Review: Faster Approval for Comparable Rates

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At, borrowers can access a transparent mortgage process with competitive rates and faster approval. However, doesn't offer VA or USDA loans and isn't available in every state.

Good for

  • No origination fees
  • Faster loan process
  • 24/7 online-only system lets you manage application at your convenience

Bad for

  • No HELOCs, VA loans or USDA loans
  • Covers 30 states and D.C.
  • No brick-and-mortar service locations

Editor's Rating


See Mortgage Rate Quotes for Your Home

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By clicking "See Rates" you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness you may be matched with up to five different lenders. offers a fast, simple online loan experience for borrowers by changing the old mortgage infrastructure and replacing it with user-friendly technology. The online experience is easy, the lending process is transparent and the rate offers are similar to those at traditional lenders. Review: Faster Approval for Comparable Rates provides borrowers with a quicker, more simplified mortgage process using an online origination platform while offering competitive rates. The website allows borrowers to access and complete their mortgage paperwork without having to leave their homes. Unlike many online mortgage lenders, offers six loan types to fund conventional and jumbo loans for both home purchases and refinances. In order to qualify, you'll need a minimum credit score of 620 and your pay stubs, tax returns and bank statements. will ask for your stated income and will do a soft credit pull, completing the pre-approval process in just three minutes. In contrast, this process could take days with a traditional lender. If you're pre-approved, you'll see a menu of loan products you may qualify for along with an estimate of your monthly payment and annual percentage rate (APR). Where other lenders would require you to schedule a call with their loan officers,'s online interface lets you manage your application anytime. does have mortgage experts available for human support in case you need extra help.

After processing your loan and securing funding, then transfers your loan to a permanent servicer that handles the loan for the remaining term length. This may lead to issues for you as a consumer, as your experience after the initial loan process will depend on those servicers. In addition, is only available in 30 states and the District of Columbia for now. However, we've seen expand its coverage continuously over the past year.

How Do's Mortgages Compare?'s online mortgage process provides users with a more convenient experience and enables the company to offer rates similar to those at large traditional lenders such as Chase or Bank of America. We compared three popular traditional banks to using rates based on a 30-year fixed-rate mortgage. In addition to not charging origination fees, has slightly lower rates and its monthly payments are similar to that of Bank of America and Chase.

30-Year Fixed-Rate Mortgage Estimates

Better.comBank of AmericaChaseWells Fargo
Interest Rate4.00%4.00%4.00%4.25%
Monthly P+I$764$764$764$787

Estimates for a $200,000 home purchase with 20% down payment and credit score of 740.'s rates are comparable but slightly more affordable than traditional lenders due to the lower APR. Over time, these costs add up, and with the addition of points and the absence of an origination fee, borrowers are able to save more by using Wells Fargo was the only lender that provided a rate with zero points, resulting in a higher interest rate but lower closing costs. Although offers lower rates compared to Bank of America and Chase, the difference is not significant.

30-Year Fixed-Rate Mortgage Refinance Estimates

Better.comBank of AmericaChaseWells Fargo
Interest Rate4.00%4.00%4.00%4.38%
Monthly P+I$716$716$716$749

Estimates for a $200,000 home value with a $150,000 mortgage balance and credit score of 740.

In terms of refinancing, has a lower rate than all three banks, based on a $150,000 mortgage balance. offers a much lower APR than Wells Fargo, with the addition of a small percentage of points. The same mortgage products that are available for home purchase are also used for refinancing a home. Based on these rates, would be the better option to refinance your mortgage. Customer Service and Loan Servicing

Customer service at is delivered through a well-balanced mix of digital convenience and in-person support. Instead of paper documents and phone conversations that prolong the process,'s digital mortgage platform converts the loan application into a quick, self-driven experience where you type details into intuitive online forms. Once you consent to a soft credit pull,'s platform is also able to prefill certain information, such as the details of any existing loans you have.'s emphasis on automation and technology is supported by a unique approach to the human side of service.'s mortgage experts aren't motivated by traditional commissions: instead, they earn bonuses by receiving high satisfaction ratings from users. In theory, this means that's mortgage experts will care more about answering your questions than about closing the deal as fast as possible. In another break with industry practice, will never cold call you if you stop filling out your online forms—although its mortgage experts may reach out by email.

Mortgage-Related Complaints at Major Banks, 2013-2018

CompanyMortgage OriginationsCFPB ComplaintsRatio of Complaints2017 JD Power Rating
Wells Fargo2,583,13133,8621.31%745
Bank of America1,438,77041,8672.91%767 launched just a few years ago, which means there isn't much data about the company in the Consumer Financial Protection Bureau's public complaint database. What little we found indicates that so far, has stayed ahead of the curve. While major consumer banks experienced complaint rates between 1.3% to almost 3.0%, CFPB complaints about are nearly nonexistent. This situation will undoubtedly change as more time passes, but for now,'s novel approach to customer service seems to be keeping problems at an extreme minimum.

Even though is a direct lender, they transfer your loan to a servicing company about 30 days after your loan closes. deals with processing your application, underwriting, closing and funding your loan. As soon as that is completed, your loan is transferred and the quality of your experience after the initial loan process will depend on those partners. This can lead to issues for you as a consumer, as your permanent servicer might not provide the same kind of guidance offered by However, according to's FAQ page, the company will contact the permanent servicer on your behalf if problems arise.

Available Loan Types at offers purchase loans and refinancing for both conventional and jumbo loan amounts. The company also has a variety of fixed- and adjustable-rate loan options to choose from. Below are the best rates offered by for the numbers we provided, which include the lowest amount of discount points.

Mortgage ProductInterest RateAPRPoints
30-year FRM4.00%4.03%0.27
20-year FRM3.88%3.92%0.33
15-year FRM3.50%3.54%0.24
10/1 ARM4.13%4.17%0.01
7/1 ARM4.00%4.14%0.07
5/1 ARM4.00%4.19%0.24's initial display of rates allows you to tailor the quote to your needs by adjusting the points and credits for each loan type. Taking credits results in higher interest rates, although's rates are still competitive in relation to traditional lenders. In contrast, paying points reduces your interest rate but leads to a higher upfront cost.

These mortgage products are offered for a full range of properties including single-family homes, town houses and condominiums, whether used as a primary residence or investment property. Currently, does not offer VA, USDA or construction loans. has begun offering FHA loans, which increase its potential as a lender option for lower down payments.

Where Can You Get a Mortgage With

Since its start in California, has expanded into 36 states throughout the country and the District of Columbia. These states represent more than half the national market in home loans. The company continues to work on extending its services to more states.

States Where Operates

  • Alaska
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District Of Columbia
  • Florida
  • Georgia
  • Illinois
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Jersey
  • New Mexico
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Comments and Questions

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