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We analyzed every closed loan from Better Mortgage — 4.2k loans across 12k applications— and benchmarked them against peer lenders across the 4 Ps of Mortgage Shopping.
Pricing
Exceptional
vs. all lenders
Pull Through
Acceptable
closing strength
Products
Strong
FHA · Conventional · VA · Jumbo
Place
Sound
National · 49 mkts
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Safe Rate's Summary
What They Do Well
- Competitive pricing compared to the market
- Lower than average lender fees
- Particularly strong in Conventional and FHA and Jumbo loans
- Nationwide availability with consistent service
Things to Think About
- Pull through efficiency is below industry average
Explore another lender or local market
Report Card
Better Mortgage Corporation performance at a glance
| Category | Score | vs. Peers |
|---|---|---|
Overall Performance· Pricing & closing strength | ||
Pricing Rate competitiveness | Market Leader +0.2 bps above market avg | |
Pull Through Closing strength | Near industry average Bottom 40% of lenders | |
By Loan Product· Specialization by type | ||
Conventional | Highly Competitive Top 40% of lenders | |
FHA | Highly Competitive Top 40% of lenders | |
VA | Industry Standard Top 60% of lenders | |
Jumbo | Highly Competitive Top 40% of lenders | |
By Loan Purpose· Transaction purpose mix | ||
Purchase | Highly Competitive Top 40% of lenders | |
Refinance | Highly Competitive Top 40% of lenders | |
By Location· Geographic coverage | ||
Geographic Reach Coverage footprint | Industry Standard Top 60% of lenders National50 markets | |
Loan Product Performance
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | 3,694 | 87.4% | -0.009%Below | $608Fees | ||||
FHA Loans | 392 | 9.3% | +0.110%Above | $545Fees | ||||
VA Loans | 44 | 1.0% | -0.661%Below | $403Credit | ||||
Jumbo Loans | 97 | 2.3% | +0.196%Above | $498Fees |
Loan Purpose Performance
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | 3,582 | 84.7% | -0.006%Below | $719Fees | ||||
Refinance | 645 | 15.3% | +0.046%Above | $141Credit |
At a Glance
Lender Overview
Lending Activity
Loans Originated
4,227
Applications
12,373
Volume
$1 billion
Pricing & Closing
Avg Rate Spread
+0.002%
vs. market APOR
Avg Net Fees
$592
Origination − Credits
Pullthrough Rate
34.2%
Applications → Closed
Typical Borrower
Avg Loan Amount
$444,446
Avg Borrower Income
$184,396
Avg Property Value
$594,054
Geographic Coverage
Geographic Performance
Metro Areas
49
States Served
51
Why 51? We count DC as a state
Avg Place Specialization
States with Loan Originations
AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPARISCSDTNTXUTVAVTWAWIWVWY
Top Metro Areas by Place Specialization Score
1
Dallas, TXMSA
Volume: 135Mix: 3.19%of portfolio
Place
Strong2
Houston, TXMSA
Volume: 143Mix: 3.38%of portfolio
Place
Strong3
New York, NY-NJMSA
Volume: 117Mix: 2.77%of portfolio
Place
Strong4
Atlanta, GAMSA
Volume: 118Mix: 2.79%of portfolio
Place
Strong5
Charlotte, NC-SCMSA
Volume: 88Mix: 2.08%of portfolio
Place
Strong6
Chicago, ILMSA
Volume: 104Mix: 2.46%of portfolio
Place
Strong7
Austin, TXMSA
Volume: 65Mix: 1.54%of portfolio
Place
Strong8
Seattle, WAMSA
Volume: 64Mix: 1.51%of portfolio
Place
Strong9
Orlando, FLMSA
Volume: 67Mix: 1.59%of portfolio
Place
Sound10
Raleigh, NCMSA
Volume: 55Mix: 1.30%of portfolio
Place
SoundShowing 10 of 49 metro areas
Top States by Place Specialization Score
1
TXState
Volume: 467Mix: 11.05%of portfolio
Place
Strong2
NJState
Volume: 176Mix: 4.16%of portfolio
Place
Strong3
FLState
Volume: 393Mix: 9.30%of portfolio
Place
Strong4
GAState
Volume: 210Mix: 4.97%of portfolio
Place
Strong5
CAState
Volume: 341Mix: 8.07%of portfolio
Place
Strong6
NCState
Volume: 230Mix: 5.44%of portfolio
Place
Strong7
WAState
Volume: 138Mix: 3.26%of portfolio
Place
Strong8
PAState
Volume: 165Mix: 3.90%of portfolio
Place
Strong9
ILState
Volume: 159Mix: 3.76%of portfolio
Place
Strong10
NYState
Volume: 149Mix: 3.52%of portfolio
Place
StrongShowing 10 of 46 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.
No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.
HMDA 2024Built using publicly available originated loan data from the federal government.
Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.