Pros and cons of Better Mortgage
Better Mortgage pros:
Digital platform with live rates and fast preapprovals
One Day Mortgage program provides a loan commitment in 24 hours
Offers loans for manufactured homes and self-employed borrowers
Price Guarantee matches or beats competitor offers
$2,000 closing credit when working with a Better Real Estate agent
Better Mortgage cons:
Requires contact info to view personalized rate quotes
No USDA, renovation, or construction loan options
No independent branches, can be found in 65+ partnered locations
Digital-only model may feel impersonal to some borrowers
Limited face-to-face support for those who prefer in-person help
Better Mortgage interest rates
Better Mortgage rates in 2025 are typically competitive and often trend below the national average. You can view live sample rates on the website, but your personalized rate will depend on your credit score, loan type, down payment, and location.
Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
Remember that interest rates vary a lot by customer. Your rate depends on your credit score, down payment, loan type, and home price. That means you shouldn’t take average rates (or advertised rates) at face value. Instead, pick three to five lenders you’re interested in and get rate quotes from each. Then, compare the interest rates, closing costs, and other fees to see which lender can give you the best deal.
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Better Mortgage Review for 2025
In 2025, Better Mortgage remains a leading choice for borrowers who want a fast, fully digital mortgage process. Founded in 2016, the company has built its platform to eliminate paperwork and branch visits. Borrowers can compare live rates, apply for preapproval, upload documents, and track their loans entirely online. Preapprovals most often take as little as three minutes.
Most borrowers need a credit score of at least 620 to qualify and proof of steady income. Better supports a range of loan types, including options for self-employed buyers and manufactured homes. While the process is efficient and tech-forward, this Better Mortgage lender review shows that the lack of in-person support may not suit everyone.
Affordability
Better Mortgage ranks around average on The Mortgage Reports affordability index. Its origination fees are slightly higher than the national average ($2,910 vs. $2,792), but interest rates tend to be lower. Borrowers can apply for low- and no-down-payment options, including 3% down conventional loans, 3.5% down FHA loans, and zero-down VA loans. Through Better Real Estate, you may qualify for a $2,000 closing cost credit when working with a partner agent.
Better also launched a loyalty program called Better Forever, that waives origination fees on future purchases or refinances.
Lending flexibility
Better operates in all 50 states and offers various loan types, including fixed and adjustable-rate mortgages, conventional, FHA, VA, and jumbo loans. You can also apply for rate-and-term or cash-out refinancing. The lender supports loans for second homes, manufactured homes, and self-employed borrowers. Better also has home equity products, including HELOCs and home equity loans.
Trustworthiness
Better Mortgage has a higher-than-average number of complaints filed with the Consumer Financial Protection Bureau (CFPB), most related to communication or loan servicing. However, it maintains an A rating from the Better Business Bureau. It earns mostly positive reviews on Trustpilot, where customers often praise its fast preapproval process and easy-to-use digital platform. While no lender is without criticism, Better’s overall reputation suggests a solid borrower experience for those comfortable with a fully online process.
Customer experience
Better Mortgage is best for borrowers who want speed, simplicity, and complete control over the loan process. Everything happens online, from comparing interest rates and getting preapproved to uploading documents and tracking your loan status. Eligible borrowers may receive a loan commitment within 24 hours through the One Day Mortgage program, depending on how quickly documents are submitted.
Better mortgage rates are displayed and refreshed multiple times daily, but you’ll need to provide contact information to unlock personalized offers. Better’s website also includes educational content, checklists, and mortgage calculators to help guide you through the process. Better also provides an AI voice assistant named Betsy for customers to speak with. If you prefer hands-on guidance, this mostly digital model may feel limited, but for tech-savvy borrowers, it offers speed and transparency that many traditional lenders can’t match.
FAQs about Better Mortgage
What credit score do you need for a Better mortgage?
Better Mortgage typically requires a credit score of 620 for conventional and VA loans, 580 for FHA loans, and 700 for jumbo loans.
How long does it take for Better Mortgage to close?
Eligible borrowers can receive a loan commitment within 24 hours through the One Day Mortgage program. Total closing times vary based on your loan type and how quickly you submit documents.
Is Better Mortgage legit?
Yes. Better Mortgage is a licensed online lender with an A rating from the Better Business Bureau and thousands of positive reviews on sites like Trustpilot.
Does Better Mortgage offer USDA loans?
No, Better Mortgage does not offer USDA, renovation, or construction loans.
Does Better Mortgage provide any closing cost assistance?
Yes. If you work with a partner agent through Better Real Estate, you may qualify for a $2,000 closing cost credit.
Is Better Mortgage the best mortgage lender for you?
Better Mortgage can be a good choice for borrowers who are comfortable managing the home loan process online. Its competitive rates, fast preapprovals, and flexible loan options appeal to first-time buyers, self-employed borrowers, and anyone looking for a streamlined experience.
While the lack of in-person support and limited loan variety may be drawbacks for some, Better stands out for its efficiency and tech-driven approach. That combination makes it a standout in this Better Mortgage lender review.
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How The Mortgage Reports scored Better Mortgage
The Mortgage Reports evaluates and ranks lenders based on four key factors, each weighted to reflect its impact on the borrowing experience.
Trustworthiness (20%): Measures customer satisfaction and reliability based on Consumer Financial Protection Bureau (CFPB) complaints per 1,000 loans and ratings from reputable third-party review platforms such as Trustpilot.
Customer experience (20%): Examines the lender’s digital and service accessibility, including the availability of an online pre-approval or pre-qualification process, ease of contact, and the presence of a current rates page on their website.
Affordability (20%): Assesses the average origination charges and the average interest rate the lender offers.
Lending flexibility (40%): Evaluates the lender’s minimum down payment and credit score requirements, as well as the availability of FHA, VA, and USDA loan options.
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