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expiredGreenworld123 posted Dec 8, 2019 2:27 PM

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

American Express Giftcards
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Deal Details
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 28, 2020 3:02 AM
567 Comments
Joined Oct 2007
voltazpartaFeb 28, 2020 3:02 AM
567 Comments
Quote from RUsum1 :
So is there an official document called a Lending Estimate that you need to get from other lenders?

And where do you submit the offers to Better? Do I have to actually apply first and then reply to emails that they send? Or do I get them to match the offers from the beginning by sending them an email with the other offers?

Thank you

I reached out to one lender by email and they replied with
30 year fixed options cash out
3.25% carries a lender fee of 1200 on top of 3rd party costs
3.375% carries a lender fee of only 500 on top of 3rd party fees
3.5% has NO lender fees


I just need to know how to get Better to match/beat this info
Yes, you need the Official Loan Estimate. Almost all other companies didn't want to send it me, they only would send me the loan summary. But, after requesting it, they sent it. After, I received them, I sent it to my assigned concierge by email saying if they would match the other Loan Estimate. Which they did. Smilie Then after that, better.com updated my account with the official loan estimate for me to review, and I proceeded after I looked it over.
Feb 28, 2020 3:57 AM
643 Comments
Joined Aug 2005
stbzerFeb 28, 2020 3:57 AM
643 Comments
So is anyone here planning on, or already in the process of, refinancing out of better, and then refinancing again through better to get another $2500 credit? With rates expected to fall even further, this isn't totally out of the question. Refi churning could become pretty profitable.
Feb 28, 2020 4:28 AM
2.6K Comments
Joined Feb 2008
LeaninBack916Feb 28, 2020 4:28 AM
2.6K Comments
Quote from stm69 :
Thanks - have some churning/credit card points related activity so trying to figure out what they might be asking for.
I have a plethora of CCs I use depending on purchase type etc. I had to provide 5 different statements from my 5 CC showing the payments from my bank account to those cards from my January bank statement. Which also shows purchases on those cards. Only one card looked a little fishy with some manufactured spending. Lol.

No issues yet but expect a few unexpected questions with the folks.
Feb 28, 2020 7:17 AM
1.9K Comments
Joined Dec 2011
summi99Feb 28, 2020 7:17 AM
1.9K Comments
My first payment is going to money source. Has anyone's loan been sold to big banks yet ? Anyone still sending your second payments to money source ?
Feb 28, 2020 3:29 PM
341 Comments
Joined Apr 2016
ACDoosyFeb 28, 2020 3:29 PM
341 Comments
Quote from summi99 :
My first payment is going to money source. Has anyone's loan been sold to big banks yet ? Anyone still sending your second payments to money source ?
My first payment went to Chase after it was originally serviced through The Money Source or something.
Feb 28, 2020 3:31 PM
1.9K Comments
Joined Dec 2011
summi99Feb 28, 2020 3:31 PM
1.9K Comments
Quote from ACDoosy :
My first payment went to Chase after it was originally serviced through The Money Source or something.
So you paid to money source or the website listed on your closing packet but the money ended up with chase ?
My first payment is not due until 04/01 to moneysource
Feb 28, 2020 4:02 PM
341 Comments
Joined Apr 2016
ACDoosyFeb 28, 2020 4:02 PM
341 Comments
Quote from summi99 :
So you paid to money source or the website listed on your closing packet but the money ended up with chase ?
My first payment is not due until 04/01 to moneysource
It switched to Chase before first payment was due.

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Feb 28, 2020 4:03 PM
1.9K Comments
Joined Dec 2011
summi99Feb 28, 2020 4:03 PM
1.9K Comments
Quote from ACDoosy :
It switched to Chase before first payment was due.
Thanks. Good to know. I'll keep an eye out for any chances.
Feb 28, 2020 4:09 PM
6.4K Comments
Joined Jun 2005
PhantasmXFeb 28, 2020 4:09 PM
6.4K Comments
Has anyone here refinanced a rental property?
Feb 28, 2020 5:21 PM
22 Comments
Joined Dec 2017
gofarhaveacigarFeb 28, 2020 5:21 PM
22 Comments
Quote from stblazer :
So is anyone here planning on, or already in the process of, refinancing out of better, and then refinancing again through better to get another $2500 credit? With rates expected to fall even further, this isn't totally out of the question. Refi churning could become pretty profitable.
Interested in this as well.I wonder if you even have to finance away from better.com first - or if you can just refinance your current loan with better.com to another amex card?
Feb 28, 2020 6:51 PM
3 Comments
Joined Nov 2018
Alme1263Feb 28, 2020 6:51 PM
3 Comments
Just went through the process to try and get a loan match.

540k loan, got multiple offers and LEs for 3.5% with no points. Better was offering 5% as their best rate. They said they could not match 3.5% on a 30 year fixed loan, and that since it was over 500k, they don't have the rate match guarantee. So I must have gotten unlucky.
Feb 28, 2020 6:56 PM
443 Comments
Joined Jan 2014
moorheadhawkFeb 28, 2020 6:56 PM
443 Comments
Ended up closing with Better.com. I sent Quicken and Better.com head to head. Loan amount was 214K on a 300K home. Total closing cost was only 1083 out of pocket all said and done. I got a lower interest rate (3.375%), lower monthly payment and lower terms and got paid to refi. Sweetest deal ever. Thanks.
Feb 28, 2020 8:24 PM
510 Comments
Joined Aug 2006
vfxFeb 28, 2020 8:24 PM
510 Comments
Quote from Alme1263 :
Just went through the process to try and get a loan match.

540k loan, got multiple offers and LEs for 3.5% with no points. Better was offering 5% as their best rate. They said they could not match 3.5% on a 30 year fixed loan, and that since it was over 500k, they don't have the rate match guarantee. So I must have gotten unlucky.
It's in the fine print:

https://better.com/faq/better-gua...fine-print

I got lucky because my loan was < 500K.

Over 500K might consider Jumbo loan, look at the Jumbo rate for 30-year fixed at http://www.mortgagenewsdaily.com/mortgage_rates/
Feb 28, 2020 8:29 PM
270 Comments
Joined Nov 2011
TushiFeb 28, 2020 8:29 PM
270 Comments
Quote from ACDoosy :
It switched to Chase before first payment was due.
Thanks for the info.
I am in the same boat. 1st payment due on April 1st. So thinking mine would also be sold to big bank.
Just waiting for the Amex credit now.

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Feb 28, 2020 8:39 PM
223 Comments
Joined Jun 2007
NominalProductFeb 28, 2020 8:39 PM
223 Comments
Quote from moorheadhawk :
Ended up closing with Better.com. I sent Quicken and Better.com head to head. Loan amount was 214K on a 300K home. Total closing cost was only 1083 out of pocket all said and done. I got a lower interest rate (3.375%), lower monthly payment and lower terms and got paid to refi. Sweetest deal ever. Thanks.
Would you mind sharing how you got so low closing costs?

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