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expired Posted by Greenworld123 • Dec 8, 2019
expired Posted by Greenworld123 • Dec 8, 2019

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.
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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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9,848 Comments

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Apr 13, 2020
45 Posts
Joined Nov 2006
Apr 13, 2020
Waddlepuss
Apr 13, 2020
45 Posts
Quote from sree2233 :
Loan was funded on 3/6. Still don't see credit.... anyone in the same boat? Called better.com and they say it can take up to 8weeks
funded 3/4 and sold to provident funding around the end of the month because they had to wait until I made 1 payment to The Money Source. I still don't have the $2500 credit.
Apr 13, 2020
423 Posts
Joined Aug 2009
Apr 13, 2020
penguincatcher
Apr 13, 2020
423 Posts
Quote from dmistretta :
funded 3/4 and sold to provident funding around the end of the month because they had to wait until I made 1 payment to The Money Source. I still don't have the $2500 credit.
same here, still waiting
Apr 13, 2020
1,960 Posts
Joined Nov 2007
Apr 13, 2020
Rhizzlebop
Apr 13, 2020
1,960 Posts
So, I applied with AIMloans, and that guy is nuts. He said I already chose my rate when I applied and they wont send a GFE until I lock, and they wont lock till I pay an appraisal fee, which of course I wont.

Just talked to a guy at Mutual of Omaha, (via costco).
He is wanting to send a disclosure at 3.25% for a 25 yr, and he said the currently expired rates from today would mean $1400 in pts, (on 199K) to get me to 3.125%, but he wants to disclose at 3.25% and can just discuss pts later. I said, so if rates go lower, and I lock will you send me an updated GFE?

He said, well I'll just email you and say the rate is locked at xx.

What am I doing wrong as I NEED a firm GFE to send to better, WHENEVER I am ready to do so once I'm done rate watching.

Are these guys wanting to avoid sending a GFE if they think the person is shopping it?

How are you guys getting them to send a GFE later?

aka, this guy will send one now at 3.25% and $1500 in closings, but I am watching and if I can snag a 3.125% and $1500 then I want better to match it, and beat the fees by $1000, so I need a formal GFE for betters review right?

The aim guy was dumb because I'm not paying an appraisal fee just to get a locked rate and a GFE.

Also, this Mutual of Omaha guy said fees and terms were better on 199K instead of the 201K I first asked for, so have to pay about $1000 to drop the principle, no problem. I would have thought a larger amount would be more favorable since the lender makes more net interest dollars on a higher principle.
Apr 13, 2020
1,960 Posts
Joined Nov 2007
Apr 13, 2020
Rhizzlebop
Apr 13, 2020
1,960 Posts
meant to also note, that all in all, even now at 3.25%, with a 1/8th buydown for $1400 on a 199K loan gets me to $approx $3000 in total closing costs and pts. If better will match that 3.125% and beat the $3000 by a 1K and get $2500 from amex, thats about a winner I think as it nets me $500 in hand, and a 3.125% 25yr that I can pay like its a 20 yr, and cut 5.5 yrs off y current mortgage and actually save about $25 a month from what I pay now.
Apr 13, 2020
2,294 Posts
Joined Jul 2007
Apr 13, 2020
Fragster
Apr 13, 2020
2,294 Posts
Just spoke to a realtor friend seeing this deal. He said they are expecting interest drop around June/July this year anyways.
Apr 13, 2020
185 Posts
Joined Nov 2009
Apr 13, 2020
alexdare
Apr 13, 2020
185 Posts
Quote from slickdealz :
First of all, i hope everyone is healthy.
Just found out about this post.
i do have amex cards but no offer
i want to refinance current rate is 4.35 loan amount will be around 315000
can someone walk me thru the process
i would really appreciate it
Thank you so much!
god bless.
Step 1: Decide what kind of loan you want (30yr fixed? 15yr fixed?)
Step 2: Apply to better mortgage through the link in first page of thread if you have a valid amex for this offer. Read thread if not sure if you have a valid Amex.
Step 3: Apply to lots of other mortgage companies, you will get a metric ton of phone calls from loan officers, answer them, they will offer attractive rates. Ask to see the rate quote emailed to you so you can compare it. Some used in this thread are: sofi, quicken loans...I used a rate from amerisave. You have 14 days to do this without additionally impacting your credit score.
Step 4: Ask better to match and lock the rate that most fits what you're looking for, confirming it will still get the Amex credit.

For each step, if you don't know how to do it, there are a ton of posts in this thread with more detail.
Apr 14, 2020
3,686 Posts
Joined Jul 2012
Apr 14, 2020
MilesHunter
Apr 14, 2020
3,686 Posts
Quote from Fragster :
Just spoke to a realtor friend seeing this deal. He said they are expecting interest drop around June/July this year anyways.
Im closing at 3.125% on 30 year loan no cost... How could it drop lower?

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Apr 14, 2020
16 Posts
Joined Dec 2009
Apr 14, 2020
joeramirez
Apr 14, 2020
16 Posts
I locked last Tuesday on 3% for 30 years. I have to pay .371% in points. Lender fi quoted me .77% and Better beat it by $1000 like others have experienced. So far I am very happy with my experience and the loan is currently with underwriting and appraisal is this week.
Apr 14, 2020
1,847 Posts
Joined Jun 2007
Apr 14, 2020
just1guy
Apr 14, 2020
1,847 Posts
FYI way back I got a 30 year loan … after 3 years I sold the house … after $600 a month for 3 years I barely paid off any of my loan ( even the guy at the bank was surprised how little was paid off ) .… lesson learned … my second mortgage was for 15 years ...the way the 30 year mortgages are structured is that you pay off mostly interest in the first years and very little of the balance
Apr 14, 2020
1,970 Posts
Joined Aug 2010
Apr 14, 2020
Debit2Cash
Apr 14, 2020
1,970 Posts
I'm at 2.875% on a 15 year and $400 in points. Total after points and title costs are $1300. I'm basically getting paid $1200 to refi...how is this even real? LOL.

Part of why the closing costs are low is because I got an appraisal waiver.
Last edited by Debit2Cash April 13, 2020 at 10:09 PM.
Apr 14, 2020
1,681 Posts
Joined Jan 2010
Apr 14, 2020
daon
Apr 14, 2020
1,681 Posts
Quote from just1guy :
FYI way back I got a 30 year loan … after 3 years I sold the house … after $600 a month for 3 years I barely paid off any of my loan ( even the guy at the bank was surprised how little was paid off ) .… lesson learned … my second mortgage was for 15 years ...the way the 30 year mortgages are structured is that you pay off mostly interest in the first years and very little of the balance

that's the structure of literally every long-term loan, including your 15y
Apr 14, 2020
559 Posts
Joined May 2011
Apr 14, 2020
NewBandName
Apr 14, 2020
559 Posts
Quote from just1guy :
FYI way back I got a 30 year loan … after 3 years I sold the house … after $600 a month for 3 years I barely paid off any of my loan ( even the guy at the bank was surprised how little was paid off ) .… lesson learned … my second mortgage was for 15 years ...the way the 30 year mortgages are structured is that you pay off mostly interest in the first years and very little of the balance
you know you don't have to wait 30 years to pay off a 30 year loan...
Apr 14, 2020
1,970 Posts
Joined Aug 2010
Apr 14, 2020
Debit2Cash
Apr 14, 2020
1,970 Posts
Quote from daon :
that's the structure of literally every long-term loan, including your 15y
On a 15 year it's closer to a 50/50 split to start.
Apr 14, 2020
1,847 Posts
Joined Jun 2007
Apr 14, 2020
just1guy
Apr 14, 2020
1,847 Posts
it's not a matter of waiting ... if I only have to pay $600 a month then I can afford other things like a new car or a trip ... on a 15 year loan you have no choice but to pay more every month and buy less ....

Quote from by4x5 :
you know you don't have to wait 30 years to pay off a 30 year loan...

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Apr 14, 2020
3,204 Posts
Joined Feb 2004
Apr 14, 2020
mnsweeps
Apr 14, 2020
3,204 Posts
The after effects of C19 would hit hard in June/July. Expect rates to go down further. No harm in waiting.
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