The Better Mortgage
The most unique feature of Better Mortgage is that their agents don’t receive commission. This takes the focus off of making money for the agents and replaces it with making sure that the buyer (you), have the best experience and are happy with their new home.
- Fast preapproval of 24-hour turnaround
- Online process but human help available
Overview
Better Mortgage was created to change the process of buying a house to being as transparent, easy, and affordable for most Americans. The traditional mortgage process hasn’t changed for decades and the process is confusing to say the least. Better Mortgage is a young company, started in 2014 but it has some very enticing services to offer.
Better Mortgage wants to offer their customers fast, easy, and stress-free mortgages by using the best of what technology has to offer along with the help of some friendly faces.
Services Available
Better Mortgage offers a few different services depending on your needs. Because they are a new company, there are still a few key loans that they don’t yet offer but here is what they do:
Buying a Home- Buying a new home can be a difficult challenge when you aren’t fully informed. Better Mortgage wants you to be fully aware of each process and understand how things are going in your mortgage.
They offer your choice of loans from 30 year fixed, 20 year fixed, and 15 year fixed, as well as 10/1, 7/1, and 5/1 adjustable. They also recently started to offer FHA loans.
But if you want to create your own custom loan, they make that an option as well. Basically, you can tailor it to how much you want to pay per month and work the numbers until you get it right.
You can put as little as 3% down for first time home buyers and must have a credit score of 600 or higher to get a loan through Better Mortgage. A Jumbo mortgage can be attained with a 10% down payment.
Refinancing- Better Mortgage also offers refinancing through their website. With the same mission they have for purchasing a home, agents don’t work on refinances to get a commission. Their one goal is to save you money on your loan.
You can change up your mortgage to cash out, save money on your monthly payment or more. Better does not yet offer home equity loans.
Back to top ↑Cost and Special Offer
Better Mortgage charges no lender fees. They don’t have any fees connected to loan application, underwriting, or originating. They do charge for closing cost, but they guarantee to be at least $1000 cheaper than any of their competitors. If they can’t, they will pay you $1000.
They also do their best to find the best mortgage rates for you in your situation. They will work with difficult cases such as the self-employed.
Back to top ↑Customer Support
Better Mortgage offers three different ways to contact them. When you are going through the application process you will be assigned a friendly agent to help you every step of the way. You can always log onto the website, 24/7 to check how your loan is going.
Back to top ↑Conclusion
Better Mortgage is a promising new startup that has innovative ways to offer mortgages to America. It’s refreshing to find a company that doesn’t run on pure profit as motivation for their employees but encourages customer satisfaction as a point of success.
They offer almost every kind of loan to the average buyer, first time buyer, and much more. Want to blaze a new trail in home loans? Try Better Mortgage.
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