Better.com has recently launched Equity Unlocker, an initiative designed to help Amazon employees purchase homes. The program is available for any Amazon direct hire that has worked with the company for over 6 months, as well as any employee who worked for Amazon’s logistics, Whole Foods, and Amazon Web Services for any length of time.
Equity Unlocker allows Amazon employees to use their experience at the company toward the down payment of a home. Under the program, employees can use up to 10% of their base salary from Amazon and up to $10,000 of their vested stocks over the past three years towards a down payment. Homeowners must also take part in a financial education program to ensure they are ready to become homeowners and make informed decisions.
Since its launch, hundreds of current Amazon employees have already taken advantage of the program, with many other applications still pending. The company is also working with other employers to expand the program’s reach to more homebuyers.
Equity Unlocker is beneficial for both Amazon’s employees and the home buying process. It gives employees the opportunity to purchase a home, even if they cannot afford a large down payment, and helps make the homebuying process simpler and more straightforward. By allowing employees to use their experiences and salary as equity, Equity Unlocker can help close the gap between employers and the housing market.
You can read this full article at: https://www.housingwire.com/articles/better-launches-equity-unlocker-to-help-amazon-employees-buy-homes/(subscription required)
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