So you can use your phone, computer, or another device to: With Better, the whole idea is an end–to–end online experience. It’s not yet licensed in all states and is missing some major loan types, like VA and USDA loans. Better does business almost exclusively online – you can speak to loan officers over the phone, but don’t expect face–to–face communication.Īnd, because Better was founded so recently, the company is still building out its mortgage offerings. If you’re the kind of tech–first shopper who dreads going into a bank branch to fill out paperwork, Better’s business model might be perfect for you.īut there are some downsides. “We prioritize the consumer experience through an online process, with instant loan estimates, honest rate quotes and 24–hour verified pre–approvals, all complemented by support from non–commissioned loan officers.”Īnd the company delivers on that promise for many people. “Our mission is to change the way Americans buy and refinance their home by delivering lower rates, faster closing times and a radically transparent, technology–driven process. When asked to contribute to this Better mortgage review, a company spokesperson said: Your own refinance rate may be higher or lower than what you see on Better’s website based on your loan size, credit score, debt–to–income ratio (DTI), and other factors. They tend to be on par with or slightly lower than other big mortgage companies.īut you’ll have to apply to see if you actually qualify for the refinance rate advertised. Average mortgage rates at major lendersĪverage rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).īetter refinance rates are similar to its mortgage rates. So make sure you shop around to find your best deal. In short, borrowers with Better Mortgage could stand to save a lot. It even eliminates the “origination fee” altogether (which is typically around 1% of the loan amount). But Better Mortgage may be one of them.Īlong with generally low mortgage rates, Better offers substantially lower fees than other lenders. There are relatively few lenders that consistently offer lower rates and closing costs than their competitors. Is Better the best mortgage lender for you?.Where can you get a mortgage with Better?.Types of loans offered by Better Mortgage.Customer service and mortgage servicing.
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