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Better Mortgage Review

Key Points

  • Better charges no unnecessary fees and no commissions to keep closing costs down.
  • Loan estimates can be obtained instantly online by providing some simple information.
  • You can apply for a mortgage 24/7 and visit the online portal any time to track your progress through the loan process.
  • Better isn’t available in all 50 states and doesn’t offer all loan types. For example, you can’t get a home equity loan, a home equity line of credit, a VA loan, or a USDA loan from Better.

Better Mortgage

Better Mortgage
Editorial Rating

Better Mortgage

Editorial Rating

What we like:

No lender fees

Minimum Credit Score620
Minimum Down Payment3%
Term Length Range (Years)15, 20, or 30 years
Other Loan TypesConventional and jumbo adjustable-rate mortgages, FHA loans, refinance loans
See how Better stacks up against top mortgage options

Better works differently than other mortgage companies by aiming to simplify the mortgage application process. It also has eliminated commissions and unnecessary fees, so it will be easier to understand how much you’ll pay, and getting a loan is more affordable.

Better offers a wide array of different loan types, including FHA loans that make it easier for low-income borrowers and borrowers with imperfect credit to qualify.

This Better mortgage review will cover the key features of Better mortgage loans, so you can decide if borrowing with Better is right for you.

In this review:

Better Mortgage: By the Numbers

Min. down payment
3.5%Not disclosed
Loan amounts$3 millionUp to state maximumNot disclosed
Ajdustable rate options5/1, 7/1, 10/15/1, 7/1, or 10/1Not disclosed
Loan terms15, 20, 3015, 20, or 30 yearsNot disclosed
FeesNoneNo lender fees from Better. Standard FHA fees applyClosing cost fees of $1,500 – $3,500
Min. credit score620

The Pros & Cons of a Mortgage


  • Better has promised to eliminate unnecessary fees and it has succeeded. You won’t pay lender fees or mortgage origination fees, which can save you thousands on closing costs.
  • Better offers a streamlined mortgage application process, and you can complete most steps online. The website is always accessible, and you can even upload financial documents, making it convenient and easy to apply and track the progress of your mortgage loan approval.
  • You can obtain a loan estimate within a matter of minutes by entering your information online. This makes it very simple and easy to shop for a mortgage loan and compare rates between Better and other mortgage lenders.


  • Better isn’t available in all 50 states (such as New York), so some home buyers won’t be eligible.
  • Better doesn’t offer some loan types, such as VA loans, USDA loans, home equity loans, and home equity lines of credit.

Applying for a Mortgage from

Better provides fixed- and adjustable-rate mortgages for borrowers looking for conventional or jumbo loans.

You can also get an FHA loan from Better. Because FHA loans are insured by the government, it’s possible to qualify with a lower credit score, a higher debt-to-income ratio, and a lower down payment.

Better also indicates it will work with buyers who have income from non-traditional sources, and it will provide assistance to borrowers in finding income-based discounts or homeownership assistance programs in their individual states.

Applying for a loan with Better is very simple. The steps involved include:

  • Providing basic information about the property
  • Undergoing a soft credit check, which doesn’t affect your score
  • Receiving details about home loans you could be eligible for, including rates and terms for different mortgage types
  • Talking with a dedicated loan officer who will provide additional support throughout the application process
  • Submitting financial documents and information as requested
  • Obtaining an official loan estimate and locking in your interest rate

After you have locked in your rate, you can typically close on your loan in just three to six weeks, which is a far shorter time period than it takes many lenders to get to closing.

What You Need to Apply

Some of the documents you may need to apply for a Better mortgage include:

  • Tax returns
  • Pay stubs
  • Bank statements

Your lender will also check your credit report, too.

What States Does Better Mortgage Serve?

Currently, Better issues mortgages in the following states. But it plans to expand into more states in the near future.

  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington DC
  • Delaware
  • Florida
  • Georgia
  • Iowa
  • Idaho
  • Indiana
  • Illinois
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Maine
  • Michigan
  • Mississippi
  • Montana
  • Nebraska
  • North Carolina
  • North Dakota
  • New Jersey
  • New Mexico
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Not Satisfied?

If you’re not sure Better is the perfect mortgage provider for you, check out some of our other resources. It’s always a good idea to get pre-approval quotes from several lenders in order to make sure you’re getting the mortgage that best fits your needs.

Other Resources:

How We Rate Mortgages

At LendEDU, we’ve developed a proprietary rating system that takes into account the weighted average of 12 data points including:

  • The Better Business Bureau rating of the lender
  • The lender’s TrustPilot rating
  • The number of states where the lender issues home loans
  • The lender’s total number of licenses and registrations
  • The number of regulatory actions
  • The number of mortgage loan originators
  • The customer support options that the lender provides
  • The Zillow rating assigned to the lender
  • Any other rewards and benefits associated with the mortgage

You can read more about our methodology here.