Better Mortgage is a direct lender dedicated to providing a fast, transparent digital mortgage experience backed by superior customer support. From our offices in New York City, we're using technology to change the way people finance their homes, for the better. With Better Mortgage, you can apply for a pre-approval online, 24/7 without ever paying loan officer commission. With Better Mortgage, you're in control. Your entire application is on one platform and help is only a click away.
Better is the best mortgage lender
They made it so easy. Everything is trackable online. You know exactly whats going on all the time. You are never left in limbo. They closed in 23 days. Thats super quick. They are very responsive, respond usually within 2 hours.
Using technology at best for the incredibly scary complicated mortgage process. These people are the Apple and Tesla of the mortgage industry.
Bad Experience Wasted My Time and Money
They've streamlined everything and made most interactions online which is very convenient. You enter your data on their site and they have you electronically sign most of the documents. Even your loan application is all filled out for you.
The problem is that their system goes off a "snapshot" of your credit. So when my "snapshot" was taken, I was in the middle of paying off $30k in outstanding debt (waiting for my annual bonus to make the payoff). So my snapshot included $30k in debt plus my mortgage and car lease. By their calculations, my DTI (debt-to-income) ratio was 43% even though I could never reach the same number using the data that they put on my loan application (you know, the one they fill out for you). I sent copies of statements that showed the $30k was paid off. My agent never acknowledged the email.
I even complained that they left a couple of things off my assets column - $50k in my stock account and another $30k in a separate savings account - but again, my complaint wasn't addressed by the agent.
We got to nearly the end of the process and were just waiting for the underwriter to give final approval and they came back and said my DTI ratio was too high. Remember, this DTI is based off debt that included the $30k that was now paid off. And by looking at their data that they put on my loan application, if I remove the $30k in debt, my DTI would be about 30%. Somehow, they could not adjust for the paid off $30k and my DTI remained too high and my application was cancelled. I lost $500 on an appraisal fee and about a month's worth of time. I don't think it's their system - it may just be that I was assigned a horrible agent. Either way, I can't in good conscience recommend them to anyone.
I have a new lender and they have no problem whatsoever with my DTI. Go figure.
The agent was very diligent in finding the best rate given my situation. Very accommodating, and felt he was very honest throughout the process.
Loan officer directory
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