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Better Mortgage Corp. is a forward-thinking, technology-driven mortgage lender dedicated to simplifying and streamlining the home loan process. The company has become a leader in the mortgage industry by leveraging technology to provide a seamless and transparent borrowing experience. 

Better Mortgage – Company Overview

Better Mortgage started servicing home loans in 2014. Its CEO, Vishal Garg, started the company to combat what he felt was a system prioritizing lenders and brokers rather than homebuyers. Garg created Better Mortgage as a more efficient and workable system for homebuyers to buy their homes faster with reliable and quick financing. 


  • Serves all 50 states
  • 24/7 customer service
  • No origination fees
  • Offers “Better Price Guarantee”
  • Discount for using real estate agent partners


  • No brick-and-mortar locations
  • No USDA Loans

Types of Loans: Conventional Loans, FHA Loans, VA Loans, Jumbo Loans, Refinance Loans

Minimum Down Payment: 3.5%

Minimum Credit Score: 620

The company is part of Better HoldCo, Inc. which includes other Better companies and services, like Better Real Estate, Better Inspect, and Better Home Card. Together, these companies use digital processes to make services simpler for the people using them. 

Better Mortgage serves all 50 states and the District of Columbia. Loans are funded directly by Better Mortgage to homebuyers without a middleman. This speeds up the mortgage process and gives homebuyers a more direct experience with their loan company. As such, Better Mortgage is one of the best mortgage lenders for homebuyers looking for dedicated home loan support along the way.

Why We Like Better Mortgage

Better Mortgage is a mortgage lender that prioritizes simplicity over multiple options and loan types. At the forefront, the company emphasizes the digital experience, ensuring that customers can access everything they need to apply, complete, and manage their mortgages online. In doing so, its focus goes more toward the customer experience than offering the most types of mortgage loans for customers to choose from. 

Better Mortgage’s competitors include:

Homebuyers who prefer to handle their mortgage online rather than visiting a mortgage company in person are the likeliest to enjoy this experience. Better Mortgage makes the entire mortgage process digital, giving homebuyers custom quotes and preapprovals in a matter of minutes. Once a homebuyer finds the home they want to buy, they can continue the approval process online without ever needing to step foot in a brick-and-mortar location.

To help move things along, Better Mortgage’s customer support is open around the clock, every day of the week, to answer questions and assist customers if they have any issues along the way. Having this type of support available is invaluable when buying a home. Plus, the customer care team is trained to help customers find their best solutions rather than selling them something that may not be the right fit.

Another reason Better Mortgage is so popular is that it does not have mortgage origination fees or lender fees like other mortgage lenders have. This means that you can spend less money buying your home without having to worry about unexpected fees, like application fees, underwriting fees, and processing fees. 

Types of Loans

Better Mortgage Corporation keeps its mortgage options rather small compared to other lenders, like Rocket Mortgage and Fairway Mortgage. If you’re not looking for a special type of mortgage loan, like a USDA loan or Fannie Mae loan, Better Mortgage could be right for you. It offers the most common types of home loans — a conventional loan and a jumbo loan — plus refinancing loan options to keep things simple.

Below are detailed summaries of each loan type you can get through Better Mortgage.

Adjustable and Fixed Rate Conventional Loans

The primary loan offering from Better Mortgage is its conventional loans, which are available as adjustable rate and fixed rate mortgages. An adjustable rate mortgage tends to be the better option for homebuyers who aren’t planning to buy their forever home right now. These loans usually have a low interest rate to start with but may increase after a few years. In contrast, a fixed rate mortgage is best for homebuyers who plan to live in their homes for several years, as their interest rate won’t change during the life of their loan.

Conventional loans through Better Mortgage require a minimum credit score of 620. The lender also looks at your credit history, debt-to-income ratio, employment history, and other factors to determine whether you’re a candidate for a conventional loan. 

Better Mortgage allows down payments for as little as 5% on conventional loans. However, homebuyers putting down less than 20% on their home may need to pay mortgage insurance each month.

Jumbo Mortgage Loans

A jumbo loan from Better Mortgage allows homebuyers to buy higher-priced homes than traditional loans allow. For example, you can purchase a multi-unit apartment complex with a jumbo loan if you plan to use it as an investment property. 

Better Mortgage uses conforming loan limits, which vary by location, to determine the minimum value of a jumbo loan. In most areas, the conforming loan limit is $726,200, so a jumbo loan from Better Mortgage could be used with a purchase price of $726,201 or higher. 

Borrowers need a minimum credit score of 700 and a down payment of at least 10% to get a jumbo loan through Better Mortgage.  

VA Loans

Although Better Mortgage keeps its loan type offerings relatively small, it does have VA loan options for qualifying servicemembers and veterans. A VA loan generally provides reduced costs at closing and lower interest rates than traditional loans. Qualifying applicants may also not need to put any money down on their homes. However, the VA funding fee is usually higher for loans with no down payment. 

Currently, Better Mortgage does not service VA loans in Nevada, New York, Oklahoma, Tennessee, and Utah. Applicants must have a minimum credit score of 580. 

FHA Loan

Better Mortgage offers FHA loans to qualifying homebuyers looking for affordable interest rates and lower-than-average down payment requirements. FHA loans are best for borrowers with lower credit scores, as they may qualify for a mortgage with credit as low as 500. Borrowers with credit scores up to 579 must pay at least 10%, while higher credit scores can qualify for down payments of as little as 3.5%. Your debt-to-income ratio must also be 43% or lower to get an FHA loan. 

Refinance Options

Refinancing your current mortgage is also possible with Better Mortgage. The lender has 15, 20, and 30-year refinance options with different interest rates and point values. If applying for a conventional loan refinance, you’ll need a minimum 620 credit score, while jumbo loans require a minimum credit score of 700. 

Better Mortgage lets eligible refinance borrowers roll their closing costs into their loans, so they may not need to pay anything upfront to refinance.

How To Apply for a Better Home Loan

The first step for a borrower to get a Better mortgage loan is to complete a preapproval application. The mortgage preapproval lets you know how much house you can buy based on your income, credit, current mortgage rates, and other factors. This online process takes just a few minutes, and you can use your preapproval letter as you shop to show sellers that you’re serious about potentially buying their home.

After choosing a home to buy, you can get a more in-depth qualification that includes current mortgage rates and a personalized quote for your mortgage. If you want to move ahead with a Better mortgage quote, you can continue to apply. In most cases, Better Mortgage locks in your mortgage rate and funds the mortgage within 21 days. Then, you’ll move into the closing phase where you’ll sign documents, pay closing costs, and get the keys to your new home. 

How To Contact Better Mortgage

Better Mortgage is available by phone 24/7 by calling (415) 523-8837. You can also email [email protected] at any time for questions or concerns that don’t need an immediate response. The company also has a chat feature on its website that you can message around the clock. A representative will contact you as soon as they’re available. 

After the Loan Closes

Like the rest of its mortgage process, Better Mortgage tries to make the closing process as streamlined as possible for customers. The lender sets up the closing with a mobile notary, attorney, or title agency based on where you live and your preferences. You can even have someone come to your home to complete the closing process. Make sure that co-borrowers attend the closing with you, as they’ll also need to sign documents. If someone is helping you financially with your down payment or closing costs, they may also need to be present. Your loan officer should let you know whether this is the case.

Be sure to ask how to make your payment for closing costs, as title companies typically accept different payment methods. Your notary may also have a fee for their services, so bring money or a check with you to pay the notary. Otherwise, you’ll need your government-issued ID and a second form of identification before you can sign paperwork. After closing, your new home is officially yours. The title company will give you the keys to your home. 

Your next step is making your first monthly payment. Depending on your loan, you might make your first payment to Better Mortgage or to one of its service providers that takes over your loan. Most modern lenders allow convenient online payments through online accounts, but many still accept mailed payments and payments made by phone. During closing, you’ll get information for your specific loan discussing how to make your monthly payment. 

Is Better Mortgage Corp. Right for Me?

Better Mortgage could be the right lender for you if you’re looking for a quick mortgage approval process that’s convenient and customer-focused. The company moves the entire mortgage process online, which is excellent for people who prefer more automated experiences. Still, there are customer service agents available every day, just in case you need personalized help along the way.

On the other hand, if you prefer face-to-face interaction as you buy your home, Better Mortgage may not be what you’re looking for. Instead, banks or small, local lenders will likely have the experience you want when buying your home.

However, Better Mortgage does have a few perks for anyone looking for a home loan. For instance, there are no origination or lender fees, so you won’t need to worry about these extra costs as you budget for your home. Also, its loan officers do not get incentivized to give you a specific loan or interest rate. Therefore, they genuinely work for you to find you the best loan for your needs. 

Buying a home is a big step, so it’s important to find a lender that you mesh well with. Consider comparing Better Mortgage to other lenders before making a final choice. You can compare loan types, interest rates, and other important mortgage information on each lender’s website or call their customer service department to determine your best option.