Consumer complaint received 2025-12-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: Better Mortgage, Inc.
State: CA

Complaint narrative:
I applied for a refinance through Better.com + XXXX, I was told in writing that this refinance made sense because I was well qualified, and because I spent days ensuring the numbers were correct for my XXXX. I was assured that I would save. 

I was told I had NO OPTION but to lock my mortgage by XXXX ( XXXX ) XXXX, and that his automated underwriting system already approved me and that financing would not be an issue. He also assured me I would save an estimated $ XXXX principal and interest savings. I asked him to put this in writing, which he did and emailed me. 

I have several exchanges with XXXX from XX/XX/XXXX - XX/XX/XXXX, despite pressure, I refused to lock in my rate until he could assure me the numbers for the numerator and denominator in my DTI calculation score. I urged him NOT to take my income for granted at my word, but to work first with underwriting to ensure my tax returns, rental income stock and XXXX situation checked out with underwriting. 

My loan estimate was revised IMMEDIATELY after locking my rate ( APR XXXX jumped to 6.813 % and most of this was a deceptive jump to $ XXXX in monthly mortgage insurance, my current mortgage insurance is $ XXXX only ). 

I asked XXXX if I could contact him if I ran into any issues, however, since pressing the " lock '' button, XXXX was unreachable despite several emails, text messages and over XXXX attempts to call back at regular office hours. 

These were XXXX 's written words and promise to me : Loan Summary Estimated Home Value : {$520000.00} XXXX : 93 % Purpose : XXXX Refinance ( not cash-out ) Current Rate on Existing Mortgage : 6.99 % Proposed Note Rate : 5.99 % Borrower Qualifications Credit : Representative XXXX XXXX XXXX ; no housing late payments in last 12 months ; no bankruptcy or major derogatory credit. 
Assets : {$100000.00} in self-reported liquid assets ( well above the {$58.00} required to close ) ; 25 months reserves available. 
XXXX : 49.96 % ( within XXXX XXXX, XXXX allowed 50 % ) ; receives XXXX XXXX. 
Employment/Income : Self-stated monthly income of {$11000.00} ( all XXXX income ; no co-borrower ). 
Housing and Payment History : Current on all mortgage and consumer obligations. 
XXXX XXXX : Owns XXXX investment property ( well-managed, no delinquencies ). 
Initial Underwriting : File is Approved per Betters initial underwrite as of XX/XX/XXXX. 

Key Benefits of Locking In Now Rate Environment : Proposed lock rate of 5.99 % is a full 1 % below the borrowers current rate ( 6.99 % ), offering an estimated $ XXXX principal and interest savings. 
XXXX is XXXX XXXX : At high DTI, XXXX now ensures borrower remains eligible even if rates rise. 
Strong Credit and Assets : No red flags in credit or cash to close ; all eligibility checks met for the current product and investor ( XXXX ). 
No Indications of Better Pricing Downward : Current market conditions support locking when rates meet or beat current savings targets. If rates rise, approval and pricing could worsen for high-DTI files XXXX 
XXXX for XXXX : All initial requirements to lock a rate appear satisfied. Locking preserves attractive terms while the loan remains fully eligible. 
Summary Recommendation : Borrower is exceptionally well-qualified, with strong credit, high reserves, and reliable income. He benefits from meaningful monthly payment reduction through this refinance. Given the high XXXX and current favorable rate, this is an opportune time to lock ; this will safeguard savings and confirm XXXX eligibility before any potential adverse market shift.

Company response to consumer: Closed with explanation