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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 19, 2020
606 Posts
Joined Dec 2013
May 19, 2020
cdancer20
May 19, 2020
606 Posts
Quote from monsterjunkie :
Correct. Any banks or lenders have put a freeze of lines of credit. I've called multiple and they all say they've been put on hold. If I put my address into better it gives a message about how certain required third party services (appraisals etc) are unable to function. Such a pain. This all happened as I was just preparing to refinance out of An FHA loan I took out when I first purchased this home.
Oh that's not good. Hopefully they open up for you before the rates go back up.
May 19, 2020
60 Posts
Joined May 2020
May 19, 2020
arleyl
May 19, 2020
60 Posts
Not sure what to do anymore. Owning counter Better's counter of 30yr 3% ($1400 credit) with 2.875% 30 yr without closing costs. Owning comes out ahead over the life of the loan by $4,300 even after the Amex $2,500 credit. It would take 13 years until the break even point where I would then come out saving. Damn. Now I am stuck, but leaning towards the immediate cash now.
May 19, 2020
62 Posts
Joined Dec 2010
May 19, 2020
psmoove
May 19, 2020
62 Posts
Quote from arleyl :
Not sure what to do anymore. Owning counter Better's counter of 30yr 3% ($1400 credit) with 2.875% 30 yr without closing costs. Owning comes out ahead over the life of the loan by $4,300 even after the Amex $2,500 credit. It would take 13 years until the break even point where I would then come out saving. Damn. Now I am stuck, but leaning towards the immediate cash now.
Why can't you take the Owning's counter back to Better? If Better matches, you get the best of both worlds - the 2.875% and the $2,500. If Better rejects, then they owe you $1,000 according to their policy, and you still win with the 2.875%, 0 closing costs.
May 19, 2020
60 Posts
Joined May 2020
May 19, 2020
arleyl
May 19, 2020
60 Posts
Quote from psmoove :
Why can't you take the Owning's counter back to Better? If Better matches, you get the best of both worlds - the 2.875% and the $2,500. If Better rejects, then they owe you $1,000 according to their policy, and you still win with the 2.875%, 0 closing costs.
What are the chances Better give me a second counter? They already countered once and I locked rate at 3%. Is the $1,000 policy a one time deal? I would need a new LE from Owning.
May 19, 2020
2,128 Posts
Joined Jul 2008
May 19, 2020
flyersrule
May 19, 2020
2,128 Posts
How do you get this offer if it doesn't show up on Blue Everywhere personal card?
May 19, 2020
7,484 Posts
Joined Sep 2008
May 19, 2020
DogAndPony
May 19, 2020
7,484 Posts
Quote from flyersrule :
How do you get this offer if it doesn't show up on Blue Everywhere personal card?
I think you can just go through the link. That's what I did and when I spoke to someone at Better they confirmed I was eligible for the credit.
May 19, 2020
2,128 Posts
Joined Jul 2008
May 19, 2020
flyersrule
May 19, 2020
2,128 Posts
Quote from arleyl :
Not sure what to do anymore. Owning counter Better's counter of 30yr 3% ($1400 credit) with 2.875% 30 yr without closing costs. Owning comes out ahead over the life of the loan by $4,300 even after the Amex $2,500 credit. It would take 13 years until the break even point where I would then come out saving. Damn. Now I am stuck, but leaning towards the immediate cash now.
On no closing cost deals I still think there are closing costs aren't they such as title insurance, recording fees ETC.

they just get rolled in the loan so essentially you might end up paying 2.9 or 3% APR

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May 19, 2020
606 Posts
Joined Dec 2013
May 19, 2020
cdancer20
May 19, 2020
606 Posts
Quote from nycdpj :
Oh, one more thing I was made to realize. Better matches rates, but won't beat it by $1000 if you've already locked the rate. That's still good as you are protected from market fluctuations, and can get a good rate if market goes down. I'm happy so far!
So you were able to do another rate match after you locked in your rate and before closing?
May 19, 2020
1,005 Posts
Joined Mar 2019
May 19, 2020
CycloneFW
May 19, 2020
1,005 Posts
Quote from flyersrule :
On no closing cost deals I still think there are closing costs aren't they such as title insurance, recording fees ETC.

they just get rolled in the loan so essentially you might end up paying 2.9 or 3% APR
With Owning, only recording fees and prepaid are charged. They pay for the title costs. The rate and APR match per their FAQ.


https://www.owning.com/disclosure...osingCosts
Quote :
No Closing Costs

Are available on rate/term and limited cash out refinance transactions only. Owning will pay the following third party closing costs on behalf of the Borrower: appraisal fees, credit report fees, flood certification fees, escrow/closing fees, signing fees, title insurance fees (lenders policy and endorsements). The Borrower is responsible for paying: prepaid interest, property taxes, state mortgage/transfer taxes, all types of insurance, existing lender payoff fees, survey fees, inspection fees and discount points (if Borrower chooses to pay discount points to buy down the interest rate). Minimum loan amount is $200,000.
May 19, 2020
2,128 Posts
Joined Jul 2008
May 19, 2020
flyersrule
May 19, 2020
2,128 Posts
Quote from CycloneFW :
With Owning, only recording fees and prepaid are charged. They pay for the title costs. The rate and APR match per their FAQ.


https://www.owning.com/disclosure...osingCosts
Cool. I just know some places off her new closing cost rates but the APR comes out to being higher than the surface rate.

Did you go through the application process to get the 2.875%?
May 19, 2020
606 Posts
Joined Dec 2013
May 19, 2020
cdancer20
May 19, 2020
606 Posts
Quote from flyersrule :
On no closing cost deals I still think there are closing costs aren't they such as title insurance, recording fees ETC.

they just get rolled in the loan so essentially you might end up paying 2.9 or 3% APR
That depends on if you have a lender's credit or not. The credit might be enough to offset the closing costs and thus equates to "no closing costs". That's what's pretty much happening for my loan. I'm only paying the prepaid escrow and interest.
May 19, 2020
2,128 Posts
Joined Jul 2008
May 19, 2020
flyersrule
May 19, 2020
2,128 Posts
Quote from DogAndPony :
I think you can just go through the link. That's what I did and when I spoke to someone at Better they confirmed I was eligible for the credit.
Do I need to contact Amex and a better before or do I just sign up for the link and get an email that confirms me
Pro
May 19, 2020
6,739 Posts
Joined Dec 2010
May 19, 2020
bluking
Pro
May 19, 2020
6,739 Posts
Loan was just funded. Rate was 2.75% 15yr fixed. Zero points. $700 total closing costs (excl prepaids) plus will receive the $2500 amex credit. Below is my timeline

Apr 29 - Rate Lock
Apr 29 - received email that appraisal was waived
Apr 30 - sent for underwriting
May 1 - Conditionally approved
May 5 - Ready for closing email received
May 8 - Closing disclosure accepted
May 13 - Closing docs signed at home
May 18 - Funded
May 19 - Payoff confirmation received from curent lender

All in all a very smooth process given the current conditions. Thanks again OP!
May 19, 2020
2,128 Posts
Joined Jul 2008
May 19, 2020
flyersrule
May 19, 2020
2,128 Posts
Quote from bluking :
Loan was just funded. Rate was 2.75% 15yr fixed. Zero points. $700 total closing costs (excl prepaids) plus will receive the $2500 amex credit. Below is my timeline

Apr 29 - Rate Lock
Apr 29 - received email that appraisal was waived
Apr 30 - sent for underwriting
May 1 - Conditionally approved
May 5 - Ready for closing email received
May 8 - Closing disclosure accepted
May 13 - Closing docs signed at home
May 18 - Funded
May 19 - Payoff confirmation received from curent lender

All in all a very smooth process given the current conditions. Thanks again OP!
Did you use the link on the main page or actually have the offer on your card?

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Pro
May 19, 2020
6,739 Posts
Joined Dec 2010
May 19, 2020
bluking
Pro
May 19, 2020
6,739 Posts
Quote from flyersrule :
Did you use the link on the main page or actually have the offer on your card?
just used the link, but made sure from two different agents that my card qualifies. they just asked for the last 5 digits and the type of card for verification. Of course as you come closer to the end there is a specific task that asks for the same info. HTH

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