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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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Jun 1, 2020
3,275 Posts
Joined Feb 2014
Jun 1, 2020
iuku
Jun 1, 2020
3,275 Posts
Quote from flyersrule :
my previous dealings with them I was incredible and very efficient / fast. keep in mind however that I had all my documentation in order and uploaded extremely quickly when they needed it.
Agree, have to be on top of the tasks. As long as you takes care of it. It flows smoothly.
Jun 1, 2020
606 Posts
Joined Dec 2013
Jun 1, 2020
cdancer20
Jun 1, 2020
606 Posts
Quote from thefudd :
I tried to refi with better.com last year. I ended up cancelling and eating my appraisal fee. They were horrible at communication. I would ask a question and wouldn't get a reply for weeks on end. I would never do business with them again.
Look up my past posts on this thread. They are STILL horrible. I've FINALLY learned that you need to call them daily and talk to someone to get things done.
Jun 1, 2020
606 Posts
Joined Dec 2013
Jun 1, 2020
cdancer20
Jun 1, 2020
606 Posts
Quote from flyersrule :
my previous dealings with them I was incredible and very efficient / fast. keep in mind however that I had all my documentation in order and uploaded extremely quickly when they needed it.
Quote from iuku :
Agree, have to be on top of the tasks. As long as you takes care of it. It flows smoothly.
I was on top of all of my tasks. Uploaded documents same day, usually within an hour or two of them showing up. Still have had a horrible experience. I'm coming up on 6 weeks since I locked rate. I will say that it must depend on the agent. Emails go unanswered and I get told that they are waiting on documentation that they obviously already had.
Jun 1, 2020
3,204 Posts
Joined Feb 2004
Jun 1, 2020
mnsweeps
Jun 1, 2020
3,204 Posts
Quote from cdancer20 :
I was on top of all of my tasks. Uploaded documents same day, usually within an hour or two of them showing up. Still have had a horrible experience. I'm coming up on 6 weeks since I locked rate. I will say that it must depend on the agent. Emails go unanswered and I get told that they are waiting on documentation that they obviously already had.
have to agree.. better.com seems horrible in communications.. Owning is awesome for me in CA.
Jun 1, 2020
788 Posts
Joined Mar 2008
Jun 1, 2020
cvrefugee
Jun 1, 2020
788 Posts
Quote from mnsweeps :
have to agree.. better.com seems horrible in communications.. Owning is awesome for me in CA.
Owning is great if your loan balance is greater than $300K. This needs to be a disclaimer anytime someone brings them up. Huge limitation.
Jun 1, 2020
3,204 Posts
Joined Feb 2004
Jun 1, 2020
mnsweeps
Jun 1, 2020
3,204 Posts
Quote from cvrefugee :
Owning is great if your loan balance is greater than $300K. This needs to be a disclaimer anytime someone brings them up. Huge limitation.
mine is $309k so thats good.
Jun 1, 2020
41,442 Posts
Joined Apr 2006
Jun 1, 2020
SDRebel
Jun 1, 2020
41,442 Posts
Quote from schumi25 :
Locked my rate 15yr fixed @2.5% with zero points and $1347 lender credit. Appraisal was really fast within 2 days of lock. With AMEX credit for Appraisal and 2.5K cashback will end up making 3K Smilie

Prior mortgage was 7 ARM @3.75%
nice. they gave you that deal without match or you had them match someone?

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Jun 1, 2020
1,524 Posts
Joined Mar 2005
Jun 1, 2020
jrlcopy
Jun 1, 2020
1,524 Posts
Loan closed on Friday! The day before the loan closed I got a task to add in my amex number.

Started this process on 4/27, finally closed on 5/29.

Would have been done earlier but my closing was originally set on a holiday and Better wasn't able to do it sooner. Better though, legit reached out 5 hours before signing and asked for another tax return. lol.

Really appreciate this thread and all the great advice in it. First time buyer, so learned a ton!
Jun 1, 2020
1,005 Posts
Joined Mar 2019
Jun 1, 2020
CycloneFW
Jun 1, 2020
1,005 Posts
What I've told other people is that if you are familiar with what a refi entails, are ok micromanaging your loan processing, and comfortable using various contact methodologies to get the folks at Better to work your file, you can get a great deal with Better.

If you don't meet the above qualifications or wish to have someone "just handle it", you may have a miserable experience at Better.

Given I have to do the former in my day job (different field), I used the same principles of keeping people on task and got a great deal. But it does require work on my part and I wouldn't fault someone for paying extra $$$ for a more turnkey process. That just isn't Better.
Jun 1, 2020
606 Posts
Joined Dec 2013
Jun 1, 2020
cdancer20
Jun 1, 2020
606 Posts
Quote from CycloneFW :
What I've told other people is that if you are familiar with what a refi entails, are ok micromanaging your loan processing, and comfortable using various contact methodologies to get the folks at Better to work your file, you can get a great deal with Better.

If you don't meet the above qualifications or wish to have someone "just handle it", you may have a miserable experience at Better.

Given I have to do the former in my day job (different field), I used the same principles of keeping people on task and got a great deal. But it does require work on my part and I wouldn't fault someone for paying extra $$$ for a more turnkey process. That just isn't Better.
But as a consumer, we shouldn't have to keep someone on task to do their job or hold their hand through the process. However, now that I know this, I'm doing what I need to to get through this refi. It's just frustrating to customers that don't know.
Jun 1, 2020
1,412 Posts
Joined Jan 2020
Jun 1, 2020
SiennaDeer8270
Jun 1, 2020
1,412 Posts
Quote from cvrefugee :
Owning is great if your loan balance is greater than $300K. This needs to be a disclaimer anytime someone brings them up. Huge limitation.
Huge limitation? Who in CA has a loan less than 300k? Did you buy 30 years ago? If so, how do you still have a mortgage?
Jun 1, 2020
66 Posts
Joined Dec 2007
Jun 1, 2020
jerseyben
Jun 1, 2020
66 Posts
Quote from CycloneFW :
What I've told other people is that if you are familiar with what a refi entails, are ok micromanaging your loan processing, and comfortable using various contact methodologies to get the folks at Better to work your file, you can get a great deal with Better.

If you don't meet the above qualifications or wish to have someone "just handle it", you may have a miserable experience at Better.

Given I have to do the former in my day job (different field), I used the same principles of keeping people on task and got a great deal. But it does require work on my part and I wouldn't fault someone for paying extra $$$ for a more turnkey process. That just isn't Better.
You really nailed it with this reply.
Jun 1, 2020
1,005 Posts
Joined Mar 2019
Jun 1, 2020
CycloneFW
Jun 1, 2020
1,005 Posts
Quote from cdancer20 :
But as a consumer, we shouldn't have to keep someone on task to do their job or hold their hand through the process. However, now that I know this, I'm doing what I need to to get through this refi. It's just frustrating to customers that don't know.
You aren't wrong. But that's where typically it is "vote with your feet" and then use someone that has their act together. They have value if you are willing to basically be your own broker even though you shouldn't need to be.

If I could get an offer like Better gives elsewhere that requires less micromanaging, I would take it. For me, that would have meant $1,300 for a worse rate or $3,000 for the same rate. I was willing to put in the effort needed for that.

However, I also knew this going in. My local broker said:
Quote from Local Broker :
Better mortgage is a rate table lender, so you should expect to process your own loan with little support. But they are very competitive just like us. The AMEX thing is new and I can't compete with that. You're getting a great deal. If the process becomes too hard we are always here to make it easy for you.
Last edited by CycloneFW June 1, 2020 at 10:05 AM.
Jun 1, 2020
3,204 Posts
Joined Feb 2004
Jun 1, 2020
mnsweeps
Jun 1, 2020
3,204 Posts
do I have to lock better.com rate before I ask them to match a different loan company LE?

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Jun 1, 2020
606 Posts
Joined Dec 2013
Jun 1, 2020
cdancer20
Jun 1, 2020
606 Posts
Quote from CycloneFW :
You aren't wrong. But that's where typically it is "vote with your feet" and then use someone that has their act together. They have value if you are willing to basically be your own broker even though you shouldn't need to be.

If I could get an offer like Better gives elsewhere that requires less micromanaging, I would take it. For me, that would have meant $1,300 for a worse rate or $3,000 for the same rate. I was willing to put in the effort needed for that.

However, I also knew this going in. My local broker said:
I totally understand all of this and wish that I knew. This deal though is too good to pass by. If it wasn't for the $2500, I would have walked away too. Note that I am planning to check the rates again in a month just in case I can refi again LOL. Just I will be smarter on the process.

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