If you’re buying a home or thinking of refinancing, you’ve probably heard about Better.com—the fast-growing, fully digital mortgage lender that’s shaking up the industry. But is Better.com legit? Does it really offer lower rates and faster closings? And how does it stack up against traditional banks or mortgage brokers?
In this in-depth Better.com review, we’ll explore everything you need to know about this digital mortgage platform in 2025—from how it works and what makes it different, to its pros, cons, and how to decide if it’s right for your home loan needs.
What Is Better.com?
Better.com is an online mortgage company that aims to simplify and streamline the process of buying a home or refinancing. Launched in 2016, Better.com uses technology to eliminate middlemen, cut down on paperwork, and reduce loan costs.
It offers:
- Home purchase loans
- Mortgage refinancing
- Real-time rate quotes
- Pre-approvals in minutes
Better.com is licensed in all 50 states, and all processes—from application to approval—are handled entirely online.
How Better.com Works
Here’s how Better.com simplifies the mortgage process:
🖥️ Step 1: Online Application
Start by visiting Better.com and filling out a simple form with your:
- Home purchase or refinance details
- Credit score range
- Employment and income information
💬 Step 2: Get a Rate Quote
Better.com gives you customized mortgage rate quotes within minutes—without a hard credit check.
🏦 Step 3: Get Pre-Approved
Once you select a rate, you can get pre-approved within 3–5 minutes. Pre-approvals are key when shopping for a home and can strengthen your offer.
🧾 Step 4: Upload Documents
Upload financial documents such as pay stubs, tax returns, and bank statements through the secure dashboard.
✅ Step 5: Underwriting & Closing
Better’s team handles everything from underwriting to closing coordination. Most customers close in 21 days or less, compared to the industry average of 30–45 days.
What Makes Better.com Different?
💸 1. No Commission Loan Officers
Better.com uses salaried loan consultants—not commission-based mortgage brokers. This removes sales pressure and focuses on customer satisfaction, not upselling.
⚡ 2. Fast, Digital Process
Everything is online: applications, document uploads, rate locking, and communication. This means no physical paperwork and much faster turnaround times.
🔍 3. Transparent Rates & Fees
- No lender fees
- No application, origination, or underwriting fees
- You can compare real-time quotes and lock your rate instantly
💼 4. Full Suite of Home Services
Better.com has expanded beyond mortgages and now includes:
- Better Real Estate (agent matching service)
- Better Cover (home insurance)
- Better Settlement Services (title and closing support)
This makes it a one-stop shop for homebuyers.
Types of Loans Offered by Better.com
| Loan Type | Details |
|---|---|
| Conventional Loans | Fixed and adjustable-rate loans with 3–20% down |
| FHA Loans | Low down payment (as low as 3.5%) for first-time buyers |
| Jumbo Loans | High-value property financing (above conforming limits) |
| Refinance Loans | Lower your rate or tap equity via cash-out refi |
Note: Better.com does not currently offer VA or USDA loans, which may be a drawback for some.
Better.com Rates and Fees
📉 Mortgage Rates
Better.com offers competitive, low rates, often below national averages. You can view current rates on their website in real time, personalized to your financial profile.
💵 Fees
- $0 lender fees
- No application fee
- No underwriting or origination fees
- You’ll still pay third-party fees (e.g., appraisal, title), which are standard in the industry
Better.com vs Traditional Mortgage Lenders
| Feature | Better.com | Traditional Lender |
|---|---|---|
| Application Method | 100% Online | In-person / Paper-heavy |
| Lender Fees | $0 | $1,000–$3,000+ |
| Loan Officers | Salaried | Commission-based |
| Pre-Approval Time | ~3 minutes | 24–72 hours |
| Closing Time | ~21 days | 30–45 days |
| Available in All States | ✅ | Varies |
Verdict: Better.com is ideal for tech-savvy buyers looking for speed, transparency, and lower costs.
Better.com Reviews & Ratings
⭐ Trustpilot: 4.2/5 (based on thousands of reviews)
⭐ Better Business Bureau (BBB): A+ Rating
⭐ Google Reviews: 4.5/5
“Better.com made refinancing my home incredibly easy. The online interface is simple and clear. I closed in just 18 days!” — Amanda R.
“Best mortgage experience I’ve ever had. No pressure, no hidden fees. Everything was up front.” — Marcus T.
Pros and Cons of Better.com
✅ Pros
- Zero lender fees
- Fast online pre-approval
- Transparent rate comparisons
- Excellent customer support
- One-stop solution (insurance, title, agents)
- Works in all 50 states
❌ Cons
- No VA or USDA loans
- Online-only (no local branches)
- May not suit buyers who prefer face-to-face interaction
Is Better.com Safe and Legit?
Yes, Better.com is a legitimate, licensed lender. It is backed by major investors including Goldman Sachs and SoftBank. The platform is encrypted and compliant with all federal lending laws.
Who Should Use Better.com?
Better.com is ideal for:
- First-time homebuyers looking for a simple digital experience
- Homeowners wanting to refinance with low fees
- Tech-savvy buyers comfortable uploading documents and managing the process online
- People in competitive markets who need fast pre-approval and closing
Frequently Asked Questions (FAQs)
❓ Can I refinance with Better.com?
Yes. Better.com offers traditional refinancing and cash-out refinance options.
❓ How does Better.com make money?
They earn a percentage of the loan amount from investors who buy the mortgage—not from charging borrowers fees.
❓ How fast can I close with Better.com?
Most users close in 21 days or less, depending on how quickly you submit documents and schedule the appraisal.
❓ Can I use my own real estate agent or insurance provider?
Yes. You’re not required to use Better’s affiliated services, but bundling may streamline the process.
Final Verdict: Is Better.com Worth It?
Yes—if you’re looking for a fast, fee-free, and transparent mortgage experience.
Better.com has successfully reimagined the mortgage process for the digital age. With its no-commission model, real-time rate comparisons, and fast closings, it’s ideal for buyers who want control, speed, and simplicity.
While it may not be the best fit for complex loan types like VA or USDA, it’s one of the top platforms for conventional and FHA loans in 2025.
Ready to Get Started?
👉 Visit Better.com to get your free rate quote and start the pre-approval process in minutes.