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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 25, 2020 5:24 AM
3.7K Comments
Joined Jul 2012
MilesHunterMar 25, 2020 5:24 AM
3.7K Comments
Locked 3.125 with a company for $1100 in points. Going to submit loan estimate to better.com to try for the 1k.
Mar 25, 2020 1:21 PM
5.4K Comments
Joined Jul 2004
Gdog2004Mar 25, 2020 1:21 PM
5.4K Comments
If you guys have good credit, good income and plenty of equity you should not be paying points. The bank should be giving YOU lender credits.
Mar 25, 2020 1:56 PM
138 Comments
Joined Sep 2009
rwerns21Mar 25, 2020 1:56 PM
138 Comments
Quote from Gdog2004 View quoted comment :
If you guys have good credit, good income and plenty of equity you should not be paying points. The bank should be giving YOU lender credits.
That's such a general statement that makes no sense. Yes, you should be offered a better rate than someone with poor credit. But any customer can take that rate and take a credit or pay points based on their specific situation (to improve or get credits for closing). It might make sense for me to pay 5k in points to get best rate since I know this is my forever home.
Mar 25, 2020 4:15 PM
5.4K Comments
Joined Jul 2004
Gdog2004Mar 25, 2020 4:15 PM
5.4K Comments
Quote from rwerns21 View quoted comment :
That's such a general statement that makes no sense. Yes, you should be offered a better rate than someone with poor credit. But any customer can take that rate and take a credit or pay points based on their specific situation (to improve or get credits for closing). It might make sense for me to pay 5k in points to get best rate since I know this is my forever home.
it would take forever to recoup 5k from paying points.
Mar 25, 2020 4:21 PM
3.1K Comments
Joined Jul 2010
MasejoerMar 25, 2020 4:21 PM
3.1K Comments
Quote from Gdog2004 View quoted comment :
it would take forever to recoup 5k from paying points.

If you have a $200k loan, sure the payback at the best rates may be over 10 years. If you have a million dollar loan, maybe 5 years? Would need to do the math.

You're speaking in absolutes. Everyone's situation is different.
Last edited by Masejoer March 25, 2020 at 09:36 AM.
Mar 25, 2020 5:15 PM
5.4K Comments
Joined Jul 2004
Gdog2004Mar 25, 2020 5:15 PM
5.4K Comments
Quote from Masejoer View quoted comment :
If you have a $200k loan, sure the payback at the best rates may be over 10 years. If you have a million dollar loan, maybe 5 years? Would need to do the math.

You're speaking in absolutes. Everyone's situation is different.
It is, but I think most of the people on this thread don't have million dollar homes and as a result, points are generally not a good idea.
Mar 25, 2020 5:19 PM
321 Comments
Joined Dec 2003
jamoriMar 25, 2020 5:19 PM
321 Comments
Quote from MilesHunter View quoted comment :
Locked 3.125 with a company for $1100 in points. Going to submit loan estimate to better.com to try for the 1k.
I got about the same -- but I'd much rather have better.com match it, and get the $2500 credit instead of $1000! Going to try this afternoon


For everyone else -- yeah, better.com's default rates suck. But they'll match anything else you bring them. So search on Zillow Mortgages; Sebonic and others are offering 30yr fixed $0 lender cost at 3.25% right now for top-tier circumstances. Apply there, get Loan Estimate. Ask better.com to match. Best of both worlds

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Mar 25, 2020 5:36 PM
677 Comments
Joined May 2007
ultrasubzero123Mar 25, 2020 5:36 PM
677 Comments
Quote from Gdog2004 View quoted comment :
It is, but I think most of the people on this thread don't have million dollar homes and as a result, points are generally not a good idea.
I agree with the other comment, it's just way too hard to generalize these kinds of things and making huge assumptions like that can create more damage than be helpful.

I think the better advice would be: everyone should calculate their own payback period for points, and then determine if you think you'll stay at the home for that time period.
Mar 25, 2020 6:38 PM
2.6K Comments
Joined Mar 2008
isekiiMar 25, 2020 6:38 PM
2.6K Comments
best bet is to find the lowest rate with the highest lender credit then match with better.
Mar 25, 2020 9:10 PM
271 Comments
Joined Nov 2011
TushiMar 25, 2020 9:10 PM
271 Comments
For people who already got the credit:
Any suggestion to use the 2500$ from Amex?
I have Blue Cash Preferred, so get 6% cash back in grocery stores. I plan to purchase visa gift cards. So 5$ fees for each 5 cards (500*5). fees = 25$. But I get 150 cash back from Amex.
I am a costco shopper so need Visa cards.

Any other ideas to get the "cash" out from this 2500$ credit?
Mar 25, 2020 9:13 PM
1K Comments
Joined Nov 2013
sowhatwegetdrunkMar 25, 2020 9:13 PM
1K Comments
Quote from Tushi View quoted comment :
For people who already got the credit:
Any suggestion to use the 2500$ from Amex?
I have Blue Cash Preferred, so get 6% cash back in grocery stores. I plan to purchase visa gift cards. So 5$ fees for each 5 cards (500*5). fees = 25$. But I get 150 cash back from Amex.
I am a costco shopper so need Visa cards.

Any other ideas to get the "cash" out from this 2500$ credit?
Lol. Just call amex and ask them to send a check for the credit balance
Mar 25, 2020 9:16 PM
138 Comments
Joined Sep 2009
rwerns21Mar 25, 2020 9:16 PM
138 Comments
Quote from Tushi View quoted comment :
For people who already got the credit:
Any suggestion to use the 2500$ from Amex?
I have Blue Cash Preferred, so get 6% cash back in grocery stores. I plan to purchase visa gift cards. So 5$ fees for each 5 cards (500*5). fees = 25$. But I get 150 cash back from Amex.
I am a costco shopper so need Visa cards.

Any other ideas to get the "cash" out from this 2500$ credit?
I would just request a check. But that will take a week or two to receive.
Mar 25, 2020 9:23 PM
271 Comments
Joined Nov 2011
TushiMar 25, 2020 9:23 PM
271 Comments
Quote from sowhatwegetdrunk View quoted comment :
Lol. Just call amex and ask them to send a check for the credit balance
Really?! I have to try that. Thanks for the info.
Mar 25, 2020 9:31 PM
510 Comments
Joined Aug 2006
vfxMar 25, 2020 9:31 PM
510 Comments
Funded 2/24. Got amex credit 3/14. Price matched LE at 3.25 for 30yrs fixed. In the end, $2500 amex credit and 2K lender credit. All in all, it was a good refi. Although at point i saw 3.15 with 1.5K, but already signed CD. Not to get greedy, overall super happy with my rate and all credits. Waiting for sub 3 and go for another round if possible. Good luck to all. Don't give up and get as much as LE as possible. That is the key to get the lowest rate.

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Mar 25, 2020 9:47 PM
1.6K Comments
Joined Jun 2013
boofatMar 25, 2020 9:47 PM
1.6K Comments
Quote from Lilyly View quoted comment :
Got good rates? Why not praying for it not to go through and wait for 0% or some negative APR?
Maybe I wasn't clear... I was worried with all the mess going on that the bank may pull out... Anyway we signed today. 2.625% 15 year.

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