NEW YORK--(BUSINESS WIRE)--Better.com, one of the fastest-growing homeownership companies in the country, was today awarded NerdWallet’s 2020 Best-of Award winner within the Best Mortgage Lender for Refinance category.
The award was a part of NerdWallet’s annual “Best-of Awards” that recognizes the top financial organizations in the country. NerdWallet selects award winners through a rigorous evaluation process involving a meticulously designed grading rubric, assigning points for various product features and attributes. For each financial product, NerdWallet assesses the features that they believe to be most important to consumers. The end result is an unbiased list of the year’s best products.
This prestigious award follows several accolades Better.com received from NerdWallet in 2019, including “11 Best Online Mortgage Lenders of November 2019" and “7 Best Mortgage Lenders for Immigrant Borrowers in 2019.”
“While owning a home has long been the cornerstone of the American dream, it’s head-scratching that in today’s on-demand Amazon and Venmo digital world, the mortgage industry has remained painfully analog and plagued with inefficiencies,” said Vishal Garg, CEO and Founder of Better.com. “Even in 2020, nearly 60% of loan files have between 500-2,000 pages of paperwork, in addition to trip after trip to brick and mortar banks, an opaque pricing structure that many homebuyers don’t understand, hidden costs, and jargon. Better.com offers a best-in-class product that doesn’t just digitize the process, but also eliminates the commission, saving our borrowers an average of $3,500 in fees.” Garg continued, “This award is not only deeply humbling, but also incredibly motivating for us as we continue to improve our technology and perfect our customer service in 2020.”
Founded in 2016, Better.com’s mortgage lending arm has grown 3.5x year over year and is currently funding $700 million a month in mortgages. Over the last year, Better.com also launched homeowners insurance, title insurance and a network of real estate agents. In 2019, Better.com hired 1000 employees, relocated its headquarters to 3 World Trade Center in lower Manhattan and opened three new offices in Charlotte, Costa Mesa and Oakland to accommodate its rapid growth. Better.com is also in the process of opening offices in Las Vegas, Kansas City and Honolulu.
“We’re excited to honor Better.com as NerdWallet’s 2020 Best-of Award winner within the Best Mortgage Lender for Refinance category,” said Rob Cross, General Manager, Mortgages at NerdWallet. “Better.com has proven to help consumers with their home financing needs with its customized rates offering for all their loan products and a fully digital refinance process, without charging origination fees.”
About Better.com: Better.com is one of the fastest growing homeownership companies in the country, having grown its mortgage business 3.5x year-over-year and funding over $700 million in mortgages a month. The fintech disruptor dismantled the home-financing ecosystem, replacing it with a digitized process that eliminates commissions, fees, unnecessary steps, and time-wasting appointments. In 2019, Better.com also launched homeowners insurance, title insurance and a network of real estate agents. Better.com has raised over $250M in equity capital and is backed by Kleiner Perkins, Goldman Sachs, American Express Ventures, Ally Financial, Citi and other investors.
About NerdWallet: NerdWallet is on a mission to provide clarity for all of life's financial decisions. As a personal finance website and app, NerdWallet provides consumers with personalized, unbiased and actionable insights so they can make smart money moves. From finding the best credit card to buying a house to investing their next dollar, and more, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven membership experience, which helps them stay on top of their finances and save them time and money, giving them the freedom to do more. For more information, visit NerdWallet.com.