Better Home & Finance Holding Co. announced that its home equity line of credit (HELOC) product has collectively helped customers pay off more than $193 million in debt. Better said that its HELOC product has enabled nearly 50% of borrowers to consolidate debt —primarily high-interest revolving credit, personal loans and installment payments. This has resulted in an average monthly savings of $1,120 for those who achieved positive cash flow. The company said the most commonly paid-off debts included revolving credit (32%), installment loans (27%) and credit lines (26%). “Better has built an AI-native and end-to-end mortgage origination platform to add value to the definition of homeownership by delivering home-equity decisions in as little as a day,” Vishal Garg, CEO and founder of Better.com, said. “Our HELOC borrowers are lowering their required monthly payments by about $1,000 on average; that’s real relief for household budgets. Putting cash back into the hands of homeowners has never been better, faster, and easier than it is with our One Day HELOC.” Better president and chief operating officer Chad Smith said that HELOCs feel like “the right product for the right time.” Better reported $80 million in monthly HELOC and home equity loan originations as of the second quarter of 2025 — a 38% increase from its $60 million monthly run rate announced in February. “If you kind of look at that at $80 million a month, that’s nearly a quarter billion a quarter. We’re approaching a billion-[dollar] run rate. We see consumer demand not waning,” Smith said.