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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We need more TX datapoints. I have a hard time getting below 3.9% $0 points for > $140K mortgage ($185K value). On Zillow in my zip, it's showing 4.1-4.375% with 760 score and above on 30 years. Not much difference with 20-15 year mortgages either. I am assuming rates differ on loan size, state, and zip code, considering 760+ score.
I was pretty happy to drop down to 3.5% and make $1300 doing it but if the Fed keeps cutting rates I might drop down to a 20 year if its going to be 2.25 or something ridiculous
We need more TX datapoints. I have a hard time getting below 3.9% $0 points for > $140K mortgage ($185K value). On Zillow in my zip, it's showing 4.1-4.375% with 760 score and above on 30 years. Not much difference with 20-15 year mortgages either. I am assuming rates differ on loan size, state, and zip code, considering 760+ score.
30 Year Fixed
3.500% / 3.725%
Points - $6,653
Fees - $2,689
3.375. 4711 in lender credits + Amex credit
15 year about 270k refinanced from 4.125 @ 30 year with 20-21year remaining
Mortgage going up about 300 bucks but we're ok with the increase as the years cut shorter and it's going to be a 2 year at most thing.
3.375. 4711 in lender credits + Amex credit
15 year about 270k refinanced from 4.125 @ 30 year with 20-21year remaining
Mortgage going up about 300 bucks but we're ok with the increase as the years cut shorter and it's going to be a 2 year at most thing.
Before knowing about that error, I submitted the 3.25% estimate sheet to my current mortgage company who said they would be able to match it which includes the $1000 lender credit. I'm trying to get that finalized with them right now to see if it actually works out
As a quick summary for those wondering
First filled out the info on Better.com which came back with 3.5% plus $1,900 in points
Got a quote from another lender which offered 3.5% with no fees
Better came back at 3.5% with $600 in lender credits
Other lender replied with 3.5% and $1000 credit or 3.25% plus $400 in points
Better replied with 3.25% plus $141 in points
Other lender replied with 3.25% and no costs
Now I might end up with 3.25% and $1000 in credit
This is for a $185k home value, $140k mortgage, 800+ credit, Charleston SC area
(I never saw anything resembling 3% and no points for my situation so people that are reporting those figures have different circumstances like area, value-to-mortgage, etc.)
Better surprised me and actually offered to match the 3.25% with $1000 credit. Then he also showed me a chart which had 3.125% with $871 in credit or 3% with $167 in credit. I will opt for the 3.125% I think. (the $704 difference in credit would take 70 months to get back since the difference in monthly payments is $10).
I will send this new offer to my current mortgage company and the other lender as well to see if they'll beat the new offer. No telling at this point. I might be picking Better after all even without the Amex offer.
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Better surprised me and actually offered to match the 3.25% with $1000 credit. Then he also showed me a chart which had 3.125% with $871 in credit or 3% with $167 in credit. I will opt for the 3.125% I think. (the $704 difference in credit would take 70 months to get back since the difference in monthly payments is $10).
I will send this new offer to my current mortgage company and the other lender as well to see if they'll beat the new offer. No telling at this point. I might be picking Better after all even without the Amex offer.
What exactly is a credit/points?
What exactly is a credit/points?
or
you pay points to lock in a particular rate (I could choose to pay an additional $500 at closing to get 2.85%)
or
you pay points to lock in a particular rate (I could choose to pay an additional $500 at closing to get 2.85%)
Better surprised me and actually offered to match the 3.25% with $1000 credit. Then he also showed me a chart which had 3.125% with $871 in credit or 3% with $167 in credit. I will opt for the 3.125% I think. (the $704 difference in credit would take 70 months to get back since the difference in monthly payments is $10).
I will send this new offer to my current mortgage company and the other lender as well to see if they'll beat the new offer. No telling at this point. I might be picking Better after all even without the Amex offer.
We need more TX datapoints. I have a hard time getting below 3.9% $0 points for > $140K mortgage ($185K value). On Zillow in my zip, it's showing 4.1-4.375% with 760 score and above on 30 years. Not much difference with 20-15 year mortgages either. I am assuming rates differ on loan size, state, and zip code, considering 760+ score.
Loan for 128K
Credit Score 806
Address in near the Waco area
15 Year 2.875% lender credit of $312. Closing cost $4415(Total Loan Cost D=A+B+C)
Have an inspection next week to finalize Purchase agreement 1-2 weeks from now. Got some good rate quotes from other but won't give me an official Loan Estimate yet.
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Rocket:
Total Loan: 434K
Term: 20 year fixed
Rate: 3.375%
Total Cost (A+B+C on LE): 4500
Better:
Total Loan: 434K
Term: 20 year fixed
Rate: 3.375%
Total Cost (A+B+C on Loan Estimate): 3500
Plus $2500 Amex credit
Better said the offer is only valid today. They want me to pay Appraisal Fee deposit today. I feel I'm kind of pressured into accept the offer right away. I'm still debating if this is a good rate. My credit score is above 800 and Load to Value (LTV) is ~40%. Since I'm in NYC, so I will need to do CEMA to avoid mortgage tax. Anyone has any insights if this is good rate? And for others who have closed, how did you ask for lender credit? Do they just give it to you?
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