Lender review
Better Mortgage review: what Michigan borrowers should know
An online-only lender with non-commissioned loan officers, Better emphasizes low fees, a price-match guarantee, and a One Day Mortgage decision. A good fit for straightforward Michigan purchases where you want speed and no sales pressure.
Best for: a fully-online, commission-free experience
Best fit: salaried W-2 buyers with clean, simple files
- Headquarters
- New York, NY
- Founded
- 2016
- NMLS
- #330511
- Min. credit score
- 620
- Min. down payment
- 3%
- MSHDA MI Home Loan
- Approved lender
What works
- No loan-officer commissions and low lender fees
- Fully online with fast, same-day decisions
- Price-match guarantee on competing offers
What to watch
- Online-only — no in-person hand-holding
- Limited government-loan options (no USDA/VA)
- Not ideal for complex or thin-file borrowers
The full picture on Better Mortgage
Better Mortgage arrived in 2016 with a pointed idea: strip commissions out of the equation. Its loan officers aren't paid on commission, which removes the sales pressure baked into much of the industry, and the whole process lives online.
Speed and no sales pressure
The company leans hard on low fees, a price-match guarantee against competing offers, and a One Day Mortgage decision for well-organized files.
A poor match when it's complicated
There's no in-person guidance for a nervous first-timer, and the government-loan lineup is thin, with no USDA or VA on offer.
Thin-file or unusual borrowers won't find the manual attention they need; Better is built for the easy cases and doesn't pretend otherwise.
Loan programs at Better Mortgage
Which core Michigan loan types Better Mortgage offers, with the typical minimum down payment for each program. Program floors are industry standards — Better Mortgage's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | — No | — |
| USDA | — No | — |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Also offers: HELOC, Refinance.
Where Better Mortgage's credit bar sits
Better Mortgage's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| Better Mortgage | Michigan median* | |
|---|---|---|
| Editorial score | 3.9 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 5 | 5 |
| Michigan-headquartered | No | — |
*Median across the 55 Michigan lenders in our catalog.
Compare: PennyMac Mercantile Bank of Michigan Northpointe Bank This week's Michigan rates
Better Mortgage: frequently asked questions
What credit score do you need for a Better Mortgage mortgage?
Better Mortgage generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
Will Better Mortgage sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask Better Mortgage directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — Better Mortgage did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#330511). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.