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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 23, 2020
22 Posts
Joined Apr 2019
May 23, 2020
Ahosanna
May 23, 2020
22 Posts
Quote from flyersrule :
Where have you guys found to be the cheapest rate/costs in Texas
I'm in Dallas area; I've checked everyone from Lendingtree, Loansnap, LoanDepot, and Sofi...also did my local credit union (RBFCU) and Costco. The only one I didn't try was Lenderfi.
Best I got (this was 2 weeks ago) was 2.75% fixed for 15 year and 3.25% fixed for 30 year, this is with minimal (maybe $1k) out of pocket after lender credits.
May 23, 2020
1,404 Posts
Joined Aug 2009
May 23, 2020
EasyEz
May 23, 2020
1,404 Posts
Quote from Ahosanna :
I'm in Dallas area; I've checked everyone from Lendingtree, Loansnap, LoanDepot, and Sofi...also did my local credit union (RBFCU) and Costco. The only one I didn't try was Lenderfi.
Best I got (this was 2 weeks ago) was 2.75% fixed for 15 year and 3.25% fixed for 30 year, this is with minimal (maybe $1k) out of pocket after lender credits.
Same area, exact same experience.
May 23, 2020
32 Posts
Joined Aug 2011
May 23, 2020
gr_b
May 23, 2020
32 Posts
Quote from Wreflect :
I received my refund for the appraisal fee the same day I put in my AMEX info into the Better.com task. Signed my closing papers today. My closing costs actually ended up returning me money... I would have gone for a better interest rate had I known the closing costs would be so low, but initially they appeared quite high.
When you initially locked the rate, you were locking all the different rates for that day. You could have switched to another lower rate that you locked by asking your closing expert.
May 23, 2020
1,005 Posts
Joined Mar 2019
May 23, 2020
CycloneFW
May 23, 2020
1,005 Posts
Quote from gr_b :
When you initially locked the rate, you were locking all the different rates for that day. You could have switched to another lower rate that you locked by asking your closing expert.
Agreed, though while you could ask your closing expert, it is your loan officer/concierge that is the one making the change. It has to be done by someone licensed in your state. However, the closing expert would happily forward the request over. This is exactly what happened in my case. I emailed the closing expert the option I want and the loan officer emailed back confirming the switch.
May 23, 2020
32 Posts
Joined Aug 2011
May 23, 2020
gr_b
May 23, 2020
32 Posts
Quote from CycloneFW :
Agreed, though while you could ask your closing expert, it is your loan officer/concierge that is the one making the change. It has to be done by someone licensed in your state. However, the closing expert would happily forward the request over. This is exactly what happened in my case. I emailed the closing expert the option I want and the loan officer emailed back confirming the switch.
yes, correct in my case also. I asked closing expert and it got forwarded to loan officer
May 23, 2020
358 Posts
Joined Mar 2014
May 23, 2020
Wreflect
May 23, 2020
358 Posts
Quote from gr_b :
When you initially locked the rate, you were locking all the different rates for that day. You could have switched to another lower rate that you locked by asking your closing expert.
Dang. It was very far into the process when the closing cost figures changed drastically. Initially it would have cost me about $1300, then a few days ago it changed to me actually getting $500 back because of lender credits. So I guess I can think of it as getting $3000 with the AMEX credit! I overpay every month anyway, still happy enough with 3.5%. Roll Eyes (Sarcastic)
May 23, 2020
1,005 Posts
Joined Mar 2019
May 23, 2020
CycloneFW
May 23, 2020
1,005 Posts
Quote from Wreflect :
Dang. It was very far into the process when the closing cost figures changed drastically. Initially it would have cost me about $1300, then a few days ago it changed to me actually getting $500 back because of lender credits. So I guess I can think of it as getting $3000 with the AMEX credit! I overpay every month anyway, still happy enough with 3.5%.
For everyone else, just note that you can change your loan program (30-year vs. 15-year vs. ARM, etc.) and points options up until closing. However, if you do it after you get the initial closing disclosure, they have to generate a new one and that restarts the 3-day clock before you are permitted to close. Not a problem, but it could push back your closing a day or so.

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May 23, 2020
403 Posts
Joined May 2009
May 23, 2020
DL_
May 23, 2020
403 Posts
What kind of rates are you guys seeing for rentals?
May 24, 2020
415 Posts
Joined Dec 2005
May 24, 2020
Methodman
May 24, 2020
415 Posts
Wanted to bounce this off some of you experts to make sure I'm not misreading or misunderstanding. So, I initially had a 3.375% offer from Owning with $1459 lender credit. Better beat that and locked my rate in at 3.375% and gave me a lender credit of $2445. I'm now in the closing phase with Better and I just submitted a new loan estimate from Owning at 3.125% with $1459 lender credit and asked Better if they could beat it. Well, the loan consultant never got back to me, but I saw that my locked rate on the website went from 3.375% to 3.125%. No new loan estimate was generated. I just got my closing disclosure documents and I see these changes:
Interest Rate is changed from 3.375% to 3.125%.
Lender Credits are changed from $2,456 to $7.00.
Recording Fee is changed from $328 to $382.


Furthermore, it now shows that $1,619.77 in closing costs are financed thru the loan. Looks like they basically matched the rate but just about took away all the lender credits and now I'm financing my closing costs? Those of you who got Better to match a second time, did they match the rates and the lender credits again?
Last edited by Methodman May 23, 2020 at 06:27 PM.
May 24, 2020
857 Posts
Joined Dec 2009
May 24, 2020
lodit
May 24, 2020
857 Posts
Quote from cobjones :
That's not true if you have the money to pay it off.
Quote from jcrash :
Huh? My house appreciates at 1-3%, my stocks appreciate at several times that. I will keep my money in stocks
Quote from sowhatwegetdrunk :
Well, obviously, you can only pay off if you have the money ������. Even then, he is saying you should invest and not pay off. Its not easy for everyone. Doesnt apply to all
My house has appreciated an average of ~5% in my area over the last few years.
Only reason I want to pay off the house is to remove all debt, and then indulge in gambling what I can afford to lose.

I agree that the right move for most is to keep a mortgage going with a rate several factors lower than their investments. Probably helps to keep credit score high as well.

Unfortunately, I can only pick Super Bowl winners for $50 pools. Stocks are a different ball game.

Thanks for the advice, much appreciated for the responses!

Gonna try to score an even lower rate this week and lock it in!
May 24, 2020
1,005 Posts
Joined Mar 2019
May 24, 2020
CycloneFW
May 24, 2020
1,005 Posts
Quote from Methodman :
Wanted to bounce this off some of you experts to make sure I'm not misreading or misunderstanding. So, I initially had a 3.375% offer from Owning with $1459 lender credit. Better beat that and locked my rate in at 3.375% and gave me a lender credit of $2445. I'm now in the closing phase with Better and I just submitted a new loan estimate from Owning at 3.125% with $1459 lender credit and asked Better if they could beat it. Well, the loan consultant never got back to me, but I saw that my locked rate on the website went from 3.375% to 3.125%. No new loan estimate was generated. I just got my closing disclosure documents and I see these changes:
Interest Rate is changed from 3.375% to 3.125%.
Lender Credits are changed from $2,456 to $7.00.
Recording Fee is changed from $328 to $382.


Furthermore, it now shows that $1,619.77 in closing costs are financed thru the loan. Looks like they basically matched the rate but just about took away all the lender credits and now I'm financing my closing costs? Those of you who got Better to match a second time, did they match the rates and the lender credits again?
Ask your loan officer to send you your rate table and see what it says for points/lender credits for 3.375%. But it sounds like they may not have actually changed their offer, only selected a different rate table option.

The recording fee is probably because of new research by the settlement agent. Unrelated to the new offer you submitted.
May 24, 2020
62 Posts
Joined Sep 2007
May 24, 2020
strifez
May 24, 2020
62 Posts
Has anyone here been paid $1000 from Better for not being able to beat out a competitor according to their best price guarantee.

I submitted my paperwork a few weeks back and wasn't sure how long it would take.
May 24, 2020
384 Posts
Joined Apr 2016
May 24, 2020
physio1213
May 24, 2020
384 Posts
Quote from mrwhitewalker :
Applied with both Better.com and Lender Fi and im seeing some crazy high costs for 30 Yr, 3.0% or 3.125% in rates. Located in Oregon.

Better.com
  • 3.0% - $6200
  • 3.125% - $5050
Lenderfi
  • 3.0% - $4039
  • 3.125% - $2757
Credit Scores 780+

Thoughts?
Find a rural bank or credit union advertising lowest rates. I found one on bankrate.com. You can try Zillow also. I found one with 2.5 % for zero points for 15 yrs and 3.125 % with zero points for 30 yrs. Closing cost was around 2000. Took the worksheet to better.com and they matched the interest rates and beat the closing cost.
Pro
May 24, 2020
3,891 Posts
Joined Jun 2016
May 24, 2020
Logan_71
Pro
May 24, 2020
3,891 Posts
Quote from jrlcopy :
It's how you save that cash. I called 5 insurance companies for home insurance, which took 40 mins each quote/call, legit the last one I called Progressive, was $400 cheaper than everyone else, double the property value, and included Flood insurance for free.

Home buying is like dealing with 1000 used car salesman. :/
Maybe I'm understanding this incorrectly, but I was under the impression you could only get Flood insurance through FEMA.

No direct experience, since I'm not in a flood prone area, but this is what I've read in the past. Not trying to debate you, just checking to see if you're getting the truth from Progressive.

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May 24, 2020
2,128 Posts
Joined Jul 2008
May 24, 2020
flyersrule
May 24, 2020
2,128 Posts
Quote from Logan_71 :
Maybe I'm understanding this incorrectly, but I was under the impression you could only get Flood insurance through FEMA.

No direct experience, since I'm not in a flood prone area, but this is what I've read in the past. Not trying to debate you, just checking to see if you're getting the truth from Progressive.
You can only get flood through FEMA. Third party company that handles and the max is $250 k/100k

Some companies provide supplemental insurance over them limits but you might have to have this at the baseline first

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