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Better.com

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8.1

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LAST UPDATED: June 8th, 2022

Better.com (also known as Better Mortgage) is a direct mortgage lender that entered the digital mortgage market in 2016. The lender's mission is to completely redefine the homeownership process and make it simple, fast, and affordable — for everyone. Better.com accomplishes these objectives by keeping the entire mortgage process online and eliminating commission and lender fees.

Better.com is also committed to providing superior customer support and you can call any time if you have questions or concerns about your mortgage.

Continue reading for more information about this lender or jump down to read Better.com reviews from real customers.

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The Good

  • 100% Online Application
  • Simple, Straightforward Process
  • Loan Officers Don't Earn Commission
  • No Lender Fees
  • Additional Resources
  • Better.com Reviews

100% Online Application

Better.com's mortgage application is 100 percent online. This means you can apply, lock in a mortgage rate, and get your mortgage funded without leaving your home.

Simple, Straightforward Process

Consumers should appreciate Better's straightforward process. To get started, all you need to do is select whether you're buying a home or refinancing.

If you choose the 'buy' option, you'll need to fill out some general information — things like whether you're just looking or if you plan on making an offer.

If you choose the 'refinance' option, be prepared to fill out some information regarding your property.

Filling out the online application should only take a few minutes, and once that's done, Better.com presents you with the amount you can borrow or how much you potentially can save (with a refinance).

Overall, the process is straightforward. Just be sure to have your personal information and property information (if you're refinancing) on hand.

Loan Officers Don't Earn Commission

Better.com is unique because its loan officers don't earn a commission. This means that homebuyers aren't responsible for commission fees which can significantly raise upfront costs.

According to Better.com, mortgage loan officers generally receive about one percent of the total loan amount. If your mortgage loan officer gets you a $500,000 loan, they get $5,000 in commission. However, this can be avoided with a Better mortgage.

No Lender Fees

Better.com doesn't charge any lender fees. There are no origination, application, processing, or underwriting fees. Instead, the lender makes money by selling loans to investors in the secondary market.

Using its technology, Better matches borrowers with investors interested in buying their loans and paying a reasonable price for them. This then allows Better to offer low rates to its borrowers.

Additionally, Better's rates are lower because of the company's dedication to streamlining the mortgage process.

Additional Resources

Better's website is filled with helpful information and resources. You can easily view mortgage rates. There is a loan comparison calculator, and the company's blog is packed with valuable articles that are great for everyone — no matter where you are in the home-buying process.

Better.com Reviews

On BestCompany.com, 96 percent of Better.com reviews are 4 or 5 stars. These ratings alone significantly set Better.com apart from other mortgage lenders.

Satisfied Better.com borrowers typically highlight the following in positive reviews:

  • Efficient mortgage process — Better.com can get you to closing much faster than other lenders
  • Low mortgage rates
  • Reliable and responsive customer service representatives
  • Overall transparency throughout the mortgage process — the lender doesn't hide anything from homebuyers

Reviews with 3 stars or below are minimal, but some customers express dissatisfaction with how quickly Better.com sold their loan after closing, in some instances putting the loan in the hands of a servicing company that is difficult to work with. Most, if not all, mortgage lenders sell loans, so this is not an uncommon practice, but it is worth noting that your Better.com mortgage will likely be transferred to a different servicer immediately after closing.

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The Bad

  • No Home Equity Loans or HELOCs
  • No VA or USDA Loans
  • Not Available Nationwide

No Home Equity Loans or HELOCs

Currently, Better.com does not offer home equity line of credit (HELOCs) or second mortgages. HELOCs can be beneficial as they are secured loans backed by your home. With HELOCs, you are given access to a credit line (similar to a credit card) and only charged interest on the amount you use. HELOCs can be used to remodel your home, pay off student and other debt, or fund a vacation (there are no restrictions on how HELOCs can be used).

No VA or USDA Loans

Better.com does not offer any VA loan or USDA loan options at this time. However, in addition to its conventional loan options, Better.com does offer FHA loan options which can be helpful for first-time homebuyers.

Not Available Nationwide

Better.com offers its services to more than 40 states but still is unavailable in some states.

Although Better.com notes it has plans to become available nationwide soon, it's not quite there. 

That said, if you live in the following states, Better.com is currently not an option:

  • Hawaii
  • Massachusetts
  • New Hampshire
  • Nevada
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The Bottom Line

Better.com sets itself apart in the mortgage industry with it's 100 percent online business model, providing homebuyers with a simpler and faster mortgage process. In addition, the lender has zero commission fees and lender fees, cutting upfront costs that you would encounter with other mortgage lenders. 

To qualify for a Better.com mortgage, you will need a credit score of 620 or above, but if you are a first-time homebuyer or low-credit homebuyer, Better.com may have a mortgage solution for you, such as an FHA loan.

Better.com reviews are overwhelmingly positive with customers highlighting exceptional customer service and low rates.

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Star Rating

4.7

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529 Reviews

Review Breakdown

5 grade

78%

4 grade

18%

3 grade

2%

2 grade

1%

1 grade

2%

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Melaine New York, NY

I was researching mortgage rates online and came across Better who was advertising very low rates. I read through the reviews and saw both good and one bad ones some of which made me skeptical to move forward with the process. I decided to give them a try and I must say, they did not disappoint. The communication from beginning to end was seamless. I loved how organized the website was and how efficient and easy it was to upload and provide the documents requested. I was able to apply and close on my mortgage in about 25 days (it was less than 30 days). I was very pleased with the entire process and the whole team that made it possible. I had a great experience using Better and was able to secure a very low interest rate.

10 months ago

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Anonymous

It was very good I would definitely use it again. I tend to recommend it mainly because you can do it on your own time online and they give you feedback on what's upcoming what's missing. I found it very easy to use and I would definitely use it again. Definitely exceeded my expectations. It was very easy but there was a lot of paperwork that had to be collected the nice thing was that it was easy to find out if what I provided was sufficient so people were constantly checking in and making sure it's adequate this is what they're looking for but there was a lot of documentation I had to be done. Overall I was very pleased with how quickly it went on the fast turn around the fact that it could all be done online that was a huge help to me. There were a lot of different people involved in the loan origination and other process but the communication was very good from the time I started until I completed it I was really surprised that how apprised of the progress they kept me.

11 months ago

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Anonymous

They always followed up with my requests very quickly and that was particularly important because I had a short closing period so if I hadn't been spoken to them promptly it would have caused anxiety but I was spoken to promptly and it was very much appreciated. Everything is very transparent on the website to complete the steps and you move on to the next step things generally get resolved very quickly so I do have confidence that things were moving along and that was important. I was pleased It was able to complete quickly at a schedule and I was able to rely on it to get the transaction completed so that's good it was easy.

11 months ago

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Mayra

They would get back to me whenever I was confused or needed an answer to something or if the other party wasn't working well with methey would contact them and get the information that was needed. Our customer support was fantastic. Everything was done properly and after we started the process they did everything in a timely manner and they would work through it and I trusted that everything else would fall in place. If I need to use a mortgage company again I would a hundred percent go back to better.com because they made the whole process seamless from from beginning through the end for my closing date. They made it very very easy for me, I filled out the paperwork, I did my free loan estimate just to see what I qualified for and then when I decided to go with better.com I just need one phone call and they took care of the restaurant you send everything through email and through Docu-Sign and paperwork was done almost instantly.

11 months ago

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Paul Metz Melbourne, FL

The process was extremely efficient. It was clear what documentation was needed. If I had questions, the response was always within a reasonable if not expedited timeframe. Which was quit unexpected. The closing costs were better than expected and process to close was convenient. The agent came to our house. Overall the experience went much better than expected. I have no hesitation recommending Better

10 months ago

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Rajit

I am a very happy homeowner. Everything with better.cm has been great so far. I hope I can continue to do business with them. I keep recommending them to a lot of friends. The process is seamless. Everything was online which was great. I could get them the documents in my leisure time, on the weekends or at night. All the loan officers reach out on a regular basis to make sure things are moving at a good pace. They are quick to respond to questions and always answer via email.

11 months ago

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Geraldine Tejeda Norwalk, CT

Went through Better.com to purchase our first home during the pandemic. We've heard some horror stories from friends and family about being delayed because of the bank, the lender, etc and we had the exact opposite experience. Everything went so smoothly for us! An absolute dream to work with especially when it was our first purchase so wasn't initially familiar with all the terms and lingo. Would highly recommend Better.com

11 months ago

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Erik

Everything was on paper, everything was made very transparent to me so there were no surprises. If I ever had any questions I was able to get in contact with somebody relatively quickly for any questions I might have had about any documentation I needed for it. Every step of the process is kind of laid out pretty simply and whenever more stuff is required it was very easy to to go through the process. It was a very painless very straightforward process.

11 months ago

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Michael

Everything was very, very easy. Any forms that I put on there when they needed information, they just let me know and if I needed to ask a question I can just call and got someone at any point in time and they were able to walk me through it. They were easy to reach if the person I was working with wasn't available they just got someone else who helped me through it or let me know when to call back. They were always reachable and always pretty easy to work with.

11 months ago

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Candice

Overall it was super easy everything was done via text or my dashboard on the computer and it made it really easy to understand. Every question I posted was answered within that day and they always reached out to me whenever there was a new person brought on to the team so it was not overwhelming. They have a fantastic business model and they are real people, not robots that reach out. They have a business model of just trying to make the everyday person mortgage experience easier and better it doesn't have to be as complicated and expensive so they have this new fresh business model that I just really love.

1 year ago

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Brian

It was a low price or low cost loan and I got a good rate. There were some changes in the term between when I submitted it and when the loan closed and I think better communication about those changes and why during the process will be better. Everyone was pretty responsive. There was some difficulties with the underwriting and a few small miscommunications but overall it was good.

11 months ago

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Seshukumar

The support is good. Whenever I call them they usually answer the call and then they usually solved my issue on time to time. The better.com web application has the process of uploading the documents and getting it really easy.

11 months ago

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Anonymous

Anytime I had a question they were able to answer very quickly. I didn't have any hold ups, the process was pretty smooth and the different people that were involved were pretty well aware of the application process. It was very smooth

11 months ago

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Dheeraj

The whole turn around from applications to getting the loan approved was less than a month. Every stage I was informed well. Everything was seamless through the website so they're easier than getting all that done through emails and phone calls.

11 months ago

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Stephen

I thought everybody was trustworthy.The support was great, multiple people are tending to the loan throughout the process so somebody always got back to you whether it'd be via email or telephone call or text and I like that. The process actually exceeded my expectations. I had some reservations and it actually ended up exceeding my expectations and it ended up being a more enjoyable experience than I thought it would be.

11 months ago

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Anonymous

There's no delay in starting the process and closing the process, they have great customer service and they have knowledge that will help you close your loans. The customer support is pretty informed, they are very knowledgeable and they make you feel comfortable and they keep you informed and with all the steps

11 months ago

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Charles

I like how everything was on my dashboard. I always knew what I had to do. I never had to wait to hear back from them. It was a really great experience. There were a couple of tasks assigned before they were possible to do. That was slightly annoying but it is my only feedback.

11 months ago

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Forrest

Better did what they said they would do. The rate is very good. I am happy with the process. It was very smooth online. I didn't have any issues. I was pleased with the experience. I had a couple of calls with customer support and they were prompt and helpful. I was able to talk to someone when I needed help.

11 months ago

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Ellen

Customer service was really, really good. Everyone was very responsive to phone calls and emails. They were really friendly. No one dropped the ball. Project management made it clear what was going to happen. I appreciate that I didn't need to go the bank to sign documents. It was all done online.

11 months ago

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Bruce

I liked being online. I liked that nothing was hidden. They did as they advertised. It is simple. They don't play games. It is straightforward and cheaper because of the fees. I like that they are honest. Things were moved along.

11 months ago

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Henri

I am very glad I chose Better.com because of their good pricing and the good user experience with the website. I did recommend them to a lot of friends who finished a long time before me but that might be a New York thing. It took a really long time to get done. They were pretty responsive. Being handed from person to another was not as good as being a single person the while time. Still keep up the good work. The American Express deal was very good. It is a great partnership.

11 months ago

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Christopher

Everything worked out well. It is very intuitive. The people assigned to me kept an eye on the process and followed up. They answered the phone when I called. I was never on hold for long. It was painless. The process is great overall. I loved it being electronic though some people are not good with it.

11 months ago

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Yaser

Better provided the best rates from all the different mortgage companies I looked into. The process was pretty straightforward. It is streamlined for each step of the process. There was a hiccup because I am on the east coast and my underwriter for the loan was on the west coast so I had to wait a few hours and they had technical issue. The rest of the process was really smooth. They allow you to reach out.

11 months ago

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Robert C Butson Minneapolis, MN

Refinancing our mortgage through Better.com was easier and more pleasant than working with our original lender and realtor to buy the house in the first place. Great options, and the customer service team are very responsive.

11 months ago

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Tary McMillan Onalaska, TX

All contact was very friendly, professional and knowledgeable. Buying a home is always very stressful, but Better make it less so. Anytime I had a question or concern I could contact them and they were available to answer my question/concern and lessen my stress.

11 months ago

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Anonymous

The process and everything else is good, my experience is good with better.com the only problem I have is, it's very difficult to get in touch with anybody and typically cannot get a hold of them. Disconnected customer experience in terms of service. Apart from that the process the structure of the online models that's always good. But then yeah when you run into questions that's when you'll start experiencing multiple people responding and nobody knowing exactly what the answer would be.

11 months ago

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Christiane

Seems really easy to me. I really can't complain, the website is very interactive. I was able to upload documents easily so it was it was really easy. I think everybody was real nice but the the time zone difference. I think they are based in California and I'm on the east coast so that made it a little bit harder when I needed something. I think it's a great service. In the beginning I was a little dubious about it just because these days everyone's been worried about things not actually being ligitimate.The general product is great.

11 months ago

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Anonymous

I could not always get a hold of my person that I was working with same day, it was usually the call they were not available have to you know wait for them to call me back. It went pretty smoothly except a couple of times there was some confusion going back and forth on changing some stuff in the quote. And It was a little stressful because I was trying to do the refinance to cash out to take care of obligations that I had and it was on the time line and they did ask for a lot of documentation.

11 months ago

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Anonymous

Overall its good, any new platform you want it to be more solid and that would make the costumer feel more confident in every action people take have a always have a way to figure out the out come and if anything goes wrong people can easily track them. I contacted the support four to eight times and they stopped to respond and help soon and simply solved my problem quickly so I'm satisfied with that.

11 months ago

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Elizabeth

Better.com has a little better comparable rates. The benefits is that it is easy to use. My wife is pregnant with twins. We needed it right when we signed. It was pretty seamless. We didn't have to find babysitters. We didn't have to worry about getting a cold. It is not perfect. There are some small things that could be better but overall I would definitely recommend it. It would be helpful if there were some sort of portal or tool that showed our loan. The people behind it are great but there was a lot of back and forth.

11 months ago

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Meagan

I am very glad I did it. It was really easy. I didn't have to get on the phone to get a quote. Customer service is much better than I had with other companies. It is easy to get follow ups. I didn't feel rushed or bombarded. I was given all the right information. The woman was friendly. I would definitely use them again the future.

11 months ago

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Guy

It is the best rate and the easiest way to submit all the documents. They are very responsive. I wish there was an electronic signature option that didn't cost more. It doesn't make sense when it is cheaper for everyone involved.

11 months ago

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Timothy

Everybody in the process was helpful and answered my questions quickly. The technology is very easy. It is easy for a first mortgage. They are transparent. I was confused about the rate but customer service was able to help me figure it out.

11 months ago

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Latanya

I would check them out. The loan is easy to obtain. The process is seamless. Their guys kept me informed the whole way through and every time I had a question, I would reach ot and they answered it pretty easily. It is a good value.

11 months ago

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Alyssa

Definitely glad I did it. The user interface was really easy to use. I like having a personalized assignment. I felt I could reach to somebody at any time. I knew anyone I talked to could answer my question. I feel they are better than traditional banks.

11 months ago

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Derian

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11 months ago

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Ryan

It was great. I chose them because I liked the visual of my experiences. It was an easy process. Most of it was online. I could submit documents online and it was super easy. I always had some to contact me to see if I needed anything or had questions.

11 months ago

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Cheryl

Process is pretty user friendly and I think they were pretty successful. There were a couple of snags but it ended up working fine. The customer support was actually pretty good. It was very helpful when we could talk to someone. There were a couple of times when we called with a specific question and we would have to wait for the loan officer to call us back. It would be useful to have their extension number instead of just their email.

1 year ago

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Anonymous

I chose Better because you made the whole process much simpler than any of the other providers and very quick. The only feedback is when I was going to the approval process at some point you guys asked for an IRS transcript and I got an email from some third party about that and it would be nice get a notification within the task list to look out for that third party--it kind of slowed me down slightly so the loan would have been a little bit quicker had I known.

1 year ago

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Benjamin

Our friends went through the process and said it was easy so we decided to give it a shot and see how the program works. Everything went quickly and easily with no challenges or difficulties especially compared to working with traditional mortgage companies like Wells Fargo. In comparison it was far easier and far faster than anything I've done in the past. Better.com took like seven days, whereas traditionally mortgage companies have taken probably three to four weeks.

1 year ago

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Ju-Fang

The reason I chose Better.com was that you can operate it and submit all the forms online and I assume it's in good hands without any privacy issues. I think overall experience has been pretty good. I think you should ask your loan officers to verify most important item you need first before asking for all other not so important documents because I had to scramble through a lot of things that make a lot of phone calls four days five days before the closing to make all the documents prepared and ready. It was a little scary because I thought maybe I took to long but it worked out.

1 year ago

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Justin

It was easier to deal with them than quicken loans. That took like three months instead of one month to close with better.com and everyone was pretty helpful as far as getting the documents and keeping the process moving forward so I was happy with that. I really like the website how you can see all the different terms and rates depending on how much you wanted to pay, it's right there in front of you.

1 year ago

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Jeffrey

I've refinanced a couple times before and the process with Better.com was so much more streamlined than any other experience I've had before. They had the best rates. There was some miscommunication, the automated emails sort of contradicted what I actually needed to do when speaking with the loan officer, but other than that they're great. I would absolutely recommend them.

1 year ago

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Joseph

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1 year ago

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Robert

It was very easy and customer service was insanely good. They were just he best customer service company I've dealt with all year. They respond lightning quick they answer your questions before you ask them and no matter what the request for what they had used to document the information or whatever you needed they had it for you. The customer service is the single best part of this company I mean every single individual I worked with was really working for you.

1 year ago

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Danielle Smith

I was able to refinance from preapproval to signing closing docs in TEN days!! It did help that I had all my documentation to them quickly but they processed everything in record time. The interest rate I chose gave me a lender credit whereas the same rate through Chase was going to cost $1400. Closing costs were half of what they would have been through Chase. We’re very happy with Better and would definitely use them again.

1 year ago

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Mark Johnson Osseo, MN

The website is very easy to use. The people who I worked with were very friendly, helpful, and made the experience stress-free. I was well-informed, and the process went very quickly. I couldn't have been more pleased.

10 months ago

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Madhu Yellamelli Dunellen, NJ

The whole process was seamless and the team was helpful through out the process. It was closed ahead of time. Extremely happy and highly recommend Better.com to anyone planning to refinance their mortgage.

10 months ago

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Carlos Andres Giraldo Leander, TX

Speed to market, easy platform to upload your documentation and closings under 30 days. Quick answer to your questions, low rates and lowest out of pocket expense, by taking on risks other providers won't when laws change.

10 months ago

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Jacob Stolk Salt Lake City, UT

Better.com processed my refi loan efficiently and effectively. For being a mostly digital company it was amazingly easy to get a love person on the phone when I had questions or concerns.

10 months ago