Better Review: Home Purchase and Refinance

While Better is a relatively new mortgage lender, it’s quickly emerged as a leader in the industry. As an entirely online lender, Better is disrupting the mortgage process in ways that benefit borrowers. It provides a fast, straightforward, and personalized mortgage experience that can be completed from start to finish online. In this Better review, we’ll dig into the details to help you decide if Better can help you find the perfect home loan or refinance your mortgage.

Pros and Cons of Better



What Does Better Offer?

Better offers several types of loans. You can apply for any of the following:

Adjustable-Rate Mortgages: After an initial fixed period, your loan’s interest rate can change. Better offers 5/1, 7/1, and 10/1 adjustable-rate mortgages.

Fixed-Rate Mortgages: Your interest rate remains the same from the day you take out the loan to the day it’s paid off. You can expect the same principal and interest payment every month with a fixed-rate mortgage.

Jumbo Loans: A jumbo loan is a mortgage that’s significantly higher in its balance than a conventional loan. While conventional loans typically have a county-imposed dollar limit, jumbo loans can exceed that limit. Better offers both fixed-rate and adjustable-rate jumbo loans, which can provide you more flexibility.

Regardless of which type of loan you choose, Better offers a few loan terms: 15-year, 20-year, and 30-year mortgage loans. You may be able to get more customized loan terms, depending on the specifics of the loan you choose.

What To Expect on the Site

Better is a startup company that functions entirely online. Interested homebuyers can start and finish a mortgage or a refinance application from their own home computer. In other words, you don’t need to leave home in order to fill out mortgage paperwork.

From pre-approval to loan approval, all of the paperwork is digital with Better. So, this means you can complete paperwork and the loan process on your time, without scheduling appointments in person. While you can call a loan officer, you likely won’t need to because Better’s platform is seamless and easy to use.

However, before you begin the application process, you may want to check your credit score. Better has options for those with less-than-perfect credit, but borrowers typically need a score of 620 or above to qualify.

The website is also a resource for first-time homebuyers and anyone who wants to learn more about the homebuying experience. The site has informative articles on topics like improving debt-to-income ratios and how your credit score impacts interest rates. You can also use Better’s online loan estimate calculator and refinancing tools.


Better is giving mortgage borrowers more affordable choices. The company backs every mortgage with a $1,000 guarantee. So, if you find better, cheaper loan estimates elsewhere, Better will either pay you $1,000 or charge you $1,000 less.

Additionally, you won’t be charged origination fees or commissions, and the entire loan process features radical transparency. With all different loan types and options for every borrower, Better is truly making the mortgage process better.

What People Are Saying About Better

Better has an excellent Trustpilot rating based on the nearly 600 customers who wrote a Better review. As of June 2021, it has a score of 4.6 out of 5 stars:

If you look at the feedback from customers who left a Better review, a couple of themes emerge: Better offers a responsive, knowledgable team and a streamlined online process.

The Bottom Line

If you’re ready to get pre-approved, then you can get started with Better at any time. Because historically low-interest rates are predicted to rise as 2021 progresses, now could be a great time to take out a home loan or refinance an existing mortgage.

As we’ve mentioned in this Better review, the company uses technology to optimize the loan process at every step. As a result, it provides a fast loan approval process and transparent experience. There aren’t any lender or origination fees and rates are competitive, so Better undoubtedly has many advantages. Given these points, Better is a great option to consider as you compare top mortgage lenders and mortgage refinance lenders.