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Better Mortgage

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Better Mortgage, or, is an unconventional direct lender in the home loan industry that has changed the traditional lending experience. Better Mortgage is an online lender that has made the lending process more accessible, convenient, and affordable for everyone. Through its streamlined online services you can expect an elevated experience in nearly every aspect of the mortgage process, such as low mortgage rates and quick closing times.

If you are looking to buy a house and are interested in a fully remote and digital process then Better Mortgage is a great option to consider. Keep reading our comprehensive look into Better Mortgage or check out Better Mortgage reviews in the customer review section below.

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The Good

  • Fully Digital Process
  • Low Mortgage Rates and Fees
  • Bonus Insurance Services

Fully Digital Process

Because Better Mortgage is fully digital, it streamlines the loan process in a number of ways. For example, the company offers instant loan estimates through its short questionnaire. While many lenders may take a few days to give you a personalized loan estimate, Better Mortgage is able to provide you a personalized loan estimate and pre-approval in just a few minutes.

Not only are its loan estimates quick, but its loan process is exceptionally transparent from start to finish. Better Mortgage understands that buying a house is a huge commitment. It provides peace of mind by providing real-time updates of your loan, 24/7 communication access, and transparent pricing so that there are no surprises along the way.

Better Mortgage's digital process is better than the majority of conventional lenders and is one of the best in comparison to other digital mortgage lenders.

Low Mortgage Rates and Fees

Because Better Mortgage is a fully digital lender, it cuts down a number of lender fees and closing costs, saving you money. Better Mortgage takes those savings and applies it to you by eliminating common fees and reducing mortgage rates. Better Mortgage does not charge an origination fee or a lender commission fee. These two fees combined costs anywhere between 0.5 percent to 2 percent of the loan amount. Eliminating these fees saves you thousands of dollars. Traditional lenders do not offer this same kind of discount, making Better Mortgage a much more affordable option for this benefit alone.

In addition to eliminating common fees, Better Mortgage is also able to offer interest rates that are lower than the industry standards due its cost cutting digital loan process. If you want to check out Better Mortgage’s mortgage rates, you can hop on the Better Mortgage website which offers real time updates of the company's current interest and APR rates.

Bonus Insurance Services

Better Mortgage works with other companies to ensure the best title insurance and homeowners insurance for its borrowers. It works with Better Settlement Services to help smooth over the communication process and close quicker on your home.

It also has a service called Better Cover to help borrowers find the perfect match for homeowners insurance. Through this partnered service, you are able to receive personalized quotes that give you policy and company recommendations. It is rare for a mortgage lender to offer so many services for nearly every part of the home loan process, making Better Mortgage a great option for those who prioritize convenience and ease from start to finish.


The Bad

  • Limited Loan Products

Limited Loan Products

Better Mortgage offers fixed and adjustable rates for conventional and jumbo loans — as well as refinancing services for these loans. While these loan options will be able to satisfy the needs of most borrowers, Better Mortgage does not currently offer any other loan products.

For example, you will not be able to get a FHA loan, VA loan, USDA loan, HELOC, and more. If you are looking for one of these specialty loan options, then you'll have to check with another mortgage lender.


The Bottom Line

Better Mortgage has funded over 25 billions of dollars in home loans and is trusted by thousands of customers. With Better Mortgage, you can almost guarantee that you will be offered a low interest rate and have a stress-free and transparent loan process. The digital aspect of Better Mortgage allows it to cut costs and time in the loan process, while many other traditional mortgage lenders simply can't.

The downside of Better Mortgage is that if you are looking for a government back or subsidized loan, such as a VA loan or FHA loan, you won't be able to receive this type of loan through Better Mortgage. Overall, we highly recommend Better Mortgage if you are in search of a conventional home loan.

For a deeper look, check out Better Mortgage reviews in the customer review section below.

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Jacqueline Roberts Nottingham, MD

Had a bad experience refinancing with Better plus they owe me $550 that they sent to a closed account and now tell me they can’t reissue the payment and my bank says it was returned to them. So right now they owe me! Good luck people

6 months ago

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