We get this question a lot! Simply put, many traditional lenders use antiquated, fragmented processes that take a lot of time and people power. At Better, we’ve built technology to streamline the entire homebuying and mortgage process, making it cheaper for us to make the loan which means we can then pass the savings on to you. Win win.
Since our process is entirely online, we don’t have to spend money on things like fax machines, or people whose sole job is to run the fax machines. Plus, our loan officers don’t earn commission, which helps save our clients money. On average, our new homebuyers save $8,200 and clients who refinance save $8,200 over the life of their loans.*
We’ve also developed relationships with over 25 of the largest mortgage investors in the world, from large banks to investment funds to government-sponsored entities like Fannie Mae. Whereas most traditional lenders only work with a handful of investors, we’ve developed technology to match our borrowers with the investors who are most interested in purchasing their loan. This allows us to offer low rates that have saved homebuyers thousands of dollars over the course of their loan.
Technology has updated almost every aspect of our lives, but for too long, the financial industry remained in a black box. At Better, our mission is to make the homeownership process faster, more transparent, and more accessible to all Americans.
*See better.com/claims for details