Better Mortgage Review

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page.


Types of Loans Offered

Conforming, jumbo, FHA, VA

Bankrate Better Mortgage


Types of Loans Offered

Conforming, jumbo, FHA, VA


Types of Loans Offered

Conforming, jumbo, FHA, VA

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Insider’s Featured Mortgage Lenders

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Overall lender rating

Pros and cons

Better Mortgage interest rates and fees

On Better Mortgage’s website, navigate to the “Rates” page and select purchase or refinance rates to see sample interest rates based on your zip code.

This probably won’t be exactly the rate you’ll end up paying, but it should give you an idea. And not all online lenders give you ways to see customized rates.

To get a more accurate rate quote, you’ll have to provide some contact information to get a basic preapproval letter. This doesn’t require a hard credit check.

Better doesn’t charge lender fees such as application, underwriting, or origination fees. You will still have to pay third-party fees on services like an appraisal or inspection, though.

Compare to other mortgage lenders

Better Mortgage vs. Rocket Mortgage

Rocket Mortgage and Better Mortgage both offer the same types of mortgages, so which one is right for you may depend on which one can offer you a better deal or the type of experience you’re looking for.

Do you want a unique term length? Rocket Mortgage offers terms as short as eight years, while Better Mortgage has more traditional options of 15, 20, and 30 years.

Rocket Mortgage also earned the No. 1 spot in J.D. Power’s 2022 US Mortgage Origination Satisfaction Study, so it may be a good option if customer service is important to you.

Are you worried about closing costs? Better Mortgage charges fewer fees than Rocket Mortgage — for example, Rocket Mortgage has an origination fee, while Better does not.

Better Mortgage vs. Guild Mortgage

Guild Mortgage has more mortgage options than Better Mortgage, so Guild might be a better choice if you want a large number of options to choose from, or if you need a more unique type of mortgage.

Guild Mortgage’s Complete Rate program also lets you use non-traditional credit (such as rent or utility payment history) to apply if you’re a first-time homebuyer with no traditional credit score.

Guild Mortgage may charge more fees, though. If you’re looking for a conforming or jumbo mortgage, Better Mortgage might be the more affordable option.

How Better Mortgage works

Better Mortgage is an online mortgage lender that is available in all 50 US states and Washington, DC. You can’t use Better to buy homes in Puerto Rico or anywhere outside of the US.

The company offers conventional mortgages — both conforming and jumbo — and government-backed mortgages, including FHA loans and VA loans.

Better doesn’t charge any lender fees, including origination, application, processing, or underwriting fees. This means closing costs will likely be lower with Better than with some competitors. According to its website, most Better customers pay between $1,500 and $3,500 in closing costs.

Better offers two different types of preapproval letters. The first is a basic preapproval letter, which utilizes a soft credit pull and information you provide to determine whether you qualify and how much you can borrow. Its verified preapproval letter, on the other hand, provides more certainty because it requires you to upload documents verifying your financial situation.

If you’re getting ready to start making offers on houses, it’s better to have a verified preapproval in hand, since you want to be certain that you’re likely to be approved for the amount stated in your preapproval letter. 

You can call, email, or chat online with customer service Monday through Friday from 9:00 a.m. to 9:00 p.m. ET, or weekends from 10:00 a.m. to 6:00 p.m. ET.

Is Better Mortgage a reputable company?

The Better Business Bureau gives Better Mortgage an B rating due to 235 customer complaints against the business. A strong BBB grade indicates a company is honest in its advertising, transparent about business practices, and effective in responding to customer complaints.

On its Zillow lender page, Better has a rating of 4.4 out of 5 stars based on 866 customer reviews. On TrustPilot, it earned 4.2 out of 5 stars based on 1,525 customer reviews. But in J.D. Power’s 2022 customer satisfaction study, Better ranked below the industry average.

Better doesn’t have any public scandals. But its founder and CEO, Vishal Garg, does. He’s been accused of fostering a hostile workplace at Better and of engaging in fraud with some of his previous startups. He also laid off around 900 employees over Zoom in late 2021.

If Garg’s reputation worries you, you may decide to get a mortgage through a different company. But it’s worth noting that Better Mortgage itself has a pretty clean history.

Better Mortgage FAQ

Yes, Better Mortgage is a real mortgage lending company that is accredited by the Better Business Bureau. You’ll see the Equal Housing Lender and Equal Housing Opportunity logos on its website — this means that the US Department of Housing and Urban Development (HUD) holds Better to certain standards regarding discrimination in the lending process.

Better Mortgage could be a good fit if you prioritize speed, want a company with no lender fees, and are comfortable with a fully-online application process. It isn’t the lender for you if you need a VA mortgage or USDA mortgage, or if you don’t have a credit score.

Better Mortgage may be a good lender for refinancing your mortgage. Just as with its original mortgages, it doesn’t charge application, underwriting, or origination fees when you refinance. It also offers both traditional rate-and-term and cash-out refinancing.

Better Mortgage is a direct lender, meaning you’ll apply through Better and it will be the entity that provides you with your mortgage. This differs from a mortgage broker, who helps connect you with a lender, but doesn’t actually lend the funds themselves.

According to its website, it takes an average of 34 days to close with Better Mortgage.

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