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Better vs. Guaranteed Rate mortgages

One lender has more loan options, but you'll need good credit to qualify.

Editor's choice: Better

Better logo
  • Quick online preapproval
  • No origination fees
  • Direct lender
Find your rate
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Britny Lawhorn
Posted
Fact checked

How do Better and Guaranteed Rate compare?

Better logo
Guaranteed Rate logo
  • 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

Read review Go to Better site

Read review

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Not available in: HI, MA, MN, NV, NH, VT, VA

Available in all states

Pros

  • Matching technology
  • Better price guarantee
  • 21-day closing commitment
  • Informative website
  • Competitive rates
  • Positive online reviews
  • Online prequalification
  • Mobile app

Cons

  • Not available in all states
  • Limited loan types
  • No branch locations
  • Slow in-person service
  • Need good credit

Customer reviews

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.

Compare mortgage lenders and brokers

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
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Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
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Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
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Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
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LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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