No attention to detail
There is a lack of reading documents that are filled out and sent over. Chose my own closing attorney and title search attorney and it was ignored through the process. Due to them not reaching out to that attorney and just pushing with their defaults as if I didn’t select them is ridiculous, and caused a huge delay in getting signed/ closed for heloc. By this meaning, because they didn’t reach out when we started, the closing is now pushed out a month. I had to resort to their closing mobile attorney because the signed documents on my preferences were not recognized and read in the process. Better just used their own processes and ignored my right to request alternative.
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Fast and convenient
The entire process is simple and seamless
So easy
It’s literally like using Amazon to get a loan. It’s so easy and fast. Never in history has it been this easy
Funded quickly!
Mortgage funded quickly and we were able to buy our dream house!
Best Rates
I secured my first mortgage with Better and was able to secure much lower rates than other were offering. You need to be using this app!
Impressed
I had to buy my first home with this company. They gave me the best rate and made the process really simple! Thanks!
The best fastest way to get a mortgage!
The best fastest way to get a mortgage!
Good for most people, maybe.. who knows
One of the first things they have you do is pay for an appraisal: they require this to lock a rate. This is pretty backwards in terms of industry standards. It is likely very good for efficiency (as they’d frame it), if you have high confidence that you’ll use Better (which they’d want you to believe). What they may not want you to consider is that this very likely increases their conversion rates substantially, for better or worse for you: you basically immediately sink some cash into the deal, which can feel committal if $500 ~ $600 means something to you. The appraisal turnaround time is VERY FAST: one or two business days. This basically precludes any substantial document review or underwriting which may inform your actual ability to be funded by Better. My imagination tells me that lot of people must be paying for appraisals for loans that never get funded. This is something that would occur normally in the industry as well, but intuitively it would occur way more often for Better, at cost distributed to potential non-customers and nobody else. I believe the structure is very beneficial to the business (for growth and conversion), and likely leads to a lot of happy customers (who get lightning fast underwriting), but also likely leads to a higher than normal proportion of unhappy customers who wish they could hold off on appraisals until there is at least some indication of compatibility, something which many if not most other lenders would provide.
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