The fine print

Here’s how we calculate the numbers and other details you may see in our communication.    

Better Mortgage saves purchase customers $8,200 on average over the life of a loan. (2020-2021)

Disclaimer: The average lifetime savings estimate is based on a comparison of the Freddie Mac Primary Mortgage Market Survey’s (PMMS) 30-year fixed-rate mortgage product with Better Mortgage’s own offered rate for a comparable mortgage product between Jan ‘20 - Dec ‘20. PMMS is based on conventional, conforming fully-amortizing home purchase loans for borrowers with a loan-to-value of 80 percent and with excellent credit. Better Mortgage’s offered rate is based on pricing output for a 30-year fixed-rate mortgage product with a 30-day lock period for a single-family, owner-occupied residential property and a borrower with excellent (760 FICO) credit and a loan-to-value ratio of 80 percent. Individual savings could vary based on current market rates, property type, loan amount, loan-to-value, credit score, debt-to-income ratio and other variables.

   

Better Mortgage saves refinance customers $8,200 a year on average in loan payments.(2020-2021)

Disclaimer: The average yearly payment savings estimate is based on a comparison of our borrowers’ principal and interest payments on their prior mortgage and the principal and interest payments on their new loan from Better Mortgage. The yearly payment savings is an average of the difference between those two monthly payments across all refinance customers between Jan’20 and Dec’20, multiplied by 12 (savings are incurred each month in a year). Individual savings could vary based on current market rates, property type, loan amount, loan-to-value, credit score, debt-to-income ratio and other variables.