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Better Mortgage Corporation

New York, NY

Better Mortgage Corporation processed 18,219 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 5,450 loans with a 11.3% denial rate. Home Purchase was the primary loan purpose. Based in New York, NY. The approval rate of 29.9% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Better Mortgage Corporation's 29.9% origination rate tells you how often an application turned into funded money; the 11.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit application incomplete, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (15,859 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

18,219
Applications
5,450
Originated
11.3%
Denial Rate
$398,253
Avg Loan Amount
Avg Interest Rate: 6.655% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 15,859 4,999 1,472 $400,834
FHA 2,212 407 566 $377,866
VA 148 44 28 $426,351

Top loan types - Better Mortgage Corporation

Top loan types - Better Mortgage Corporation Horizontal bar chart of the top 3 items by value (applications). Top loan types - Better Mortgage Corporation Top 3 1. Conventional 15,859 2. FHA 2,212 3. VA 148 Top 5 loan types by application volume at Better Mortgage Corporation (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Better Mortgage Corporation (LEI: 549300XY701IELCE5Q08) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
784
Credit application incomplete
360
Credit history
279
Collateral
272
Other
236
Employment history
66
Insufficient cash
58
Unverifiable information
55

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 13,355 4,192 $425,845
Refinancing 1,690 451 $449,580
Cash-out Refinancing 1,635 317 $341,771
Other 1,539 490 $162,459

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 5,616 39.8% 12.8%
Asian 2,571 34.1% 9.2%
Black or African American 823 26.5% 23.6%
Joint 356 45.8% 10.7%
American Indian or Alaska Native 83 24.1% 21.7%
2 or more minority races * 36 25.0% 19.4%
Native Hawaiian or Other Pacific Islander * 28 17.9% 14.3%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 8,140 37.3% 12.3%
Hispanic or Latino 1,161 32.6% 16.6%
Joint 351 47.3% 10.8%

Nearby Lenders in NY

Other HMDA-reporting lenders in NY with similar activity. Compare any two side-by-side.

Citibank, NA

New York, NY

54,575 apps 14,104 originated 8.6% denied

M&T Bank

BUFFALO, NY

36,377 apps 20,743 originated 30.9% denied

Loan Funder LLC

New York, NY

23,955 apps 10,690 originated 11.6% denied

Bethpage Federal Credit Union

BETHPAGE, NY

21,186 apps 9,086 originated 44.3% denied

Morgan Stanley Private Bank NA

Purchase, NY

13,901 apps 10,709 originated 3.9% denied
Compare Better Mortgage Corporation vs Citibank, NA →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Better Mortgage Corporation process?
Better Mortgage Corporation processed 18,219 mortgage applications in the 2024 HMDA reporting year. Of these, 5,450 were originated (approved and funded), 4,066 were withdrawn by the applicant, and 2,066 were denied.
What is Better Mortgage Corporation's mortgage approval rate?
Better Mortgage Corporation has an approval (origination) rate of 29.9%, meaning 29.9% of all applications resulted in a funded mortgage. The denial rate is 11.3%.
What is the average loan amount at Better Mortgage Corporation?
The average mortgage loan amount at Better Mortgage Corporation is $398,253. The average interest rate is 6.655%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Better Mortgage Corporation?
The most common reasons for mortgage denial at Better Mortgage Corporation are: Debt-to-income ratio, Credit application incomplete, Credit history. In total, 2,066 applications were denied out of 18,219 total applications.
What types of mortgage loans does Better Mortgage Corporation offer?
Better Mortgage Corporation processes Conventional, FHA, VA loans. The most common type is Conventional with 15,859 applications and an average loan amount of $400,834.
What loan purposes does Better Mortgage Corporation serve?
Better Mortgage Corporation serves the following loan purposes: Home Purchase (13,355 applications), Refinancing (1,690 applications), Cash-out Refinancing (1,635 applications), Other (1,539 applications). Home Purchase is the most common purpose.
Where is Better Mortgage Corporation located?
Better Mortgage Corporation is headquartered in New York, NY. The lender is identified by LEI 549300XY701IELCE5Q08 in HMDA data.
How does Better Mortgage Corporation compare in lending across racial demographics?
Better Mortgage Corporation reports demographic lending data under HMDA requirements. White applicants have an approval rate of 39.8% and denial rate of 12.8%; Asian applicants have an approval rate of 34.1% and denial rate of 9.2%; Black or African American applicants have an approval rate of 26.5% and denial rate of 23.6%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.