Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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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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