Better Mortgage 2021 Review: Low Rates and Cutting Fees

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Top perks

Low rates and price guarantee

Better mortgage 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.

No origination fees

Many mortgage lenders charge for the privilege of getting a loan. Better charges no origination fee, 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 upwards of a few days to issue a pre-approval letter. Better offers this letter using its automated technology to digitally underwrite your loan so that when you make an offer on a house, you can make your bid more competitive — sellers will see that you’re fully underwritten. In other words, Better’s mortgage pre-approval letter can help you stand out since it means it shows you’re more financially ready to make such a large purchase.

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Lock in your interest rate on demand

Applicants can lock in their interest rate whenever they want during the loan process. Most lenders don’t guarantee the rate you get in your initial quote, but 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.

100% online application process

Most of the closing process is done completely online (with the exception of signing the final documents). Simply fill out their online application form and submit any necessary documents using their secure system.

Access to a dedicated loan officer

Once you complete the pre-approval process, you’ll be assigned a loan officer and will receive contact details. You can contact this person during office hours throughout your loan application process.

Discounts available

Borrowers can receive up to $2,000 in lender credits through the Better Real Estate discount program. To be eligible, you’ll need to choose Better Mortgage Corporation as your mortgage lender and a real estate agent who was referred to you by Better.

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View more information: https://www.fool.com/the-ascent/mortgages/better-mortgage-review/

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