Better
Pros of Better Mortgage:1. Competitive Rates: Better Mortgage offers competitive interest rates, which can save borrowers money over the life of their loan.2. Fast Closing: Better Mortgage prides itself on its fast closing times. The company claims that it can close a loan in as little as 14 days, which can be beneficial for home buyers who need to close quickly.3. Online Experience: Better Mortgage offers a fully digital mortgage experience, allowing borrowers to complete the entire mortgage process online. This can be convenient for borrowers who prefer to handle their mortgage application and paperwork online.4. Transparent Pricing: Better Mortgage provides transparent pricing, allowing borrowers to see the full breakdown of their closing costs and fees upfront. This can help borrowers make informed decisions about their mortgage.5. Discounted Closing Costs: Better Mortgage offers several ways for borrowers to get discounts on their closing costs. For example, borrowers who use Better Real Estate to find their home can receive up to $2,000 off their closing costs.Cons of Better Mortgage:1. Limited Availability: Better Mortgage is not available in all states. Currently, the lender operates in 44 states and the District of Columbia. Borrowers in states where Better Mortgage is not available will need to look for alternative lenders.2. Limited Loan Options: Better Mortgage primarily offers conventional loans, including fixed-rate and adjustable-rate mortgages. While this may be suitable for many borrowers, those looking for specialized loan programs, such as FHA or VA loans, may need to consider other lenders.3. No In-Person Support: While Better Mortgage offers a fully digital experience, some borrowers may prefer the option to meet with a loan officer in person. Better Mortgage does not have physical branch locations, so borrowers who prefer in-person support may need to consider other lenders.Overall, Better Mortgage offers competitive rates, a fast closing process, and a fully digital experience. However, borrowers should consider the limited availability and loan options before choosing Better Mortgage as their lender.