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expired Posted by Greenworld123 • Dec 8, 2019
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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 13, 2020
1,476 Posts
Joined Oct 2006
Jun 13, 2020
avatar13
Jun 13, 2020
1,476 Posts
Ditto I just locked with better yesterday 3% 20 years about $2750 closing before Amex $2500 credits, 43% LTV and 800+ credit. Haven't been able to get good LE so far that beats Better, Lenderfi would only near match but not beat and there's no credit to make up the $2500. Will need to close in Texas as well.
Jun 13, 2020
45 Posts
Joined Apr 2020
Jun 13, 2020
MrDioji
Jun 13, 2020
45 Posts
Quote from endeavor432 :
Lenderfi and Owning are not licensed in NY. Any other competitive lenders in NY for the purpose of getting LE for Better.com?
Try Aimloan. They give you an LE without a hard pull. Better just beat them by $1,000 for me today. Better's original estimate for cashout 20-yr at 3% was ~$6k total Loan cost (not prepaids, escrow, etc). They beat Aimloan to bring it to ~$1k. So I'll be making money with the refi after the $2500 Amex SC.
Jun 13, 2020
274 Posts
Joined Nov 2006
Jun 13, 2020
cyno
Jun 13, 2020
274 Posts
Quote from lodit :
Just a DP to share:

$210k, 2.5% , 15-year, $1000 closing costs (A+B+C), waived prepaids/escrow (pay on our own).

Better said they could only match it, not beat it.

Unfortunately, the rate was locked to get an LE from the lender.

I suppose the $2500 from AMEX makes it a $1500 MM, but I'm reading others getting $1000 credits plus the $2500 AMEX after the fact.

Should I try another company and send it back to Better for reconsideration?

Or am I stuck because I locked with Better already?

Thanks for all the datapoints, this has been a great learning experience!
could you please share the lender that gave you 2.5 with 1000 closing .I am looking for one so I can take it to better to beat/match.
Jun 13, 2020
90 Posts
Joined Jun 2011
Jun 13, 2020
zzrayzz
Jun 13, 2020
90 Posts
Quote from MagentaCreature315 :
Try Aimloan. They give you an LE without a hard pull. Better just beat them by $1,000 for me today. Better's original estimate for cashout 20-yr at 3% was ~$6k total Loan cost (not prepaids, escrow, etc). They beat Aimloan to bring it to ~$1k. So I'll be making money with the refi after the $2500 Amex SC.
Aimloan looks good to monitor rates (for NY) to compare vs better
Jun 13, 2020
41,453 Posts
Joined Apr 2006
Jun 13, 2020
SDRebel
Jun 13, 2020
41,453 Posts
Quote from PhantasmX :
I want it in writing from Better or remove it completely. It's bs and like my property is under "impound" status.
I got my LE from better today and no escrow. Not sure how many people got escrow vs no escrow
Jun 13, 2020
41,453 Posts
Joined Apr 2006
Jun 13, 2020
SDRebel
Jun 13, 2020
41,453 Posts
Quote from Mikey122687 :
Yes, you will
I'm no accountant, but since it's a statement credit, I don't think you would have to report it, but I didn't read the full terms.
E.g. I'm assuming like any other rewards from any CC
Jun 13, 2020
41,453 Posts
Joined Apr 2006
Jun 13, 2020
SDRebel
Jun 13, 2020
41,453 Posts
Quote from AdamM8293 :
The float down policy is based on https://fred.stlouisfed.org/series/MORTGAGE30US. It would be based on the published rate being .25% less that the rate posted after you locked, which in this case is 3.15%. So if the rate that publishes each Thursday gets to 2.9%, you could inquire about them floating you down 1/8 pt.

This is different than simply presenting them with a competing offer and having them match/beat after you lock, which they will try to do according to my loan guy. I believe that deals have improved over the past couple of days and you could hopefully find a competing offer for them to beat/match.
Not the person who asked, but thanks for the good explanation.

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Jun 13, 2020
41,453 Posts
Joined Apr 2006
Jun 13, 2020
SDRebel
Jun 13, 2020
41,453 Posts
Quote from gb2bg :
Is the $2500 going to be taxable later on next yr?
I'm going with no unless someone presents evidence of the contrary
Jun 13, 2020
41,453 Posts
Joined Apr 2006
Jun 13, 2020
SDRebel
Jun 13, 2020
41,453 Posts
Quote from sleekwallet :
Got 2.75% +4,200 credit on a 30 years with better.com, no price match needed.

Thanks OP!

I hope the amex rebate works too
Woah that's crazy good. You went to better.com/amex or somewhere else?
Jun 13, 2020
10,362 Posts
Joined Dec 2006
Jun 13, 2020
Switching2Geico
Jun 13, 2020
10,362 Posts
Im looking for a 20 year refi. Im in california $560k loan. Currently at 3.25% fixed 4 years into a 30 year original loan

Anyone got any dps for good rates for 20 year rates? 3% or below?

Thanks in advance
Jun 13, 2020
2,521 Posts
Joined Aug 2007
Jun 13, 2020
sleekwallet
Jun 13, 2020
2,521 Posts
Quote from SDRebel :
Woah that's crazy good. You went to better.com/amex or somewhere else?

Yeah from the link in this thread, when the market was open on Thursday morning. Right now the market is closed, I would wait for Monday to start searching. Thanks
Jun 13, 2020
2,521 Posts
Joined Aug 2007
Jun 13, 2020
sleekwallet
Jun 13, 2020
2,521 Posts
Quote from techoin :
show us the proof if you are not trolling...better.com shows like $7k in points for 2.75 rate and I have excellent credit and ltv
I guess I got lucky. The market is closed right now; you are looking at the weekend sheets, not the best time to lock a rate.
Jun 13, 2020
146 Posts
Joined Aug 2014
Jun 13, 2020
gb2bg
Jun 13, 2020
146 Posts
Quote from Switching2Geico :
Im looking for a 20 year refi. Im in california $560k loan. Currently at 3.25% fixed 4 years into a 30 year original loan

Anyone got any dps for good rates for 20 year rates? 3% or below?

Thanks in advance
Start with better and then check with owning. Owning is currently only doing CA loans.
Jun 13, 2020
857 Posts
Joined Dec 2009
Jun 13, 2020
lodit
Jun 13, 2020
857 Posts
Quote from cyno :
could you please share the lender that gave you 2.5 with 1000 closing .I am looking for one so I can take it to better to beat/match.
LoanDepot came in the lowest for me.
Also received offers from LenderFi, Sebonic and a couple of others.

Good luck!

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Jun 13, 2020
41 Posts
Joined Nov 2011
Jun 13, 2020
JohnC14
Jun 13, 2020
41 Posts
Quote from Switching2Geico :
Im looking for a 20 year refi. Im in california $560k loan. Currently at 3.25% fixed 4 years into a 30 year original loan

Anyone got any dps for good rates for 20 year rates? 3% or below?

Thanks in advance
Just locked today in nor cali $490k @ 2.75% 20 year with ~2000 lender credit, 50% LTV with 780+ score. Was matching for 2.75% 30 year with 1k in points from another vendor, and Better beat it by 1k making it no cost. I compared the same rate rock between 30 and 20 year, and decided to go with 20 year for now as there will be more cash at hand.
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