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In a competitive housing market, timing is everything – you need to act quickly on opportunities. Closing on time is a must, especially when there are multiple offers.
Two key factors can make a big difference when it comes to a smooth and quick closing: having an exceptional real estate agent and working with a lender that takes the stress out of the process.
Many lenders will promise to act quickly when it comes to closing, but in a tough real estate market like the one we find ourselves in today, the ability to deliver on that promise is more important than ever. That’s why online lender Better Mortgage’s approach is so remarkable: Better’s promise comes with a $2,000 payout if your loan doesn’t close on time, thanks to the Better Mortgage Closing Guarantee .
“Better is great for people who lead busy lives,” says Tessa Sliwa, who recently secured a loan with Better Mortgage in Austin, Texas, a notoriously hot market.
What is the best mortgage closing guarantee?
The best mortgage closing guarantee means you’re more likely to close on time – after all, timing is everything when it comes to buying a home, especially in this market. If your loan is delayed or has issues that prevent you from closing on time, you’ll get $2,000 from Better Mortgage.
The Closing Guarantee is another example of how Better Mortgage is changing the mortgage game, along with things like waiving origination commissions and fees, offering on-demand rate locks, and providing estimates. instant loans, all entirely online. The streamlined app can pre-approve borrowers in minutes and is available in 47 states and Washington, D.C. Better Mortgage is a highly rated mortgage lender by NextAdvisor, which cited its unique borrower incentives and platforms as streamlined line.
Here’s how two recent buyers had the best mortgage closing guarantee when they got their home.
Convenience goes a long way
Tessa Sliwa and her fiancé Benjamin bought a house in Austin, Texas, which is a notoriously hot housing market where homes sell quickly.
Sliwa didn’t have time for in-person meetings and long phone calls, but wanted a mortgage with a low interest rate, quick closing time, easy-to-use technology, and support whenever she had it. need. She and Benjamin considered traditional and non-traditional options before personal recommendations led her to Better Mortgage.
Sliwa also liked the Best Price Guarantee, which matches a competitor’s offer and gets you $100 credit on your Better mortgage. If Better Mortgage can’t match the offer, the money is yours. Sliwa says Better Mortgage proactively offered the price guarantee when she first approached him.
But there was no haggling with her loan, and she liked the quick responses. Convenience, she says, is what really won her over.
The team members contacted her and explained that they would guide her through the process and meet her deadline. “The whole process has been described,” says Sliwa. “There was a checklist. This became very convenient when closing.
Friends of hers who were buying a house around the same time missed their closing date because the mortgage company was unsuccessful. But Sliwa closed on time.
In a hot market, that’s a huge relief. And with the best mortgage closing guarantee, knowing you’re getting something if your closing doesn’t happen on time gives you peace of mind. Not having to use the feature is even better, but knowing you’re getting something if your closing doesn’t happen on time provides some comfort.
Why would Sliwa recommend Better Mortgage? Three things, she says: fast communication, ease of the overall process, and they make you feel good that you’re going to meet your closing date.
Sliwa and Benjamin got engaged in their new home shortly after they closed. “This house will always hold a very special place in my heart,” says Sliwa.
Simplicity means everything
Fred Miller, a retired financial advisor and Air Force veteran, bought a home along the St. Clair River in his hometown of St. Clair, Michigan, during the pandemic. “[The house] perfectly matches my needs as it is a small house and not much to maintain. And the price was right because it’s the smallest in the neighborhood, which is pretty cool. I really like that.”
But the 79-year-old Michigan native was originally not so sure a traditional lender would give him a 30-year mortgage. That’s when he went to Better Mortgage.
Miller says he was able to follow the entire process online and was impressed with the ease of the experience. It started with pre-approval, “and then it was about getting the proper documentation back and forth.”
“Within 30 days, we closed the loan and bought the house. It’s incredible.”
Not only did Miller secure his mortgage through Better Mortgage with no upfront closing costs, but he also secured homeowners insurance through Better Coverage, a sister company to the Better family of brands.
“I had a mortgage in 30 days,” he said. “I couldn’t have done it without Better – that’s for sure.”
If his loan hadn’t closed on time, he could have been covered by the best mortgage closing guarantee, which says you’ll close on time or get $2,000. More information about the fence guarantee and its terms can be found on the Better Mortgage website.
Miller says buying the house brought him peace and reflection after the recent loss of his wife, which was the catalyst for him to downsize to a smaller home. He spends his evenings watching the boats go by on the river and contemplating his next chapter.
When you have found your dream home, it is imperative to act quickly with an offer.
“You want to choose [a lender] it will be able to explain things to you”, explains Sliwa, “but also be at the same pace as you.
Ultimately, she says, you want someone you can rely on. This, combined with customer service support, made her confident to get to the closing table prepared and on time.
Miller said closing so quickly gave him a lot of relief. “I got the house, and I came in and looked around and said, ‘My new house.’ Right where I wanted to be.
With the best mortgage closing guarantee, you can start shopping for a home – rest assured that a team of mortgage professionals are working hard to get you to the closing table on time.
(Better Mortgage Corp. NMLS #330511)