Better launches bank statement HELOC for small business owners

"The new program lets self-employed borrowers access home equity without tax returns, W-2s or profit-and-loss statements. Instead, applicants can verify income with 12 or 24 months of personal or business bank statements. Better's TinMan, the company's end-to-end loan origination system, analyzes those statements to calculate income trends and provide nearly instant approvals. The program eliminates physical appraisals and streamlines title insurance for loans up to $400,000, the company said."

"Unlike traditional home equity lenders who operate on multiple fragmented and outdated point solutions, Tinman AI has been trained to detect alternative sources of data and automate verification without the need to review endless stacks of PDFs. Now that we've established the processes with our AI to deliver a seamless customer experience to small business owners across America, we've brought the Better Bank Statement HELOC to market."

Better launched a Bank Statement HELOC allowing self-employed borrowers to verify income with 12 or 24 months of personal or business bank statements instead of tax returns, W-2s, or profit-and-loss statements. TinMan, an end-to-end origination system, analyzes bank statements to calculate income trends and deliver near-instant approvals. The product eliminates physical appraisals and streamlines title insurance for loans up to $400,000. Better's HELOC customers consolidated $193 million in high-interest debt, saving an average $1,120 monthly in Q2 2025. Customers using funds for consolidation saw credit-score gains of 25–60 points, with lower-credit borrowers averaging 37-point increases. HELOCs average about 8% versus credit cards at 27% and personal loans above 17%.

Read at www.housingwire.com