to your Loan Agreement for further details on earning Cash Back Rewards, as well as the Cash Back Rewards Program Terms and Conditions located here: http://betterhome.notablefi.com/cash-back-rewards-terms
To be eligible to apply for the Better Home Card product, you must: be a U.S. citizen, permanent resident or non-permanent resident (certain visa categories only). Individuals who also have a Better Home mortgage must authorize Notable Finance, LLC to import your mortgage application data from Better in consideration of applying for a Better Home Card.
Better Mortgage is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.
BETTER MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Better Mortgage Corporation, 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007. Tel: 888-501-3186, Fax: 408-946-0112, is licensed by the Department of Business Oversight under the California Finance Lender Law License No.6052748, NMLS # 330511. (www.nmlsconsumeraccess.org).
Offer is subject to credit approval by Notable Finance, LLC. No origination or application fees apply. Notable® is a direct lender dedicated to providing a fast transparent digital lending experience backed by superior customer support. All rights reserved. © Notable Finance, LLC | 6 Landmark Sq, Fl 4, Stamford, CT 06901 NMLS #1824748. California customers: Loans made or arranged pursuant to a California Finance Lenders Law License. Not available in all states.