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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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?
Also while they're techincally correct that you have to lock the day they make the offer to get that offer, that doesn't mean rates will go up. They may go down the next day. They may stay the same and you can lock the next day. But if you don't lock today and rates go up tomorrow, I don't think you can then say "okay lock me in at the rate you showed me yesterday".
I would send Better's offer back to Rocket and ask them to beat it (not just match it). Then send Rocket's new offer back to Better. Keep doing that until one of them says they cannot match any further. Apparently Rocket has the same $2500 Amex promo that Better has (I don't know if a link was provided). So your best case scenario would be to get an offer from Rocket that Better won't match so you can collect the $2500 from Rocket and $1000 for Better from their price guarantee
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.
Also while they're techincally correct that you have to lock the day they make the offer to get that offer, that doesn't mean rates will go up. They may go down the next day. They may stay the same and you can lock the next day. But if you don't lock today and rates go up tomorrow, I don't think you can then say "okay lock me in at the rate you showed me yesterday".
I would send Better's offer back to Rocket and ask them to beat it (not just match it). Then send Rocket's new offer back to Better. Keep doing that until one of them says they cannot match any further. Apparently Rocket has the same $2500 Amex promo that Better has (I don't know if a link was provided). So your best case scenario would be to get an offer from Rocket that Better won't match so you can collect the $2500 from Rocket and $1000 for Better from their price guarantee
Also while they're techincally correct that you have to lock the day they make the offer to get that offer, that doesn't mean rates will go up. They may go down the next day. They may stay the same and you can lock the next day. But if you don't lock today and rates go up tomorrow, I don't think you can then say "okay lock me in at the rate you showed me yesterday".
I would send Better's offer back to Rocket and ask them to beat it (not just match it). Then send Rocket's new offer back to Better. Keep doing that until one of them says they cannot match any further. Apparently Rocket has the same $2500 Amex promo that Better has (I don't know if a link was provided). So your best case scenario would be to get an offer from Rocket that Better won't match so you can collect the $2500 from Rocket and $1000 for Better from their price guarantee
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I've only got a Dillard's Amex, BOA Amex, and Serve Amex and I'm not sure any of these will qualify. The Serve account didn't have this offer listed.
The Amex credit does not appear on the LE because it's not a lender credit (but that won't stop the Better reps from making it sound like one).
A. Origination Charges: $995
B. $722: Appraisal Fee$478, Credit Report Fee $49, Doc Prep Free $125, Food Cert Fee: $6, Tax Service Fee$ 6
C: $2698, Lender Title Ins $1152, Settlement Fee $405, $Survey Fee$960, Endorsement Fee $50, T -17 $25, T-19 $20, T-30 $30, T-36:$25
D. Total Loan Cost (A+B+C) 4415
Just waiting on other Loan Estimate and choose the best one for Better to match.
Should be able to reduce Survey Fee $960 because seller has previous Survey 3 years ago.
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?
Also in NYC. Just got off the phone with better.com
Refinancing. 30 year loan at 3.125% no points. 800 + credit score.
Closing cost about 4500 plus mortgage tax and 2500 in amex credits.
They added a $ 750 Attorney Payoff fee to the LE. Not sure what that is as there's already an attorney bank attorney Fee $895 and Attorney CEMA Doc Prep Fee of $295.
Better.com mentioned I don't get the full mortgage tax back even though it's a CEMA loan. He said I would get about 50% even though I'm just refinancing the same amount. Does that sound correct? Did they also tell you the same?
I've only got a Dillard's Amex, BOA Amex, and Serve Amex and I'm not sure any of these will qualify. The Serve account didn't have this offer listed.
Not sure I want to apply for an Amex just for this unless that would guarantee I'd get the $2500 offer...
Refinancing. 30 year loan at 3.125% no points. 800 + credit score.
Closing cost about 4500 plus mortgage tax and 2500 in amex credits.
They added a $ 750 Attorney Payoff fee to the LE. Not sure what that is as there's already an attorney bank attorney Fee $895 and Attorney CEMA Doc Prep Fee of $295.
Better.com mentioned I don't get the full mortgage tax back even though it's a CEMA loan. He said I would get about 50% even though I'm just refinancing the same amount. Does that sound correct? Did they also tell you the same?
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Refinancing. 30 year loan at 3.125% no points. 800 + credit score.
Closing cost about 4500 plus mortgage tax and 2500 in amex credits.
They added a $ 750 Attorney Payoff fee to the LE. Not sure what that is as there's already an attorney bank attorney Fee $895 and Attorney CEMA Doc Prep Fee of $295.
Better.com mentioned I don't get the full mortgage tax back even though it's a CEMA loan. He said I would get about 50% even though I'm just refinancing the same amount. Does that sound correct? Did they also tell you the same?
I was just curious as you said Attorney payoff fee.
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