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Frequently asked questions

How much will it cost me to buy a home?

Great question. Here are the upfront costs to expect when you purchase a home:

  1. Down payment: This is the portion of the purchase price you agree to cover.
  2. Third-party fees: These are fees paid to third parties, not Better Mortgage. These services are required to get a purchase loan no matter which lender you use and we donโ€™t mark up the prices. Some of those fees may be paid by the seller. Examples include the appraisal fee, title insurance, and transfer taxes.
  3. Escrow deposit: If you choose to pay for your homeownerโ€™s insurance and taxes as part of your monthly loan payments, you will need to pay an initial deposit so the account can cover future payments. The number of months required will depend on when these items are due for payment relative to your closing date.
  4. Pre-paid interest: This is a one-time upfront interest payment due at closing. It covers interest from the day of closing through the end of the month.
  5. (optional) Loan points: We allow you to get a lower interest rate by paying โ€œpointsโ€. In our quotes youโ€™ll see this labeled as โ€œTodayโ€™s price for this rate.โ€

You can check todayโ€™s rates for a quick estimate of third-party fees. Once you find a property and get pre-approved, we will provide you with an official Loan Estimate.

  • I'm shopping for a home

    I'm shopping for a home

  • Why are "loan estimates" so important?

    Why are "loan estimates" so important?

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ยฉ 2021 Better Holdco, Inc. and/or its affiliates. Better is a family of companies. Better Mortgage Corporation provides home loans; Better Real Estate, LLC provides real estate services; Better Cover, LLC provides homeowners insurance policies; and Better Settlement Services provides title insurance 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, 59th 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 is a licensed real estate brokerage and maintains its corporate headquarters at 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007. A full listing of Better Real Estate, LLCโ€™s license numbers may be found here. Equal Housing Opportunity. All rights reserved.

Better Settlement Services, LLC. 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007

Homeowners insurance policies are offered through Better Cover, LLC, a Pennsylvania Resident Producer Agency. License #881593. 3 World Trade Center, 175 Greenwich Street, 59th Floor, New York, NY 10007

Better Mortgage Corporation, Better Real Estate, LLC, Better Settlement Services, LLC and Better Cover, LLC are separate operating subsidiaries of Better Holdco, Inc. 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.

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