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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.
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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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9,848 Comments

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Jun 15, 2020
2,065 Posts
Joined Aug 2009
Jun 15, 2020
polvoprismboy
Jun 15, 2020
2,065 Posts
As of now, which may change throughout the approval process, my closing costs are $1,700, which includes 10 months of taxes and a year prepaid of HOI, and my current escrow account has $3,300 in it for 10 months of taxes and HOI...so after getting that back as a check, I'll have made $1,600 + $2,500 AMEX + $200 less per month for mortgage payments.

Am I doing the math right? If not, I think this might be my greatest SD of all time.
Jun 15, 2020
473 Posts
Joined Jan 2013
Jun 15, 2020
adwi
Jun 15, 2020
473 Posts
How are people confirming the Amex credit eligibility if the offer is not in their online account?
Jun 15, 2020
473 Posts
Joined Jan 2013
Jun 15, 2020
adwi
Jun 15, 2020
473 Posts
Quote from zzrayzz :
i have no idea yet. I would think/hope so.... my current lender is a "big bank"
How much are you saving with CEMA and did Better's bank attorney speak to you about this? I need to decide as well but if the average fees is about 2k as mentioned in the link below,I will pass it since that is what I will save. Also the delay in closing will mean I will keep on paying interest to current lender.

https://better.com/content/ny-guide-cema-loan/
Jun 15, 2020
60 Posts
Joined May 2020
Jun 15, 2020
arleyl
Jun 15, 2020
60 Posts
Quote from adwi :
How are people confirming the Amex credit eligibility if the offer is not in their online account?
I received a targeted email + when you get to closing Better requests your Amex CC number.
Jun 15, 2020
90 Posts
Joined Jun 2011
Jun 15, 2020
zzrayzz
Jun 15, 2020
90 Posts
Quote from adwi :
How are people confirming the Amex credit eligibility if the offer is not in their online account?
i actually got an email from better with this offer after signing up for an account via better.com/amex lol... so i guess that counts?
Jun 15, 2020
6,123 Posts
Joined Jun 2005
Jun 15, 2020
PhantasmX
Jun 15, 2020
6,123 Posts
My refinancing for the rental fell through. They demanded that I carry flood insurance with escrow even though the property is in a zone X designation. Agent said no control over that. I told them no thanks. It would defeat my purpose of refinancing.
Jun 15, 2020
90 Posts
Joined Jun 2011
Jun 15, 2020
zzrayzz
Jun 15, 2020
90 Posts
Quote from adwi :
How much are you saving with CEMA and did Better's bank attorney speak to you about this? I need to decide as well but if the average fees is about 2k as mentioned in the link below,I will pass it since that is what I will save. Also the delay in closing will mean I will keep on paying interest to current lender.

https://better.com/content/ny-guide-cema-loan/
Im net saving $12K with CEMA.... i have to go this route, its a no brainer and maybe a deal-breaker if it doesnt go through... but shouldnt be a problem if both banks agree to do it.

well i went in this knowing i only want to do a CEMA. better's atty's reached out already via our 'processing expert' and ive signed the form to give them auth to proceed with the CEMA. Just a waiting game now........ i expect/hope itll take 8 weeks realistically which leaves me with like 1-2 weeks of rate lock left to close. it'll be tight

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Jun 15, 2020
1,560 Posts
Joined Aug 2007
Jun 15, 2020
ha-evolution
Jun 15, 2020
1,560 Posts
I submitted my LE for the Better Price Guarantee: rate on the LE for 15 year is 2.5%. Better's lowest rate was 3.3% and $2,310 in points. Quite a disparity.
Jun 15, 2020
132 Posts
Joined Apr 2006
Jun 15, 2020
tyrantrave
Jun 15, 2020
132 Posts
Quote from kesco :
Quite.

I'm about to close a refi @ 2.875% 30 yr fixed - plus a $1494 credit - plus the $2500 AMEX.

Just got my closing disclosure.

A+B+C on the closing disclosure, combined == $1100. +$90 in recording fees == $1190.

So they're paying me around $300 PLUS the $2500 AMEX credit to refi.

What a SD.
Curious what state and how much your loan is for? 2.875% 30 yr fixed for a $170K loan in TN from LenderFi has a closing cost of $4,467 with excellent credit. Why is there such a huge disparity?

Jun 15, 2020
2,520 Posts
Joined Aug 2007
Jun 15, 2020
sleekwallet
Jun 15, 2020
2,520 Posts
Quote from unlvrebels :
You could save up to 40% by shopping for title insurance and asking for reissue rate if you have refinanced recently. YOU NEED TO ASK FOR IT ELSE YOU WON'T GET IT. I wish I knew this earlier. I just wanted to spread the information.

- Lender's Title Insurance: There are few big underwriters (such has First American Title Insurance Company, Chicago Title Insurance Co, Fidelity National Title Insurance Company; just go their website and get pricing after reissue credit) who provides this service. The cost depends upon property value, zipcode and insurance company. It is $950 (max around $1200) for my property. I am eligible for a reissue credit of about $450 (since I refinanced during Nov 2019). I just provided a copy of previous title insurance document. Some companies have their own offices locally. Else they work with independent agents (who work with many underwriters).

- Title Settlement Fee: The Title Company/Agent does paperwork. They charge a flat fee ($450-700 or more). In some states, their fee is fixed. They get title insurance pricing information from various underwriters and will choose one.

- Go to this site and look for various tile insurance companies for your zipcode. You can call them (or visit their website) and get pricing and reissue credit information:
https://www.homeclosing101.org/fi...o-help-you

- Checkout Title Forward (Redfin). Services few states such as for Colorado, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, Pennsylvania, Tennessee, Texas, Virginia, Washington D.C., and Wisconsin. They have good rates. However their website gives quote for states where they dont service also.
https://www.titleforward.com/


Check out this from ABC news:
https://abcnews.go.com/Business/h...t%20common.
"If you are refinancing -- or buying a house that the seller purchased less than 10 years ago -- the reissue rate is available to you. The idea is that a shorter time period means a shorter title search so a "shorter" fee is in order. The discount ranges from 25 to 60 percent off, with 40 percent being the most common.

Here's the rub: Many title companies won't offer the reissue rate unless you ask, and believe it or not, the government doesn't require them to. So ask. Inquire. Demand! In order to qualify for the reissue rate, you may have to provide proof that there is a valid title insurance policy in place. If you are refinancing, that's easy. Just dig up your old policy. If you are buying, ask the seller if they can provide a copy of their title policy. Most sellers will happily do this because they are asking the same favor of whomever they are buying their next house from."

Thanks for that info. Better is quoting me $1,150 for both title insurance and settlement. I called a couple of local title companies and they all quoted me just for the policy ($550) and some minor recording fees (around $100). I asked about the title settlement fees and they all told me that escrow should charge me for that not them. Am I missing something?

Thanks in advance
Jun 15, 2020
4,362 Posts
Joined Feb 2005
Jun 15, 2020
caveman017
Jun 15, 2020
4,362 Posts
Man, better.com's rates are horrible. I was getting quoted 3.00 with almost $5k in points.
Jun 15, 2020
473 Posts
Joined Jan 2013
Jun 15, 2020
adwi
Jun 15, 2020
473 Posts
Quote from zzrayzz :
i actually got an email from better with this offer after signing up for an account via better.com/amex lol... so i guess that counts?
Is the email from Better read like "your Better Dedicated Concierge as part of the exclusive offer for eligible American Express® Card Members" ?
Jun 15, 2020
34 Posts
Joined Jan 2011
Jun 15, 2020
tuck3979
Jun 15, 2020
34 Posts
Started at a UWM Broker, had LenderFi beat it, brought it to Better. Look at my current rate sheets for 15 and 30 years... wow this is getting insane. +2500 amex credit.

LenderFi actually gave me a no cost 2.625% 30year, Better refused to beat it but offered the attached rate sheet instead. After I saw the 15 years now i'm really torn. need to decide asap.

https://imgur.com/a/DPfMq1y
Jun 15, 2020
2,520 Posts
Joined Aug 2007
Jun 15, 2020
sleekwallet
Jun 15, 2020
2,520 Posts
Quote from tuck3979 :
Started at a UWM Broker, had LenderFi beat it, brought it to Better. Look at my current rate sheets for 15 and 30 years... wow this is getting insane. +2500 amex credit.

LenderFi actually gave me a no cost 2.625% 30year, Better refused to beat it but offered the attached rate sheet instead. After I saw the 15 years now i'm really torn. need to decide asap.

https://imgur.com/a/DPfMq1y

congrats, both of them look pretty good. I would go with better on the 30 year

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Jun 15, 2020
1,773 Posts
Joined May 2006
Jun 15, 2020
baronvdb
Jun 15, 2020
1,773 Posts
Are people getting better.com to Match competitors rates/costs AND getting them to beat it by $1,000??

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