Armed with a degree in finance, Tyler Varnell was dutifully building his career.
At 27, he jumped out of the corporate world to pursue his dream: performing music.
Hes spent the past two years playing saxophone and piano for weddings and events around the Los Angeles area.
Tyler Varnell, 29, looks out the window into his new backyard from one of the four bedrooms, imagining what it will someday be. Melissa Lyttle for The Penny Hoarder
And hes making it work.
Then Courtney whos a registered nurse found a $656,000 house for sale.
Tylers reaction was, Oh my gosh; theres no way we can afford this.
Were gonna go broke.
After lots of soul-searching and number-crunching, they ended up getting the loan they needed.
And after entering talks with three different lenders, they went withBetter Mortgage.
No Interest Til Almost 2027?
With me being self-employed, underwriting my income was going to be tricky, Tyler says.
Better did a great job helping us navigate the process and getting us approved, despite my unconventional finances.
Better Mortgagebills itself as an online mortgage lender thats built like a tech company fast and innovative.
His mission: Make the process faster, simpler and more transparent.
It was Courtney who found the house while looking for deals on Zillow.
A fixer-upper in Huntington Beach.
Priced in the mid-$600s.
I know its really expensive, Tyler recalls Courtney saying.
But this is a good deal for a single-family home in a good neighborhood.
It needs some work.
This is probably the best price were going to get.
Tyler says after he finished freaking out, he sat down and ran the numbers.
He wound up being swayed by the financial benefits of home ownership.
An Online Process With Human Help
Like any tech company, Better Mortgage emphasizes speed and efficiency.
It can get you an initialpre-approval for a loan within minutes, without affecting your credit score.
Better was quick to respond to our inquiries, both via email and telephone, says Courtney.
Their representatives were knowledgeable and made the process relaxed and unpressured.
That came in handy for Tyler, the self-employed musician.
Its easier for someone with a 9-to-5 office job to prove what their salary is.
Tyler had to be able to show he had a steady income.
The couple had been in talks with two other lenders that couldnt match Betters terms.
The other two places had lender fees ranging from $400 to $1,500, and Betters was zero.
Then Better offered us $2,500 off of our closing costs.
Better Mortgage requires a minimum credit score of 620 and a minimum down payment of 3%.
It feels so good to finally own a home!
Tylers sure itll be worth it especially in the bedroom thats destined to become his music studio.
Sometimes, I would take over half of our living room or half of our bedroom, he says.
Now, Im really excited to have a dedicated space for my work.
And I think thatll help with my business overall.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
He believes in the American Dream.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
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