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COVID-19 Related Questions
- Are there alternatives to in-person appraisals?
- Can I close electronically or remotely?
- Will there be delays to closing?
- 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
- How does Better Mortgage determine my mortgage rate?
- 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 does APR mean in mortgage terms?
- 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 I choose a different rate or loan product after I lock?
- Question: What if I need to break my lock?
- 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?
- When will I need to pay these costs?
- 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 mortgage insurance premium (MIP)?
- 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
- Question: How much will my closing costs be?
- 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?
- Question: 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?
- Who can I contact if I have questions about my verified pre-approval letter?
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 quickly can I close my loan?
- Do I need to have an escrow account?
- 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?
- What does a cash reserve or mortgage reserve mean?
- What is a loan commitment?
- 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 a contingency 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?
- What documents and information are used to verify self-employed income?
- Why do I need to provide a 2-year history of self-employed income? What if I can’t?
- Why would my verified income be different than my stated income?
- How have self-employment requirements changed?
- What is the definition of a debt to income ratio?
Credit scores
- How does my credit score affect my mortgage?
- How can I get my credit report?
- What is a soft credit check?
- What is a hard credit check?
- What if I think my score is incorrect?
- What if I don't recognize a credit line that's listed on my report?
- 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?
- What is a credit score?
Appraisals
- What is an appraisal?
- Why do I need an appraisal?
- Question: Can I use or transfer a recent appraisal?
- I know an appraiser. Can he or she complete my appraisal report?
- 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?
- Which home improvements add value to a home?
- Is my appraisal payment refundable?
- What is a home inspection?
- 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?
- What are the next steps in my loan process?
- 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?
- I received a postcard asking me to call a toll-free number about an important matter regarding my mortgage with Better. Did Better Mortgage send this?
- What does escrow mean?
Homeowners Insurance
- What is Better Cover?
- Does Better Cover offer other types of insurance?
- Can Better Cover match my current homeowners insurance policy or quote?
- What is homeowners insurance?
- Do I have to use a Better Cover policy, or can I use my own?
- Can I wait to purchase a homeowners insurance policy with Better Cover after my loan has been funded?
- Does Better Cover offer dwelling insurance?
- What should my dwelling coverage be?
- How do I switch my homeowners insurance policy?
- Can I see homeowners insurance quotes after I’ve already uploaded my own policy?
- How do I pay for my new homeowners insurance policy?
- Can I adjust my homeowners insurance coverages?
- Question: Does getting a homeowners insurance quote affect my credit score?
- What is the difference between Replacement Cost Value (RCV) and Actual Cash Value (ACV)?
- What is flood 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 a mortgage?
- Is homeowners insurance required?
- What does homeowners insurance protect?
- 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 and how does disbursement happen?
- 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 home inspection?
- 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?
- 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 lender’s insurance and owner's title insurance?
- How do I send money prior to closing?
- Do I need a witness for title insurance?
- Will I get refunded the difference if there was an over collection in 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 will my debts be paid with a debt consolidation refinance?
- 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 does home appreciation mean?
- What is the definition of home equity?
- What is a lien on a house?
- Who is Freddie Mac and what do they do?
- Who is Fannie Mae and what do they do?
- What is negative amortization?
- What does a foreclosure mean?
- What does defaulting on a mortgage mean?
- What is notice of default in real estate?
- What is a short sale?
- Question: What is a prepayment penalty?
- What is an investment property?
- What does owner-occupancy 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 convert a conventional loan to an FHA 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 I refinance from another loan type (FHA/VA/USDA) to a conventional loan?
- Do conventional loans also have adjustable rate mortgages?
- Is a conventional loan the same thing as a conforming loan?
- What are the Mortgage Interest Rates on Conventional Loans?
- What credit score do I need for a loan with Better Mortgage?
- 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 in my closing costs when I refinance?
- 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 refinancing help lower or remove my PMI?
- I’m refinancing, do I have to make my current mortgage payment?
- I’m refinancing, why do I need to pay taxes and insurance when they aren't due yet?
- What does my debt-to-income ratio need to be at to qualify for a refinance loan at Better Mortgage?
- What income verification documentation do I need to provide for a refinance?
- Question: Why do I need to pay for title insurance & fees again when I refinance on a home I already own?
- Can Better waive the refinance appraisal fee?
- How long does the refinance process take at Better Mortgage?
Cash-out Refinance
- What is a cash out refinance for debt consolidation?
- What are the maximum Loan to Value Ratios (LTV, CLTV, & HCLTV) for a cash out refinance?
- Does the cash from a cash-out refinance count as taxable income?
- Can you use cash out refinance funds to purchase another property?
- 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?
- What kinds of homes does Better Mortgage offer Jumbo Loans for?
- 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?
- Question: Does it take more time to close on a Better Mortgage jumbo loan?
- Do I need to pay mortgage insurance if I get a jumbo loan through Better Mortgage?
- What kind of terms are available with Better Mortgage jumbo loans?
- 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 still qualify for a jumbo loan at Better Mortgage if I have multiple loans?
- What are the mortgage fees for a jumbo loan at Better Mortgage?
- 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
- Are your agents local to the area I’m in?
- 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 if I prefer to work with a different real estate agent?
- 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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© 2024 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. 3 World Trade Center, 175 Greenwich Street, 57th 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.