Better Review Of 2023

There are quite a few mortgage lenders but finding the one that fits you best isn’t always very easy.

But if you are someone who prefers online mortgage lenders over the traditional brick-and-mortar ones, then you will find this Better Review very helpful.


GuideBetter Review
FeaturesOnline process, customized loan options and more
Minimum credit score620 or above
Downpayment cost3%
Required debt-to-income ratio50%- 55%
WebsiteClick here

Key Takeaways

  • Better offers Jumbo loans, FHA, and conventional loans and does not offer VA, USDA, home equity, home improvement loans, and LOC.
  • It offers zero commissions, zero lender fees, 24×7 assistance, and pre-approval in 3 minutes.
  • Better offers mortgages in 46 states and Washington, DC, and is 100% online.
  • It has a rating of 4.2/5 stars on Trustpilot.

What Is Better?

Better is a digital mortgage lender that started operating in 2014 with the aim to make the home buying and refinancing process smooth for its customers.

It is based in New York City and offers mortgages in 46 states and Washington DC.

Better promises to lend you a mortgage with zero origination fee, pre-approval in less than three minutes, and a complete 100% online process.

It offers comparatively few varieties of mortgage loans, including Jumbo loans, FHA, and conventional loans except VA loans, USDA, home equity loans, home improvement loans, and lines of credit.

Let us look into Better mortgage closely and discuss other important things to determine if it is the ideal mortgage lender or not.

Read: Nationwide Home Loans Review

Features Of Better

  • Zero commissions.
  • Zero lender fees.
  • Close up to 10 days faster than average.
  • Get pre-approved in as little as 3 minutes.
  • Reach anytime 24/7.
  • Easy to use.

Pros And Cons


  • Effortless online process.
  • Better cash offer and guarantee program.
  • Get customized mortgage rates.
  • Do not charge commissions or fees.
  • Get a preapproval letter in less than three minutes.


  • Doesn’t offer loans on VA, USDA home equity, home improvement, and lines of credit.

Types Of Loans Offered

Types Of Loans Offered by Better
Types Of Loans Offered by Better

Let’s have a look at the type of loans Better offers and the ones that it doesn’t:

  • Conventional
  • FHA
  • Jumbo
  • Fixed-rate
  • Rate-and-term and cash-out refinancing
  • Adjustable-rate
  • Bridge loans

It does not offer the following loans:

  • VA loans
  • USDA
  • Home equity loans
  • Co-op units
  • New home construction
  • Mixed-use properties
  • Home improvement loans
  • Multi-family homes containing five or more units
  • Lines of credit

Borrowing Requirement

Better review Mortgage Borrowing Requirment
Better review Mortgage Borrowing Requirement

Different mortgage lenders have a different set of requirements that one must qualify in order to apply for the loan.

In the case of Better, these are a bit liberal. Let’s have a look at Better mortgage’s borrowing requirements one by one:

Minimum Credit Score

In order to apply for a mortgage loan on Better, you must have a median credit score of a minimum of 620 for conventional loans generated by three major credit bureaus, namely, Equifax, Experian, and TransUnion. And a credit score of 700 for Jumbo loans.

Minimum Down Payment

Better require a downpayment of 3% for conventional loans, 3.5% for FHA loans, 10% for Jumbo loans, and so on.

Debt-to-Income (DTI) Ratio

The DTI to apply for a loan on Better is ideally 50%, but in unique circumstances, they consider your application with a DTI of 55%, which is really generous as compared to the industry standard of 43%.


Usually, a fixed-rate mortgage locks in your rate of interest for the entire loan period. Better, however, offers 15, 20, or 30-year fixed-rate loans.

Lender fees

Better does not charge lender fees or origination fees or application, or underwriting fee\processing fees.

How To Sign-Up?

The entire lending process is carried out digitally on Better.

1) In order to apply, you are required to go to their website and click on the “Get started button.”

How To Sign-Up on Better

2) Now you will see a page asking whether you want to buy, sell or refinance your home.

Sign-Up on Better

3) If you choose “buying option,” then you will be redirected to narrow down your search to more options like “I’m making offers” or “I’m just researching.”

get started on Better

4) And if you choose the refinancing option, then you will have to enter some details about yourself, your property, etc.

5) After that, you will get a basic pre-approval that will tell you about your eligibility criteria.

Better Guarantees and Cash Offer Program

Better boasts that if you choose their real estate loan approval, they will close it on time, and if they fail to do so, they will pay you $2000.

In order to get this, it is crucial that you work with a partner agent or Better agent to lock your mortgage rate.

Better Mortgage Rate

Purchase Rate/APR
Mortgage type
4.750% / 4.922%15-year fixed*
4.990% / 5.198%20-year fixed*
5.000% / 5.163%30-year fixed*

Additonally you may go to their website and use the laon calulator to determine whether you are eligible for the loan or not.

Customer Service

You can contact Better’s customer service by calling them at 415-523-8847 anytime, 24×7, or email them at [email protected]

If you have any questions about the loan, then you can email them at [email protected] between 9 am and 9 pm ET or call them at 646-849-2409.

NPC Better Mortgage Ratings

Customer Service4.3/5
Quality of service4.3/5
Ease of use4.5/5

Read: Rocket Mortgage Review

Customer Ratings And Reviews

Better Mortgage Customer Rating And Review
Better Mortgage Customer Ratings And Reviews
Better Mortgage Customer Ratings And Reviews

Better Mortgage has an average rating of 4.2/5 given by a total of 1,441 people, which is good. 75% of people gave it a five-star rating, while 16% of people gave it a one-star rating.

Our Experience

Just to understand their eligibility and service standard, we called Better to get a quote on a home loan and to determine our eligibility.

We must admit, everything went effortlessly, the online portal was very easy to use, and the lady who picked up our call answered all our questions.

Overall, we had a good experience with Better Mortgage.

What Differentiates It?

Better is a great option for those who are looking for affordable mortgage loan options.

We were particularly impressed by their Debt income ratio of 50%, which is so generous as compared to other similar options.

Also, the downpayment is as low as 3%, and the fact they guarantee to close your real estate deal on time just adds all the more.

All these differentiating factors make Better one of our favorite mortgage options to choose from.


GuideBetter MortgageAmeriSave
FeaturesOnline process, customized loan options, and moreEasy online process, variety of options, and more
Minimum credit score620 or above580 or above
Downpayment cost3%0% to $3.5%
Processing feeNo fees$500
BBB RatingBA+

Read AmeriSave Mortgage Review

Final Verdict

When it comes to people who are looking for a hundred percent online mortgage platform, Better is a good choice.

However, it does not have an option for VA loans, FHA loans, etc., which are the most common types of options people look for.

We recommend you go for Rocket Mortgage; our number one mortgage refinance company.

Rocket offers VA, FHA, and Conventional loans, among many others. Also, it requires you to have a minimum credit score of only 580 or above, unlike Better, which requires 620 or above.

Also, Better asks for a downpayment of 3%, while for Rocket, it varies between 0-3%.

There are certainly more factors that make Rocket Mortgage a better choice. For more details, you can go through our full-length review on it. 


Is Better Legit?

Yes, accredited by Better Bureau Business which makes it a hundred percent legit entity.

Do I have to pay any processing fee on Better?

No, Better does not charge any processing fee.

Can I get a quick pre-approval on Better Mortgage?

Yes, you can get a pre-approval on Better Mortgage within three minutes.

Where does Better Mortgage operates?

Better Mortgage operates in 47 states and Washington D.C.

What should be my debt-to-income ratio to qualify for Better Mortgage?

You should have a debt-to-income ratio of 50% to qualify.

NPC Overall Rating

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