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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 12, 2020 2:21 PM
478 Comments
Joined Apr 2015
kevinguo09Jun 12, 2020 2:21 PM
478 Comments
Rate for me is 3% for condo.
Jun 12, 2020 2:37 PM
509 Comments
Joined Feb 2012
Mikey122687Jun 12, 2020 2:37 PM
509 Comments
Quote from JetBlast View quoted comment :
What term? Does the $9,271 include all your prepaids?
No, prepaids is another $3331

30 years fixed
Jun 12, 2020 2:37 PM
438 Comments
Joined Jun 2004
FFPlayerVIIIJun 12, 2020 2:37 PM
438 Comments
Quote from DogAndPony View quoted comment :
Rates haven't moved that much in the last thirty days though, have they? What website are you checking this on?
One of their reps told me they follow the following avg

https://fred.stlouisfed.org/series/MORTGAGE30US
1
Jun 12, 2020 2:48 PM
1.9K Comments
Joined Feb 2006
indymaleJun 12, 2020 2:48 PM
1.9K Comments
Quote from Mikey122687 View quoted comment :
No, prepaids is another $3331

30 years fixed
I think that is expensive, given the current deals people have got so far.
Jun 12, 2020 3:22 PM
41.6K Comments
Joined Apr 2006
SDRebelJun 12, 2020 3:22 PM
41.6K Comments
Quote from swine View quoted comment :
I tried before (since I officially got the AMEX $2500 offer for Rocket) and their rate sucks. When I asked for no point no fee refinance, they put all the cost into the loan and told me it was a no point no fee loan....
Yeah, i hate when they try to pull that crap
Jun 12, 2020 3:22 PM
41.6K Comments
Joined Apr 2006
SDRebelJun 12, 2020 3:22 PM
41.6K Comments
Quote from PhantasmX View quoted comment :
So Better said there's nothing they do about the need to add escrow to investment property, property taxes and home insurance, to loan. This is for the life of the loan. I told the agent I haven't been doing that with BofA. Adding escrow would defeat my purpose of refinancing as my interest is more cash readily on hand instead of paying more than my currently mortgage now after refinancing. If it's a million dollar property, I can understand but current outstanding principle is less than $150k remaining.
Usually they can remove escrow after a year
Jun 12, 2020 3:26 PM
41.6K Comments
Joined Apr 2006
SDRebelJun 12, 2020 3:26 PM
41.6K Comments
Quote from techoin View quoted comment :
well better is advertising 30 year fixed at 2.75 today morning on zillow..seems another drop
From what i saw in the news this morning, yes, it should be lowest rates today

https://www.cnbc.com/amp/2020/06/...fears.html

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Jun 12, 2020 3:29 PM
6.5K Comments
Joined Jun 2005
PhantasmXJun 12, 2020 3:29 PM
6.5K Comments
Quote from SDRebel View quoted comment :
Usually they can remove escrow after a year
I want it in writing from Better or remove it completely. It's bs and like my property is under "impound" status.
Jun 12, 2020 3:31 PM
45 Comments
Joined Mar 2015
SK0204Jun 12, 2020 3:31 PM
45 Comments
Quote from Mikey122687 View quoted comment :
Got an offer

2.75% - The total cost to do the refi is $9271 - $5906 (lender credit) = $3,365

Going to see if better can price match.

Is 2.75% a good deal for $3365?
If better beats by 1000, it will be 2365. With 2500 AMEX credit , it will be zero cost loan. Or you can go with littel higher rate like 2.875 to cover for the closing cost.
Jun 12, 2020 3:42 PM
25 Comments
Joined Dec 2013
AndyP7344Jun 12, 2020 3:42 PM
25 Comments
I am pre-approved for a good rate (2.75% 20yr with 1.45pts) at rocket mortgage, but they want a $500 deposit to proceed with application and have an official Loan Estimate. Is there a way to get better.com to match this without putting a deposit down at Rocket?
Jun 12, 2020 3:46 PM
7.7K Comments
Joined Sep 2008
DogAndPonyJun 12, 2020 3:46 PM
7.7K Comments
Quote from FFPlayerVIII View quoted comment :
One of their reps told me they follow the following avg

https://fred.stlouisfed.org/series/MORTGAGE30US
Thanks. I locked on May 27th so essentially as low as the rate has been
Jun 12, 2020 4:14 PM
60 Comments
Joined May 2020
arleylJun 12, 2020 4:14 PM
60 Comments
Quote from AndyP7344 View quoted comment :
I am pre-approved for a good rate (2.75% 20yr with 1.45pts) at rocket mortgage, but they want a $500 deposit to proceed with application and have an official Loan Estimate. Is there a way to get better.com to match this without putting a deposit down at Rocket?
Get a different lender. You may have to apply, but not require a deposit. I hear a lot about Lenderfi, Owning (if you are in CA), or a a UWM broker from list below.

https://findamortgagebroker.com/h...-homebuyer
Jun 12, 2020 4:17 PM
56 Comments
Joined Dec 2016
endeavor432Jun 12, 2020 4:17 PM
56 Comments
Lenderfi and Owning are not licensed in NY. Any other competitive lenders in NY for the purpose of getting LE for Better.com?
Jun 12, 2020 4:19 PM
1.3K Comments
Joined Oct 2007
NailerJun 12, 2020 4:19 PM
1.3K Comments
quick question : I just got the appraisal report for my property and I was expecting a value between 420k-430k, but appraisal value came back at 395k; should I send better comps back to appraiser and ask for higher value or it doesn't matter and I should just accept and continue?

note : my LTV even at 395k is 70%, so better has no problem continuing.

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Jun 12, 2020 4:24 PM
83 Comments
Joined Nov 2014
AdamM8293Jun 12, 2020 4:24 PM
83 Comments
Quote from DogAndPony View quoted comment :
Thanks. I locked on May 27th so essentially as low as the rate has been
This is the weekly average rate that they use for tracking to determine whether they'll float you down at no-cost. This isn't what they'd use to actually price you, since rates change constantly. I also locked right around when you did and rates have been lower the last couple of days than they were then (almost 1/8 pt.) I would definitely go ahead and look for a competing offer that you can present to Better.

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