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Conventional: 620
Refinance: 620
FHA, VA: 580
Minimum credit score
3%
Minimum down payment (Conventional)
Available in all states
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, Refinance, HELOC, Equity Unlocker |
---|---|
Minimum credit score | Conventional: 620 Refinance: 620 FHA, VA: 580 |
Minimum down payment (Conventional) | 3% |
State availability | Available in all states |
NMLS # | 330511 |
Better is not currently available on Finder
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Better is a digital mortgage lender that could help you save money over traditional lenders that often charge hundreds in origination and application fees. Because there’s no intermediary or retail locations to support, it’s able to offer competitive rates and charge no origination fees or commissions.
The company gets high marks from customers, who praise the company’s service team and online loan portal, which allows you to track your loan status, communicate with your loan team and send in documents. Better also offers special discounts on its mortgages if you use an affiliated real estate agent.
But its home loan selection is somewhat limited, there’s no in-person branches and it’s not available in all states. As a fully digital lender, Better is best suited for the tech-savvy, cost-conscious borrower who knows their way around a computer and prefers to handle everything electronically.
To find out if you’re eligible for a Better home loan, visit the company’s website. Basic eligibility for a mortgage loan includes:
There are varied documents you’ll need to apply for a home loan from Better.
For employed persons:
For self-employed persons:
Better doesn’t charge any lender fees, which means you won’t have to pay an application or origination fee. Note that you’ll still have to pay third-party fees such as appraisal fees, title services and recording charges.
To get started:
This lender offers 10-, 15- and 20-year refinance options, and offers the following types of refinancing:
Better offers a streamlined digital application process to afford you more competitive rates and lower closing costs.
But not everyone is comfortable with a digital-only mortgage application process. Better may appeal more to tech-savvy borrowers who upload documents from their smartphone like second nature.
If you don’t fall into this category, you may want to go with a more traditional lender with local branches or one that offers both digital convenience and in-person support when you need it, such as Freedom Mortgage and Guaranteed Rate.
Find your perfect match by comparing lenders and lender marketplaces by the type of home loan you’re searching for, state availability and minimum credit score for a conventional loan. Select See rates to visit the lender’s website for a personalized quote.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
As of January 2023, Better has a 4.15 out of 5 rating with the Better Business Bureau (BBB) and has been accredited with the BBB since 2018. It has a B rating for having 235 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. This lender is similarly rated on Trustpilot, with a 4.2 out of 5 star TrustScore from 1,524 customer reviews.
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.
Launched in 2016, Better is a digital lender headquartered in New York, NY. Since its inception, Better has funded more than $25 billion in loans. In 2018, Better launched its Better Real Estate division, which helps match buyers to agents. And in 2019, the company introduced Better Cover and Better Settlement Services to help simplify the home insurance and title insurance process.
Better is not currently available on Finder
Have you considered Rocket Mortgage?
Apply online for free and lock in your rate for 90 days.