Better Mortgage review: rates, fees and more
This post will provide you with an honest review of Better Mortgage. Find out if it's the right lender for your needs and compare the advantages and disadvantages! Keep reading to learn more!
Better Mortgage: No hidden fees, lower minimum down payment
There’s a lot to think about when you’re in the market for a new home! And when it comes to mortgages, it is no different! To help you with that, here we have a Better Mortgage review.
This post will compare its details to help make the best decision! So whether you’re just shopping around or almost ready to apply, keep reading to learn more about this lender.
|620 or higher;
|Conventional, Jumbo, FHA, Fixed- and Adjustable-Rate, Rate-and-term and cash-out refinancing, and bridge loans;
|Minimum Down Payment
|Up to 30 years.
Better Mortgage review: what you need to know
Better Mortgage offers a variety of options to new borrowers. This is a great lender for anyone looking for fast and accessible support!
Better loan types include conventional, jumbo, FHA, fixed-and adjustable-rate, rate-and-term, cash-out refinancing, and bridge loans.
The minimum down payment is as little as 3% for conventional and 10% for jumbo loans. However, Better doesn’t offer USDA or VA mortgages, neither HELOC nor lines of credit.
Term mortgage terms range from 15 years up to 30 years! Better Mortgage doesn’t charge lender fees. Additionally, they update the mortgage rates daily, which you can see on their website.
For those interested in refinancing, Better delivers rate-and-term and cash-out options. Since Better Mortgage has only an online service, it has 24/7 customer support!
Better Mortgage main features
This lender will surely offer great online support and fast application! But to make the best decision, you must dive deep into this lender’s details!
Let’s compare the benefits and drawbacks of Better Mortgage to help you make a better choice!
- Better delivers a full-digital service;
- No hidden fees are charged;
- Multiple loan options are available;
- Get easy access to customized mortgage rates;
- Allows qualifying buyers to make cash offers;
- This lender offers a lower minimum down payment.
- Better don’t offer VA or USDA loan options;
- HELOC or home equity loans are not available;
- Better is not available in Nevada.
Credit score required to apply
The exact credit score required will depend on what type of mortgage you intend to apply for! However, you need to have good credit to qualify!
Therefore, the minimum required is typically a FICO score of 620 for conventional loans.
Better Mortgage application process: how does it work?
Better is a fully online lending service. So you can apply for it through Better’s website! Also, they offer great customer service!
To learn more about how the application process for Better Mortgage works, keep reading. In the next article, we’ll teach you how to apply and what is Better minimum borrowing requirement.
About the author / Beatriz Vieira
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