Housing experts point to inflation and changing Federal Reserve policy as sure signs that mortgage rates will climb higher in 2022. With rates already beginning to rise, the chance to potentially lower your monthly payment by hundreds of dollars may soon come to an end.
Good news is, mortgage rates are still near all-time lows despite recent increases (see far right of graph below!). But the writing is on the wall: experts forecast rates will increase significantly over the next few years.
That’s why I want to tell you what I’ve told my friends and family: check your rates now to see how much refinancing could save before it’s too late.
But you also need to make sure you’re using a top lender.
Click here to check your rates with the lender that we awarded 2022’s Best Mortgage Lender for Refinancing: Better Mortgage. Pre-approval takes as little as 3 minutes and has zero impact on your credit score.
Better’s competitive rates and lack of origination fees helps homeowners cut their costs when refinancing. Combine that with a top-notch online experience and fast approval times, you’ll be hard-pressed to find a better all-around lender (no pun intended).
In fact, I’ve personally refinanced my home twice, and both times I used Better. And both times they got me incredibly low rates. I calculate that they will save me $52,354.80 over the lifetime of my mortgage — with no origination fees to boot!
Click here to see how much you could save with Better Mortgage
2026 Award Winner
Best for: No lender fees and online application
Better
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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= Good
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= Fair
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= PoorBottom Line
Better has the right combination of features and perks, including no hidden fees, low mortgage rates, and a fast 100% online application process. Better Mortgage does not charge lender fees such as those for application, processing, and underwriting. You can save up to $2,000 in closing costs if you use a real estate agent referred to you by Better Real Estate and use Better Mortgage Corp. as your lender. The lender also offers $150 off closing costs when applying through Motley Fool Money site.
Min. Credit Score
- 580
Min. Down Payment
- 0-10.01%
Key Features
- One Day Mortgage. Lock a rate, get a Commitment Letter in 24 hrs. Terms apply.
- Close 14 days faster than industry average
- Apply 100% online, entirely on your schedule
- $100 billion in online home loans
- Discount of up to $2,000 in closing costs if you use a real estate agent referred to you by Better Real Estate and use Better Mortgage Corp. as your lender.
Loan Types
- Conventional
- FHA
- VA
- Jumbo
Fixed Rate Terms
- 10y, 15y, 20y, 30y
Adjustable Rate Terms
- 10/6, 7/6, 5/6
$150 DISCOUNT FOR READERS OF MOTLEY FOOL MONEY
We worked with Better Mortgage to secure a $150 discount on closing costs for readers of Motley Fool Money (aka, you!). Click here to claim your discount and see your rates.
Top Perks from Better Mortgage
Low rates and price guarantee
Better mortgage already consistently beats many mortgage lenders' rates, but its price guarantee ensures the lender will beat competitors. Better will match a competitor's offer and attempt to beat it by $100. If the lender can't, the $100 is yours to keep.
No origination fees
Many mortgage lenders charge for the privilege of getting a loan. Better charges no origination fee, helping you save on your overall closing costs, which can range anywhere from 0.5% to as high as 2% depending on the lender.
Quick loan estimates and pre-approval
After you submit all the required information, you can get a rate quote from Better Mortgage in as little as three seconds and a pre-approval in around three minutes, helping you shop around for lenders quickly.
Lock in your interest rate on demand
Applicants can lock in their interest rate whenever they want during the loan process. Better will hold the mortgage rate for you so you can complete your application with the knowledge that it won't change by the time you close on your home.
100% online application process
It's clear why Better is one of our top-rated online mortgage lenders: Most of the closing process is done completely online (with the exception of signing the final documents). Simply fill out the online application form and submit any necessary documents using the lender's secure system.
Access to a dedicated loan officer
Once you complete the pre-approval process, you'll be assigned a loan officer and will receive contact details. You can contact this person during office hours throughout your loan application process.
$150 off closing costs
Apply through Motley Fool Money site and receive a $150 discount on closing costs. This special perk can help you keep more money in your pocket and reduce the cost of already low fees that the lender offers.
States where Better does not operate
Better is not available for borrowers in Hawaii, Nevada, and New Hampshire. If you live in these states and want to consider refinancing, check out our list of top mortgage lenders for refinancing.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Terms may apply to offers listed on this page.
Motley Fool Stock Disclosures
Nathan Hamilton has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.