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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 16, 2020
1,004 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,004 Posts
Quote from indymale :
I have no way to explain this, but I close on May 13 and my Amex credit just showed up in my email and my account.
I got an email saying "You've earned Amex Statement Credit" and then I check my account which shows the $2500 credit.
I closed at 3.375 for 20 year, so hoping to refinance one more time soon.
Lucky you! I also closed on May 13th. No credit yet. Hopefully soon as I also want to refi again.
Jun 16, 2020
984 Posts
Joined Mar 2012
Jun 16, 2020
jd2010
Jun 16, 2020
984 Posts
2.875 no points no origination fee, about 5k in closing costs on conventional 30 year 510k loan. Not through better, better wanted 3.25 with 8k fees, what a joke
Jun 16, 2020
45 Posts
Joined Apr 2020
Jun 16, 2020
MrDioji
Jun 16, 2020
45 Posts
Quote from jd2010 :
2.875 no points no origination fee, about 5k in closing costs on conventional 30 year 510k loan. Not through better, better wanted 3.25 with 8k fees, what a joke
Did you send the offer to Better for them to try to beat? I was hesitant at first since Better's first quote was so much higher, but they beat Aimloan by $1,000 (...plus $2,500 Amex).
Jun 16, 2020
1,004 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,004 Posts
Quote from jd2010 :
2.875 no points no origination fee, about 5k in closing costs on conventional 30 year 510k loan. Not through better, better wanted 3.25 with 8k fees, what a joke
As have been stated multiple times in this thread and even on the last few pages. Better is often not competitive until after you send them a competing offer. Feel free to ignore them as "what a joke", but we are making out like bandits by playing the game.
Jun 16, 2020
3 Posts
Joined Feb 2018
Jun 16, 2020
MerryCable2363
Jun 16, 2020
3 Posts
Quote from cdancer20 :
So my refinance is FINALLY done. I think I am on the tail end of how bad the process can go. I mean it's still a hell of a deal. I'm dropping PMI and lowering interest rate by 1% but I just hate that I didn't have as great of an experience as everyone else. Note, I completed all tasks same day. My income and taxes were pulled automatically on their side.

04/23 - Loan Lock at 3.25% with $4800 credit after matching LenderFi
04/24 - Conditionally approved
04/30 - Appraisal waived

05/12 - Initial disclosure sent (Loan amount still wrong.)
05/13 - Appraisal required (exterior only)
05/13 - Appraisal scheduled (Better ordered interior)
05/15 - Multiple calls and emails to Better go ignored and they don't cancel the interior appraisal
05/15 - Appraisal
05/20 - Final appraisal sent to Better
05/27 - Better claims that they are still waiting on final appraisal.
05/27 - Direct Better to response from appraisal and MAGICALLY they see the completed appraisal
05/28 - Appraisal came in lower than estimated appraisal so they remove $1000 in Lender credit. Mind you, this was a matched rate. (Loan amount still wrong.)
05/29 - Plenty of complaints lead closer to request a concession from management which puts me about $100 in lender credit higher than originally.
06/05 - Closing rescheduled
06/09 - Closing
06/15 - Funded
06/15 - Rate lock expiration date.

So all in all it took almost 7 weeks from rate lock to closing and 8 weeks from rate lock to funding.
Thanks for this. Why was appraisal initially waived and then required?
Jun 16, 2020
984 Posts
Joined Mar 2012
Jun 16, 2020
jd2010
Jun 16, 2020
984 Posts
Quote from CycloneFW :
As have been stated multiple times in this thread and even on the last few pages. Better is often not competitive until after you send them a competing offer. Feel free to ignore them as "what a joke", but we are making out like bandits by playing the game.
Didn't have time to play the game as it wasn't a refi. Everything I read says they are slow as hell to fund and get paperwork through their system. Needed someone who was trustworthy and could move fast.

Maybe in a month when the 10 year goes to 0 I'll give better a try on a sub 2% refi
Jun 16, 2020
1,004 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,004 Posts
Quote from jd2010 :
Didn't have time to play the game as it wasn't a refi. Everything I read says they are slow as hell to fund and get paperwork through their system. Needed someone who was trustworthy and could move fast.

Maybe in a month when the 10 year goes to 0 I'll give better a try on a sub 2% refi
Ahh. Purchase loan is definitely more time sensitive to refi. I know another poster about 10 pages back was doing a purchase without issue and another a page or two back also didn't have issue. However, I personally wouldn't risk a purchase with how often Better runs into problems.

Hopefully you close soon and can refi. As a reference point, my refi took 18 days from rate lock to the closing table.

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Jun 16, 2020
1,560 Posts
Joined Aug 2007
Jun 16, 2020
ha-evolution
Jun 16, 2020
1,560 Posts
Quote from CycloneFW :
As have been stated multiple times in this thread and even on the last few pages. Better is often not competitive until after you send them a competing offer. Feel free to ignore them as "what a joke", but we are making out like bandits by playing the game.
Except they are a joke when the refuse to match, let alone beat, a lower LE which happened in my case as well as others. So much for their Better Price Guarantee.
Jun 16, 2020
356 Posts
Joined Nov 2009
Jun 16, 2020
dealsninjaz401
Jun 16, 2020
356 Posts
Closed last week, took about 2 weeks with Lenderfi. 30 year zero cost (got a few hundred back), no appraisal 3.0%. Definitely could have waited for a better rate but definitely an improvement on my 4.25% purchase loan last year.
Jun 16, 2020
1,004 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,004 Posts
Quote from ha-evolution :
Except they are a joke when the refuse to match, let alone beat, a lower LE which happened in my case as well as others. So much for their Better Price Guarantee.
Potentially. But in someone else's case a page ago and in mine like 20 pages ago, they didn't even match, but got close. For me, $150 more. For the other person, I though within $500 or less. So after the Amex credit, that is still a great deal.

In the other person's case, s/he asked them to provide their best offer when they couldn't match and they obliged. For me, I didn't have to ask. They said they couldn't match, but gave me an offer close to it automatically.
Jun 16, 2020
1,004 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,004 Posts
Quote from dealsninjaz401 :
Closed last week, took about 2 weeks with Lenderfi. 30 year zero cost (got a few hundred back), no appraisal 3.0%. Definitely could have waited for a better rate but definitely an improvement on my 4.25% purchase loan last year.
Indeed a great improvement. Don't let the perfect deal be the enemy of a good deal. Congrats!
Jun 16, 2020
1,560 Posts
Joined Aug 2007
Jun 16, 2020
ha-evolution
Jun 16, 2020
1,560 Posts
Quote from CycloneFW :
In the other person's case, s/he asked them to provide their best offer when they couldn't match and they obliged. For me, I didn't have to ask. They said they couldn't match, but gave me an offer close to it automatically.
That's great for you - seems like their is some inconsistency in their business practices.
Jun 16, 2020
356 Posts
Joined Nov 2009
Jun 16, 2020
dealsninjaz401
Jun 16, 2020
356 Posts
Quote from CycloneFW :
Indeed a great improvement. Don't let the perfect deal be the enemy of a good deal. Congrats!
Thank you! Closing was very easy, notary came to me and everything was done in about an hour. Overall pretty happy with my experience. Really would have wanted to leverage Better.com had they served mortgages here. Lenderfi will reach out if rates are lower 4 months after, and you are locked in from selling or refi again (with different company) for 6 months. The 4 month notification/refi would be a restart of the process (hard pull), though.
Jun 16, 2020
606 Posts
Joined Dec 2013
Jun 16, 2020
cdancer20
Jun 16, 2020
606 Posts
Quote from MerryCable2363 :
Thanks for this. Why was appraisal initially waived and then required?
I was told that it's because my community has an HOA. Initially it was waived through the Fannie Mae tool but at the end of underwriting, it changed.

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Jun 16, 2020
52 Posts
Joined Mar 2014
Jun 16, 2020
jasss
Jun 16, 2020
52 Posts
Quote from jd2010 :
2.875 no points no origination fee, about 5k in closing costs on conventional 30 year 510k loan. Not through better, better wanted 3.25 with 8k fees, what a joke
Same here. Better gave me 3.75% with 8K fees for 30 year. Do you mind sharing which lender did you go with? I am still shopping around.

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