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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 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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9,848 Comments

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Mar 30, 2020 08:01 PM
1,960 Posts
Joined Nov 2007
RhizzlebopMar 30, 2020 08:01 PM
1,960 Posts
Quote from dcrosb1 :
Does anyone know how long you need to wait in order to do a second refinance through better.com? I was thinking if rates keep dropping I may try to get another one in before the promo expires in October.
Serious question, why do we think one can do this amex promo more than one time?
Mar 30, 2020 08:03 PM
3,381 Posts
Joined Jun 2008
heyeaglefnMar 30, 2020 08:03 PM
3,381 Posts
Quote from Rhizzlebop :
Serious question, why do we think one can do this amex promo more than one time?
Many people have it on different cards, not sure the terms say you can't do it if you already did it.
Mar 30, 2020 08:06 PM
15 Posts
Joined Dec 2011
dcrosb1Mar 30, 2020 08:06 PM
15 Posts
Quote from Rhizzlebop :
Serious question, why do we think one can do this amex promo more than one time?
I don't see anywhere in the terms stating it's only once per person but either way I could just apply the statement credit to a card my wife has.
Mar 30, 2020 08:14 PM
2,021 Posts
Joined Feb 2008
stm69Mar 30, 2020 08:14 PM
2,021 Posts
Quote from Rhizzlebop :
Serious question, why do we think one can do this amex promo more than one time?
I confirmed it with my rep - there's no limit and no minimum time to churn loan.
Mar 30, 2020 08:16 PM
866 Posts
Joined Aug 2006
SmellyCatMar 30, 2020 08:16 PM
866 Posts
locked in 2.5 on a 15yr , 11 months to break even. saving 60K in interest over the next 15 yrs.
my best SD yet. except now i'm going to drop 2K on an espresso machine Big Grin
Mar 30, 2020 08:29 PM
6,153 Posts
Joined Jun 2005
PhantasmXMar 30, 2020 08:29 PM
6,153 Posts
The rates are creeping back up. Anyone find rates below 3% for 30 year fixed?
Mar 30, 2020 08:35 PM
1,971 Posts
Joined Aug 2010
Debit2CashMar 30, 2020 08:35 PM
1,971 Posts
Quote from PhantasmX :
The rates are creeping back up. Anyone find rates below 3% for 30 year fixed?
No, my lowest was like 3.125, but I don't even consider than an option because it had 4500 in points so it was basically buying the rate down. The rates on Better.com don't seem very good at all.

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Mar 30, 2020 08:35 PM
1 Posts
Joined Nov 2007
bsatyenMar 30, 2020 08:35 PM
1 Posts
I was able to get 3.5% with 5K credits from better today
Mar 30, 2020 08:40 PM
326 Posts
Joined Oct 2004
quikieMar 30, 2020 08:40 PM
326 Posts
perfect. I got 2.5% 15 year with $2500 closing and $2500 statement credit. thanks guys
Mar 30, 2020 09:03 PM
264 Posts
Joined Oct 2007
vickyloveslifeMar 30, 2020 09:03 PM
264 Posts
Are they giving 2.5 % for 15 years currently?
Mar 30, 2020 09:12 PM
866 Posts
Joined Aug 2006
SmellyCatMar 30, 2020 09:12 PM
866 Posts
Quote from vickyloveslife :
Are they giving 2.5 % for 15 years currently?
yes, w/points
Mar 30, 2020 10:33 PM
264 Posts
Joined Oct 2007
vickyloveslifeMar 30, 2020 10:33 PM
264 Posts
does any one has a new link? existing one does not work.
Mar 30, 2020 10:43 PM
1,822 Posts
Joined Apr 2004
jon2249Mar 30, 2020 10:43 PM
1,822 Posts
Quote from vickyloveslife :
does any one has a new link? existing one does not work.
https://better.com/with/amex

Serious Question, What does /w points mean?

https://www.refinancemortgagerate...ng-points/
Last edited by jon2249 March 30, 2020 at 03:45 PM.
Mar 30, 2020 10:51 PM
263 Posts
Joined Apr 2009
jdavidMar 30, 2020 10:51 PM
263 Posts
Waiting to hear back from Better if they will match the 2.875% rate I was offered from SoFi for a 30 year fixed refiance

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Mar 30, 2020 10:59 PM
10,762 Posts
Joined Nov 2010
youra6Mar 30, 2020 10:59 PM
10,762 Posts
Quote from jon2249 :
https://better.com/with/amex

Serious Question, What does /w points mean?

https://www.refinancemortgagerate...ng-points/
It means you pay to buy down your interest rate. So let's say they give you 4% on a 100k loan, but give you an option to get 3.5%. Kicker is that it takes 2 points to do so. 2 points here refer to 2% of the loan (in this case is 2,000 dollars)

If your principal left is 100k, that means you have to pay 2K to buy down to 3.5% interest rate.

You need to do the math to figure out when you break even and recoup those 2K you spent on the lower interest rate. Let's pretend the 3.5 versus 4% you pay around 50 dollars less per month. It would take you over 3 years just to break even.

Now you have to ask yourself if it's worth it. If you plan on staying 10 years then maybe you take it. But if you plan on moving within 2, then no absolutely not.

Another option is that you can ask them to increase your loan amount to 102,000 to get to that 3.5% rate. So while you pay nothing upfront, you're paying for it in the extra interest for the remainder of the increased loan.

Hope this helps.
Last edited by youra6 March 30, 2020 at 04:02 PM.

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