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Better Mortgage Review 2023

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At a glance


NMLS: 330511


Rating: 5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; bridge loan


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans

Pros and cons

Checkmark 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 a preapproval letter in three minutes
  • Will beat competitor's offer or give you $100 (only available to applicants who go directly through Better)

Close X Cons

  • No branch locations
  • No home equity lines of credit (HELOCs) or home equity loans
  • Some government loans not available

Better overview

Better, also known as Better Mortgage, is a direct online lender established in 2016 and providing a completely online process where rates, loan preapprovals and resources are available 24/7. The lender offers a variety of mortgage options, including conventional and jumbo fixed-rate and adjustable-rate mortgages and bridge loans. The lender also offers rate-and-term and cash-out refinancing and a first-time homebuyer program. You’ll be able to secure a preapproval in as little as three minutes and can close a mortgage in as few as 21 days, although 30 to 45 days for a purchase is typical. Notably, borrowers who are also Chime customers can currently save $500 on closing costs when getting a mortgage with the lender, and some American Express cardholders can get an up to $6,000 credit to their statement. For both promotions, you’ll need to meet certain parameters to qualify.

Better is good for

Around-the-clock support and speed

Breakdown of Better overall score

  • Affordability: As of this review, Better’s mortgage rates were lower than Bankrate’s averages, and the lender doesn’t charge any fees.

  • Availability: You can compare loan options from Better no matter where you live, as the lender operates nationwide. It only offers conventional, FHA and VA loans, however.

  • Borrower experience: J.D. Power rated this lender below average for customer satisfaction in its 2022 mortgage origination study. A bright spot, however: You can easily contact Better any time with questions.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 5/5

Better displays mortgage rates on its website and updates them several times a day. To use the rate tool to obtain a personalized quote, however, you’ll be prompted to sign up for emails from the lender that contain mortgage news and promotions. Notably, the lender doesn’t charge any origination, application or processing or underwriting fees.

Availability: 5/5

Better works with borrowers across the U.S., offering conventional, FHA and VA loans as well as some creative financing options like bridge loans. If you’re looking for a USDA loan or home equity options, you’ll need to go to another lender.

Borrower experience: 4.7/5

As of this review, Better has a B rating from the Better Business Bureau and a 4.2 out of five stars from Trustpilot, indicating “Excellent” reviews. The lender ranked below industry average, however, in J.D. Power’s 2022 mortgage origination survey for customer satisfaction.

As an online-only lender, Better accepts applications and facilitates preapprovals through its website, and its live customer support is available 24/7 by phone. The website also features many resources for borrowers, including home affordability, amortization and refinance calculators, to help you weigh different loan scenarios. In addition, you’ll be able to sign most of your closing documents via e-signature, which can save time on the route to closing.

Refinancing with Better

For borrowers interested in refinancing, Better offers options including rate-and-term and cash-out. While the lender doesn’t charge an origination fee (or any other lender fees), your refinance will come with other closing costs from third parties, such as the appraisal fee.

Alternatives to Better


Better consumer reviews


NMLS: 330511


Rating: 4.3 stars out of 5

1335 reviews

5 stars
4 stars
3 stars
2 stars
1 stars

About consumer ratings

Customer service rating

Rating: 4.4 stars out of 5
Level of service
Rating: 4.4 stars out of 5
Rating: 4.3 stars out of 5
Rating: 4.3 stars out of 5

83% of reviews would recommend this lender

10 of 10 rates honored

Review this lender

Write a review of your experience with Better.

of 186 reviews

The consumer reviews posted on ("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.

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Written by

Ruben Caginalp

Associate writer

Ruben Çağınalp is an associate writer for Bankrate, focusing on mortgage topics.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor