Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
NMLS: 330511
State License: MB.6761046
Bankrate Score
4.5
User reviews
These user reviews are individual, subjective opinions of reviewers, and not those of Bankrate. We do not endorse the accuracy or relevancy of the information and opinions expressed by any reviewers or any responses to user reviews.
Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
Better.com is an online lender that was established in 2016. Better.com provides a completely online process where rates, loan preapproval, and resources are available 24/7.Better.com provides a variety of mortgage options and loans for homebuyers, including:
Conventional fixed-rate and adjustable-rate mortgages
FHA loans
Jumbo fixed-rate and adjustable-rate loans
Bridge loans
They also offer rate and term refinancing and cash-out refinancing (conventional and FHA) and a first-time homebuyer program.
Nationwide availability
Borrowers in 44 states (all but Nevada, Minnesota, Virginia, Vermont, New Hampshire and Massachusetts) and Washington D.C. can apply for a loan online.
Minimum credit score
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and a debt-to-income ratio of up to 55 percent
Loan types
Conventional fixed-rate and adjustable-rate mortgages, FHA loans, jumbo fixed-rate and adjustable-rate loans, bridge loans, and a first-time homebuyer program. Refinancing options include rate and term refinancing and cash-out refinancing.
Pros
Ideal for tech-savvy borrowers who prefer an online experience, with human customer support available if needed
No commissions or fees charged
Smart technology automatically looks for and applies discounts to eligible borrowers
Automated process yields rate quotes in seconds, a preapproval letter in three minutes and closing within 21 days
If they can't beat a competitor's price, they'll give you $100. The offer is available only to applicants who go directly through Better.
Cons
No brick-and-mortar locations
VA or USDA loans not available
Neither home equity loans nor home equity lines of credit (HELOCs) are available
Find your mortgage match
Get paired with your best mortgage offers in 2 minutes or less.
Conventional fixed-rate and adjustable-rate mortgages, FHA loans, jumbo fixed-rate and adjustable-rate loans, bridge loans, and a first-time homebuyer program. Refinancing options include rate and term refinancing and cash-out refinancing.
Lender fees
Better.com doesn’t charge any lender fees, including application, underwriting and origination fees, saving borrowers an average of $3,500, according to the company.
Minimum borrower requirements
Better.com adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA).
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and a debt-to-income ratio of up to 55 percent. Depending on the loan, a minimum down payment of 3 percent is required.
Borrowers can apply online. After completing a three-minute approval process, the borrower is assigned to a loan officer, whom you can contact anytime throughout the loan process.
Hours
Better.com provides a completely online process where rates, loan preapproval, and resources are available 24/7. Live customer service is open from 9 a.m. to 9 p.m Eastern time Mondays through Fridays and 10 a.m. to 6 p.m. Eastern time Saturdays and Sundays at 415-523-8837.
Better consumer rating and reviews
4.2 reviews
80% recommended
6 years in business. Available 24/7.
NO origination fees, NO application fees, NO commission
Dedicated loan officer to help you weigh options
Fully digital process with pre-approval in as little as 10 minutes
Customer Service Rating
Knowledge
4.3
Level of service
4.4
Professionalism
4.2
Responsiveness
4.3
0 out of 0 rates honored
(275 reviews)
5 Star
4 Star
3 Star
2 Star
1 Star
207
12
6
5
45
The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Showing 10 of 130 Reviews
Shaun
Swansboro, NC
11/5/2019
Easy loan processing
The loan process was easy with Better compared to other companies I have worked with. The ability to follow along the task list makes the whole process easy and always keeps you informed of what is needed next. I was given a gift card just for having an initial phone call. I found a loan with a c...ompetitor that was comparable, but Better used it to improve their loan and put me in an even better financial situation. If I refinance, I will certainly contact Better.com.
Better replied to this:
"Hi Shaun, we really appreciate the feedback! Thank you for taking your time to leave us a review. Sincerely, The Better.com Team"
Knowledge
4.0
Level of service
4.0
Professionalism
5.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Rome
Los Angeles
11/6/2019
Fast and efficient
The process was smooth from start to finish. We had a slight hiccup when the appraisal didn’t come in at what I originally thought, but after a few emails I was able to get exactly what I wanted and closed on time! They were actually ready to close within 22 days but I opted to hold the closing fo...r a date that best suited me. It was a relief to do everything from my phone from picking the rate and term to sending pictures of my documents. Way to go BETTER for really streamlining the entire process!
Better replied to this:
"Hi Rome, we appreciate the feedback and apologize for the hiccup. We are glad to have sorted everything out and hope to get you the best option available. Thank you for the review! Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Phil B.
Trumbull, CT
11/7/2019
Couldn’t have gone smoother
The entire process was very simple. The online tool/website was very user friendly and keep you informed on where you are or what’s needed throughout the entire process. Great experience!
Better replied to this:
"Hi Phil, we appreciate the feedback and appreciate your time for the positive review! Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Mohsin
Houston
11/7/2019
Great experience
I was hesitant at first to go with an online mortgage company. But I took the risk and went with the company due to better rates. Overall the process was smooth. There are a ton of tasks to go through and as long as you keep up with them, the process will move along. There are multiple people that a...re part of the overall closing process so you will have to keep up with them. My realtor also did a good job reaching out to them and was able to get in touch with someone to answer the questions. Overall it was great and will recommend this to anyone that is looking to try an online mortgage company.
Better replied to this:
"Hi Mohsin, thank you for taking the time to leaving a review. We value and appreciate it! We are happy to know you had a positive experience with us! Sincerely, The Better.com Team"
Knowledge
4.0
Level of service
4.0
Professionalism
4.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Anna H.
Bethlehem, PA
11/15/2019
Great pricing! Great experience!
It was a great experience from beginning to end. They also beat all loan estimates I received from other lenders, so I got a great interest rate with no points and even lender credit. They also don’t charge you any origination fees.
Better replied to this:
"Hi Anna, we really appreciate the positive feedback and review. Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Very Happy Customer
New Jersey
11/19/2019
Easy, Fast and Painless
I work for a large mortgage company and know how arduous the purchase process can be. From the initial application to the final closing the process was smooth and seamless. They also beat my companies employees rate. You MUST use this company if you want a hassle free pleasant mortgage experience....
Better replied to this:
"Hi, we appreciate the positive review and happy to hear you had a good experience with us. Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Chad H
Castle Rock, CO
11/20/2019
Super Easy!
This process turned into an absolute no brainier. The closing costs were more than 50% less than my current mortgage holder wanted. If you know you can qualify and you have all your documentation, why not do it on your own. The Better.com team was by far the Better team for me to work with!
Better replied to this:
"Hi Chad, we are glad you had a positive experience with us. We appreciate the positive feedback. Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Ramesh
Cary, NC
11/20/2019
Awesome experience!!!
I am 1st time home buyer. Right from the start of loan application and estimate I was very impressed with their online process. Very smooth, easy to interact, kept me informed at every stage. I highly recommend better.com.
Better replied to this:
"Hi Ramesh, we appreciate the positive feedback. Not only is it valuable to us to get better but also for other borrowers. We are glad to help! Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Prat
Arizona
12/3/2019
Easy, Fast and the Best!
5 stars. I am first time home buyer and the process was easy, fast and very simple. Better.com offered me the best rate when I was shopping around for montage loan and I would definitely recommend it.
Better replied to this:
"Hi Prat, we are glad you had a positive first time experience with us. We appreciate the feedback and truly value it. Not only it helps us but also helps others find us too. Sincerely, The Better.com Team"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
Jesus & Brizette
Red Oak, Texas
12/3/2019
Amazing experience.
We are honestly floored at how amazing our experience was with better.com. This is our first time buying a home but the last time we tried looking into buying, it was horrible. We were being pressured into getting a percentage we were not comfortable with and it left us turned off by the whole idea.... We wish we would have started with better from the start and we would've had our home 2 years ago instead of now. Either way, the experts Lauren, Mike, and Jimmy were great and responded so quickly to any questions we had (which were so many, sorry Lauren.) Uploading our documents was extremely easy. Thank you for making this experience so painless. We will recommend better.com to EVERYONE we know.
