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.
Online process was quick and mostly easy, but as we approached closing the experience slid downhill. If you don't care about your time, or can easily take a full day off of work, it might work for you. For closing, they contract through a third party if you want to have someone come to your home for a non-trivial charge. However, despite confirmation of my time, the notary never showed. This meant 3 hours of missed work and lost money for childcare. It took more time and calls to finally get a new time, requiring more time off for the same window and childcare again. A closing that shouldn't have cost anything out of pocket ended up being thousands more because of lost work and costs they couldn't roll into the loan.
Jeff from Valrico, FL
Reviewed in September 2021
Closed with Lender:
Yes
Loan Type:
Refinance
Review Type:
Lender Review
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(1 of 5)stars
Underwriters are terrible.
No good communication at all from the underwriters. They kept asking for documents that they already had. So I don’t think they even read them. Or if they do they don’t know how to comprehend what they read, in which case they’re in the wrong business. Or at least the people looking to deal with them are looking at the wrong business to deal with… Very frustrated. Still waiting on reimbursement for money….. I would strongly recommend people to avoid these people, if you’re actually looking to get a mortgage agreement completed. Good luck
Joe from Powder Springs, GA
Reviewed in August 2021
LendingTree Customer:
Yes
Loan Type:
Home Purchase
Review Type:
Lender Review
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(1 of 5)stars
Go Elsewhere-Terrible Service, Terrible Experience
This process was drawn out and lengthy. I uploaded everything requested within a day of the request. They continued to ask for documents that had already been uploaded. Their underwriters took forever to review. They then assured me it was likely to be approved to induce me to pay for an appraisal up front. Despite the appraisal coming in at over 2M, and the refinance amount being 500k, and personal income exceeding 250k, they took nearly a month to decline the loan. Go elsewhere. Their underwriters have their heads on backwards.
Scott from Austin, TX
Reviewed in July 2021
Loan Type:
Refinance
Review Type:
Lender Review
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(1 of 5)stars
Bad Experience
Everything seemed great in the beginning, this is why we chose them but things took a turn within a few weeks. Huge lack of communication. Underwriting process is the worse they ask for the same documents over and over without explaining anything in detail. It takes days to get a response. They took so go to get our title work ordered that closing has now been delayed twice. The seller is ready to walk at this point and we don't even have a new closing date set. I agree with everyone of the previous bad reviews. I'm ready to call it quits myself and find a new mortgage company.
Alexis from Okmulgee, OK
Reviewed in June 2021
Closed with Lender:
Yes
Loan Type:
Home Purchase
Review Type:
Lender Review
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(1 of 5)stars
Worse Mortgage
AVOID! They should be called Worse Mortgage! When they sold the account to a different servicer before I even made a payment to them, they gave me the wrong account number with the new servicer. So, when I set up my auto-pay with my bank for the new loan servicer, the money left my checking account and did not go to the right account # at the new servicer. Absolute headache. More trouble than they are worth.
I was hooked on Bet***.com because of their phenomenally low rates, which I would later learn were too good to be true. Their online portal is easy to use, so I uploaded everything that was asked for. I'm weeks into the process and have not been given any indication that there are any problems. But about FIVE WEEKS into the underwriting process, they suddenly tell me my DTI is off because of the way they've calculated my income (they wouldn't count any rental property income despite the fact that it had been on my tax returns for five years) because of "investor requirements." I had been assigned a "Processing Expert" who was not licensed in California and turned out to be my only point person through the rest of the process. Because of the licensing issue, every time I needed a basic question answered about my financial situation, she would have a colleague reach out to me with the answer. At this point, we are a couple weeks from the close date, so I'm getting a little worried. It becomes clear that the only way to save the deal is to complete all of my 2020 tax returns (multiple companies plus personal). We get an extension on the close and begin the huge amount of work to complete all the tax returns in a short amount of time. It all gets done and submitted. It's coming down to the wire, and I'm nervously awaiting some good news knowing that the 2020 income is more than enough to get me where I needed to be. Days go by and they drop the news that my DTI hasn't moved a bit because they "made a mistake" in the original income calculation. I couldn't risk extending this slow and terribly inefficient communication with underwriting any longer, so I had to bail and try to find another lender who could step in and save the deal (rates had gone up significantly since I had locked). I won't mention the other lender, since this review isn't about them, but this other company was able to pull off application to close in 17 days (I signed docs today and close in two days). I'm only writing this to warn others not to be fooled by the ridiculously low rates. They come with a cost - slow and inefficient communication. I would recommend going somewhere where you have direct access to a loan broker who understands the underwriting process.
Jackson from Los Angeles, CA
Reviewed in April 2021
Loan Type:
Home Purchase
Review Type:
Lender Review
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(1 of 5)stars
Find Something Else!
The worst experience ever. Be ignored once you lock interest rate. Too many tasks! Not worth it.....
Roel from Indianapolis, IN
Reviewed in April 2021
Closed with Lender:
Yes
Loan Type:
Home Purchase
Review Type:
Lender Review
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(1 of 5)stars
I had a very unpleasant experience with Bet***.com Home Mortgage
I had a very unpleasant experience with Bet***.com Home Mortgage. The home appraiser they sent deliberately low-balled my home value, $120,000 less than the last appraisal, to be precise! He not only used a comparable that was sold 4 years ago, he also reduced the square footage of my home drastically. Bet***.com representatives would not take any action against the incorrect appraisal and refused to oblige to any requests I was making to validate the appraisal or to order a new one. Overall, a very unfortunate experience - wasted my $550 in appraisal fee, and wasted substantial amount of my time.
Zach from Bartlett, IL
Reviewed in March 2021
Loan Type:
Refinance
Review Type:
Lender Review
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(1 of 5)stars
Awful.
My wife and I were feeling out some different loan companies for a cash-out refinance on a home improvement project we are starting in a few months. Better's website was very nice, but I just wanted to see what we were pre-qualified for as we planned to make a choice in May. I was enticed by their online services. Well, after I applied I received a phone call follow up. I couldn't compare my exact rate, because they didn't offer a rate without points(par rate). After my immediate phone call where I told them I couldn't make a decision until April, I received a follow up phone call from someone else who seemed oblivious to my first conversation. Then I received an e-mail from a third person who also seemed oblivious to the fact that I asked them to stop contacting me. I told them that we would make a choice based on the lowest rate in May after our designs were finished. I have since received 3 more e-mails from three different people. It feels like I'm dealing with a sleazy web marketing company rather than a legitimate company.
Devin from Kittery, ME
Reviewed in March 2021
Loan Type:
Refinance
Review Type:
Lender Review
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(1 of 5)stars
Be careful about small scams in the process of loan!
Be very careful about this company. There may be many small scams in the process of mortgage or refinancing. I paid home insurance premium to the mortgage's escrow account. But it turns out Bet***.com didn't pay my insurance company at all and tried to steal my payment without my knowledge. Even worse, my home insurance company cancelled my policy because of no payment from Better. So I have actually no home insurance for a couple of months! And Better. com refused to correct their error, and asked me to solve this issue that was completely caused by their fault or intention to steal my money away! Avoid this company!
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