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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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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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9.8K Comments

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Jun 7, 2020 12:57 PM
24 Comments
Joined Aug 2017
5117Jun 7, 2020 12:57 PM
24 Comments
Quote from YuvrajSingh View quoted comment :
1500 credit ? U mean in LE section A is +ve 1500 or all costs including prepaid is 1500?s
Not sure what ve is.

1500/2500 is the lender credit on the loan estimate. This doesnt include title and filing fees or the amex credit.

Including everything (but ignoring prepaids, which are very low since I am not escrowing), it ends up being 3200 credit for the refinance.
Jun 7, 2020 1:22 PM
7.7K Comments
Joined Sep 2008
DogAndPonyJun 7, 2020 1:22 PM
7.7K Comments
Quote from Rhizzlebop View quoted comment :
Closed on May 2nd 200k 30yr 3.25 approx $1100 credit. Haven't gotten my Amex money yet but thinking it should be soon. Not sure if rates are better now or not. I have prob locked myself out of any good chase CC offers for the next year or so based on their 5/24 rule. I'd like to ensure I get my 2500 before I apply to refi again.
THe 5/24 rule doesn't apply to mortgages. Only credit cards.
Jun 7, 2020 3:15 PM
249 Comments
Joined Jan 2011
hifrom7Jun 7, 2020 3:15 PM
249 Comments
Quote from ultratumba View quoted comment :
Got 2.5% 15 Yr with $2200 in lender credits, $1100 cash back to me, and no points just now. Suggest people keep shopping.
Quote from ultratumba View quoted comment :
Used Owning, and then Better countered with the cash back.
Ohh Owing is only for CA. Is there anything like owning for rest of us.
Jun 7, 2020 3:17 PM
11.3K Comments
Joined Mar 2011
gibsonbassJun 7, 2020 3:17 PM
11.3K Comments
Is it true that owning does not refinance loan less than $300k?
Jun 7, 2020 3:28 PM
395 Comments
Joined Apr 2016
physio1213Jun 7, 2020 3:28 PM
395 Comments
Quote from 5117 View quoted comment :
My options on 500k loan were :
  • 30yr - 2.75% w/ 2500 lender credit (+ Amex)
  • 15yr - 2.25% w/ 1500 lender credit (+ Amex)
The 15 year was tempting, but I'm going with the 30yr. My rates over the last 18 months have gone like this:
  • 5.875% -> 4.25% -> 3.625% -> 3.25% -> 2.75%
Somethings telling me this will be my last refinance for this loan.
Wow. Insane pricing on 15 years. Did you find another bank with initial quote and and better beat that price ???? or better showed these rate directly??
Jun 7, 2020 3:36 PM
63 Comments
Joined Jul 2008
elsaballJun 7, 2020 3:36 PM
63 Comments
Submitted a match request and they matched.
Jun 7, 2020 7:14 PM
24 Comments
Joined Apr 2014
jlawzyJun 7, 2020 7:14 PM
24 Comments
I locked in with better.com on Wednesday. 30yr, 3.0%. 3600 in closing costs but 4800 in lender credit + 2500 amex credit. The initial estimate from better.com showed something like 4k costs in points at 3.0% but they matched and beat LenderFi bringing it from 4k in points to a 4800 lender credit. Pretty good deal. Throw the 2500 amex credit on top and it's even better.

loan balance 380k currently in year 4 at 3.75. brings monthly down by around 500 a month, 100 of that from dropping pmi.
Last edited by jlawzy June 7, 2020 at 12:16 PM.

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Jun 7, 2020 7:26 PM
72 Comments
Joined Dec 2007
kescoJun 7, 2020 7:26 PM
72 Comments
Quote from walled View quoted comment :
That's awesome! Did you use a bank to match? If so, which?
Broker in NC .. but one affiliated with UWM.
Jun 7, 2020 7:36 PM
11 Comments
Joined Jun 2013
SreeGJun 7, 2020 7:36 PM
11 Comments
Quote from kesco View quoted comment :
Broker in NC .. but one affiliated with UWM.
Can you PM the contact details of the broker? Thank you.
Jun 7, 2020 7:39 PM
4.8K Comments
Joined Sep 2008
karaziJun 7, 2020 7:39 PM
4.8K Comments
Quote from DogAndPony View quoted comment :
Rates are on their way back up. Better lock soon, folks.
Not for long lol.
Jun 7, 2020 7:52 PM
7.7K Comments
Joined Sep 2008
DogAndPonyJun 7, 2020 7:52 PM
7.7K Comments
Quote from karazi View quoted comment :
Not for long lol.
Source?
Jun 8, 2020 12:49 AM
4.8K Comments
Joined Sep 2008
karaziJun 8, 2020 12:49 AM
4.8K Comments
Quote from DogAndPony View quoted comment :
Source?

Just my opinion, nobody truly knows what will happen with interest rates in the future, but it is a good bet that they will keep going down as they have been since the 70s.
Jun 8, 2020 4:28 AM
707 Comments
Joined Dec 2013
duastoJun 8, 2020 4:28 AM
707 Comments
Quote from jlawzy View quoted comment :
I locked in with better.com on Wednesday. 30yr, 3.0%. 3600 in closing costs but 4800 in lender credit + 2500 amex credit. The initial estimate from better.com showed something like 4k costs in points at 3.0% but they matched and beat LenderFi bringing it from 4k in points to a 4800 lender credit. Pretty good deal. Throw the 2500 amex credit on top and it's even better.

loan balance 380k currently in year 4 at 3.75. brings monthly down by around 500 a month, 100 of that from dropping pmi.
Good deal but i doubt your monthly will go down around $500. If your basing that with better estimated monthly with insurance and tax escrow. Then dont trust that.

Even taking out pmi there is no way your monthly will go down that low unless your getting close to 2% rate or your pay a significant of your principal.
Jun 8, 2020 5:16 AM
72 Comments
Joined Nov 2017
SsyossJun 8, 2020 5:16 AM
72 Comments
Did anyone shop around for the items you can shop for? Can anyone share what you found and the prices please?

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Jun 8, 2020 1:58 PM
607 Comments
Joined Dec 2013
cdancer20Jun 8, 2020 1:58 PM
607 Comments
Quote from jlawzy View quoted comment :
I locked in with better.com on Wednesday. 30yr, 3.0%. 3600 in closing costs but 4800 in lender credit + 2500 amex credit. The initial estimate from better.com showed something like 4k costs in points at 3.0% but they matched and beat LenderFi bringing it from 4k in points to a 4800 lender credit. Pretty good deal. Throw the 2500 amex credit on top and it's even better.

loan balance 380k currently in year 4 at 3.75. brings monthly down by around 500 a month, 100 of that from dropping pmi.
Quote from duasto View quoted comment :
Good deal but i doubt your monthly will go down around $500. If your basing that with better estimated monthly with insurance and tax escrow. Then dont trust that.

Even taking out pmi there is no way your monthly will go down that low unless your getting close to 2% rate or your pay a significant of your principal.
That $500 possibly includes that he/she is starting over at 30 years after paying 4 years already. It's possible that that rates can drop that much. I'm going from a 4.25 to 3.25 and my monthly mortgage is going down $500/month including removing PMI and adding extra money to pay off at the same time as before. I'm only about 20 mons in though and my rate was higher. Also my monthly insurance and tax that better estimated are the exact same as what I was paying before so I'm not sure why you think Better would be wrong. Oops, I forgot that I paid down my loan to remove the PMI. Maybe the OP did that too.
Last edited by cdancer20 June 8, 2020 at 07:36 AM.

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