Must have an amex to add offer to your account. Details:
Unlock even more as an
American ExpressÂŽ 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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A couple of people have said in this thread that they were able to do it more than once
They're approving my cheaper Title quote so I'll go from $1100 to $595 (saving of $505). So now my total loan cost is -$1369 into my pocket for 2.75% 30 years fixed.
Existing mortgage: 30 years @ 3.375% (refinanced during Nov 2019). I was paying PMI and planning to show documents (probably an appraisal; house value went up) to remove it.
- Opened Better account on 05/24.
- Initial rate and loan cost were high.
- Emailed lender estimate from another lender on 05/27 (3% with $1776 cost after lender credit; appraisal waived; did not include prepaids and escrow here).
- Obtained online pricing from AIMLoan, LenderFi, Closeyourownloan, Box, Provident, Hightechlending, Zillow mortgage and Bankrate websites.
- Tried LenderFi online rates. It was not great. I submitted an application expecting better rates. They were reluctant to provide rates. Worst customer service.
- Better matched 3.0% rate ($280k) on 05/27 with a loan cost of $610 (appraisal paid by AMEX) plus $2500 AMEX credit.
- Rate locked on 05/27
- Appraisal ordered on 05/27; cleared on 06/05
- Title ordered on 05/28; cleared on 06/03
- I completed most tasks within 1-3 days.
- Obtained an intial CD on 06/12.
- Received a task to enter AMEX card info (last 5 digits).
- Planned to close on 06/16 but delayed due to title paperwork.
- Closed on 06/23.
Today (06/26), their website said: Congratulations! Your loan is funded. However, email says expected 06/29 (CD also said this date). As per final CD, 3% rate for a 30 year loan ($280k); loan cost was $428 plus AMEX credit of $2500.
- If I just pay P&I for the new loan, the saving would be about $10k over the life of the loan. I received about $1k at closing. Hopefully, I will get AMEX $2500 credit. I may get some escrow back from the previous lender.
- If I pay P&I plus extra $50 that I save due to the reduced rate (3.375% to 3.0%) and new loan, my saving would be about $20k over the life of the loan plus others mentioned above.
Awesome deal. Thanks OP and many SD users for their suggestions and input.
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I would call them right away
Big difference
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A couple of people have said in this thread that they were able to do it more than once
I have the offer in an email from end of last year that shows the last 4 digits of my Amex card I used on the offer. So while I never talked to Amex about the offer I have their email to me and countless emails with better about it.
I figured any day now the credit would hit. I could call Amex and just try to check status but not sure what department.
My main reason for any sense of urgency now was that I got 3.25 30 yr on 200k home value 275 with about 1500 in lender credit to me.
I'm not sure if I can do the same offer on the same home and same card again but if I can July is it to apply. Was hoping for 3 or 2.875% and cash to my pocket.
Id like to get the bonus before any further applying.
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