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  Better.com Mortgage Refinance

Better.com Mortgage Refinance

in Mortgage Refinance from Better.com · NMLS ID #330511

Unaffiliated

Better.com Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Better.com · NMLS ID #330511

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Highlights
Highlights
Community Rating

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Loan Amount Up to $3,000,000
Loan Term (Years) 15 - 30 years

Better.com Mortgage Refinance Review

Better.com Mortgage Refinance is offered by Better.com (NMLS #330511), a direct lender founded in 2014 and based in New York, NY. Better.com Mortgage Refinance is available in 40 states (and Washington, DC).

Key Takeaways
  • Only offers one mortgage pogram. Better.com Mortgage Refinance only refinances FHA mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Non-standard interest rates available. Better.com Mortgage Refinance only offers hybrid mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No origination fee. Better.com Mortgage Refinance does not charge a fee for processing your loan application.
Better.com Mortgage Refinance Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • $0 origination fee.
  • Available in 40 states.
Better.com Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Better.com Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Better.com Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.

What is the estimated funding time for a mortgage refinance with Better.com Mortgage Refinance?

Better.com Mortgage Refinance will typically fund mortgage refinances within 42 days of approval.

Does Better.com Mortgage Refinance charge a mortgage origination fee?

No, Better.com Mortgage Refinance does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Better.com Mortgage Refinance charge prepayment fees?

No, Better.com Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does Better.com Mortgage Refinance offer?

Better.com Mortgage Refinance offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.

What property usage types does Better.com Mortgage Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Better.com Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday 9:00am - 9:00pm
  • Monday 9:00am - 9:00pm
  • Tuesday 9:00am - 9:00pm
  • Wednesday 9:00am - 9:00pm
  • Thursday 9:00am - 9:00pm
  • Friday 9:00am - 9:00pm
  • Saturday 9:00am - 9:00pm

Other Services by Better.com

Availability

  Available in 40 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
APR Starting at 3.25%
Loan Term 15 - 30 years
Loan Amount Up to $3,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs FHA
Terms 5/1, 7/1, 10/1, 15, 20, 30 years

Better.com Mortgage Refinance Community Reviews

 

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