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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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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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Mar 4, 2020 10:33 PM
58 Comments
Joined Nov 2013
6883Mar 4, 2020 10:33 PM
58 Comments
Quote from ychen07 :
About CEMA, I was told that I'll only pay the tax for the difference in 2 mortgages (new money). For my case, I have PennyMac so extra fee will be around 1100. For the 3.125% 30 year loan, is it for a 1 family house? I'm asking because I refi for a 2 family house and generally loan rate will be 0.25% higher. 3.125%+0.25%=3.375% which is what I'm getting.
yeah my house is a 1 family.
I'll call them again to question the CEMA. It doesn't sound right to me.
Do you have an attorney pay off fee on your LE?
Mar 4, 2020 10:38 PM
58 Comments
Joined Nov 2013
6883Mar 4, 2020 10:38 PM
58 Comments
Quote from LeaninBack916 :
Is it for buying a short sale? I only know about attorney's fees because the bank can makeup whatever they want. They made me pay 1% of the house purchase price for the seller's attorney and then $800 to their legal counsel. The only thing their legal counsel did was approve the loan (This is all 2016). If it wasn't such a great deal i would have walked once i found out as it was never disclosed up front and the seller didn't have an attorney until the sale which apparently was required per Bank of America.

I was just curious as you said Attorney payoff fee.
No this is just a pure refinance.
They mentioned the "payoff attorney fee" is used to process the CEMA request.
Mar 4, 2020 10:44 PM
12.1K Comments
Joined Oct 2008
RUsum1Mar 4, 2020 10:44 PM
12.1K Comments
Has anyone heard of a situation like this:
  • Lender rep agreed to 3.25% and $1000 lender credit. I tell them that is good.
  • They send me a link to sign some eDocs which show a loan $6000 more than what I need, a higher rate, lots of extra fees, and no lender credit.
  • I tell her that I don't want to sign any documents with incorrect info
  • She swears to me that I have to first sign the document that shows what their initial offer was so that I officially become their client, and after I sign is the only time they have the ability to fix the numbers to what was agreed to.

It sounds sketchy as hell and I don't trust it at all. I asked why would I be required to sign official documents with incorrect numbers? Why can't the documents be changed to show the correct numbers that I can then sign? She says this is how 90% of loans are done.
Mar 4, 2020 10:56 PM
2.6K Comments
Joined Feb 2008
LeaninBack916Mar 4, 2020 10:56 PM
2.6K Comments
Quote from 6883 :
No this is just a pure refinance.
They mentioned the "payoff attorney fee" is used to process the CEMA request.
Oh i see NY only thing. Ok NVM on my question. But interesting again to learn the nuances of other states.
Mar 4, 2020 10:58 PM
805 Comments
Joined Sep 2006
ychen07Mar 4, 2020 10:58 PM
805 Comments
Quote from 6883 :
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?
Where did find the original rate offer for Better to match?
Mar 4, 2020 11:00 PM
2.6K Comments
Joined Feb 2008
LeaninBack916Mar 4, 2020 11:00 PM
2.6K Comments
Quote from RUsum1 :
Has anyone heard of a situation like this:
  • Lender rep agreed to 3.25% and $1000 lender credit. I tell them that is good.
  • They send me a link to sign some eDocs which show a loan $6000 more than what I need, a higher rate, lots of extra fees, and no lender credit.
  • I tell her that I don't want to sign any documents with incorrect info
  • She swears to me that I have to first sign the document that shows what their initial offer was so that I officially become their client, and after I sign is the only time they have the ability to fix the numbers to what was agreed to.

It sounds sketchy as hell and I don't trust it at all. I asked why would I be required to sign official documents with incorrect numbers? Why can't the documents be changed to show the correct numbers that I can then sign? She says this is how 90% of loans are done.
The only part i would agree is the loan amount. Some lenders buffer in a bit more and then can come down to your number. They do that so if the initial pull on info shows more is needed they can go down rather than up.

The rest of it sounds absurd. However, the one thing i would be mindful of is if you are already "ready" to go. You can string her along with the initial LE if its totally off base. The only thing you would have to send money out for (usually by signing a CC doc) giving them a card to charge the appraisal too. The rest you can back out instantly. I also wouldnt send them any of my docs until the updated LE comes to your eyes.
Mar 4, 2020 11:08 PM
208 Comments
Joined Dec 2003
david82Mar 4, 2020 11:08 PM
208 Comments
Quote from RUsum1 :
Has anyone heard of a situation like this:
  • Lender rep agreed to 3.25% and $1000 lender credit. I tell them that is good.
  • They send me a link to sign some eDocs which show a loan $6000 more than what I need, a higher rate, lots of extra fees, and no lender credit.
  • I tell her that I don't want to sign any documents with incorrect info
  • She swears to me that I have to first sign the document that shows what their initial offer was so that I officially become their client, and after I sign is the only time they have the ability to fix the numbers to what was agreed to.

It sounds sketchy as hell and I don't trust it at all. I asked why would I be required to sign official documents with incorrect numbers? Why can't the documents be changed to show the correct numbers that I can then sign? She says this is how 90% of loans are done.
The Loan Amount is what i agree with, the other stuff sounds like that person is lazy and doesnt want to adjust the new numbers or sounds kind of sketchy. Just tell her to adjust it or else you wont go forward with it.

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Mar 4, 2020 11:27 PM
12.1K Comments
Joined Oct 2008
RUsum1Mar 4, 2020 11:27 PM
12.1K Comments
Quote from LeaninBack916 :
The only part i would agree is the loan amount. Some lenders buffer in a bit more and then can come down to your number. They do that so if the initial pull on info shows more is needed they can go down rather than up.

The rest of it sounds absurd. However, the one thing i would be mindful of is if you are already "ready" to go. You can string her along with the initial LE if its totally off base. The only thing you would have to send money out for (usually by signing a CC doc) giving them a card to charge the appraisal too. The rest you can back out instantly. I also wouldnt send them any of my docs until the updated LE comes to your eyes.
Quote from david82 :
The Loan Amount is what i agree with, the other stuff sounds like that person is lazy and doesnt want to adjust the new numbers or sounds kind of sketchy. Just tell her to adjust it or else you wont go forward with it.
On the document she wants me to sign are 3.25%, paying extra $1000 to get that rate, $500 appraisal fee, etc.

What she says will happen AFTER I sign is 3.125%, I get $1000 credit, no appraisal fee

It seems so off base to me
Mar 5, 2020 12:01 AM
805 Comments
Joined Sep 2006
ychen07Mar 5, 2020 12:01 AM
805 Comments
Quote from 6883 :
yeah my house is a 1 family.
I'll call them again to question the CEMA. It doesn't sound right to me.
Do you have an attorney pay off fee on your LE?
Actually there is attorney pay off fee. I was looking at Rocket LE which doesn't have Attorney pay off fee. But it has CEMA Assigning Bank Fee of same amount 750.
Last edited by ychen07 March 4, 2020 at 07:06 PM.
Mar 5, 2020 12:04 AM
2.6K Comments
Joined Feb 2008
LeaninBack916Mar 5, 2020 12:04 AM
2.6K Comments
Quote from RUsum1 :
On the document she wants me to sign are 3.25%, paying extra $1000 to get that rate, $500 appraisal fee, etc.

What she says will happen AFTER I sign is 3.125%, I get $1000 credit, no appraisal fee

It seems so off base to me
Is that the one with better.com? Im assuming not because of the appraisal fee? They have changed my LE 11 times so far. The 2nd, 5th and 11th one were the right numbers. The other ones bounced around. I just had the original email stating the terms and they corrected. The other times it bounced around for loan amount, random point costs, etc. I dont really care till the final closing docs come and it says the agreed upon terms.

Speaking of... can they move this loan along already... been sitting here now with no movement today and all tasks reviewed and completed since yesterday.
Last edited by LeaninBack916 March 4, 2020 at 04:07 PM.
Mar 5, 2020 12:53 AM
12.1K Comments
Joined Oct 2008
RUsum1Mar 5, 2020 12:53 AM
12.1K Comments
Quote from LeaninBack916 :
Is that the one with better.com? Im assuming not because of the appraisal fee? They have changed my LE 11 times so far. The 2nd, 5th and 11th one were the right numbers. The other ones bounced around. I just had the original email stating the terms and they corrected. The other times it bounced around for loan amount, random point costs, etc. I dont really care till the final closing docs come and it says the agreed upon terms.

Speaking of... can they move this loan along already... been sitting here now with no movement today and all tasks reviewed and completed since yesterday.
This is with my current mortgage company. Better finally stated that he could not match.

Your numbers have bounced around after signing the eDocs?
Mar 5, 2020 1:10 AM
133 Comments
Joined Dec 2008
yakk0Mar 5, 2020 1:10 AM
133 Comments
Quote from RUsum1 :
On the document she wants me to sign are 3.25%, paying extra $1000 to get that rate, $500 appraisal fee, etc.

What she says will happen AFTER I sign is 3.125%, I get $1000 credit, no appraisal fee

It seems so off base to me
When I refi'ed (not with Better) the document I signed did not have the promised lender credits and waived appraisal fee , but they did eventually come off at the very end. I agree it's a sketchy process, but at least for me it all worked out. However, the different rate would worry me.
Mar 5, 2020 1:14 AM
12.1K Comments
Joined Oct 2008
RUsum1Mar 5, 2020 1:14 AM
12.1K Comments
Quote from yakk0 :
When I refi'ed (not with Better) the document I signed did not have the promised lender credits and waived appraisal fee , but they did eventually come off at the very end. I agree it's a sketchy process, but at least for me it all worked out. However, the different rate would worry me.
Well the form they want me to sign does have "Rate Lock = No" checked off so is that a good sign?
Mar 5, 2020 3:48 AM
2.6K Comments
Joined Mar 2008
isekiiMar 5, 2020 3:48 AM
2.6K Comments
Quote from RUsum1 :
Well the form they want me to sign does have "Rate Lock = No" checked off so is that a good sign?
If it's not locked why bother even signing it ? Isn't the whole point of locking so that you keep the rate if it decides to go up ?
Just keep shopping rates and take the best you get.

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Mar 5, 2020 3:53 AM
9.1K Comments
Joined Jul 2006
gkwongMar 5, 2020 3:53 AM
9.1K Comments
Quote from isekii :
If it's not locked why bother even signing it ? Isn't the whole point of locking so that you keep the rate if it decides to go up ?
Just keep shopping rates and take the best you get.
Rates arent going up anytime soon

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