Amazon will soon let employees use their stock in the company to finance home purchases.
Program participants would use vested equity in the firm as collateral for down payments.
- The e-commerce giant reached a deal with mortgage origination platform Better.com to give Amazon's employees access to Better's new Equity Unlocker program.
- Amazon employees in Florida, New York, and Washington state will be the first to be given access to the program.
- Better.com noted in a statement that it would charge higher rates to those who use the program to "protect itself" if Amazon's stock price slide continues.
- The mortgage origination platform has used Amazon Web Services (AWS) since 2015, and its loan system is based on AWS software.
