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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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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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May 20, 2020 5:23 PM
438 Comments
Joined Jun 2004
FFPlayerVIIIMay 20, 2020 5:23 PM
438 Comments
after pitting Better up against Provident and Sofi, the best offer is 2.75% with $503 in points. Closing costs is $2800. 204k loan 15yr in Houston, Texas.
May 20, 2020 5:29 PM
1.3K Comments
Joined May 2007
ncsgsydnMay 20, 2020 5:29 PM
1.3K Comments
Quote from FFPlayerVIII View quoted comment :
you only pay the lender that you end up going with
Thanks for confirming. I am still very worried about receiving bills from those lenders I didn't use.
May 20, 2020 5:40 PM
607 Comments
Joined Dec 2013
cdancer20May 20, 2020 5:40 PM
607 Comments
Quote from FFPlayerVIII View quoted comment :
after pitting Better up against Provident and Sofi, the best offer is 2.75% with $503 in points. Closing costs is $2800. 204k loan 15yr in Houston, Texas.
Did you try Lenderfi and Costco mortgage? That's where my two highest came from . Sofi was ridiculously high.
May 20, 2020 5:46 PM
438 Comments
Joined Jun 2004
FFPlayerVIIIMay 20, 2020 5:46 PM
438 Comments
Quote from cdancer20 View quoted comment :
Did you try Lenderfi and Costco mortgage? That's where my two highest came from . Sofi was ridiculously high.
Didn't mention but I'm refinancing, I previously closed this past november at 3.125%. I did Costco mortgage but they just said it's not worth it. Provident actually gave me the best rate, better matched it less 1k. The amex credit makes it a no brainer for me.
May 20, 2020 5:53 PM
607 Comments
Joined Dec 2013
cdancer20May 20, 2020 5:53 PM
607 Comments
Quote from FFPlayerVIII View quoted comment :
Didn't mention but I'm refinancing, I previously closed this past november at 3.125%. I did Costco mortgage but they just said it's not worth it. Provident actually gave me the best rate, better matched it less 1k. The amex credit makes it a no brainer for me.
It didn't matter that you are refinancing. I only mentioned LenderFi from personal experience. They had the best rates for my refinance and others on this thread. Better wasn't able to beat them by $1000 but they did match and of course the Amex deal.
May 20, 2020 6:04 PM
438 Comments
Joined Jun 2004
FFPlayerVIIIMay 20, 2020 6:04 PM
438 Comments
Quote from cdancer20 View quoted comment :
It didn't matter that you are refinancing. I only mentioned LenderFi from personal experience. They had the best rates for my refinance and others on this thread. Better wasn't able to beat them by $1000 but they did match and of course the Amex deal.
I didn't try lenderFi but just ran a quick rate check and very similar
May 20, 2020 6:09 PM
1K Comments
Joined Mar 2019
CycloneFWMay 20, 2020 6:09 PM
1K Comments
Quote from iuku View quoted comment :
On Closing Disclosure, they have date from when better will charge interest. Meaning that is when your loan will be paid off. That will give you number of days you need to use for interest calc.
Use below calc (or similar) to get an idea of interest payment from last payment.

https://www.aie.org/resources/too...rest-loan/

Add that to your remaining principal $.
If CD is way off then this number ask your closing agent to update it.
Just a note that, if paid by wire, it is typically the next business day after the Disbursement Date that the payoff goes out, not the same day. If by check, the same, the check goes out the next day.

Not to say it can't be same day, but most settlement firms want the funds to "settle" in their bank account overnight before wiring the funds out vs. depending on the intra-day credit when the funds first come into them.

This is all to say that most of the time, you pay interest on both loans for one business day (the disbursement date).

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May 20, 2020 6:12 PM
1K Comments
Joined Mar 2019
CycloneFWMay 20, 2020 6:12 PM
1K Comments
Quote from duasto View quoted comment :
So better got confused?
...
When I made a payment on May 1st, They told me 2 days before signing the closing documents that they won't be able to get the new Payoff amount but I wanted to have the new amount they need to move the closing date. So I didn't option for that because I really want to finish this.
This is the answer to your discrepancy. They explicitly didn't account for your May 1st payment in the payoff calcs, which would result in an overpayment of roughly your monthly payment as the payoff also included the accrued interest for April that your May 1st payment covered.
May 20, 2020 6:14 PM
1K Comments
Joined Mar 2019
CycloneFWMay 20, 2020 6:14 PM
1K Comments
Quote from leemaverickly View quoted comment :
I have a question. When shopping for rates and applying with multiple lenders and going through credit hard pull and everything, do we have to pay credit check and various other fees to all lenders that we didn't end up using? Thanks a lot.
They are not legally permitted to charge you anything until you do an "intent to proceed" after you get your Loan Estimate. Even then, usually the credit fees are not charged as they aren't for pulling your credit, but paying an outside vendor to monitor your credit for changes from the intent to proceed to closing.
May 20, 2020 6:20 PM
1.3K Comments
Joined May 2007
ncsgsydnMay 20, 2020 6:20 PM
1.3K Comments
Quote from CycloneFW View quoted comment :
They are not legally permitted to charge you anything until you do an "intent to proceed" after you get your Loan Estimate. Even then, usually the credit fees are not charged as they aren't for pulling your credit, but paying an outside vendor to monitor your credit for changes from the intent to proceed to closing.
This is what I am worried about. There was a lender that asked us to esign the initial disclosure because it was required so they can update the initial loan estimate with an updated rate. So we just looked at those esign pages and saw the intend to proceed one Frown
May 20, 2020 6:25 PM
1K Comments
Joined Mar 2019
CycloneFWMay 20, 2020 6:25 PM
1K Comments
Quote from leemaverickly View quoted comment :
This is what I am worried about. There was a lender that asked us to esign the initial disclosure because it was required so they can update the initial loan estimate with an updated rate. So we just looked at those esign pages and saw the intend to proceed one Frown
The esign disclosure itself is not submitting the intent to proceed. It just means you could then electronically sign the intent to proceed that was presented with the esign disclosure. Some lenders send the whole thing up front, others send the esign separately. Either way, doing the esign disclosure does not equal doing an intent to proceed.
May 20, 2020 7:56 PM
35 Comments
Joined Mar 2006
puffpastryMay 20, 2020 7:56 PM
35 Comments
does any one have title company in CA who have reasonable title insurance fee/settlement cost? Better is charging on my 600,000 refinance loan (section C : 1230 $680+$550). Competing lender's estimate was total of 800 ($375+$425) but not sure which title company they used.

Thank you
May 20, 2020 8:02 PM
12.1K Comments
Joined Oct 2008
RUsum1May 20, 2020 8:02 PM
12.1K Comments
Still hoping someone will reply to my quote who has the documents needed to file for the $1,000 Better price match guarantee. Zachary from Better is giving me some garbage about I don't qualify because the last form I sent to him which he said they couldn't match is not a LOAN ESTIMATE. Even though in his first email response he tells me "Happy to work on beating their offer. Do you have an itemized fee sheet or official loan estimate like the one in your account?" And even though other sheets that were labeled Closing Cost Worksheet (I also provided some that were labeled Loan Estimate) were able to be matched without issue. When it gets to the point where the competitor has a better offer that he said he can't match (let alone beat by another $1,000) he just says he can't match it any further. He is refusing to provide the documents to me

Quote from duasto View quoted comment :
I got funded last week and called my old lender today ....

So regarding the Total Payoff Amount .... I know that Payoff Amount is always higher than your mortgage principal that you see on your mortgage statements

but I was surprised to know when I called my old lender that better.com overpaid my Payoff amount by 3k+ .... Why this is too high?

My old monthly mortgage is around 3.2k and I still made the payment on May 1st that better.com told me that they won't be able to get the new total payoff amount if I wanted to close that week.

Anyone experienced the same thing? I know I'm gonna receive a check from my old lender with the (escrow balance + 3k overpaid) but I rather keep that 3k.
My lender kept trying to over-fund my loan as well. I think they're trying to get more financed really. I consistently told them I want my loan to only be the payoff amount and for some reason they kept interpreting that as "I want to gain money during closing" as if I'm trying to take equity out of my house. I finally got them to fix it though.

Quote from puffpastry View quoted comment :
does any one have title company in CA who have reasonable title insurance fee/settlement cost? Better is charging on my 600,000 refinance loan (section C : 1230 $680+$550). Competing lender's estimate was total of 800 ($375+$425) but not sure which title company they used.

Thank you
From what they tell me, those title costs on the estimates are completely made up. They don't have an actual figure on hand until you tell them what title company to use.
Last edited by RUsum1 May 20, 2020 at 01:08 PM.
May 20, 2020 8:51 PM
3.4K Comments
Joined Nov 2013
mrwhitewalkerMay 20, 2020 8:51 PM
3.4K Comments
What happens to current escrow for taxes, insurance and PMI during a refinance?

My Escrow is like $4K right now. Do you get it back from the escrow company?

Sorry first time Refi.

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May 20, 2020 8:53 PM
218 Comments
Joined Sep 2004
statepktMay 20, 2020 8:53 PM
218 Comments
Quote from mrwhitewalker View quoted comment :
What happens to current escrow for taxes, insurance and PMI during a refinance?

My Escrow is like $4K right now. Do you get it back from the escrow company?

Sorry first time Refi.
Yes you get that back once the current loan is paid in full.

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