How do I qualify for the Better Closing Guarantee?
To qualify for the Closing Guarantee (“Guarantee”), you must have completed the following steps with Better Mortgage for a conventional purchase loan on a single family residence or PUD-detached home after 6/20/2021:
- Obtain a completed conditional approval OR a verified pre-approval and lock at least: For jumbo loans: 30 days before the closing date on your purchase contract; or For conforming loans: 21 days before the closing date on your purchase contract;
- Provide all requested supporting documentation and signed disclosures needed to make a loan decision (e.g., income/asset documents) within 48 hours of each request; and
- Upload a fully executed purchase contract to Better.com within 72 hours of locking a rate.
You are ineligible for the Closing Guarantee:
- If your Better Mortgage loan is for a property located in New York
- If your Better Mortgage loan is denied or withdrawn before the closing date listed on your uploaded purchase contract
- If the closing date cannot be met for reasons outside of Better Mortgage’s control.*
*Terms and Conditions apply. See here.