Better Mortgage Review 2025: Is the First AI-Powered Mortgage Worth It?

3.8 _/5

Our take: Better Mortgage is an online-only lender that stands out with super-low rates and fast approvals. Customer service is hit or miss, and you can’t view any rates online. It’s a valid pick if you want a cheap loan, as long as you’re willing to sacrifice transparency and customer service to get it. Check out our picks for the best mortgage lenders.

Purchase Mortgage

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• Rates are much lower than average
• Simplifies a complicated process
• Rate match and on-time closing guarantees

• Customer service is hit-or-miss
• Must complete preapproval to get rate information
• No construction loans

Rates (APR)	Starting at 5.25%
Loan amounts	Up to $3 million
Repayment terms	15-, 20-, 25-, and 30-year terms
Min. credit score	580
Min. down payment	5%
Customer ratings	4.0/5 Trustpilot

Depends on specific mortgage type

Depends on loan type

Mortgage Refinance

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• Extremely low rates
• Flexible refinance options
• Faster-than-average timeline

• Might be hard to contact your loan officer
• Mixed customer reviews

Rates (APR)	Starting at 5.125%
Min. credit score	620
Repayment terms	15-, 20-, 25-, and 30-year terms
Loan options	Cash-out refinance or rate-and-term refinance

Loans from Better Mortgage are available in all 50 states and Washington, D.C. According to Better, homebuyers save an average of $8,200 with Better over the life of their loans. It’s one of the most cost-effective lenders you’ll find, but the low Better Mortgage rates might come at a price.

Customer service is lacking. We found that loan officers can’t answer basic questions about rates before preapproval, and reviewers say it’s even harder to get help after you’re locked in with a mortgage:

Better Mortgage vs Others
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Our Better Mortgage review provides an in-depth look at what the company offers and whether it’s worth applying to.

Table of Contents

1. Better Mortgage company profile
2. Purchase loan types
   1. FHA
   2. VA
   3. Conventional
3. Refinance
4. Other mortgage features
5. Customer reviews and ratings
6. Pros and cons
7. Alternatives
   1. vs. SoFi
   2. vs. Rocket Mortgage

Better Mortgage company profile

Better tries to streamline the mortgage process and succeeds in a few key areas: representatives are available 24/7, and the application is 100% digital. You can also work with Better Cover, an affiliate of Better Mortgage and a full-service digital insurance agency, to get home insurance set up right away. 

But even though Better simplifies a lot of the process, it still takes three to six weeks to close after you lock in a rate.

Purchase loan types

Here’s a look at the mortgage types Better offers. 

FHA

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What to know

Rates (APR)	Vary
Min. down payment	3.5%
Term lengths	15-, 20-, 25-, and 30-year terms
Min. credit score	580

• Faster-than-average closing

• No rate information
• The loan officer I spoke to was unhelpful on the phone

You can’t find any information about FHA mortgage rates on Better’s website, and the loan officers won’t provide any information when you call. The other features of this loan are similar to Better’s other mortgages: quick closing and AI-powered decisions make the process faster than average.

VA

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What to know

Rates (APR)	Starting at 5.25%
Term lengths	15-, 20-, 25-, and 30-year terms
Min. down payment	$0
Min. credit score	620

• Super low rates

• No VA-specific perks 
• Limited information online

Better’s VA loan doesn’t have any unique standout features. The biggest perk is that Better Mortgage rates are much lower than average. You also get the standard Better benefits, like Better Guarantee and Better Closing Guarantee. 

Conventional

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What to know

Rates (APR)	Starting at 5.25%
Term lengths	15-, 20-, 25-, and 30-year terms
Loan amounts	Up to $3 million
Property types	Single-family homes, 2- to 4-unit properties, townhouses, condos, and manufactured homes

• Low rates
• Fast closing timeline

• Hit-or-miss customer service
• Pressure to get pre-approved

Our experience calling better: Betsy, a voice-based AI Loan Assistant, greeted me and asked if I had any questions. I asked about current conventional mortgage rates, and the robot told me the starting rate.

I couldn’t get any additional information without completing an application, even after getting transferred twice and speaking with real-life loan officers.

Better mortgage refinance

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What to know

Rates (APR)	Starts at 5.125%
Term lengths	15-, 20-, 25-, and 30-year terms
Min. credit score	620

• Flexible refinance options
• Various loan types
• Competitive rates

• Hard to get information about rates
• No closing cost assistance

Better Mortgage offers rate-and-term and cash-out refinances. A no-cost refinance is an option for both mortgage types if you want to roll the closing costs into the loan. Better’s rates are low for borrowers with great credit and equity. But you won’t find any closing-cost discounts or assistance, which will increase the total cost.

Other mortgage features

Better Mortgage stands out with unique features that set it apart from other lenders. 

The Better Guarantee

The Better Guarantee will match loan terms from other companies. You get a $100 concession if Better can’t match a rate you were offered, making it a win-win for you. Better also has a Better Closing Guarantee for an on-time closing.

If Better can’t hit the deadline, you’ll get $2,000.

Better Real Estate discount

You can save up to $2,000 with the Better Real Estate discount when you work with an agent the lender refers you to. The offer isn’t available in every state. Still, borrowers report that it’s an easy way to save some extra money during the process. 

Loan officer contact information

Better assigns a loan officer after you complete the preapproval application. You can access phone, email, and chat support 24 hours a day, every day of the week. But the reality is that you might not be able to reach your specific advisor due to different time zones and slow response times.

First AI-powered mortgage

Better Mortgage uses AI in almost every stage of the process. Betsy, a voice-based AI Loan Assistant, answers the phone when you call the company. Behind the scenes, Better uses more AI technology for underwriting, fraud detection, and reviewing applications. 

Apply 100% online

You never need to visit a storefront or strip mall to complete your Better Mortgage application since it’s 100% online. Tech-savvy borrowers might appreciate that you can apply for a mortgage from home with Better. 

Is Better Mortgage legit? Customer reviews and ratings

Founded in 2014, Better Mortgage Corporation is a legitimate company with solid ratings on most review sites. It’s BBB-accredited and earns an A- rating on the platform.

Here’s the bottom line:

• What it does well: Better.com is a fully online mortgage lender, and borrowers appreciate that the process is fast and easy to do from home. The company’s rates are also among the lowest around, and many reviewers appreciate the affordable loans. 

• Where to be cautious: You have to provide your personal information to view Better’s mortgage rates, and many Better.com reviews mention that the company doesn’t stop calling after you provide your phone number. Borrowers also report that it’s hard to reach loan officers during the loan process.

Better Mortgage pros and cons

Pros

• Better’s rates are low, making it one of the best deals you can find. 

• The company focuses on simplifying the mortgage application process with digital tools, such as an automated checklist and AI assistants. 

• Better’s generous rate match and on-time closing guarantees help you know that you’re getting the best deal and a quick close.

Cons

• Based on our experience, customer service is hit or miss, and loan officers aren’t always helpful. 

• You must complete the preapproval application to get rate information, unlike most lenders. 

• You can’t get construction loans from Better, which is a dealbreaker for some borrowers

Alternatives

Better Mortgage vs. SoFi

SoFi is our highest-rated mortgage lender. It offers many of the same perks as Better, including a close-on-time guarantee and cash back for using an in-network real estate agent.

But SoFi’s payouts are much higher. The company pays you $10,000 if you don’t close on time, and $9,500 if you work with a SoFi agent. Better, on the other hand, offers $2,000 for each.

Better Mortgage vs. Rocket Mortgage

Rocket Mortgage offers nearly every type of mortgage, making it a one-stop shop for borrowers. Like Better, it’s also an online-only company with a user-friendly digital application that doesn’t take long to complete. Rocket Mortgage stands out with strong customer reviews, which is an area where Better often falls short.

How we rated Better Mortgage

We designed LendEDU’s editorial rating system to help readers find companies that offer the best mortgages. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Better to several mortgage lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.