What kind of loan term lengths does Better offer?
Better Mortgage offers fixed-rate conventional loans with 10-, 20-, and 30-year terms. These loans are ideal if you’re looking for a loan with predictable monthly payments as the interest rate remains the same for the loan’s full term.
Better Mortgage also offers adjustable-rate mortgages (ARMs), which are conventional loans available in 5yr/6m, 7yr/6m, and 10yr/6m terms. ARMs are unique because their interest rates are fixed for the first few years of the loan, then the rate adjusts based on market conditions. These mortgages are worth considering if you only need the loan for a few years, as ARMs from Better Mortgage do not have prepayment penalties.