Top perks
Low rates and price guarantee
Better already consistently beats many mortgage lenders' rates, but its price guarantee ensures the lender will beat competitors. Better will match a competitor's offer and attempt to beat it by $100. If the lender can't, the $100 is yours to keep.
$150 off closing costs
Apply through The Ascent site and receive a $150 discount for closing costs or closing costs for refinancing. This exclusive perk can help you keep more money in your pocket and reduce the cost of already low fees that the lender offers.
Better One Day Mortgage
Better's One Day Mortgage program allows qualified borrowers to apply, get pre-approved, lock their rate, and get a loan commitment letter within 24 hours. The letter is a "conditional underwriting determination." It's not final approval of your loan, but it means Better expects to approve your loan.
Few fees
Many mortgage lenders charge for the privilege of getting a loan. Better charges no unnecessary fees, helping you save on your overall closing costs, which can range anywhere from 0.5% to as high as 2% depending on the lender.
Quick loan estimates and pre-approval
Better offers both rate quotes and pre-approval letters within minutes, making it easier to shop around for lenders efficiently. Prospective homeowners can also take action faster on a new home purchase in a competitive market. Other lenders can take up to a few days to issue a pre-approval letter.
When you make an offer on a house, you can make your bid more competitive because sellers will see that you're fully underwritten. In other words, Better's pre-approval letter can help you stand out, since it shows you're more financially ready to make such a large purchase.
Lock in your interest rate on demand
Applicants can lock in their interest rate whenever they want during the loan process, and at any time of day or night. Better will hold the mortgage rate for you, so you can complete your application with the knowledge that it won't change by the time you close on your home.
Digital application process
It's clear why Better is one of our top-rated online mortgage lenders: Most of the closing process is done completely online (with the exception of signing the final documents). Simply fill out the online application form and submit any necessary documents using the lender's secure system.
Also, Better's technology allows you to get a rate quote in seconds, and a pre-approval in minutes.
Access to a dedicated loan officer
Once you complete the pre-approval process, you'll be assigned a Home Advisor and will receive their contact details. You can contact this person during office hours throughout your loan application process. If you need help outside of office hours, live support is available by phone, email, and chat most days of the year.
Better mortgage loan officers don't earn commission, so they aren't incentivized to steer you to a loan bigger than what you need.
Discounts available
Borrowers can receive up to $2,000 in lender credits through the Better Real Estate discount program. You'll need to choose Better Mortgage Corporation as your mortgage lender and a real estate agent who was referred to you by Better.
Line of credit
The Better Home Card is an unsecured, fixed-rate personal line of credit up to $50,000. You can access the funds during the first year you have the card, and then you'll start the three- to five-year repayment period. The line of credit takes the form of a Mastercard, but you can also access your funds via cash or checks.
Interestingly, applying for a Better Home Card won't affect your credit. The issuer will run a soft credit check to process your application.
Bundled services
Better now partners with real estate attorneys and title insurance and home inspection providers, and has a tool that helps you compare and buy insurance policies. These services are additions to the real estate buying and selling services Better already offered.