We receive advertising fees from the brands we review that affect the ranking and scoring of such brands.
Advertiser Disclosure
Better logo - black

Better Mortgage Reviews

8.8

bestfor-icon Quick Cash Out Refinance

alirivzi
Written by Ali Rivzi

About Better Mortgage | Read More

8.8

LS Score

8

Credibility

9.6

Support

9.1

Accessibility

Visit Site
Opening Hours Opening Hours drop-down-btn
Mon-Sun 24/7
Contact Information Contact Information drop-down-btn
  • hello@better.com
  • (415) 523-8837
  • Headquarters: 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007
Social Media Social Media drop-down-btn
facebook-icon instagram-icon linkedin-icon

Better Mortgage Mortgages Review

Better is an online provider of mortgage loans, with its point of differentiation being the speed at which it gives you a quote and pre-approval. You can get the green light for a loan in a matter of minutes.

Then there’s the fee structure and efficient application process. This Better review will highlight the different aspects of getting a mortgage from Better, including the speedy online application process, main requirements, and any fees in place.

Better Mortgage has a customer-friendly online-only interface on which customers can get pre-approved and see their rates in a matter of minutes. Their application is free. Better Mortgage offers a program that allows qualifying buyers to make cash offers. They also offer a cash guarantee that qualifying mortgages will close on time. The lender offers home loans in all 50 states, including Washington D.C. VA loans, and some other product offerings are not available in every state.

Better Mortgage Mortgages Highlight

620

Min Credit Score

Min 6.475%

APR. Fixed Rate

Max $3M

Mortgage Amount

10, 15, 20-, 25, and 30 years

Repayment terms

Yes

Soft Credit Pull

Direct

Lender Type

Yes

Other Fees

Origination Fee

None

Prepayment Fee

21-45 Days

Funding Time

330511

NMLS

Mortgage Refinance

5.720-6.051%

APR. Fixed Rate

Max $3M

Mortgage Amount

Pros & Cons

drop-down-btn
  • con-icon 100% online-based
  • con-icon Customer support available 24/7
  • con-icon Online application process
  • con-icon Typically need credit score above 620 or 580 for VA & FHA loans.
  • con-icon If applying for a loan with a co-borrower, underwriters use the lowest credit score for qualification purposes

Mortgage Type

drop-down-btn
  • Mortgage Purchase
  • Mortgage Refinance
  • Fixed
  • Adjustable
  • Home Equity Loan
  • Home Equity Line of Credit
  • FHA
  • VA
  • Jumbo
View rates

Better Mortgage Mortgages Terms & Requirements

Better Mortgage offers conventional, FHA, jumbo, and VA loans. To apply for a VA or FHA loan, you need a minimum FICO score of 580. They also offer refinancing. Their adjustable rate terms are 10/1 ARM, 7/1 ARM, and 5/1 ARM; the fixed rate terms are 30-year, 20-year, and 15-year terms. Better Mortgage offers several products and services, but a select few, like its completely online process and 24/7 support, distinguish it from other mortgage lenders in the industry.

Better Mortgage offers title and homeowners insurance, which helps synchronize the entire home-buying process seamlessly.

How to Apply

To apply for any of Better Mortgages’ products or services simply go to their website , and select “buy” or “refinance”. After which it will ask you questions relating to your needs, and will require details including but not limited to your credit score, zip code, name, and contact details. If you need help at any part of the process, simply message within the chat box at the bottom of the screen, or call their helpline number located at the top of the screen.

Better step 1
Screen 1

Start to find your rates

Where are you in the home buying process?
Screen 2

Where are you in the home buying process?

When do you plan to buy?
Screen 3

When do you plan to buy?

How will you use this home?
Screen 4

How will you use this home?

What type of home?
Screen 5

What type of home?

Have you owned any property in the last 3 years?
Screen 6

Have you owned any property in the last 3 years?

Where are you looking to buy?
Screen 7

Where are you looking to buy?

What's your email address?
Screen 8

What's your email address?

First and last name
Screen 9

First and last name

Phone number
Screen 10

Phone number

Do you already have a real estate agent?
Screen 11

Do you already have a real estate agent?

Offer to partner with a Better Real Estate Partner Agent
Screen 12

Offer to partner with a Better Real Estate Partner Agent

Get a preapproval letter and see how much you can afford
Screen 13

Get a preapproval letter and see how much you can afford

Current address
Screen

Current address

Enter last 4 digits of a SSN for a soft credit check
Screen

Enter last 4 digits of a SSN for a soft credit check

Qualification Requirements

Criteria Minimum
Min. Credit score 620+ FICO score require
Min. debt-to-income ratio No minimum
Min. annual income No minimum
Min. age of borrower 18

Required Information

To get pre-approved for any of the products and services Better Mortgage provides you will need to gather the following information prior to submitting the information. Depending you your individual circumstances the information and details required may include:

  • name
  • address
  • proof of identity
  • phone number
  • credit score
  • social security number
  • proof of income
  • desired amount to borrow

Application Steps & Time Frames

  • Fill out the short online application (5-7 minutes).
  • Get pre-approved in as little as 3 minutes.
  • Call or chat online about your pre-approval. Their customer service is very helpful.
  • Find and put an offer on a house.
  • Close within 30 – to 45 days (may differ depending on the loan amount).

State Availability

- Available in all states

alirivzi
Written by Ali Rivzi linkedin-icon

Ali Rizvi is a published author, financial analyst, and market researcher. He's passionate about providing in-depth insights and analysis in the finance and blockchain industries. With a Bachelor's in Finance from Purdue University and a background studying abroad at the University of Cambridge, he brings a wealth of knowledge and expertise to the table.

faq-icon

FAQ’s

Why choose Better Mortgage?

Their team is fully committed to helping you in the mortgage process, 24/7. You can get a pre-approval within minutes with their 100% online process.

Are the fees associated with a mortgage high?

Better Mortgage says the majority of their loans from the past year had closing costs between $1,500 and $5,500.

How fast will Better provide a quote for a mortgage loan?

Better leverages modern technology to give you a personalized rate quote in just seconds after you submit the initial form.

How long does approval take at Better?

Better is faster than most of its competitors, offering pre-approval in minutes rather than days or weeks.

Customer Support

Better Mortgage has an online chat, a 24/7 call feature, and an emailing feature to aid customers with whatever they may need. Their online chat and call feature both have live experts ready and waiting to help you, regardless of what stage in the lending process you are in. Their agents usually get back to you via email within 24-48 hours, helping to make your lending process as fast and efficient as possible. Regardless of what product or service you are interested in or may have a problem with, their agents are ready to help you, or connect you with the appropriate department to make sure your needs are met.

Privacy & Security

Better Mortgage Corporation has a comprehensive privacy policy, including information about how consumers can use the Fair Credit Reporting Act to limit the sharing of personal information with other companies. They use encryption technologies when transmitting information to protect your personal information. Remember, however, that if you email with Better Mortgage from your personal email account, this is not a secure form of communication for transmitting sensitive information.

Any data that Better collects is only shared with your permission and when you’re submitting any data or forms, everything will be encrypted to protect it from prying eyes. As a publicly traded company, Better is under even more scrutiny from regulators than the private lenders in the market today.

In Conclusion

Better is a trustworthy lender for people who want quick access to a mortgage loan. It is under plenty of oversight from regulators, so you know that you’re dealing with a legitimate company.

Better Mortgage is for people who are looking for a quick and efficient, online-only process. They pride themselves on being customer oriented and are available 24/7 to help the customers in any way possible with the mortgage process. Their website is quite helpful and informative about interest rates, loan process, and will either get you a realtor or the information on getting a realtor to help you in your local area. Their available products and services may differ depending on what state you are in, however their process is extremely efficient and entirely free. They also offer a pre-approval process that does not impact your credit score, with a soft-credit pull.

Brand Disclaimer

© 2024 Better Home & Finance Holding Company and/or its affiliates. Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC and Better Real Estate California Inc License # 02164055 provides real estate services; Better Cover, LLC sells insurance products; and Better Settlement Services provides title insurance services; and Better Inspect, LLC provides home inspection services. All rights reserved.

Home lending products offered by Better Mortgage Corporation. Better Mortgage Corporation is a direct lender. NMLS #330511. 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007. Loans made or arranged pursuant to a California Finance Lenders Law License. Not available in all states. Equal Housing Lender. NMLS Consumer Access

Better Real Estate, LLC dba BRE, Better Home Services, BRE Services, LLC and Better Real Estate, and operating in the State of California through its wholly owned subsidiary Better Real Estate California Inc., is a licensed real estate brokerage and maintains its corporate headquarters at 325-41 Chestnut Street, Suite 826, Philadelphia, PA 19106. Here is a full listing of Better Real Estate, LLC’s license numbers. Better Real Estate, LLC provides access to real estate brokerage services via its nationwide network of partner brokerages and real estate agents (“Better Real Estate Partner Agents”). Equal Housing Opportunity. All rights reserved.

New York State Fair Housing Notice

New York Standard Operating Procedures

Texas Real Estate Commission: Information About Brokerage Services | Consumer Protection Notice

Better Settlement Services, LLC. 325-41 Chestnut Street, Suite 803, Philadelphia, PA 19106.

Homeowners insurance policies are offered through Better Cover, LLC, a Pennsylvania Resident Producer Agency. License #881593. 325-41 Chestnut Street, Suite 807, Philadelphia, PA 19106.

Insurance quotes and policies are offered through Better Cover, LLC. A Pennsylvania Resident Producer Agency. License #881593. Here is a full listing of Better Cover, LLC’s license numbers.

Better Inspect, LLC maintains its corporate headquarters at 325-41 Chestnut Street, Suite 846, Philadelphia, PA 19106.

Better Mortgage Corporation, Better Real Estate, LLC, Better Settlement Services, LLC, Better Cover, LLC, Better Connect, and Better Inspect, LLC are separate operating subsidiaries of Better Home & Finance Holding Company. Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation, and applicable and legal and regulatory requirements. Products not available in all states.

Any unauthorized use of any proprietary or intellectual property is strictly prohibited. All trademarks, service marks, trade names, logos, icons, and domain names are proprietary to Better Home & Finance Holding Company. Better Home & Finance Holding Company trademarks are federally registered with the U. S. Patent and Trademark Office. Better Cover is a registered trademark with the U.S. Patent and Trademark Office and is owned by Better Cover, LLC.