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Greenworld123 1.4M Views
Dec 8, 2019 2:27 PM

Amex offer: $2,500 statement credit for home refinance Better.com

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Must have an amex to add offer to your account. Details:

Unlock even more as an
American Express® Card Member with an exclusive mortgage offer from Better.com
Better.com is making the homebuying and refinance experiences more rewarding, with a $2,500 statement credit and more, exclusively for eligible Card Members. See offer terms below.

https://www.americanexpress.com/u...-OfferHub2

EDIT information from Better.com!!!!!!!!!!!!!!!!!!!!!!!!!
Hello,
I work with Better,com and wanted to see if you could please add in the following information to your post on Amex/Better,com deal as it reads incorrect as it stands, especially regarding eligibility. We want to make sure the offer is stated as accurately as possible:
1) Mortgage rates of any specific customer, stated or otherwise, should not be taken as indicative of a mortgage rate available to all customers. Pricing is based on a number of factors, including the individual credit profile of a potential borrower.
2) The offer is only available to those borrowers who have been marketed to directly by American Express, and those who have not received the offer on their Amex portal or via email are not eligible.
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Must have an amex to add offer to your account. Details:

Unlock even more as an
American Express® Card Member with an exclusive mortgage offer from Better.com
Better.com is making the homebuying and refinance experiences more rewarding, with a $2,500 statement credit and more, exclusively for eligible Card Members. See offer terms below.

https://www.americanexpress.com/u...-OfferHub2

EDIT information from Better.com!!!!!!!!!!!!!!!!!!!!!!!!!
Hello,
I work with Better,com and wanted to see if you could please add in the following information to your post on Amex/Better,com deal as it reads incorrect as it stands, especially regarding eligibility. We want to make sure the offer is stated as accurately as possible:
1) Mortgage rates of any specific customer, stated or otherwise, should not be taken as indicative of a mortgage rate available to all customers. Pricing is based on a number of factors, including the individual credit profile of a potential borrower.
2) The offer is only available to those borrowers who have been marketed to directly by American Express, and those who have not received the offer on their Amex portal or via email are not eligible.

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9.8K Comments

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Feb 5, 2020 5:41 PM
406 Comments
Joined Aug 2014
axcvFeb 5, 2020 5:41 PM
406 Comments
Quote from emp View quoted comment :
1 Hard Pull, 5 Hard Pulls, or 20 Hard Pulls should affect your score the same amount, effectively making pulls 2 - 20 "free" (in terms of your score). This is unlike a regular credit app where each pull counts as 1.

I believe auto loans have a similar window for rate shopping but I think that window is actually only 14 days and it must be an auto loan and not pulled as credit app like some shadier dealers might do.
understood but it may affect if we have to apply new credit card later?. as the no of hps's will be huge..ofcouse mortgage app is important than cr card
Feb 5, 2020 8:12 PM
76 Comments
Joined Oct 2008
NiteshadeFeb 5, 2020 8:12 PM
76 Comments
Quote from SiennaDeer8270 View quoted comment :
15 year refi is 2.75% now with cash call. Do you regret not waiting? This 2500 statement credit doesnt expire until 7/25. I feel like in this interest rate environment, its best to wait until the last minute to apply. Trump is pressuring the fed to lower the funds rate. Eventually they'll have to give in for our banking system to stay competitive.
I would check the assumptions on the 2.75%. It assumes a higher loan amount, a baked-in $995, and buying points.
Feb 5, 2020 8:15 PM
76 Comments
Joined Oct 2008
NiteshadeFeb 5, 2020 8:15 PM
76 Comments
Quote :
https://www.yelp.com/biz/better-n...tart=20​
From my experience with them the past week, i gotta say I'm starting to agree with the bad reviews.
Can't say I've had any problems with my refi. It's funding today and Better has been responsive to any concerns I have and we got to closing in 10 days.

For the folks struggling with the Price Guarantee, they guarantee they can beat by $1000 or they will pay you a check for $1000 - if you go with another lender. There is a limit to how low they will go. They were only able to beat my other lender (and I shopped for quite a few) by a few hundred dollars. So it was either take that, or forgo the AMEX $2500. They do not guarantee they will beat whatever offer you put in front of them by $1000 automatically.

Almost went with https://www.aimloan.com/ before I heard about the AMEX offer. Was a few days from closing. Good rates and good team.
Last edited by Niteshade February 5, 2020 at 12:20 PM.
Feb 5, 2020 9:06 PM
22 Comments
Joined Dec 2017
gofarhaveacigarFeb 5, 2020 9:06 PM
22 Comments
Not sure if others had this experience - but ever since I locked my rate, communication has slowed to a trickle. Yesterday my loan estimate was changed to a lower rate but more points and no lender credits. They also haven't contacted my preferred title company, even though I gave them the information about 5 days ago.

Not sure if I have a crappy loan officer assigned, or if others have had a similar experience.
Feb 5, 2020 9:15 PM
76 Comments
Joined Oct 2008
NiteshadeFeb 5, 2020 9:15 PM
76 Comments
Quote from gofarhaveacigar View quoted comment :
Not sure if others had this experience - but ever since I locked my rate, communication has slowed to a trickle. Yesterday my loan estimate was changed to a lower rate but more points and no lender credits. They also haven't contacted my preferred title company, even though I gave them the information about 5 days ago.

Not sure if I have a crappy loan officer assigned, or if others have had a similar experience.
Wasn't my experience, but find a competing offer and tell them you're considering it. They'll likely be very responsive after that. Smilie
Feb 5, 2020 10:07 PM
1.5K Comments
Joined Dec 2006
IAccord99IFeb 5, 2020 10:07 PM
1.5K Comments
Quote from Niteshade View quoted comment :
Wasn't my experience, but find a competing offer and tell them you're considering it. They'll likely be very responsive after that.
I would say it's YMMV depending on your loan processor. After I locked, I sent them a loan estimate and have been ghosted since. I've emailed 2 different people and haven't seen a reply from either. The only person still contacting me is the home insurance agent they gave my contact to, who is still trying to get me to switch my home insurance policy to theirs.
Quote from Niteshade View quoted comment :
They do not guarantee they will beat whatever offer you put in front of them by $1000 automatically.
Yes they do. It's literally on their web site:

https://better.com/faq/better-gua...-guarantee


What's the Better Price Guarantee?
We will beat a competitor's offer by at least $1000 or we'll pay you $1000.
If you think another lender has a more competitive price, send us their Loan Estimate within 3 business days from the date on the Loan Estimate.
Feb 5, 2020 10:10 PM
76 Comments
Joined Oct 2008
NiteshadeFeb 5, 2020 10:10 PM
76 Comments
Quote :
Yes they do. It's literally on their web site.
They can and will often opt to not beat it, and force you to go to another lender to earn the $1000. In order to earn the "we'll pay you $1000", you have to close with another lender and send them the final disclosures. Which means you forgo the $2500 AMEX offer.

Part of the fine print:
Quote :
To claim offer proceeds borrower must (1) fund their loan with lender that Better Mortgage could not beat by $1,000 in closing costs using the same LE presented to Better Mortgage to initiate this promotion; and (2) present closing disclosure and final note from funded loan within thirty (30) days of closing.
Last edited by Niteshade February 5, 2020 at 02:14 PM.

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Feb 5, 2020 10:21 PM
1.5K Comments
Joined Dec 2006
IAccord99IFeb 5, 2020 10:21 PM
1.5K Comments
Quote from Niteshade View quoted comment :
They can and will often opt to not beat it, and force you to go to another lender to earn the $1000. In order to earn the "we'll pay you $1000", you have to close with another lender and send them the final disclosures. Which means you forgo the $2500 AMEX offer.
Okay I see what you were trying to say in your original quote. We're both saying the same thing. My bad... I jumped the gun a bit.
Feb 5, 2020 10:45 PM
227 Comments
Joined Apr 2006
jazzman161Feb 5, 2020 10:45 PM
227 Comments
For those that are able to end up positive after closing costs, with lender credits, are you talking about A+B+C or the entire closing cost including prepaids for escrow etc?
Feb 5, 2020 11:00 PM
63 Comments
Joined Mar 2009
thilFeb 5, 2020 11:00 PM
63 Comments
I am currently having 300k loan in 3.75% for 30 year and looking for refinance .I have a solid offer from a known loan broker for 2.875% with no cost 15 yr refinance .I know this guy and done couple of business trans with him in the past and he is very responsive . I just saw this in SD and wondering whether i should reconsider . pls advice .
Last edited by thil February 5, 2020 at 04:39 PM.
Feb 6, 2020 12:16 AM
1.9K Comments
Joined Dec 2011
summi99Feb 6, 2020 12:16 AM
1.9K Comments
Quote from thil View quoted comment :
I am currently having 300k loan in 3.75% for 30 year and looking for refinance .I have a solid offer from a known loan broker for 2.875% with no cost 15% refinance .I know this guy and done couple of business trans with him in the past and he is very responsive . I just saw this in SD and wondering whether i should reconsider . pls advice .
Do u mean 15 year refi? 2.875% is great rate. R u sure there are no points ?
Feb 6, 2020 12:38 AM
63 Comments
Joined Mar 2009
thilFeb 6, 2020 12:38 AM
63 Comments
Quote from summi99 View quoted comment :
Do u mean 15 year refi? 2.875% is great rate. R u sure there are no points ?
yes. no points and broker is eating all the closing costs (appraisal ,orgination fee etc) .i checked the loan amount multiple times and these costs are not bundled in to the loan amount too.
its too good to be true but i dont want to be fooled .anything i am missing to check
Feb 6, 2020 3:06 AM
815 Comments
Joined Jul 2012
CrazyCoconutFeb 6, 2020 3:06 AM
815 Comments
Any other lenders similar to better.com where they don't do a hard inquiry (just a soft)?
Feb 6, 2020 3:07 AM
511 Comments
Joined Dec 2011
imsatFeb 6, 2020 3:07 AM
511 Comments
Quote from thil View quoted comment :
yes. no points and broker is eating all the closing costs (appraisal ,orgination fee etc) .i checked the loan amount multiple times and these costs are not bundled in to the loan amount too.
its too good to be true but i dont want to be fooled .anything i am missing to check
How about the title costs (Section C)? In Texas title costs are around $2000 for $300K loan. Are they eating title cost as well?

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Feb 6, 2020 3:16 AM
10 Comments
Joined Nov 2007
smakurFeb 6, 2020 3:16 AM
10 Comments
Quote from SiennaDeer8270 View quoted comment :
15 year refi is 2.75% now with cash call. Do you regret not waiting? This 2500 statement credit doesnt expire until 7/25. I feel like in this interest rate environment, its best to wait until the last minute to apply. Trump is pressuring the fed to lower the funds rate. Eventually they'll have to give in for our banking system to stay competitive.
There's no T&C limiting you not to do another re-fi on the same property. You might as well rinse and repeat.
Am I missing something?

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