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Better Mortgage is on mission to make it simpler, faster and more afforable to refinance and buy a home. To date, they have originated over $2 billion in conventional mortgage loans.
Better Holdco, Inc. (“Better”) was launched back in 2014 with a mission to make homeownership simpler, faster, and more accessible for everyone. In 2014 Better partnered with Avex Funding, a company that specialized in prime conforming and jumbo mortgages for over 10 years. In 2015 Better acquired mortgage partner Avex Funding which originated in California. By the end of 2015, Better established Better Mortgage as a lender with a solely direct online relationship with their borrowers without the need to use commission loan officers.
Better Mortgage is suitable for people who have access to the internet. Clients must feel comfortable completing the entire mortgage online under the highly secure website. Better Mortgage is for people with a fairly good and stable credit standing as the Better Mortgage product requires a minimum credit score requirement of 620.
At Better Mortgage the mortgage application and entire mortgage process are done solely online. Better Mortgage has affiliates that can help you with the setup of closing costs, real estate and homeowners insurance..
The mortgage loan process is done 100% online with pre-approval in as little as 3 minutes, just by answering some short simple questions for purchasing or refinancing. Once the borrower receives pre-approval the borrower will be provided with a Loan Estimate including; estimated monthly payments and interest rates, total closing cost estimate and the estimate of taxes and insurance as well. It can take up to 2 hours to receive pre-approval and the loan estimate if the borrower has a specific home in mind that they want to purchase
There are various repayment terms available depending on which loan the borrower selects. Repayment terms range from fixed rates for 15, 20 or 30 year terms, and adjustable-rate mortgages (ARMs) which offer fixed rates for an initial fixed period (5, 7, or 10 years). After that initial period is over, the rates on ARMs will adjust (and typically increase) each year based on market rate factors.
Better Mortgage has their own software that calculates affordable mortgage rates which consider the factors of credit history, property characteristics and market conditions among others.
Mortgages and mortgage refinancing are typically completed in person, or are a combination of in person and e-signing. In some circumstances mortgages can be closed entirely online including the e-signing of closing documents. Better Mortgage contact support is available 7 days a week, 9 am – 9 pm ET. Better Mortgage has contact support available through email and by phone @ Email: hello@better.com Contact Support Line: 415-523-8837
Since 2016, Better Mortgage has funded over $42 billion in loans including; $30 million in series A funding, $15 million in series B funding, and $160 million in series C funding.
Better Mortgage offers competitive pricing for our borrowers to benefit from. Homeownership services are available through; Better Mortgage, Better Real Estate, Better Settlement Services , and Better Cover. Better Mortgage has a variety of services that can save you money when it comes to zero originating fees, affordable closing costs and helpful insurance affiliates. Save more with Better Mortgage with a hassle-free mortgage process done entirely online
What types of properties are available to purchase using mortgages?
Better Mortgage provides mortgage loans for the following properties: single-family homes, multiple-family homes of up to 4 units, condominiums, townhouses, and planned unit development (PUD).
How long does it take to close the loan once the rate is locked?
Better Mortgage closes 10 days faster than the industry average.Their closing time is 32 days which is 10 days faster than industry average.
What states are Better Mortgage products not available in ?
Not available in; U.S. Virgin Islands, Vermont, Virginia, Nevada, New Hampshire, Massachusetts, Hawaii, and Minnesota.
Where can I find out more about the price guarantee?
This guarantee only applies to certain circumstances. For terms and conditions see here.
Better Mortgage Address
Better Mortgage Corporation NMLS #330511.
3 World Trade Center,
175 Greenwich Street,
59th Floor, New York, NY 10007
*average potential savings based on report from CNBC
