Amazon has signed a deal with online mortgage lender Better.com to allow its employees to use their shares in the company towards a mortgage down payment. This arrangement is part of Better.com's Corporate Mortgage Program, which allows employees of partner companies to use their vested stock options as a form of down payment on a home.
Better.com's CEO, Vishal Garg, has been embroiled in controversy in recent months following reports of a toxic work culture at the company and allegations of abusive behavior towards employees. However, the partnership with Amazon suggests that Better.com's business model remains attractive to companies looking to offer unique benefits to their employees.
The use of company stock options for home buying is a growing trend, particularly in the tech industry, where many companies offer stock options as a form of compensation. While this approach can offer certain benefits, such as potentially lower interest rates and larger down payments, it is important for employees to carefully consider the risks and potential tax implications of using stock options for home financing.
Overall, the partnership between Amazon and Better.com highlights the growing importance of innovative employee benefits in today's competitive job market. As companies seek to attract and retain top talent, offering unique perks such as stock option-based mortgage down payments may become increasingly common.