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COVID-19 Related Questions
- Are there alternatives to in-person appraisals?
- Can I close electronically or remotely?
- My employer's operations have changed — are there alternatives to verbal employment verification?
- How have self-employment requirements changed?
About Better Mortgage
- Why choose Better Mortgage?
- Is Better Mortgage a direct lender?
- Will Better Mortgage service my mortgage?
- Question: Does Better Mortgage offer mortgages in my state?
Loan types and products
- What types of mortgages does Better Mortgage offer?
- Do you offer loans for investment properties?
- Do you offer construction or commercial loans?
- Do you offer Texas Cash Out Home Equity Loans?
- Do you offer loans for the purchase of foreclosure or bank-owned properties?
- Do you refinance homes that are held in LLCs?
- Question: Does Better Mortgage offer FHA loans?
- What is the minimum FHA loan credit score Better Mortgage requires?
- How do I qualify for an FHA loan with Better Mortgage?
- What is the minimum FHA loan down payment amount Better Mortgage allows?
- What is the FHA debt-to-income ratio limit at Better Mortgage?
- What is a cash-out refinance?
- What does FHA stand for and what do they do?
- What's the definition of a conforming loan?
- What is the definition of a conventional mortgage?
- What is a refinance?
- What are VA loans?
Better Price Guarantee
- What is a Loan Estimate?
- What's the fine print?
- How does Better Mortgage keep their prices so low?
Rates
- Will I get the same rate I was quoted?
- What is included in the monthly payment?
- What are points and credits?
- How do I get the Better Real Estate discount?
- What's the fine print for the Better Real Estate discount?
- What is a 5/1 ARM?
- What is a fixed rate mortgage?
- What is a loan term?
- What is a mortgage interest rate?
- What is an adjustable rate mortgage?
- What is a rate lock?
- What's the definition of basis points or BPs?
Locking
- What exactly does "locking" mean?
- Can you change your interest rate after locking?
- Will I get a rate lock cancellation fee if I need to break it?
- What happens if my lock expires before my loan is complete?
Home purchase loan costs
- Where can I get a cost estimate?
- How much will it cost me to buy a home?
- Which third-party fees will I be charged?
- Which third-party fees does the seller pay?
- Does Better Mortgage charge pre-payment penalties?
- What does cash to close mean?
- What does amortization mean?
- What is MIP (Mortgage Insurance Premium)?
- What does PITI stand for in real estate?
- What does the principal mean on a home loan?
- What is private mortgage insurance?
Refinance loan costs
- What will my closing costs be, and what should I expect?
- When will I be expected to pay fees?
- What will be the payoff amount of my current mortgage?
- Does Better Mortgage charge pre-payment penalties for refinance?
Pre-approval letters
- What is a pre approval letter?
- What types of pre-approval letters does Better Mortgage offer?
- How do I get a pre-approval letter?
- How long does it take to get a pre-approval letter?
- How much does it cost to get a pre-approval letter?
- Will my verified pre-approval letter look different from my basic pre-approval letter?
- Is a hard credit pull required to get a verified pre-approval letter?
- Why would my verified income be different than my stated income?
- Why would my verified assets that are used to determine my down payment be lower than expected?
Loan process
- Will I have a point of contact at Better Mortgage?
- Am I committing to Better Mortgage by getting pre-approved?
- What do I need to do to lock my rate?
- How long does it take to close a mortgage loan?
- Is escrow required when you are getting a new mortgage?
- Can I transfer my current escrow account?
- Is my data secure?
- When should I get a real estate agent?
- What does close of escrow mean in real estate?
- What does a cash reserve or mortgage reserve mean?
- What is a loan commitment letter in real estate?
- What is a gift letter for a mortgage?
- What is a flood certification?
- What does closing on a house mean?
- What is a closing disclosure?
- What is a co-applicant on a mortgage?
- What is the meaning of co-borrower on a mortgage?
- Question: What does collateral mean on a mortgage loan?
- Question: What does comparable sale or comp mean in real estate?
- What is the definition of a down payment?
- What is a loan consultant and what do they do?
- What does a loan processor do?
- What is a mortgage note?
- Question: What is a purchase contract in real estate?
- What are qualifying ratios and how do mortgage lenders use them?
- What is a survey in real estate?
- What is a termite letter for closing?
- What is an underwriter and what do they do?
Income
- How do I know if I qualify as self-employed?
- Why do I need a 2-year history of self-employment income?
- Why would my verified income be different than my stated income?
- How have self-employment requirements changed?
Credit scores
- How does my credit score affect my mortgage?
- What is a soft credit check?
- What is a hard credit check?
- How do multiple credit checks work?
- How do you choose which credit score to use?
- What if I’m applying with a co-borrower?
- Is my credit score too low to apply?
- What is a FICO score?
- What is a credit check and how is it used?
Appraisals
- What is an appraisal?
- Why do I need an appraisal?
- Question: Can I use or transfer a recent appraisal?
- How long does an appraisal inspection take?
- What is the difference between a home inspection and an appraisal?
- How does the appraiser determine the value of my home?
- If the appraised value of my home goes up, will this affect my taxes?
- What does an appraisal report look like?
- Is my appraisal payment refundable?
- What is the definition of an appraisal?
- What is a loan to value (LTV) ratio in real estate?
- What does market value on a home mean?
Loan servicing
- Who do I contact if I have questions about my loan after closing?
- How will my loan be serviced after closing?
- What is the role of a servicer, and what is a subservicer?
- I thought Better Mortgage is a direct lender, not a broker
- Will Better Mortgage help me if there are concerns with my transfer?
- Does this mean I have a new point of contact?
- How do I set up an account for payments?
- How do I make my first payment?
- How long will it take for my credit report to update?
- Looking for your payment portal?
- Is Better Mortgage offering any COVID-19 relief to borrowers?
- Did Better Mortgage Send Me a Postcard About My Loan?
- What does escrow mean?
Homeowners Insurance
- What is Better Cover?
- Does Better Cover offer other types of insurance?
- What is homeowners insurance?
- Do I have to use a Better Cover policy, or can I use my own?
- What should my dwelling coverage be?
- How do I switch my homeowners insurance policy?
- How do I pay for my new homeowners insurance policy?
- Can I adjust my homeowners insurance coverages?
- Do insurance quotes affect credit score, and should you be concerned?
- What's the difference between ACV vs. RCV in home insurance?
- What is condo insurance?
- Why does a mortgage company like Better offer homeowners insurance?
- Does Better Cover have advantages over traditional providers?
- Is homeowners insurance included in mortgage?
- Is homeowners insurance required?
- When do I need to pay my homeowner’s insurance policy in full?
- Are there any deductible requirements for homeowners insurance (HOI)?
- Is Hazard Insurance the same as Homeowners Insurance? Understanding the differences
- Do I have to pay homeowners insurance through escrow?
- Is homeowner’s insurance tax deductible?
- How much does homeowners insurance with Better Cover cost?
- What’s the minimum coverage I need with my homeowners insurance?
- What types of homeowners insurance does Better offer?
Title and Settlement services
- What is Better Settlement Services?
- Question: What are title and title insurance?
- Do I need to repurchase title insurance when I refinance?
- What are title fees?
- What does a title company do?
- Can I choose my own title company?
- What is the difference between title and deed?
- What happens at closing, and what should I bring?
- When does a mortgage disbursement happen? Key info you need to know
- Is it safe to wire money to a title company?
- Why are taxes paid through the title company?
- How can I get in contact with Better Settlement Services (BSS)?
- What are closing costs?
- What are prepaid costs when buying a home?
- What are settlement costs?
- What is a final walk-through when you buy a home?
- What is a title in real estate?
- Question: What is a transfer tax?
- What is earnest money in real estate?
- What is occupancy date and is it the same as closing date?
- What is title vesting in real estate? Title vesting meaning
- What is underwriting?
- What is title insurance?
- Question: Does my spouse need to be on my title insurance?
- Question: What kind of issues can a title search reveal?
- What’s the difference between a lender and owner title insurance?
- How to pay cash to close when buying a new home
- Will I get refunded if I overpaid property taxes compared to my bill?
- My property taxes are already paid off and there is still a collection in Section F prepaids, what should I do?
- How will I get my cash out funds?
- How your debts are paid when you refinance debt?
- My property is in a trust, how does that work in a refinance?
- What is Better Settlement Services and what does a title company do?
Mortgage Basics
- What is the definition of home equity?
- Who is Freddie Mac and what do they do?
- Who is Fannie Mae and what do they do?
- What is negative amortization?
- What is a notice of default in real estate, and why is it important?
- What is a short sale?
- What is a prepayment penalty, and how can you avoid it?
- What is an investment property?
- What does owner occupied mean for a mortgage loan application?
- What is the definition of a primary residence?
- What is a secondary home?
- What is the definition of a condominium?
- What is a HOA?
- What is a PUD?
- What is a co-op?
- What is a first mortgage lien?
Conventional Loans
- What is the Definition of a Conventional Loan?
- Are conventional loans secured/insured/protected by the FHFA?
- Can I refinance an FHA to a conventional loan?
- Can I finance Rent to Own Purchase on Conventional Loans with Better?
- Can I get a conventional loan for secondary homes?
- Can I get a conventional loan for vacation or investment properties?
- Can you refinance a VA loan into a conventional loan?
- Do conventional loans also have adjustable rate mortgages?
- Conforming loan vs a conventional: Are they the same thing?
- What are the Mortgage Interest Rates on Conventional Loans?
- What's the minimum credit score for a conventional loan with Better?
- What do I need to apply for a conventional loan with Better?
- What is the maximum amount I can take out with a conventional loan?
- What kind of loan term lengths does Better offer?
- What types of conventional loans does Better offer?
- Question: When do I need to pay PMI on a conventional loan?
- When should you lock in your rates with a conventional loan?
- Question: Where can I get a conventional loan?
Refinancing your mortgage
- Can I roll closing costs into a mortgage?
- How many times can I refinance with Better Mortgage?
- How will a refinance affect my monthly mortgage payments?
- What closing costs can I expect when I refinance?
- What credit score do I need to refinance?
- What type of refinance loans does Better Mortgage offer?
- Will I need an appraisal for a refinance?
- Can a borrower refinance from another loan type (FHA/VA/USDA) to a conventional loan?
- Can I add a co-borrower to my refinance application?
- Can I add someone to my title but not my refinance loan?
- Question: Can I Use a Gift For Closing Costs On a Refi?
- Can I refinance to get rid of PMI and lower my monthly payments?
- I’m refinancing, do I have to make my current mortgage payment?
- Why should I pay taxes & insurance when refinancing if they aren't due?
- What's the debt-to-income ratio I need for refinancing?
- Do I need proof of income to refinance my house?
- Why do I pay for title insurance & fees when I refinance my own home?
- Can Better waive the refinance appraisal fee?
- How long does the refinance process take at Better Mortgage?
Cash-out Refinance
- Learn more about cash-out refinance for debt consolidation
- What's the maximum Loan to Value Ratios for a cash out refinance?
- Does the cash from a cash-out refinance count as taxable income?
- Can I use a cash-out refinance to buy a second home?
- What is the maximum cash out refinance formula?
Jumbo loans
- What are the Jumbo Loan amounts offered at Better Mortgage?
- What qualifies as a Jumbo Loan at Better Mortgage?
- How do I get pre-approved for a Jumbo Loan with Better Mortgage?
- Does Better Mortgage offer Jumbo Loans?
- Are Better Mortgage jumbo loan rates and conforming rates different?
- Can I buy mortgage points to lower my rate for a jumbo loan at Better Mortgage?
- Does it take more time to close on a Better Mortgage jumbo loan?
- Is mortgage insurance required for jumbo loans with Better?
- What credit score do I need to qualify for a jumbo loan at Better Mortgage?
- What DTI do I need to qualify for a jumbo loan at Better Mortgage?
- What is the down payment minimum for a jumbo loan at Better Mortgage?
- Can I qualify for a jumbo loan at Better if I have multiple loans?
- What is a jumbo loan?
- What is a nonconforming loan?
Mortgage points and credits
- Does Better Mortgage allow you to purchase points on a mortgage?
- Can I buy mortgage points to lower my rate for a jumbo loan at Better Mortgage?
- Does Better Mortgage allow you to purchase points on a mortgage?
- Question: Does buying mortgage points increase my closing costs?
- How do I know if buying mortgage points is worth it?
- What are points and credits?
- What is the most lender credit Better Mortgage offers customers?
- Which loans does Better Mortgage allow you to purchase points?
- What is the lender credit limit at Better Mortgage?
- What are discount points on a mortgage?
- What are lender credits?
Better Closing Guarantee
- What is the Better Closing Guarantee?
- How do I qualify for the Better Closing Guarantee?
- What is considered closing on time?
- What is not covered by the Better Closing Guarantee?
- What's the fine print for the Better Closing Guarantee?
- Who is eligible for the Better Closing Guarantee?
Better Real Estate
- Can an agent get notified about their client’s mortgage loan status?
- Do I need a real estate agent to buy or sell a home?
- How can I get in contact with Better Real Estate (BRE)?
- How do I qualify for the Better Real Estate discount?
- What are the benefits of working with Better Real Estate?
- What does a buyer’s agent do?
- What is Better Real Estate?
- What kind of properties does Better Real Estate work with?
- What’s an Agent Experience Partner?
- Who are Better Real Estate’s agents?
- What does a real estate agent do?
- What is a listing agent and what do they do?
- What's the fine print for the Better Real Estate discount?

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© 2025 Better Home & Finance Holding Company and/or its affiliates. Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC and Better Real Estate California Inc License # 02164055 provides real estate services; Better Cover, LLC sells insurance products; and Better Settlement Services provides title insurance services; and Better Inspect, LLC provides home inspection services. All rights reserved.

Home lending products offered by Better Mortgage Corporation. Better Mortgage Corporation is a direct lender. NMLS #330511. 1 World Trade Center, 80th Floor, New York, NY 10007. Loans made or arranged pursuant to a California Finance Lenders Law License. Not available in all states. Equal Housing Lender. NMLS Consumer Access

Better Real Estate, LLC dba BRE, Better Home Services, BRE Services, LLC and Better Real Estate, and operating in the State of California through its wholly owned subsidiary Better Real Estate California Inc., is a licensed real estate brokerage and maintains its corporate headquarters at 325-41 Chestnut Street, Suite 826, Philadelphia, PA 19106. Here is a full listing of Better Real Estate, LLC’s license numbers. Better Real Estate, LLC provides access to real estate brokerage services via its nationwide network of partner brokerages and real estate agents (“Better Real Estate Partner Agents”). Equal Housing Opportunity. All rights reserved.

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Better Settlement Services, LLC. 325-41 Chestnut Street, Suite 803, Philadelphia, PA 19106.

Homeowners insurance policies are offered through Better Cover, LLC, a Pennsylvania Resident Producer Agency. License #881593. 325-41 Chestnut Street, Suite 807, Philadelphia, PA 19106.

Insurance quotes and policies are offered through Better Cover, LLC. A Pennsylvania Resident Producer Agency. License #881593. Here is a full listing of Better Cover, LLC’s license numbers.

Better Inspect, LLC maintains its corporate headquarters at 325-41 Chestnut Street, Suite 846, Philadelphia, PA 19106.

Better Mortgage Corporation, Better Real Estate, LLC, Better Settlement Services, LLC, Better Cover, LLC, Better Connect, LLC dbs Better Attorney Match, and Better Inspect, LLC are separate operating subsidiaries of Better Home & Finance Holding Company. Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation, and applicable and legal and regulatory requirements. Products not available in all states.

Any unauthorized use of any proprietary or intellectual property is strictly prohibited. All trademarks, service marks, trade names, logos, icons, and domain names are proprietary to Better Home & Finance Holding Company. Better Home & Finance Holding Company trademarks are federally registered with the U. S. Patent and Trademark Office. Better Cover is a registered trademark with the U.S. Patent and Trademark Office and is owned by Better Cover, LLC.

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