Better Mortgage Corporation was founded in 2016 as a direct lender company that uses technology to offer borrowers a quick and transparent digital mortgage experience.
Backed by heavy-hitting investors like Goldman Sachs, American Express, Citi Bank, and Kleiner Perkins, Better Mortgage Corporation has funded over $28 billion in mortgage loans to its customers.
Better Mortgage Corporation is a lender created for the online age. While many mortgage lenders offer online applications, Better Mortgages takes it a step further, with their proprietary algorithm which enables them to assess and approve home buyers from a wide range of backgrounds.
Because of its mostly digital platform, Better Mortgage is able to save on a ton of overhead costs, which means they’re able to charge their borrowers less. In fact, they don’t charge any origination fees, lender fees, or commissions. The platform is completely digital, from beginning to end. Upon completion of your application, you can log in at any moment to check on your application process.
What makes Better Mortgage Corporation unique is that it only offers conforming loans, with a choice between fixed and adjustable rate mortgages. In addition to conventional mortgages, it also offers a variety of other benefits and products.
Here are a few of the products available:
● Better Settlement Services. When you’re deep enough into the application process and are looking to get third-party closing costs figured out, Better can help match you with third-party services that are affordable. Their nationwide notary network is able to meet you in person wherever you need.
● Better Cover. If you’re buying a home or simply refinancing, you’ll still need home insurance. Better Mortgage Corporation can also match you with the right home insurance agent within seconds, using the information you’ve already entered into your application. You don’t have to do anything else except pick the insurance you’d like.
● Better Real Estate. If you’re still looking for a home, or haven’t started yet, Better can match you with a trusted real estate agent to help you with the home-buying process. Simply tell Better what you’re looking for in a house, and they’ll match you up with a specialist, passing along the savings right to you (up to $2,000 off closing costs).
Mortgage Loan Rates & Terms
Better’s repayment terms are either 15, 20, or 30 years, and 5/1, 7/1, and 10/1 options for adjustable rate loans. Because all of Better Mortgage’s loans don’t have prepayment penalties, you’ll be able to pay back the loan quicker if you wish, saving you thousands in the process.
Better Mortgage’s average closing costs work out to $3,598 in third-party fees for purchasing a loan. For a refinancing loan, they come to $1,824, on average.
Better has extremely competitive rates. And, most importantly, they offer transparent, real-time rates on their websites without having to make a formal request.
- Almost completely digital application process
- Algorithms don’t require a hard credit check
- No lender or origination fees
- Not available in every state
- 3-6 weeks processing time is a bit longer than other digital lenders
- No government-backed loans
- Better could transfer your loan to another service provider
Better Application Process
Better has a completely online application process which takes about 3 minutes for homebuyers looking for basic pre-approval. And while the website indicates that it can take up to 2 hours when shopping for a home and 30 minutes if you’ve already found a specific property to buy, the application for refinancing only takes a few minutes.
Once you fill out a form with a couple basic questions about your financial picture, prospective property, or home equity, you’ll be given an initial loan estimate. Next, you’ll be connected with one of Better’s dedicated loan officers for extra support along the way.
Once you’ve completed a few tasks including documentation, you’ll receive a loan estimate and will be able to request a locked-in rate. Better Mortgages typically closes a mortgage loan in 3-6 weeks after you’ve locked in a rate.
For customer support, Better offers a single dedicated loan officer for every customer which is a great addition to their baseline support. The loan officer will help you throughout the entire loan process, wherever you need help.
Their baseline support includes email and you can get in touch by emailing firstname.lastname@example.org. Or, you can call in by phone to request a convenient time for a support rep to call you back (or request a call through an online form).
Your loan officer and regular customer support are open from:
Better also has a ton of information on their website including educational resources and also includes a simple FAQ section.
Final Thoughts on Better
So, should you use Better.com to access a home mortgage loan?
Better is one of the best tech-driven digital mortgage lenders on the market. With a quick loan application process compared to traditional means, competitive rates, and no origination or lender fees, it’s one of the best options available when looking for a loan.
While they do impose a minimum credit score of 620 like most lenders, their algorithm makes it much easier to secure a loan for scores between 620-700 (compared to their competitors).
Any borrowers that meet the minimum 620 credit score will be able to secure a loan with Better. However, the group that will benefit the most from Better’s services are minority borrowers who have had difficulty getting approved by traditional mortgage lenders.
No, unfortunately, they do not offer any commercial construction loans at the moment.
Yes, Better will service your mortgage, but they won’t necessarily do it for the lifetime of your loan. At some point in time, Better.com may transfer your loan to a permanent provider. It has a large roster of mortgage investors and servicers, including banks, government entities, and other firms. They will contact you if they transfer your loan to a third party.
Better Mortgage Customer Testimonials
Great 652 Reviews
20 October, 2021
Very good rates
Very good rates - if you don't need a lot of help in the refinance process - Better was great option
19 October, 2021
This company left their customers…
This company left their customers totally lost through the COVID. Every time I want to swim, the app doesn't recognise my email or the password. The truth is I stopped swimming as I spent more time on trying to book or coment on their policy that it is worth. Last time I had to travel to that place and their worker spend and hour trying to resolve the problem and only then I could use the pool. I think they are profiling their customers and let some swim and some other not. However you can find info on theit website that the pool is for everyone. Good joke! What about elderly with no apps? Is this equality???! We want to be able to buy tickets in person like we used to and I don't thik it is ethical to let one company run all swimming pools in UK !!! Good day everyone.
19 October, 2021
I was contacted by Better and I liked the convenience of the whole process.
I was contacted by Better and I liked the numbers they spoke of but better I was able to see how thing would work out via the website. The whole process was simple and working with the reps was very easy as well. The thing that allowed me to continue with Better was the low closing costs.
19 October, 2021
Will lie to you about getting a rebate! Incompetent and frustrating too boot.
Better.com promised a 1% rebate on the purchase price of my home if I worked with their referred realtor. I spoke to multiple people, multiple times that all promised this in writing and verbally. Guess what, more than a month after closing I still haven't received the rebate and no one will return my calls or emails. The last I heard was weeks ago and they were working on it. Not true! It's not worth the headache. I've spent hours trying to get them to deal with this and I can't get through to anyone. They are utterly incompetent but claim that they will always be available. A local loan officer will actually return your calls and keep their promises because they have to be accountable to everyone else in their local community, not like this giant corporation. Also, Alan Youngberg was my person and lied through his teeth throughout the whole process. Would never return my calls, emails, or texts. Wish I had walked away before it was too late. The other people who made these promises included Lawrence Lee with Better Realty and Timothy Abogado/TJ Abogado. The process of dealing with all of their "tasks" is a nightmare. It's all a poorly designed website made by someone who knows nothing about UI and seems to take pleasure in making things as frustrating as possible. Because it's a big corporation that is trying to streamline everything, it ends up taking way longer than necessary. You have no option to just send your documents to them or answer the questions directly. If the question doesn't apply to you, good luck getting them to take the "task" off your to do list and let you move to the next step. On top of that, the majority of the people I spoke to literally understood less about mortgages than I, a layperson, did. Including someone (who I am feeling kind enough at this point to not name) who was supposed to answer my questions about something on my initial closing disclosure who kept insisting we should look at the loan estimate instead because it was easier to understand. When I tried to explain that made no sense because it was no longer up to date, my question had to do with the closing disclosure numbers, not the loan estimate numbers, and that I felt confident looking at the closing disclosure, he finally disclosed that HE did not know how to interpret it.
18 October, 2021
I saw an ad on Facebook or TV for…
I saw an ad on Facebook or TV for Better and I really liked the idea of saving money. The process was so much easier than going into a typical mortgage lender’s office and we saved about $6k in closing costs compared to another quote I had gotten. My favorite part of the whole process was being able to upload everything and check the status of whether the documents had been looked at. I will definitely be recommending Better.com to friends and family.
18 October, 2021
Overall a very good experience
Overall a very good experience. My representatives were both very knowledgeable and timely with responses which helped ease my mind during the process.
17 October, 2021
We refinanced our home
We refinanced our home, and the process was seamless from beginning to end. Tarun and her team were amazing to work with. They are knowledgeable, professional, and best of all, responsive to questions or concerns. I would highly recommend Better to anyone looking to finance or refinance their home.
16 October, 2021
Was looking to Refinance Home and…
Was looking to Refinance Home and decided to try an Online Lender. After some investigation I decided to use Better Mortgage. I have Refinanced before but always at the Bank, so needless to say I was little nervous about doing this on my own. Turns out the process is Super Easy. You just need to complete the Tasks that are assigned and upload some documents. The customer service was Great. My Advisor Jessie answered any questions I had promptly. I would highly recommend Better for any of your Mortgage needs.
16 October, 2021
Simple and positive online process
I shopped around and Better had the best closing cost and rates. The process was easy, everything was done online and I closed on time and I had no added costs or surprises. Very honest and great customer service.
15 October, 2021
Second refi in a matter of months…
This was my second refinance over the past couple of months. Refinancing my investment property didn’t go as smoothly as my residence. I first applied in July and had an appraisal done. The appraiser (who was “new and unfamiliar” to the area) assessed my house at $151 a foot. I provided details as to why that was incorrect and my request to reevaluate the appraisal we denied. I asked for another appraisal to be done and was told the only way to have another appraisal was to go through the application process again. At no point was I told I would be subject to “worst case” pricing or additional points if I go through another application. So I applied again hoping someone more reasonable would appraise my house. Someone with more knowledge or the area. I applied at the end of august and zero communication for weeks. I had to follow up with your team to find out when I was going to have the appraisal scheduled. I was told the appraisal company wasn’t reaching out Bc they saw I had a recent appraisal done but they were able to get the ball rolling again. So a month after I paid for the appraisal it was completed and viola!! They appraised it at $260,000, $24,000 more than the previous appraiser. So I’m disappointed in the communication or lack there of and I’m highly unsatisfied that I was penalized the way I was especially being a two time borrower who has nearly $600,000 in home loans with you all now. If the investment refi was my first experience I wouldnt have refinanced my primary residence. This is an offstage complaint. I am not taking this onstage because I would hope someone with authority will respond to my complaint.
15 October, 2021
Better.com made our refi simple
Better Mortgage (Better.com) made the refi process straightforward, smooth, and easy. Communication was great from the start. They presented a few excellent refi options for us to choose from right from the beginning. Our Loan Specialist, Tyler was always quick to respond to any questions and concerns. (You also need to do your part and get them all your info promptly when requested!) We Closed rather quickly, too. Very good experience. Thank you!
15 October, 2021
Not an easy refinance experience
Not an easy refinance experience. All task documents in the portal was sent in pieces and had to login numerous times (20+ times). Funding Instructions where not clear for using a cashiers check. I found out afterwards that you can use a cashiers check if it’s over $2500. Cost me about $400 in penalties because I made a late payment to my current loan, the instructions said not to make a payment because it could have extra fees (never made a late payment). Lastly the notary missed a section to sign and had to come back. So in conclusion everything did not go smoothly compared to my previous experience.
15 October, 2021
Painless and very competitive refi
The refinance process was simple and the rate offered was excellent. I had to do a little "legwork" calling my homeowners insurer and had to reschedule closing twice as I explored the right amount of cash to take out. Other than that, the online checklist and use of e-signing made the process painless with minimal text support from my loan advisor. I would definitely recommend Better based on my experience.
15 October, 2021
Better gave me a great rate and as a…
Better gave me a great rate and as a first time buyer I really liked how simple their website is - they send you one "task" at a time, that typically takes 2 minutes, with explanations on what it means, etc. Will definitely use again if I ever buy another home! I worked with Alvin - who was very friendly and informative.
ANDREA IGNACIO PETERSON
15 October, 2021
I will say that this is my 2nd refinance with Better. Unlike the first refi, this experience was stressful, unorganized, irritating, showed lack of attention to customer service, lack of communication skills and unprofessional as if I was dealing with people who did not know how to do their job. Too many hands on the file and no communication amongst coworkers. Repetitive and redundancy. Closing was a nightmare had to sign 2x wrong information when it was explained to make sure there wouldn't be any mistake. It was as if the questions asked and the answers given were outright ignored, thus when Notary arrived it was ALL wrong, but was told don't worry still sign call Better let them know. It will be ok. So then had to resign a second time and only to find out a week later, only because I emailed Ashley asking when is funding taking place since it was to be 3 days after signing and then was told oh, you have tasks to do. No auto emails were sent out letting me know when things were needed on a consistent basis. Emails were unanswered for 2 to 3 days, until I complained and included manager did it get better but only to revert back to the same non-communication at closing. I signed on September 27 and October 6. Didn't get any calls emails or texts letting me know they needed the rescission docs yet again until I emailed Ashly on the 13th, because I'm getting notified and calls from Mr. Cooper my existing loan that I'm being charged a late fee and need to make payment by the 14th or incur another 98.00 in fees as well as Fremont Bank notifying me my payment is due. She then sends me an email saying oh, we need you to sign the recission letter. We can't fund unless we have that. Well we all signed the recission letter 2x before and now 3 is a charm. I told her my displeasure how I felt and she said Sorry, but at least we are at the end that's all we need and you will be funded on the 12th. Well it was the 13th. Shows how much attention to detail she had with my file. So after that is done. I get an email 10-14 a.m. stating FANNIE MAE guidelines needs and updated letter from your CPA to close we can't close unless the letter from your CPA is dated 10 days of the closing. Well, had there not been all these mistakes or had someone known we had to sign yet a 2nd time they should have taken care of it then. I am on vacation for my birthday and I have to deal with this, recontact my CPA to update the letter send it back as they tell me that this is the last thing they need to fund. Well yet again another display of incompetency and such disorganization. I get it done and receive an email hours later telling me congratulations your loan is funded. Of course I go check and see and it is NOT. I was told by Reilly Carter to go ahead and pay my mortgage to ensure that I don't get a negative reporting on my Credit Report as that was my main concern. I could go on and on with other issues throughout this process, but I would never refi with Better again. This was so stressful, and I just felt like another number. No personal touch did not feel like I was a value to your company but just another computer-generated file. The left hand is definitely not letting the right hand know what they are doing as if everyone is running around with their heads cut off. I would not refer Better to any of my colleagues or friends.... I really hope you all can get organized and perhaps train your staff how to communicate and fix the algorithms on your system to better streamline the process and notify clients when tasks are needed or you need additional information. And definitely DON'T have clients sign closing docs when you have an incomplete file. Signing the closing docs to a consumer means we are DONE. I should NOT have to be running around signing rescission letters 3x having my CPA write and rewrite letters after the fact. One dissatisfied customer's experience spreads faster than wildfire than 12 happy customers.
15 October, 2021
Brooke Manson was our home advisor and I can not say enough great things about her and her support throughout my home buying process!! Would recommend Better to anyone looking to buy a home.
15 October, 2021
What a great experience !
I can't be anymore happier with the whole process and the entire team of employees that handled my loan! Every single question I ever had was answered in a timely manner and explained in further detail then I originally asked. Everything went extremely well from day one when I started using the online process and all the way to settlement at my home. I can't say enough good things!
15 October, 2021
I can honestly say I miss hearing from…
I can honestly say I miss hearing from kelsey. In the beginning we had a learning curve. I had to learn. Made me crabby. Kelsey was so professional yet understood frustration of paper work. Couldn't do her job. If she's free she's welcome to thanksgiving here. Wanette Blaser
15 October, 2021
I discovered Better.com after reading positive reviews on Bankrate.com
I discovered Better.com after reading great reviews on Bankrate.com. Eric, my home advisor was the best! He answered all of my questions in a timely manner and guided me through the entire process. This was the smoothest refi process and my attorney who did the closing told me this was the easiest mortgage company that he had dealt with in recent years and he told me he was going to refinance through better.com. Eric, thank you so much!
14 October, 2021
Everything halted after title clearance.
Everything went smoothly and very efficiently in beginning from application to submitting all documents to appraisal and title clearance (within a week). Then everything just got halted for no reason. and delayed closing and funding by a week. I have to follow up each day to make sure things are on track. I was not happy for the later part of process after title clearance.
14 October, 2021
We deal with a lot of lenders, and this is one of most frustrating companies to deal with!
13 October, 2021
Second Refinance with Better
This was my second refinance with Better mortgage. Overall the process was smooth and streamlined. There were very few hiccups along the way but my mortgage advisor was able to address and solve the issues we had.
13 October, 2021
The entire process was amazingly straighforward
The entire process was amazingly straightforward. It was always clear that the next step was, I had no trouble following the instructions online, and it all happened in record time. 10/10 would refinance again, didn't know it could be this simple.
12 October, 2021
Krys and the gang are astonishingly…
Krys and the gang are astonishingly good at their jobs. Throughout the entire process, they've been the friendliest, smartest, most responsive group of humans in existence. If we could have hired them to take care of the rest of the process, from home-searching to moving, we would have! Best in the business.
10 October, 2021
Better.com really is BETTER!!!
We had an absolutely wonderful experience with Better.com in our recent mortgage loan refinance in three very important and critical ways: (1) we locked in an historically low 2.5 percent interest rate on a 30-year mortgage loan with zero points; (2) the entire process, from initial loan application to closing took only about 18 calendar days; and (3) there were zero loan fees -- repeat, ZERO -- along with title costs that were incredibly low. We're still wondering how Better.com made any money. By contrast, last year we did a refinance with a regional loan company in which we paid over twice as much in title costs plus nearly $1200 in loan origination fees -- what a ripoff compared to Better.com. As for their loan processing and customer service, we also felt that they were exemplary: all of our borrower "tasks" were always clearly explained by their web-based system and then immediately processed. Similarly, any questions we had (and we had quite a few) were quickly and courteously answered by email or phone calls. Our experience is proof that Better.com is a shining example of Fintech at its finest. Better.com really is better!!!
07 October, 2021
Empty promises and excuses. Do not use them!!!!
The initial process was quick and I got approval fairly quick as well. But afterwards, everything else fell apart. We had to postpone the first closing due to better.com scheduling the closing and then not providing any explanation around the cost on the disclosure until 1 hour before the closing at which time I canceled the closing. The second attempt for whatever reason better.com canceled without explanation and with some excuses about the title company having messed up and they have "no control" over them. On the third attempt, they promised me to have everything in place and confirmed 24 hours before the scheduled closing. It's now 7 hours before the scheduled closing and I have still not heard from them nor received any updated paperwork, scheduling information, etc. DO NOT USE BETTER.COM The only thing you will get from them is empty promises and excuses if you hear from them at all.
05 October, 2021
Please save yourself from this experience
I'm not normally one to write long reviews, but if I can save just one person from having an experience like mine, I have to in this case. Better.com is the worst kind of digital company. They want all of the cost savings associated with being an online only originator, but don't deliver at all on the experience. Be prepared for ridiculous delays (we will get back to you within 24 hours claim is a joke), being forced to submit the same documentation over and over again with no explanation, and in the end having random decisions with no reasonable explanation. I applied with high credit score and 15 year employment history with the same company. The mortgage amount was less than my annual income and I have more than enough cash in the bank to pay it off. For this low risk case, they somehow managed to drag out the process for four months. The low point for me was having to submit the same form for the fifth time after having it repeatedly rejected with no explanation (it was finally revealed that I had to check a box with a pen rather than typing an x on the computer). After uncountable similarly frustrating experiences, I thought I had finally emerged from their torturous process when I got my approval notification and a task to schedule my closing. How wrong I was! They follow this up with a text saying that they will now not move forward with my loan. Their stated reason: I travel too much for work. I don't even know how to respond to that.
02 October, 2021
Shady, disorganized and dishonest
Spent dozens of hours on a refi application, and hundreds of dollars on an appraisal, only to get rejected at the end despite meeting credit score and income and other requirements. The product is buggy, the employees are dishonest, and the promised refund on the appraisal was never actually paid. Stay far away from better.com.
01 October, 2021
Never use again - broken processes
Their flash tech savvy appearance is merely a charade. The processes are bumpier than faxing things around always pointing you to another person rather than being able to answer your questions. Staff were not knowledgeable about the basic of how a mortgage or escrow worked. They hand off your loan immediately to a never ending chain of sellers so you have to create a new account every two months. Complete waste of time throughout the whole process and continuing to be a massive suck.
23 September, 2021
My experience with Better.com was a huge waste of time, money, and emotional duress
Update: I was able to get a formal letter of loan denial from better after writing this review. Hilariously, the reasons listed for my denial are not any of the ones I listed below. They seem to be picked at random (Too many delinquent accounts? I have no delinquent accounts) so I guess the bots at Better just randomly selected me to get turned down. Sweet. -- This is a sham business with Kafka-esque communication and customer service process. Do NOT be taken in by their low interest rates and tech-savvy appearance. I was preapproved for a mortgage by Better on 7/19/21. At multiple times in this process, I asked my contact, Julia, if I would be approved considering I have an unconventional income and have been denied loans in the past due to this. She assured me it would not be a problem. (In retrospect I believe Julia had no professional knowledge and never really knew what she was talking about, nor did any of the dozens of minions I was rerouted to whenever I tried to contact my loan consultant.) With that information I booked travel to my desired location. I was given ANOTHER pre-approval letter on 8/19/21 to reflect the house's cost. I put in an offer on 8/19/21 and it was accepted 8/20/21. On 9/20/21, one month later, after putting down earnest money, paying for inspections and insurance, booking another trip for closing, expediting my divorce (really) to confirm I had no financial liability in my separation, and paying a $550 "rate locking fee" I was told I had been denied. The reasons I was given could have been detected in the pre-approval process, which is why I asked over and over again at the top of this process. Worse, they determined that the apartment I rent negatively affected my debt-to-income ratio. I DISCLOSED MY RENT IN THE PRE-APPROVAL PROCESS. My loan consultant Jonathan denied this. Later, he took it back, confirming that I had indeed disclosed my rent. (LOL.) They assumed I wouldn't be paying it anymore. Why would you assume that? It was as if nobody had looked at my financials before then. Worse, I was instantly locked out of my account and can't contact anyone there or get any documentation of my application and denial. My emails and calls go unanswered (my calls are often just dropped.) I have no recourse but to leave reviews like this and hope nobody else gives this rickety tin can of a company their business. (I also suspect many of these positive reviews, which sound suspiciously familiar, are plants.)
22 September, 2021
It started out great and then it all…
It started out great and then it all went downhill. Multiple requests for the same documentation, lack of understanding of anything that didn't follow their template/check list. Not sure if they have actual loan officers with field experience nor an underwriting team that knows the business. I'm almost 2 months in and still not sure when I will close. Their appraisal company came in 20k less than previous appraisal with no explanation and used lower comps. And there are hidden fees so beware! I should have continued with Rocket Mortgage because this has been a nightmare and I was a real loan officer for 5 years.
19 September, 2021
Unprofessional Liars - Avoid!
Started process with them on May 4th, supposedly cleared title 2 weeks later. Claim was that they were "looking for an appraiser" since my property had some acreage attached and "only certain people were able to appraise these types". Got several follow-up emails asking about the parcels and their descriptions, literally asking the exact same questions. They couldn't wrap their brains around the fact that the mortgage covered more than one parcel. At some point during this, I got an email saying they had to look for another appraiser because "I never responded to messages from the appraiser." This was a complete lie, confirmed. After 2 months of waiting, I finally called a supervisor, who told me in fact that the appraisal wasn't ordered in May, but at the END OF JULY because of their incompetence dealing with the two parcels. So after 4 months of waiting, lots of back and forth, and lots of lies, I get an email saying they are closing my application because they "can't find anyone willing to appraise the property" when I know for a fact the company who appraised it less than 2 years ago is still operating and not very far from the property (about an hour away), not uncommon for rural properties. AVOID THESE LIARS LIKE THE PLAGUE. And to think the email said, please consider us in the future. I've never had a team of more incompetent amateurs all the way up to the supervisors in my life... yeah, right.
LANTERFAM LIONS DEN
14 September, 2021
Constant battle - processed my own loan
Update: we closed but they are refusing to pay the HOI. Waiting on the renewal. You have to pay HOI if you are not impounded out 60 days and we closed in time for that, after 60 days you have to get the renewal. Better sat on our money for weeks and waited until the 24th of this month so they can now say they need the renewal (they ignored us for weeks after closing). We have two CFPB complaints in - one for the process one for holding money and not dispersing on the HOI. Oh! Also they collected six months of HOI and argued with me they collected only three. It’s on our closing CD and I kept getting lectures from the team lead on reading a CD I finally cut and paste the pre paids and she hasnt responded. Do not go to this lender! As an industry insider beware and I’m glad so many people have read this review per the email I got today. I dont want someone - especially a layman - having to be in our situation. Just be careful! They respond to these reviews but dont reach out, in typical Better fashion they say reach out to them and we have! No results. When I did loans it mattered to me what happened.... sad. Below is prior review. I will be littering the internet with our story. Constant battle getting title ordered and fees charged as well as the CD and HOI costs and income they had wrong, but they finally realized they had income wrong (took two weeks) and then we emailed daily to get the loan to funding. We hung in there for the rate but it’s not worth the small amount we will save each month. By far the worst experience in 25 years of owning a home twice and refinancing three times. The process is so broken down no one knows what is going on, they cannot read a credit report and had debts counted that were authorized signer debts and in the beginning we asked about being vested in an LLC and no response. Then a month later we had to submit a document regarding a business that closed in May of 2020 that was in the LLC... due to current vesting. It’s so backward and slow.... I mean good credit, W2 employee, no brainer! Go elsewhere. We filed a complaint with the CFPB and as of today the loan has not funded as they asked for the RTC but have all other docs. Do they have money flow issues because they should have all documentation and luckily we took pictures of the important items we signed! What a nightmare. Who knows if it will close.
11 September, 2021
Don't even think about it
Same as most other reviews, you need to talk about something, good luck! The loan "officer" assigned never answered phone or email. Worked with wrong loan payoff till last day, you are paying points you are not told about and discounts you never see. I only got some movement when I told them to cancel notary appointment as I was decided to not sign. The low rate you see is due to points you're never told about and zero closing cost are just your imagination. Better go with some other lender.
09 September, 2021
This process sucks. 🤬😡
Still waiting… month and a half later, for a basic appraisal to complete. Bank says “nothing we can do”. This is probably the worst experience imaginable. Having to find another backup lender last minute and hoping we’re not so screwed there’s no coming back. This sucks.
03 September, 2021
Strung me on for a month them a few days before closing, they tell me I won't be able to close. I sent all the requested documents on time and wasted so much time on the process to get screwed by these people less than 4 days before closing was supposed to take place. Callous response from the advisor, telling me I have to reapply, in which case, I won't get the deal I was promised, or pay for lock extension. My application is not simple, and I had to send over $200 supporting documents. I'm convinced that all they were after was the lock extension fee, and they had no intention of closing on time. Stay away.
01 September, 2021
STAY AWAY GO ELSEWHERE
Horrible, where do I start? I signed up for the membership and due to the horrible system/tech - they have no screen to confirm your membership which then I refreshed the page and sent me back to the landing page. I then saw I was charged twice, opting for TWO MEMBERSHIPS! You cannot get assistance very easily, I spoke to a person on the phone and was able to get ONE of TWO membership cancelled however I still haven't been processed for a refund. After opting for the second membership, it was extremely difficult to use their system to make bookings - I've checked the available bookings and THEY HAVE NO LESSONS for LEARNERS available to my timetable. It's either VERY EARLY in the morning or in the evening all the slots are booked off. I then requested another cancellation the same day I've created the memberships, I'm still waiting to hear their reply. I've created tickets on their "support" page but haven't received a single response from their support. My support ticket was cancelling my membership and to be offered refund. Horrible system, stay away - they make it extremely difficult for you to use their system and their services. If you can, spend the extra money elsewhere for a more efficient system.
31 August, 2021
if you need help, you get ghost
When I was gathering information and was not hooked to them, they were so active and replied within few minutes. So far so good. Problem started when the initial closing cost/amount that we agreed on changed at the last minute (not few dollars, it was almost 10 folds more). I tried to reach by phone, emails so many times and they never replied me back because I was already hooked to them. This was one of the worst experience in my life. Customer service does not exist at all. The agent will become ghost when they take money from you. If you do not know the process, do not go with them. You will have to do it yourself. They keep sending forms to sign so frequently. If you do not do it in time, your get extended for X days. I do not recommend and will never go with them in future. I will pay few more bucks and go with some reputed banks or local agents.
27 August, 2021
NEGATIVE STARS!!!!! I was working with Better Mortgage to Refinance my house. I have had the worst experience in my life with Better like worse than HELL! They have had me on a cruel and evil emotional roller coast for 42 days!! I had to take a lot of time to get all kinds of paperwork and I got limited updates, I had to call and email several times to see what was taking so long & to understand their requests & even had to correct their typos like my birth year was wrong & I even got told everything is looking good so of course, I was getting hopes up & I expressed that to them many times and then after I went through so many hoops they call on day 42 & say I am denied because I haven't received child support for six months. They "missed" it. So this whole time I wasn't going to get approved and they dragged it out for 42 days. To say the LEAST, This has caused me so much anxiety, heartache, pain, anguish, waste of my VALUABLE TIME, a huge emotional roller coaster! They have no idea what this has done to me &my kids. DO NOT GO TO BETTER!!!! They are the WROST
27 August, 2021
The WORST LENDER in the business. Do it yourselfers that don't know how to do it. The one thing they were good at was passing the buck (more "department titles" for that pr crap) than people actually processing the loan. If I didn't know to look up my RE taxes on the house, the late fees and penalties I incurred due to the company not paying the taxes out of escrow, I could have lost my house! There are several other instances of information they lost and I had to reconstruct, but that would just be beating a dead horse. THE WORST LENDER!!!!!!!
20 August, 2021
Complicated, and simply NOT better.
The process of getting a mortgage is convoluted, disorganized, and annoying. There is a high degree of repetition in completing the tasks, and menial items come up almost daily. When I refinanced a few years ago with a bank, the mortgage specialist gave me a list of items needed up front. I gave him the requested documents and information, then we were done with that step. "Better" certainly is "worse" than a traditional banker. If you don't like communicating with humans and prefer working with poorly wired robots, then you'll probably like Better.
16 August, 2021
Better.com conned me into a cash out…
Better.com conned me into a cash out refi, I specifically told my home advisor I was planning to use the proceeds to payoff other debts and then would be purchasing a new home right afterwards and they said that would be no problem...refi closed, got into contract to sell my current house and buy a new house and now I'm told Better will not let me use ANY of the proceeds from my house sale or the leftover funds from my refinance toward the purchase of the new home since it was refinanced through them....this has caused HUGE issues in my buying/selling process...don't believe anything they tell you, they'll give you false information to get their commission and then you get stuck with the issues.
30 July, 2021
Ready to bail
Everything began great, but after the first 2 weeks the process really stalled. Every time I finished a task thinking everything was wrapped up, something else had to be done. Why Better didn't give me everything upfront, I'm not sure. My loan should have been wrapped up in 3 weeks, but here we are 4 weeks later and still not done.
10 July, 2021
Poor customer service
Poor customer service. It's hard to talk with anyone in the underwriting stage and I have to wait days to be able to schedule a call.
07 July, 2021
Great rates and great service.
The had the lowest rates AND the lowest closing costs. Staff were attentive and communicated well through the whole process. Closed in 3 weeks and received my funds as scheduled. Couldn’t ask for a smoother experience for my re-fi.
07 July, 2021
I was very skeptical about on-line mortgages, but Better surprised me. The online interface was easy and intuitive. I was pleased that it was very easy to talk with someone at every step. Although I didn't need much hand-holding, the people I did speak with were friendly and knowledgeable. I had dedicated people assigned at every stage and they emailed me whenever I was moving to a new stage and an new person. The closing was done at my house. Very, very convenient.
06 July, 2021
We did a refi through Better and the rate was very good and we also liked their online portal. However, we have never ever been asked to provide so much data, continuously. I understand the standard requests to verify income, investments, jobs, etc. However, I was asked to verify the data twice for a different time period, three times and for some of the data a fourth time. Mind you this is for a husband/wife with credit scores over 820. Very frustrating being on businesses trips while having to continuously re-verify the same data over and over. Suggestion: provide an up-front checklist of data that should be provided and stick to it. If additional data is needed, give an explanation as to why.
02 July, 2021
I had an application with them and another lender had a better offer. They said they would match. So far so good. I sent them the loan estimate doc from the other lender as requested. They say its too old (it was about 5 days old) - get us something recent. Fine - I give them one within the last day. Next it was - your application expired, please apply again. Fine. Next - the loan estimate again - needs to be within 2 days. Moving goalposts all the time.
02 July, 2021
We just refinanced with Better.com and…
We just refinanced with Better.com and are extremely happy with the whole experience! Everything was done online except meeting with the notary, who came to our house. It was, by far, the EASIEST refinance we've ever done. They walk you through the process step by step, giving you specific "Tasks" to complete, providing feedback if necessary. Our questions were answered in a timely manner and everyone that we worked with was extremely responsive and professional!
01 July, 2021
You should change your name from Better to Best!!!!
I had a terrible experience trying to get a refi through my current bank. I then applied through Better and I couldn't be happier! Frances Council spearheaded my refi. Between her and their Dashboard, the process couldn't have been easier. The communication was perfect! The terms were great! They had me approved in a couple of days and funded in 3 weeks! My current bank is still asking me to send them things after 6 weeks! I highly recommend Better!!!