NEW YORK--(BUSINESS WIRE)--Better Mortgage, a digital mortgage company working to improve access to home financing through transparency, honest guidance and zero commissions, today announced that it is expanding to service homebuyers in Michigan, bringing the total count of states the company originates loans to 16. This expansion supports the company’s rapid adoption among first-time homebuyers in increasingly hot housing markets. Metro areas like Detroit, Lansing, and Grand Rapids offer the winning combination of growing employment opportunities with starter home inventory that remains affordable.
“Homebuyers in Michigan now have access to a more transparent, affordable and tech-enabled mortgage offering that will save them money and time. Better’s continued growth and profitability enable us to expand our operations to hubs like Michigan, providing homebuyers with even more resources to pursue the American dream of homeownership,” said Eric Wilson, Head of Operations.
Nationwide, homebuyers need better mortgage alternatives as mortgage rates rise and housing markets remain competitive. Better is focused on expanding its national footprint to bring more affordability to borrowers in markets around the country, all backed by the Better Price Guarantee.
“I’m excited to be launching in Michigan because this means the deserving residents of this state now have a better chance of getting a fair mortgage,” said Vishal Garg, CEO. “And that’s our goal -- to provide solutions like our Verified Pre-Approval Letter or Better Offer that empower homebuyers by giving them a competitive edge in high demand markets.”
Michigan is a state in which the overall rate of homeownership can significantly increase, with numerous metro areas with large percentages of renters who can afford to buy. In Detroit, 47 percent of renters can afford to buy; 60 percent in Lansing, 52 percent in Flint, and 33 percent in Ann Arbor. Now with Better offered in the state, Michigan residents may be better able to go from renting to owning.
Better currently originates loans in 16 states including Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, North Carolina, New Jersey, Oregon, Pennsylvania, Tennessee, Texas, and Washington.
About Better Mortgage:
Launched in 2016, Better.com is a full stack mortgage lender digitizing every step of the home financing process to make homeownership more affordable and accessible. Backed by Kleiner Perkins, Goldman Sachs, and Pinebrook, Better is focused on customer advocacy, putting consumers back in control of the most important financial decision of their lives. Recently named Best Mortgage Lender for Customer Service by Nerdwallet, Better has an intuitive online platform, complemented by non-commissioned staff that guide customers through the process, starting with how much house they can afford or how much they can save through to close, completely jargon-free with airtight certainty and the best rate possible. For more information, follow us on Facebook, Twitter and LinkedIn.