Better Appraisal Guarantee Terms and Conditions
No matter what happens with your appraisal, we’ll honor the Annual Percentage Rate, Cash to Close, and Total Monthly Payment reflected on your valid locked Loan Estimate received immediately before the appraisal is received.*
To be eligible for the Appraisal Guarantee (“Guarantee”), you must complete the following steps with Better Mortgage Corporation (“Better Mortgage”) and Better Real Estate LLC (“BRE”):
- Complete a mortgage application for a conforming purchase loan for an amount less than $970,800, with a down payment of at least 6% of the offer price, for a primary residence with Better Mortgage (the “Application”);
- Enter an offer on this property using a Better Real Estate Agent or with a matched Better Real Estate Partner Agent¹ (Better Real Estate Agent or matched Better Real Estate Partner Agent must be Buyer’s agent for this transaction);
- Lock your rate on the Application prior to appraisal completion; and
- Qualify for and successfully close a mortgage loan pursuant to the Application with Better Mortgage.
You are ineligible for the Appraisal Guarantee if your Better Mortgage loan: (i) was denied for reasons unrelated to the property appraisal; or (ii) was withdrawn before the closing date listed on your purchase contract.
Guarantee is only available for loans applied to arms-length transactions. Guarantee is only available for users applying for purchase loans on properties located in the states in which Better Mortgage originates loans. Guarantee is subject to all applicable state laws.
Customers who lock their rate or complete a Better Mortgage Corporation verified pre-approval letter after May 16, 2022 are ineligible for the program.
BETTER MORTGAGE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS, GUARANTEES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. Terms are subject to change at any time without notice and are subject to state restrictions.
¹Better Real Estate employs real estate agents (“Better Real Estate Agents”) and also maintains a nationwide network of partner brokerages and real estate agents (“Better Real Estate Partner Agents”). Better Real Estate Partner Agents work with Better Real Estate to provide high quality service outside the service area covered by Better Real Estate Agents or when Better Real Estate Agents experience excessive demand.
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, LLC’s license numbers may be found here. Equal Housing Opportunity. All rights reserved.