Better Mortgage Mortgage Review 2021
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.
At a glance
4.9
Bankrate Score
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Find my best matchesLoans offered
Conventional fixed-rate and adjustable-rate mortgages, FHA loans, jumbo fixed-rate and adjustable-rate loans, bridge loans, first-time homebuyer program; refinancing options include rate-and-term refinancing and cash-out refinancingNationwide availability
Available in 43 states and the District of Columbia.; not available in Hawaii, Massachusetts, Minnesota, Nevada, New Hampshire, Vermont and VirginiaMin. credit score required
620 for conventional loansPros and cons
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
- Will beat competitor's offer or give you $100; offer only available to applicants who go directly through Better
Cons
- No brick-and-mortar locations
- VA and USDA loans not available
- Home equity loans and home equity lines of credit (HELOCs) not available
Better Mortgage overview
Better Mortgage, also known as Better.com, is an online lender that was established in 2016. Better Mortgage provides a completely online process where rates, loan preapproval and resources are available 24/7. Better Mortgage 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
Loan types
- Conventional fixed-rate mortgages
- Adjustable-rate mortgages
- FHA loans
- Jumbo fixed-rate and adjustable-rate loans
- Bridge loans
- First-time homebuyer program
- Rate-and-term refinancing
- Cash-out refinancing
Lender fees
Better Mortgage 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 Mortgage 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.
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Better Mortgage consumer reviews
4.0
303 reviews
Customer service rating
75% of reviews would recommend this lender
0 of 0 rates honored
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10 of 127 reviews
The consumer 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.
To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Excellent Experience
Dave D | Raleigh, NC | 1/20/2020
Took a shot in the dark, but their people were far more engaging than my current mortgage company and I ended up with a better deal. What more could you ask for?
Response from Better
Hi Dave, we appreciate the positive review and feedback! Sincerely, The Better.com Team
Easy, if you are organized.
Scott | Spokane | 1/23/2020
Better.com had the lowest rate at the time, and the closing costs were way lower than the credit union. In fact the credit union told me I should go with this company as they were unable to come close to matching the rate or the closing costs. I would and have recommended this company to others. ...
Response from Better
Hi Scott, we appreciate the feedback! Glad we were able to provide a good experience! Hope to work with you again in the future. Sincerely, The Better.com Team
Quick and easy
Dude | New Jersey | 1/26/2020
Everything was done online and it was easy to track status and comparison shop for different loans.
Response from Better
Hi Dude, we appreciate the feedback! Sincerely, The Better.com Team
Clear, Easy-To-Follow Experience
David | Chicago | 2/21/2020
Better had an excellent rate that other lenders would not and could not beat. The experience was fast and easy to understand. I would recommend Better Mortgate Co to anyone else.
Response from Better
Hi David, we appreciate the feedback. Not only does it help us improve, but also help other people looking to finance their home find us! We hope to work with you in the future. Sincerely, The Better.com Team
So happy we picked Better!
Linda | Texas | 2/26/2020
The online process was so clean, intuitive and quick...one of the best we’ve experienced. By time other provides even got around to preparing a quote for us, we were already halfway through the process with Better. There are constant updates as you move through each phase of the process. We got q...
Response from Better
Hi Linda, w appreciate the feedback and are glad you had a positive experience with us. We hope to work with you in the future. Sincerely, The Better.com Team
Easy!
A.G. | Arizona | 2/27/2020
I had a very good experience with Better.com for my refinance. Process was really easy and quick. They kept me in the loop at all times and closed when they said they would. Definitely recommend.
Response from Better
Hi AG, we are glad you had a positive experience in getting a refinance with us. We hope to work with you in the future. Sincerely, The Better.com Team
Convenient, Fast Online Experience
Scott | Utah | 2/28/2020
Most experienced staff I have ever worked with for a mortgage. The online process was easy to follow. I knew just what to upload and when the documents had been approved. Very happy with my experience!
Response from Better
Hi Scott, We are glad you had a positive experience working with us! We appreciate the feedback and hope to work with you in the future. Sincerely, The Better.com Team
Overall great experience!
Kyle | Hudson Oaks, TX | 3/3/2020
Easy and convenient online platform with access to a real person when I had questions. Very pleased how quickly my emails were answered. Best rate I found!
Response from Better
Hi Kyle, we appreciate the feedback! Many thanks, The Better.com Team
Better is miles ahead of the competition!
COdesa | Katy, TX | 3/4/2020
This is my best refinance experience, their website is so streamlined, easy to navigate and my whole team was absolutely professional. The only sore spot was the notary that came to Oakland for my closing documents signing. He was downright condescending and unprofessional. I will not hesitate to...
Response from Better
Hello Codesa, we appreciate the feedback. We apologize for that sore spot, please feel free to reach out to our support team at support@better.com if you have any more details in regards to that. We thank you for working with us and hope to work with you in the future. Sincerely, The Better.com Team.
Best refinance experience
Jason | Downingtown, PA | 3/7/2020
Closed in 3 weeks! 2 months faster than the big banks. Everything went so smoothly, communication was amazing. When you call or email, someone answers immediately. Couldn’t recommend them higher.