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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.
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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 6, 2020 8:09 PM
76 Comments
Joined Oct 2008
NiteshadeFeb 6, 2020 8:09 PM
76 Comments
Quote from SiennaDeer8270 View quoted comment :
Did you reset your term to 30 years? Dont you want to pay off your loan before you die?
You can make additional principal payments and pay it off sooner, all while enjoying a lower interest rate, you know.
Feb 6, 2020 9:02 PM
1.4K Comments
Joined Jan 2020
SiennaDeer8270Feb 6, 2020 9:02 PM
1.4K Comments
Quote from Niteshade View quoted comment :
You can make additional principal payments and pay it off sooner, all while enjoying a lower interest rate, you know.
But extending the life also resets your amortization schedule and you'll be paying primarily interest again instead of the payment going towards principal.
Feb 6, 2020 9:11 PM
815 Comments
Joined Jul 2012
CrazyCoconutFeb 6, 2020 9:11 PM
815 Comments
Does anyone know what documents they are requesting? Do they want driver license, etc?
Feb 6, 2020 11:48 PM
292 Comments
Joined Feb 2010
empFeb 6, 2020 11:48 PM
292 Comments
Quote from SiennaDeer8270 View quoted comment :
But extending the life also resets your amortization schedule and you'll be paying primarily interest again instead of the payment going towards principal.
But the extra principal payments go towards the principal so what's the issue? Lower interest rates + additional principal payments equaling your precious payment will end up paying it off sooner. Alternately you can lower your payment to finish paying off as same time as your old loan and you saved money but did not extend. The amortization schedule doesn't increase the amount of interest you pay, it just is the schedule that tells you how much you have to pay in order to pay it off for that term. If you end up not making extra principal payments you may (or may not) end up paying more interest, a trade-off for putting more money in your monthly budget (which you can invest for retirement and make far more % than the rate on the loan).
Feb 7, 2020 12:45 AM
76 Comments
Joined Oct 2008
NiteshadeFeb 7, 2020 12:45 AM
76 Comments
Quote from SiennaDeer8270 View quoted comment :
But extending the life also resets your amortization schedule and you'll be paying primarily interest again instead of the payment going towards principal.
I take your point, but in his situation the lower interest rate may have been worth it.
Feb 7, 2020 2:38 AM
93 Comments
Joined Jul 2018
prs98Feb 7, 2020 2:38 AM
93 Comments
Thinking of refinancing a 30 year, 3.5 fixed to 15 year.

The best i got is a 15 year, 2.5 rate with 1.78 points. the are rolling over the points to loan amount.

is this a good deal ?
Feb 7, 2020 2:51 AM
1.4K Comments
Joined Jan 2020
SiennaDeer8270Feb 7, 2020 2:51 AM
1.4K Comments
Quote from emp View quoted comment :
But the extra principal payments go towards the principal so what's the issue? Lower interest rates + additional principal payments equaling your precious payment will end up paying it off sooner. Alternately you can lower your payment to finish paying off as same time as your old loan and you saved money but did not extend. The amortization schedule doesn't increase the amount of interest you pay, it just is the schedule that tells you how much you have to pay in order to pay it off for that term. If you end up not making extra principal payments you may (or may not) end up paying more interest, a trade-off for putting more money in your monthly budget (which you can invest for retirement and make far more % than the rate on the loan).
Is there a simple way to calculate how much extra you need to put towards principle in order to come out paying off the mortgage at the same time as the original loan?

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Feb 7, 2020 3:23 AM
44 Comments
Joined Apr 2012
shochuuFeb 7, 2020 3:23 AM
44 Comments
IS there any way to confirm that the offer is on your better.com application?
I think I started my app with the offer, but I don't know where to see it anywhere. I've been making offers on houses for a months but some poopoos always keep coming in and outbidding me, and now it's been so long i've forgotten..
Feb 7, 2020 3:35 AM
25 Comments
Joined Apr 2017
LSK1Feb 7, 2020 3:35 AM
25 Comments
You can ask your better.com representative if the Amex offer is there. He can see based on your application number.
Feb 7, 2020 3:59 AM
10 Comments
Joined Nov 2007
smakurFeb 7, 2020 3:59 AM
10 Comments
Quote from SiennaDeer8270 View quoted comment :
I dont think you'll get another 2500 credit if you do it again. Unless you have multiple amex cards.
Where does it say in the offer - Limit 1 per card ? I am not seeing it.
That said, getting a new Amex card should be easy !!
Feb 7, 2020 4:00 AM
570 Comments
Joined Sep 2004
rawerFeb 7, 2020 4:00 AM
570 Comments
Thanks to all those that have posted their experiences and advice so far. Just wanted to share my experience.

I first signed up at Better.com through Credit Karma, but later came across this AmEx offer. When I asked my loan rep about it, he said that while he could add the offer onto my existing loan account, he said it would be better (ha!) to create a new account through the offer link. So I did. But then I noticed that I was seeing two different rate costs, with the AmEx account having the higher costs.

When I asked about it, a different rep said to stick with the lower cost account (the original one), and that he would add the AmEx offer on to it. So now I'm just waiting on confirmation that that was done.

So just keep in mind that you might see higher rates through the AmEx offer, so be sure to shop around (even at Better.com, via opening a second account).
Feb 7, 2020 4:33 AM
510 Comments
Joined Aug 2006
vfxFeb 7, 2020 4:33 AM
510 Comments
Quote from rawer View quoted comment :
Thanks to all those that have posted their experiences and advice so far. Just wanted to share my experience.

I first signed up at Better.com through Credit Karma, but later came across this AmEx offer. When I asked my loan rep about it, he said that while he could add the offer onto my existing loan account, he said it would be better (ha!) to create a new account through the offer link. So I did. But then I noticed that I was seeing two different rate costs, with the AmEx account having the higher costs.

When I asked about it, a different rep said to stick with the lower cost account (the original one), and that he would add the AmEx offer on to it. So now I'm just waiting on confirmation that that was done.

So just keep in mind that you might see higher rates through the AmEx offer, so be sure to shop around (even at Better.com, via opening a second account).
Yo. At first I felt that you don't need to shop around due to providing personal info. Then read thru some post and people are getting better rate at various lenders. You're better to shop around to find better rate then the ones on better.com regardless whether amex one or non-amex. There are some lenders out there that simply beat better.com. Then you sweeten the deal by having $2500 credit on top of it.
Feb 7, 2020 5:02 AM
294 Comments
Joined May 2009
kumar13Feb 7, 2020 5:02 AM
294 Comments
Quote from shochuu View quoted comment :
IS there any way to confirm that the offer is on your better.com application?
I think I started my app with the offer, but I don't know where to see it anywhere. I've been making offers on houses for a months but some poopoos always keep coming in and outbidding me, and now it's been so long i've forgotten..
Appraisal fee is paid by better.com if you use Amex offer. That is one way to check it. You can call and ask better.com as well.
Feb 7, 2020 12:20 PM
835 Comments
Joined Sep 2013
mjspamFeb 7, 2020 12:20 PM
835 Comments
Quote from IAccord99I View quoted comment :
So after signing up last week, I've been bombarded with emails and phone calls multiple times a day.

Then I sent them an estimate from someone local. Basically same rate except I didnt have to buy points.

They ghosted me. I'm guessing they couldn't match and didn't want to pay me $1000.
Same with me. I have been trying to get them to call me for the past 2 days.
Last edited by mjspam February 7, 2020 at 05:28 AM.

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Feb 7, 2020 2:53 PM
227 Comments
Joined Apr 2006
jazzman161Feb 7, 2020 2:53 PM
227 Comments
Quote from jazzman161 View quoted comment :
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?
Just wanted to bump this to compare and understand what others are getting. I was able to get enough credits to come out positive ($700ish) on the ABC costs. But once you factor EFGH, it'll be like $8k.

Are people able to get ABC+EFGH and come out with cash back or am I misunderstanding?

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