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Better Mortgage

Better offers an online mortgage lending program for borrowers in select states across the nation. The company doesn’t charge lender fees or incentivize its officers with commissions (meaning they shouldn’t try to sell you a loan larger than you need), and it has a referral discount program for its customers.


Better specializes in online mortgage applications and approvals with no lender fees or commissions. Though it doesn’t offer VA or USDA loans, it partners with over 25 lenders and investors to help find rates to suit you.


  • Referral discount program
  • No lender fees or commissions
  • No prepayment penalty


  • Not available in all areas
  • VA and USDA loans not available
Better Mortgage View Rates 

What is Better Mortgage?

Better Mortgage is a direct lender with fully online loan options, simple applications and fast approvals. It offers home purchasing and refinancing options for borrowers, and it provides fast loan processing through an algorithm that matches borrowers to suitable investors. Its preapprovals don’t affect your credit score, and it doesn’t charge lender, application, processing, underwriting or commission fees.

Better offers conventional and jumbo loans with 15-, 20- or 30-year terms and fixed interest rates. It also has variable-rate options. It provides funds for single-family and multifamily homes, townhouses, condos and planned unit development. Better also has loans for foreclosed and bank-owned properties with a C4 rating or higher. It partners with Goldman Sachs, Citigroup, KPCB, American Express, Ally, Pine Brook and Activant.

Better Mortgage services

To qualify for Better, your debt-to-income ratio must be no higher than 35%, and you’ll have to pay closing costs out of pocket. If you buy a home with an agent from Better Real Estate, you’ll save one-eighth of a percentage point on your Better mortgage interest rate. Check current rates on the company’s website (updated in real time). Its customer service is available by email, chat or phone. Better advertises that it closes loans up to ten days faster than the industry standard.

After you submit the application, Better assigns you a loan officer. Within three days of receiving your application, it sends an estimate for your loan, interest rate, monthly payment and closing costs. It guarantees to match any valid competitor’s offer. According to Better, the average new homebuyer saves $19,600 and the average refinance customer saves $7,300 by working with the company. Once you accept an offer, log in to your account any time to see the loan’s progress.

Better Mortgage rates

Better is transparent about its rates on its website. Due to the ever-changing loan marketplaces, though, mortgage interest rates vary widely. Better does charge some additional fees, including escrow deposit and prepaid interest, but it doesn’t make you pay an origination fee. The majority of Better’s mortgage loans over the past year averaged from $150 to $3,500 in closing costs.

Better Mortgage FAQ

Where is Better available?
Better Mortgage is available in 43 states and in Washington, D.C.
Does Better have a refinancing program?
Yes, Better offers a refinancing program for its mortgage loans. These options include fixed-rate and adjustable-rate terms.
Are Better’s mortgage programs totally online?
Better’s mortgage application and approval process are completely online. Appraisals, closing and other mortgage components that follow qualification and funding are not online.
Does Better charge any mortgage fees?
Better doesn’t charge lender, application, processing or underwriting fees, but, as with any mortgage company, be prepared to pay third-party fees and closing costs. Depending on the situation, you might also be responsible for escrow deposits or prepaid interest.

Is Better a good mortgage company?

If you have solid borrower qualifications and want to streamline the mortgage application process, you’ll likely benefit from Better’s online loan-matching and approval system. While it can’t offer closing services online, Better backs up its digital experience with personalized customer support to guide you through the borrowing process. It doesn’t charge lender or unwriting fees, and its loan officers don’t depend on commissions — so they shouldn’t try to oversell you.

Better Mortgage Reviews

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Rated with 1 star
Verified Reviewer
Original review: March 31, 2021

Better Mortgage offers Fannie Mae loans. I was advised by the screening loan officer that I was a great candidate for that loan. We discussed my circumstances in detail, including all obstacles for this type of loan. He said that I was fine, but that he would run it by his team to make sure. Everything seemed fine, and so we went through the whole process for four weeks, with a costly appraisal. The loan fell through because of items that we thoroughly examined before I committed to the process. It really messed things up. I qualify for a home equity loan, but four weeks had gone by, and I had a 30 day window to get financing. Better Mortgage lacks respect for the client.

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    Better Mortgage Company Information

    Company Name:
    Better Mortgage