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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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Mar 10, 2020 7:06 PM
1.5K Comments
Joined Sep 2005
ZornMar 10, 2020 7:06 PM
1.5K Comments
Quote from tomeaine View quoted comment :
local broker RMS (service many east coast states https://rmsmortgage.com/pages/states-licensed) quoted me yesterday 2.875 for 30yr. Closing costs are crazy however est 6k
Sounds like they are buying you down to that rate with points.
Mar 10, 2020 7:09 PM
6.7K Comments
Joined Dec 2010
blukingMar 10, 2020 7:09 PM
6.7K Comments
Quote from KrustyVT View quoted comment :
If your circumstances fit these parameters, quit messing around with Better or Rocket or any of the other places - and use owning.com [owning.com]. Current rates:

Conforming (up to $510,400) - 15 year 2.875%, 30 year 3.375%
Super Conforming (up to $765,600) - 15 year 2.99%, 30 year 3.375%

No closing costs on any loan - they are credited and paid by the lender, not rolled into your loan.

I refinanced with them back in December, and closed in 14 days. Note that these rates are up a bit today - on Friday it was 3.25% on the 30 year fixed options. Be aware that they will sell your loan as soon as you close - but there's no real hassle there.
looks like it applies to properties only in CA?
Mar 10, 2020 7:11 PM
356 Comments
Joined May 2005
KrustyVTMar 10, 2020 7:11 PM
356 Comments
Quote from bluking View quoted comment :
looks like it applies to properties only in CA?
Correct - I realize I should have been more specific about that, instead of just saying "if your circumstances fit these parameters" . The post has been edited - sorry about that!
Mar 10, 2020 7:40 PM
406 Comments
Joined Aug 2014
axcvMar 10, 2020 7:40 PM
406 Comments
Quote from Tushi View quoted comment :
Just for information:
Closed on Feb 19th and got 2500$ credit today (March 10th)
yours been sold to any larger banks or still with moneysource?
Mar 10, 2020 7:48 PM
2.6K Comments
Joined Mar 2008
isekiiMar 10, 2020 7:48 PM
2.6K Comments
Mine got funded yesterday. Waiting on my credit now.
Overall it took long because of the title company but experience wasn't too terrible.
Mar 10, 2020 7:49 PM
406 Comments
Joined Aug 2014
axcvMar 10, 2020 7:49 PM
406 Comments
Quote from Kapazza View quoted comment :
Has anyone who has closed AFTER February 12th received their credit yet?
Not yet. closed on feb 13
Mar 10, 2020 9:56 PM
1.6K Comments
Joined Nov 2012
tomeaineMar 10, 2020 9:56 PM
1.6K Comments
Quote from Zorn View quoted comment :
Sounds like they are buying you down to that rate with points.
So got my paperwork..3300 is loan costs, all else is escrow & prepaids

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Mar 10, 2020 10:37 PM
317 Comments
Joined Aug 2003
InvertexMar 10, 2020 10:37 PM
317 Comments
Did people that got the credit have to provide your card info to Better?
Mar 10, 2020 10:42 PM
205 Comments
Joined Jun 2013
https404Mar 10, 2020 10:42 PM
205 Comments
Should I have to add this offer to my Amex card ?
Mar 10, 2020 11:10 PM
574 Comments
Joined Jan 2015
KapazzaMar 10, 2020 11:10 PM
574 Comments
Quote from Invertex View quoted comment :
Did people that got the credit have to provide your card info to Better?
They just reached out to me to today to confirm my card type (Green, Gold, etc.), name on card, email address associated with AMEX, and last 5 digits of card. I closed Feb 12 and no credit yet.
Mar 10, 2020 11:13 PM
225 Comments
Joined Oct 2016
gitpicker23Mar 10, 2020 11:13 PM
225 Comments
Do you have to escrow?
Mar 10, 2020 11:23 PM
317 Comments
Joined Aug 2003
InvertexMar 10, 2020 11:23 PM
317 Comments
Quote from Kapazza View quoted comment :
They just reached out to me to today to confirm my card type (Green, Gold, etc.), name on card, email address associated with AMEX, and last 5 digits of card. I closed Feb 12 and no credit yet.
Thanks. I asked my processor today about it and she didn't know much about it other than my file has the Amex lead info. And that they would know by SSN.
Based on what you experienced they will probably reach out later.
Mar 10, 2020 11:56 PM
2.6K Comments
Joined Feb 2008
LeaninBack916Mar 10, 2020 11:56 PM
2.6K Comments
I just got moved to closing with a closing expert. How long after that does it take from them to roll out the final paperwork/setup a time to get the appointment scheduled for notary doc signing?
Mar 11, 2020 12:02 AM
2.2K Comments
Joined Sep 2014
anthonyjh21Mar 11, 2020 12:02 AM
2.2K Comments
Quote from LeaninBack916 View quoted comment :
Well.... it all depends. If the economy really implodes. You better not have a spec of dirt on your credit reports and low DTI or you wont be approved. This was also mentioned during the 2008 recession and folks with perfect files could not get a refinance finished. While it was real estate free fall in pricing, it was also lenders getting spooked. We have other bubbles (student debt, vehicle debt) that are also looming under the surface.

So... I would say you are right in terms of thinking but you better have a nice portfolio to present if this keeps going the way it is going. Even with the current drop, lenders still aren't at any time of panic mode yet.
We're just about to wrap up a 3.25% no cost, 30 year refi with no prepayment penalty. Also no cash-out. I'm always looking to extend back to 30 to take advantage of cheap debt so I'll be more than happy to do another refi within the coming months if rates warrant it. I need to read more about this better offer (didn't know about it until today) but it appears you don't need to be targeted and that you have until the end of July to initiate the application process. I'm guessing it goes to your amex even if you have a negative balance. Maybe just request a check to zero it out lol.

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Mar 11, 2020 12:06 AM
2.2K Comments
Joined Sep 2014
anthonyjh21Mar 11, 2020 12:06 AM
2.2K Comments
Quote from LeaninBack916 View quoted comment :
Well.... it all depends. If the economy really implodes. You better not have a spec of dirt on your credit reports and low DTI or you wont be approved. This was also mentioned during the 2008 recession and folks with perfect files could not get a refinance finished. While it was real estate free fall in pricing, it was also lenders getting spooked. We have other bubbles (student debt, vehicle debt) that are also looming under the surface.

So... I would say you are right in terms of thinking but you better have a nice portfolio to present if this keeps going the way it is going. Even with the current drop, lenders still aren't at any time of panic mode yet.
Also curious, given that you're not too far away what did Better require of you throughout the process? I've read many people state they've had issues with how silly or invasive some of the questions from Better were.

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