How do Better and Guaranteed Rate compare?
- Choose this lender for low closing costs
- Choose something else if you want to pick your loan servicer
- A good option for borrowers looking for a conventional or FHA loan
- Choose this lender for competitive rates
- Watch out for slow customer service at branch locations
- A good option if you have good credit and a steady income
Neither of these seems the right fit?
Not available in: HI, MA, MN, NV, NH, VT, VA
- Matching technology
- Better price guarantee
- 21-day closing commitment
- Informative website
- Competitive rates
- Positive online reviews
- Online prequalification
- Mobile app
- Not available in all states
- Limited loan types
- No branch locations
- Slow in-person service
- Need good credit
As of March 2021, Better has a 3.98 out of 5 rating with the Better Business Bureau (BBB) and a 4.1 out of 5 rating on Zillow from hundreds of customers. Better has been accredited with the BBB since 2018 and has an A- rating with 54 complaints registered over the last three years. Several BBB complaints are related to Better’s $550 appraisal fee, which is required to lock in the interest rate.
Customer reviews — both positive and negative — tend to focus on how automated the loan process is, with several reviewers comparing it to an assembly line. When everything runs smoothly, loans are completed on time and the process is simple. But when there’s an issue, some users complain that it’s hard to get any personalized help.
Reviews on its site state that most of its customers recommend Guaranteed Rate to their friends or family. And its online reviews are mostly positive, with customers saying the site is easy to use and its agents and customer service staff were helpful. Many say they received a better than expected rate and lower fees than they were quoted elsewhere.
It has 4.5 out of 5 stars with the Better Business Bureau. Negative reviews tend to focus on customer service experiences with individual agents.
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