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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.
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 13, 2020
452 Posts
Joined Feb 2008
May 13, 2020
nycdpj
May 13, 2020
452 Posts
Quote from ShrewdCrib315 :
Closed on my loan April 9th and received my credit today, back dated to April 20th for some reason. I just paid off my card Monday so almost the entirety of the credit is sitting as a negative balance right now. Anybody know if I can go to an atm and cash advance that money out?
Just chat with Amex and request them to issue a check
May 13, 2020
1,005 Posts
Joined Mar 2019
May 13, 2020
CycloneFW
May 13, 2020
1,005 Posts
Quote from ShrewdCrib315 :
Closed on my loan April 9th and received my credit today, back dated to April 20th for some reason. I just paid off my card Monday so almost the entirety of the credit is sitting as a negative balance right now. Anybody know if I can go to an atm and cash advance that money out?
Follow nycdpj's advice. If you use the ATM, you will pay cash advance fees to get the money. If you call or do it online under Account Services, you get a check or an ACH quickly.
May 13, 2020
1,005 Posts
Joined Mar 2019
May 13, 2020
CycloneFW
May 13, 2020
1,005 Posts
Quote from compper :
Anyone have any suggestions on where to get a competing offer from for a 20 year loan in FL?

Sofi has good rates but they don't offer 20 year loans (say they will in about a month or so).

I've tried Loan Depot, Sebonic (decent but not the best), Amerisave, Costco (referred to Mutual of Ohama which did a bait/switch with the rates - don't deal with Luis Lowe).

Thanks
If the rates are competitive, I would get a 30 year and pay it off on a 20 year schedule. You may find that the rates are no different for a 20 year at some lenders.
May 13, 2020
182 Posts
Joined Aug 2006
May 13, 2020
Cliq
May 13, 2020
182 Posts
Quote from compper :
Anyone have any suggestions on where to get a competing offer from for a 20 year loan in FL?

Sofi has good rates but they don't offer 20 year loans (say they will in about a month or so).

I've tried Loan Depot, Sebonic (decent but not the best), Amerisave, Costco (referred to Mutual of Ohama which did a bait/switch with the rates - don't deal with Luis Lowe).

Thanks
I usually just check zillow every 4-6 hours. They pull up lots of rates from different lenders. I used https://www.nbkc.com/ to get a good rate to match with Better.com
May 13, 2020
707 Posts
Joined Dec 2013
May 13, 2020
duasto
May 13, 2020
707 Posts
So after your all done ... Does better.com overview page shows that your done? My loan got funded yesterday and in "Where you're at" still show im in "Final Closing".

Should I atleast send Thank You email to my agents?
May 13, 2020
552 Posts
Joined Nov 2008
May 13, 2020
compper
May 13, 2020
552 Posts
Quote from CycloneFW :
If the rates are competitive, I would get a 30 year and pay it off on a 20 year schedule. You may find that the rates are no different for a 20 year at some lenders.
Thanks - I was thinking about this option also. Only reason it would make sense to go with a 20 year loan instead is if the rate for the 20 year is lower than the 30 year, right?

Quote from Cliq :
I usually just check zillow every 4-6 hours. They pull up lots of rates from different lenders. I used https://www.nbkc.com/ to get a good rate to match with Better.com
Thanks for the tip. Do the lenders/offer change that often to check every 4-6 hours? Attached are the rates I'm currently getting on Zillow for my situation
May 13, 2020
3 Posts
Joined Mar 2019
May 13, 2020
MatthewN9
May 13, 2020
3 Posts
Here's some info for those interested. Refinance Closed April 9, statement credit received may 13, 2.875% 15 yr, $770 credit after having better.com beat another LE by $1000. Not targeted but applied through amex link. No appraisal was done (they accepted my estimated value). 80% Ltv. Notary came to the house. Loan was sold to Fannie mae, serviced by Mr. Cooper. First payment is June 1. Is eligible for covid related forbearance (not all will be, better.com doesn't always sell to Fannie mae, but I believe they usually end up doing so.) Good luck to all.

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May 13, 2020
1,005 Posts
Joined Mar 2019
May 13, 2020
CycloneFW
May 13, 2020
1,005 Posts
Quote from compper :
Thanks - I was thinking about this option also. Only reason it would make sense to go with a 20 year loan instead is if the rate for the 20 year is lower than the 30 year, right?



Thanks for the tip. Do the lenders/offer change that often to check every 4-6 hours? Attached are the rates I'm currently getting on Zillow for my situation
Correct. If rates and costs are the same, there is no reason to get the 20 year. The 30 year gives you the flexibility of lower payments, but you can just overpay with the same payment amount as what a 20 year would have been. You'll end up paying exactly the same in interest.

Note, this also assumes a loan with no prepayment penalty. However, if you doing competitively shopping, you credit must be good enough that you would never have a loan with a prepayment penalty. Better.com for instance doesn't even offer loans with them.
May 13, 2020
182 Posts
Joined Aug 2006
May 13, 2020
Cliq
May 13, 2020
182 Posts
Quote from compper :
Thanks - I was thinking about this option also. Only reason it would make sense to go with a 20 year loan instead is if the rate for the 20 year is lower than the 30 year, right?



Thanks for the tip. Do the lenders/offer change that often to check every 4-6 hours? Attached are the rates I'm currently getting on Zillow for my situation
Yes, rates change throughout the day. NKBC/SEBONIC has costco promotions...Ask them. You can easily chat with them and they both send quotes over emails quick... (so you can price match to Better.com) I like the two companies above because they don't hassle you if you don't choose them. Unlike Quicken Loans, they have someone calling you everyday for a week.
May 13, 2020
606 Posts
Joined Dec 2013
May 13, 2020
cdancer20
May 13, 2020
606 Posts
Quote from compper :
Anyone have any suggestions on where to get a competing offer from for a 20 year loan in FL?

Sofi has good rates but they don't offer 20 year loans (say they will in about a month or so).

I've tried Loan Depot, Sebonic (decent but not the best), Amerisave, Costco (referred to Mutual of Ohama which did a bait/switch with the rates - don't deal with Luis Lowe).

Thanks
My most competitive rate came through LenderFi. You must put in an application though to get those rates. They didn't show up with the online tool. Wyndham Capital and Finance of America also had great rates.
May 13, 2020
606 Posts
Joined Dec 2013
May 13, 2020
cdancer20
May 13, 2020
606 Posts
Quote from ShrewdCrib315 :
Closed on my loan April 9th and received my credit today, back dated to April 20th for some reason. I just paid off my card Monday so almost the entirety of the credit is sitting as a negative balance right now. Anybody know if I can go to an atm and cash advance that money out?
Quote from nycdpj :
Just chat with Amex and request them to issue a check
No need to chat with Amex. Log into your Amex account. Go to Account Services. Inquiry & Disputes. Open a Payment Dispute. There is an option for "I have a credit on my account". You can then chose to transfer to a different card with a balance or get a check. I've done both options in the past.
May 13, 2020
552 Posts
Joined Nov 2008
May 13, 2020
compper
May 13, 2020
552 Posts
Quote from CycloneFW :
Correct. If rates and costs are the same, there is no reason to get the 20 year. The 30 year gives you the flexibility of lower payments, but you can just overpay with the same payment amount as what a 20 year would have been. You'll end up paying exactly the same in interest.

Note, this also assumes a loan with no prepayment penalty. However, if you doing competitively shopping, you credit must be good enough that you would never have a loan with a prepayment penalty. Better.com for instance doesn't even offer loans with them.
Makes sense. No prepayment worries here thankfully - scores are all 800~. Thanks again.

Quote from Cliq :
Yes, rates change throughout the day. NKBC/SEBONIC has costco promotions...Ask them. You can easily chat with them and they both send quotes over emails quick... (so you can price match to Better.com) I like the two companies above because they don't hassle you if you don't choose them. Unlike Quicken Loans, they have someone calling you everyday for a week.
Awesome - working with both of them as we speak!

Quote from cdancer20 :
My most competitive rate came through LenderFi. You must put in an application though to get those rates. They didn't show up with the online tool. Wyndham Capital and Finance of America also had great rates.
Thanks - I just checked out LenderFi but their rates seem pretty crappy (see attached). You got better rates once you actually applied? Mind sharing your example?
May 13, 2020
606 Posts
Joined Dec 2013
May 13, 2020
cdancer20
May 13, 2020
606 Posts
Quote from compper :
Thanks - I just checked out LenderFi but their rates seem pretty crappy (see attached). You got better rates once you actually applied? Mind sharing your example?
Yes rates were much better after applying. I don't think online even showed a credit at the rate I wanted. My final LE match came from LenderFi. The LenderFi guy told me that the rates showing online were incorrect. I ended up with 3.25% with no points and over $4000 in credit. In the end, Better could only match and not beat. This is with excellent credit and loan amount between $350k-$400k
Last edited by cdancer20 May 13, 2020 at 12:12 PM.
May 13, 2020
66 Posts
Joined Dec 2007
May 13, 2020
jerseyben
May 13, 2020
66 Posts
Quote from MatthewN9 :
Here's some info for those interested. Refinance Closed April 9, statement credit received may 13, 2.875% 15 yr, $770 credit after having better.com beat another LE by $1000. Not targeted but applied through amex link. No appraisal was done (they accepted my estimated value). 80% Ltv. Notary came to the house. Loan was sold to Fannie mae, serviced by Mr. Cooper. First payment is June 1. Is eligible for covid related forbearance (not all will be, better.com doesn't always sell to Fannie mae, but I believe they usually end up doing so.) Good luck to all.
Your experience is nearly identical to mine. Just set up Autopay with Mr. Cooper yesterday. Still have not received my $2500 credit though!

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May 13, 2020
2,021 Posts
Joined Feb 2008
May 13, 2020
stm69
May 13, 2020
2,021 Posts
Hi All,

Closing the loop here with some dates/data points. Credit posted!

Applied 2/27, price matched Lenderfi 2/28, conditionally approved 3/3, Closed 3/21, funded 3/26, loan transfered to TMS and then sold to FM/TMS, $2500 credit 5/12.

Borrowed around $400K 30 year, 3.125% with ~$2K lender credit before fees, excellent credit and LTV.
Last edited by stm69 May 13, 2020 at 12:58 PM.

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