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expired Posted by Greenworld123 • Dec 8, 2019
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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.
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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May 2, 2020
2,215 Posts
Joined Jun 2009
May 2, 2020
firefox15
May 2, 2020
2,215 Posts
Quote from ask_j :
I refinanced my mortgage using better.com and I had this offer, didn't get $2500. Called Amex and they didn't do anything. Don't know where to go!! It has been ~4 months since my mortgage was closed
Did you give them your CC number? That should have been part of the process.
May 2, 2020
1,960 Posts
Joined Nov 2007
May 2, 2020
Rhizzlebop
May 2, 2020
1,960 Posts
Had my closing this morning out on the porch. Nice guy. Smooth. Took an hour.

I saw in the paperwork it looks the The Money Source is buying it. Anyone know anything about them? Decent website with access to statements escrows etc? I've never dealt with them. Had Mr Cooper till now and they were fine.
May 2, 2020
1,005 Posts
Joined Mar 2019
May 2, 2020
CycloneFW
May 2, 2020
1,005 Posts
Quote from Rhizzlebop :
Had my closing this morning out on the porch. Nice guy. Smooth. Took an hour.

I saw in the paperwork it looks the The Money Source is buying it. Anyone know anything about them? Decent website with access to statements escrows etc? I've never dealt with them. Had Mr Cooper till now and they were fine.
The Money Source, per Better's FAQ, is the vendor they use servicing only until they sell your loan and transfer servicing. It is unlikely TMS would be your servicer beyond the first two payments, if even that long.

https://better.com/faq/loan-servi...er-closing
May 2, 2020
34 Posts
Joined Nov 2014
May 2, 2020
freebies1005
May 2, 2020
34 Posts
Quote from CycloneFW :
The Money Source, per Better's FAQ, is the vendor they use servicing only until they sell your loan and transfer servicing. It is unlikely TMS would be your servicer beyond the first two payments, if even that long.

https://better.com/faq/loan-servi...er-closing
My loan was sold to Fannie Mae but TMS will stay as the servicer going forward.
May 2, 2020
1,005 Posts
Joined Mar 2019
May 2, 2020
CycloneFW
May 2, 2020
1,005 Posts
Quote from parth.champaneri :
My loan was sold to Fannie Mae but TMS will stay as the servicer going forward.
Interesting. I would imagine Better is having trouble selling servicing of loans they originate like LenderFi has been experiencing. I guess if they already have a setup with TMS, they might as well leverage it. Thanks for the info!
May 2, 2020
866 Posts
Joined Aug 2006
May 2, 2020
SmellyCat
May 2, 2020
866 Posts
Quote from CycloneFW :
Interesting. I would imagine Better is having trouble selling servicing of loans they originate like LenderFi has been experiencing. I guess if they already have a setup with TMS, they might as well leverage it. Thanks for the info!
or he's part of the "good book"
May 2, 2020
1,005 Posts
Joined Mar 2019
May 2, 2020
CycloneFW
May 2, 2020
1,005 Posts
Quote from SmellyCat :
or he's part of the "good book"
What is the "good book"?

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May 2, 2020
10,724 Posts
Joined Nov 2010
May 2, 2020
youra6
May 2, 2020
10,724 Posts
Quote from firefox15 :
Better isn't able to meet or beat my other LEs. It isn't even close. I know I've posted about this before, but they just don't match up well when you have a small loan amount. I sent them a 15 year with zero points at 2.375%, and they countered with 2.5% with over 2 points. It's annoying because when you factor in the $2,500 credit, both of them are very similar, but I'm definitely not getting the killer deals others are getting here.
Regardless, a 2.5 or a 2.375 interest rate is a ridiculous deal. Most people are not getting anywhere near that rate.
Pro
May 2, 2020
6,739 Posts
Joined Dec 2010
May 2, 2020
bluking
Pro
May 2, 2020
6,739 Posts
Quote from firefox15 :
Better isn't able to meet or beat my other LEs. It isn't even close. I know I've posted about this before, but they just don't match up well when you have a small loan amount. I sent them a 15 year with zero points at 2.375%, and they countered with 2.5% with over 2 points. It's annoying because when you factor in the $2,500 credit, both of them are very similar, but I'm definitely not getting the killer deals others are getting here.
not very surprised, there is no guarantee that they will beat every rate provided. 2.375 is already an excellent rate as-is, the margin for profit is probably very slim
May 2, 2020
522 Posts
Joined Oct 2007
May 2, 2020
euuser257843
May 2, 2020
522 Posts
Quote from youra6 :
Regardless, a 2.5 or a 2.375 interest rate is a ridiculous deal. Most people are not getting anywhere near that rate.
Bingo.. I don't know what is the killer deal he is referring to... What were the best rates/ killer deals at Better?

3% - no costs for 30yrs
2.5% - no costs fort 15yrs...
Last edited by Fiunk May 2, 2020 at 02:08 PM.
May 2, 2020
10,362 Posts
Joined Dec 2006
May 2, 2020
Switching2Geico
May 2, 2020
10,362 Posts
i would appreciate some help.

im in california with a jumbo loan. i owe 560K. im 4 years into a 30 year fixed mortgage at 3.25% apr.

i am looking at a refi at 15 year. id consider 2.75% APR no points/no fees.

i have been keeping tabs this week. aim loan seemed to be 2.9 but i couldnt find better.

i would like to take advantage of this deal if possible but it has to make sense as i have a good rate currently.
May 4, 2020
2,215 Posts
Joined Jun 2009
May 4, 2020
firefox15
May 4, 2020
2,215 Posts
Went ahead and locked with Better this morning for a 15-year at 2.75% for a no-cost refinance after AmEx credit. Factoring in both their statement credit and their $1,000 guarantee on the offers they couldn't beat, their initial offer of 2.5% was pretty close to the LEs from other lenders. However, I am betting it will be easier to get the $2,500 statement credit than it would be to get a free $1,000 from them, so I went with Better.

Since the market is so volatile right now, and since I'm not sure how long we are going to live here, I bumped it up 0.25% to get a no-cost refinance. The break even was somewhere in the five year mark, so for me, the no cost option makes sense. If rates go lower, I'll do this song and dance again.

I know it has been covered before, but when does the task appear in the portal to upload your AmEx information? I thought it would appear after the lock, but does it only appear after underwriting is done?
May 4, 2020
81 Posts
Joined Nov 2004
May 4, 2020
Fugazi
May 4, 2020
81 Posts
Quote from firefox15 :

I know it has been covered before, but when does the task appear in the portal to upload your AmEx information? I thought it would appear after the lock, but does it only appear after underwriting is done?
A few days before closing.
May 4, 2020
2,215 Posts
Joined Jun 2009
May 4, 2020
firefox15
May 4, 2020
2,215 Posts
Quote from Fugazi :
A few days before closing.
Thank you,

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May 4, 2020
351 Posts
Joined May 2005
May 4, 2020
KrustyVT
May 4, 2020
351 Posts
Quote from Switching2Geico :
i would appreciate some help.

im in california with a jumbo loan. i owe 560K. im 4 years into a 30 year fixed mortgage at 3.25% apr.

i am looking at a refi at 15 year. id consider 2.75% APR no points/no fees.

i have been keeping tabs this week. aim loan seemed to be 2.9 but i couldnt find better.

i would like to take advantage of this deal if possible but it has to make sense as i have a good rate currently.
I posted this earlier in this thread - you can refi right now at owning.com [owning.com] for those exact terms - 2.75% with $0 closing costs for a 15 year $560k loan. I refi'ed with them in December and can vouch for them and their process - it's extremely quick and easy.

Note for anyone else reading - this is only for properties in CA.

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