BETTER 2019
IN-DEPTH REVIEW

Read expert review of Better. Find the Top 10 Mortgage Loans services for your needs with detailed reviews and comparison

9.5

Overview

Founded in 2014, Better.com offers an entirely online mortgage process where they help prospective homeowners find the best mortgage or refinance loan based on their financial goals. Because the service is offered entirely online, the cost of originating and completing the mortgage is minimized, meaning you, as the consumer, save money on your mortgage loan.

Better.com's website is well designed with helpful resources that will better educate and prepare you for this major financial decision. Once you have reviewed the site and are ready to apply, you can expect an easy application form and can receive approval in as fast as one hour.

Eligibility Process

When purchasing a new home, the last thing you want as a buyer is a complicated mortgage process. Thankfully, Better.com offers an extremely simple application process that takes about 3 minutes and is done entirely online. This is great whether or not you have a specific home for purchase in mind or if you want to see what homes are available in your price range.

Once the form is submitted, Better.com will display a screen of different mortgage rates and terms allowing you to choose the option that best suits your budget and goals. Next is the preliminary approval process where you'll need to provide personal information, documents regarding the property, and, if you are looking to refinance a mortgage, you'll also need information about your current mortgage. This entire process takes just a few minutes, and closing the loan can take as little as 30 minutes.

Fees & Rates

One of our favorite things about Better.com's mortgage process is their “Check Today’s Rates” feature. You simply input your zip code, credit score, home value, and, down payment amount, and within seconds, Better.com will provide you with a number of different loan options. You'll be able to view today's APR and check what potential loans you could qualify for. 

All of Better.com’s mortgages are backed by the Better Price Guarantee. This ensures that Better.com won't just beat a competing mortgage loan, they will pay either beat it by at least $1000 or pay you $1000 in cash.

Repayment Terms

Better.com's repayment terms can vary based on your credit score, mortgage amount, down payment, and more. In general, they offer fixed-rate mortgage loans for purchase or refinance with terms of 15, 20, or 30 years. Adjustable-rate loans are available in 5/1, 7/1, and 10/1. 

Customer Support

Better.com makes it extremely easy for customers to find more information or get in touch with a Better mortgage expert. They provide every applicant with a dedicated loan officer who will guide you through the mortgage process.

Customer support is available by email, phone, or by scheduling a phone appointment through their online form. Your loan officer and customer support are available from 9AM to 9PM ET Monday-Thursday, 9AM to 6PM ET on Friday, 12PM to 4PM ET on Saturdays, and 12PM to 6PM ET on Sunday. 

PROS
  • Easy online approval
  • Low down payments
CONS
  • No USDA, VA, or USDA loans
  • Unavailable in some states
BOTTOM LINE
Fully online mortgage backed by the Better Price Guarantee.
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Joe Schwartz

Mortgage Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.