|Loan Term||15 - 30 years|
|Loan Amount||Up to $3,000,000|
Better.com is a mortgage refinance offering by Better.com, a direct lender based in New York, NY. Founded in 2014, Better.com offers mortgage refinancing to borrowers in 30 states across the USA (and Washington, DC).
What is the maximum loan term for a mortgage refinance via Better.com?
The term of a mortgage refinance will determine 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 offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with Better.com?
Better.com will typically fund mortgage refinances within 42 days of approval.
Does Better.com charge a mortgage origination fee?
No, Better.com 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 charge prepayment fees?
No, Better.com 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 offer?
Better.com 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 allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Better.com allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Jersey
- North Carolina
- North Dakota
- South Dakota
- West Virginia