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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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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
1,391 Posts
Joined Jan 2004
Jun 16, 2020
seawolf
Jun 16, 2020
1,391 Posts
Quote from hungiema :
so i refinanced the second time, using the same credit card. The mortgage was funded on May 11th, and I got my statement credit today.

Quote from DogAndPony :
Cool!

My closing is on Monday. I plan on applying again before July 25 in case the rates drop before the end of October and I can take advantage of the offer again.
Did better price match the 2nd time? According to T&C, they don't price match if they funded a loan less than 6 months prior to request. See item 6 in T&C.

https://better.com/with/better-price-guarantee/

Better will also cancel out applications that don't intent to proceed within 30 days from the initial soft pull. So if you start the process on July 25 you need to proceed by August 25.
Last edited by seawolf June 16, 2020 at 11:20 AM.
Jun 16, 2020
83 Posts
Joined Nov 2014
Jun 16, 2020
AdamM8293
Jun 16, 2020
83 Posts
Quote from Mikey122687 :
Which is better?

2.625% for $3558 Cost
2.75% for $577 Cost?

Both 30 years

Not counting $2500 AMEX
I personally like the cheaper refi options in the case that you sell the house or if rates drop and you go for another refinance. So I'd personally go with the 2.75%. $3k savings in costs for 1/8 of a point is usually a good spread for a normal sized mortgage.
Jun 16, 2020
606 Posts
Joined Dec 2013
Jun 16, 2020
cdancer20
Jun 16, 2020
606 Posts
Quote from adwi :
What happens with owners title insurance in case of refinance? It has to be bought again or the one taken at the time of first purchase will remain valid?
My closer told me that since I bought an owner's title insurance, it will allow me to be able to get the reissue credit on any refinance for as long as I own the house. I didn't have to buy a new one. This is in FL.
Quote from Mikey122687 :
Which is better?

2.625% for $3558 Cost
2.75% for $577 Cost?

Both 30 years

Not counting $2500 AMEX
Look at the dollar amount difference per month. Do this math: (3558-577)/<monthly difference>. This will give you the number of months that it will take to recoup the difference. If you don't plan to refinance or sell without that time period, then take the lower rate. If you do, then take the lower rate.
Jun 16, 2020
7,484 Posts
Joined Sep 2008
Jun 16, 2020
DogAndPony
Jun 16, 2020
7,484 Posts
Quote from seawolf :
FYI - Better doesn't not price match if they funded a loan less than 6 months prior to request.

Better will also cancel out applications that don't intent to proceed within 30 days from the initial soft pull. So if you start the process on July 25 you need to proceed by August 25.
Thanks.

Didn't know about the first part. That could make it difficult to try this deal since Better has pretty poor rates without matching against someone else.

As for your second point, that's not entirely true, or at least in my experience. I started an application in February just to see what their rates looked like and I didn't start to move forward until May (and I'm closing next week). My application was still active and I didn't touch a thing between February through the middle of May.
Jun 16, 2020
480 Posts
Joined Dec 2006
Jun 16, 2020
cheapdad00
Jun 16, 2020
480 Posts
Quote from AdamM8293 :
I personally like the cheaper refi options in the case that you sell the house or if rates drop and you go for another refinance. So I'd personally go with the 2.75%. $3k savings in costs for 1/8 of a point is usually a good spread for a normal sized mortgage.
Or even better, take the 2.875 or 3% rate with a larger rebate to fund pre-paids.
Jun 16, 2020
606 Posts
Joined Dec 2013
Jun 16, 2020
cdancer20
Jun 16, 2020
606 Posts
Quote from zzrayzz :
Why isnt everyone just doing a REISSUE on their lenders title insurance if still within 10 years since mortgage? I just spoken with my attorney for when we bought the house, and she said to tell the bank that well get our own title insurance and just let her know when we know when our closing is and she'll just do a reissue at a fraction of the price and shell be in contact with the loan officer (better's processing expert?)

Or am I doing something wrong here?
Better's title company automatically did the reissue on my loan. However, I used an outside closer as her settlement costs were lower.
Jun 16, 2020
1,005 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,005 Posts
Quote from hungiema :
so i refinanced the second time, using the same credit card. The mortgage was funded on May 11th, and I got my statement credit today.
Sweet!! Thanks. I'm glad to see we have full confirmation on re-use. I didn't think it would be an issue, but it's good to see the credit paid out again.

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Jun 16, 2020
606 Posts
Joined Dec 2013
Jun 16, 2020
cdancer20
Jun 16, 2020
606 Posts
Quote from hungiema :
so i refinanced the second time, using the same credit card. The mortgage was funded on May 11th, and I got my statement credit today.
Thanks for the data point! When was your first refinance? Based on what someone else said, if it was less than 6 months ago did Better still match another lender?
Jun 16, 2020
1,005 Posts
Joined Mar 2019
Jun 16, 2020
CycloneFW
Jun 16, 2020
1,005 Posts
Quote from zzrayzz :
Why isnt everyone just doing a REISSUE on their lenders title insurance if still within 10 years since mortgage? I just spoken with my attorney for when we bought the house, and she said to tell the bank that well get our own title insurance and just let her know when we know when our closing is and she'll just do a reissue at a fraction of the price and shell be in contact with the loan officer (better's processing expert?)

Or am I doing something wrong here?
In my state, and title policy can be done at the reissue rate if a prior eligible policy is there. So whatever agent is writing the policy (your prior agent, Better Settlement Services, or some other party), they can use the reissue rate.

This may vary by state. In my state, policy rates and state regulated and every firm charges the same for the title policy itself.
Jun 16, 2020
90 Posts
Joined Jun 2011
Jun 16, 2020
zzrayzz
Jun 16, 2020
90 Posts
Quote from cdancer20 :
Better's title company automatically did the reissue on my loan. However, I used an outside closer as her settlement costs were lower.
so you did a reissue on your owners policy? and you shopped for your own lenders title insurance and did not use betters?
Jun 16, 2020
90 Posts
Joined Jun 2011
Jun 16, 2020
zzrayzz
Jun 16, 2020
90 Posts
Quote from CycloneFW :
In my state, and title policy can be done at the reissue rate if a prior eligible policy is there. So whatever agent is writing the policy (your prior agent, Better Settlement Services, or some other party), they can use the reissue rate.

This may vary by state. In my state, policy rates and state regulated and every firm charges the same for the title policy itself.
ok great this makes sense and is what i was thinking of. So i will tell better ill be using my 'previous agent' to reissue because itll be cheaper at the reissue rate. Im in NY
Jun 16, 2020
755 Posts
Joined Oct 2007
Jun 16, 2020
swine
Jun 16, 2020
755 Posts
Quote from DogAndPony :
Thanks.

Didn't know about the first part. That could make it difficult to try this deal since Better has pretty poor rates without matching against someone else.

As for your second point, that's not entirely true, or at least in my experience. I started an application in February just to see what their rates looked like and I didn't start to move forward until May (and I'm closing next week). My application was still active and I didn't touch a thing between February through the middle of May.
For my experience, the Better initial applications that stops on 'intend to move forward' task always expires every 30 days. After that, I have to fill in a bunch of numbers again.
Jun 16, 2020
1,391 Posts
Joined Jan 2004
Jun 16, 2020
seawolf
Jun 16, 2020
1,391 Posts
Quote from JetBlast :
Better keeps changing my LE. Credits went up by $1,200 so I'm getting $900 to close. Do they automatically do that when rates drop, which I don't think they have. I locked in 2.875% on a 20 year refinance last week.
Quote from DogAndPony :
Thanks.

Didn't know about the first part. That could make it difficult to try this deal since Better has pretty poor rates without matching against someone else.

As for your second point, that's not entirely true, or at least in my experience. I started an application in February just to see what their rates looked like and I didn't start to move forward until May (and I'm closing next week). My application was still active and I didn't touch a thing between February through the middle of May.
My experience earlier this year and last year matched swine's response below. I didn't intent to proceed and after 3 weeks, I got emails to proceed and around 4 weeks, got an email to reapply and the "stale" application disappeared from my account.

Quote from swine :
For my experience, the Better initial applications that stops on 'intend to move forward' task always expires every 30 days. After that, I have to fill in a bunch of numbers again.
Jun 16, 2020
4,362 Posts
Joined Feb 2005
Jun 16, 2020
caveman017
Jun 16, 2020
4,362 Posts
Quote from adwi :
What happens with owners title insurance in case of refinance? It has to be bought again or the one taken at the time of first purchase will remain valid?
IMHO Title insurance is one of the largest scams out there for refinancing.

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Jun 16, 2020
606 Posts
Joined Dec 2013
Jun 16, 2020
cdancer20
Jun 16, 2020
606 Posts
Quote from zzrayzz :
so you did a reissue on your owners policy? and you shopped for your own lenders title insurance and did not use betters?
They did it automatically for me after pulling up my title info. I went from like $1900 for title to $1200 without even asking.

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