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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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May 2, 2020 1:25 AM
2.2K Comments
Joined Jun 2009
firefox15May 2, 2020 1:25 AM
2.2K Comments
Quote from ask_j View quoted comment :
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 4:45 PM
2K Comments
Joined Nov 2007
RhizzlebopMay 2, 2020 4:45 PM
2K Comments
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 4:54 PM
1K Comments
Joined Mar 2019
CycloneFWMay 2, 2020 4:54 PM
1K Comments
Quote from Rhizzlebop View quoted comment :
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 5:04 PM
34 Comments
Joined Nov 2014
freebies1005May 2, 2020 5:04 PM
34 Comments
Quote from CycloneFW View quoted comment :
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 8:16 PM
1K Comments
Joined Mar 2019
CycloneFWMay 2, 2020 8:16 PM
1K Comments
Quote from parth.champaneri View quoted comment :
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 8:22 PM
867 Comments
Joined Aug 2006
SmellyCatMay 2, 2020 8:22 PM
867 Comments
Quote from CycloneFW View quoted comment :
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 8:42 PM
1K Comments
Joined Mar 2019
CycloneFWMay 2, 2020 8:42 PM
1K Comments
Quote from SmellyCat View quoted comment :
or he's part of the "good book"
What is the "good book"?

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May 2, 2020 8:45 PM
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Joined Nov 2010
youra6May 2, 2020 8:45 PM
10.9K Comments
Quote from firefox15 View quoted comment :
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.
May 2, 2020 9:07 PM
6.7K Comments
Joined Dec 2010
blukingMay 2, 2020 9:07 PM
6.7K Comments
Quote from firefox15 View quoted comment :
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 9:07 PM
522 Comments
Joined Oct 2007
euuser257843May 2, 2020 9:07 PM
522 Comments
Quote from youra6 View quoted comment :
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 9:19 PM
10.4K Comments
Joined Dec 2006
Switching2GeicoMay 2, 2020 9:19 PM
10.4K Comments
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 1:52 PM
2.2K Comments
Joined Jun 2009
firefox15May 4, 2020 1:52 PM
2.2K Comments
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 1:59 PM
81 Comments
Joined Nov 2004
FugaziMay 4, 2020 1:59 PM
81 Comments
Quote from firefox15 View quoted comment :

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 2:00 PM
2.2K Comments
Joined Jun 2009
firefox15May 4, 2020 2:00 PM
2.2K Comments
Quote from Fugazi View quoted comment :
A few days before closing.
Thank you,

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May 4, 2020 3:04 PM
356 Comments
Joined May 2005
KrustyVTMay 4, 2020 3:04 PM
356 Comments
Quote from Switching2Geico View quoted comment :
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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