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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A = $0, B = $64, C = $3,133. J (Lender Credits) = -$3,196. Making the loan cost $1, for 30 year conforming 2.75% mortgage. Plus $2,500 bonus from Amex, this is incredible.
If you purchased a home 5 years ago, you would have obtained Title Insurance on your original purchase loan. You can go back to that title company and ask for a re-issue rate when you refinance.
In some cases, some people who are in the processing of purchasing a new property have asked and obtained the title insurance information from the seller of the property. They have then asked the Title Agent for a re-issue rate. They claim to have gotten a discount..... but I have never seen it happen with this situation personally.
I hope that is a little clearer. I will try to update the original post.
If you purchased a home 5 years ago, you would have obtained Title Insurance on your original purchase loan. You can go back to that title company and ask for a re-issue rate when you refinance.
In some cases, some people who are in the processing of purchasing a new property have asked and obtained the title insurance information from the seller of the property They have then asked the Title Agent for a re-issue rate. They claim to have gotten a discount..... but I have never seen it happen with this situation personally.
I hope that is a little clearer. I will try to update the original post.
https://www.pafirsttime
https://www.pafirsttime
Running through a couple of calculators may still be a valuable exercise. You can check settlement fees, and see if you are being charged the correct recording fee for your county.
If I make that current and resent while remaining in forbearance will I be good? If not would I need to make current and get out of forbearance with a note stating so from that lender?
"Additionally, borrowers will be allowed to get a new mortgage — whether it's a refinance or purchase loan — three months after their forbearance ends and they have made three consecutive payments under their repayment plan, payment deferral option or loan modification."
"Typically, borrowers can only get a new mortgage, whether it's to refinance or to buy a home, a year after their payments are up to date post-forbearance."
https://www.marketwatch
https://www.bankrate.co
https://slickdeals.net/f/14125196-shop-for-title-insurance?v=1
I do think people have done investment properties, but can't recall if anyone has done one with cash out.
seeing 2.25 for 15yr and 2.625 for 30yr
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Let's say we have a 5 year, 10 year, 15 year, 20 year, and 30 year loan, each with the exact same interest rate and exact same closing costs.
5 year @ 2% for $250k with $4,381.94/mo minimum payment = $12,916.41 in interest at end of loan
10 year @ 2% for $250k with $2,300.34/mo minimum payment, but $4,381.94/mo paid instead = $12,916.41 in interest when loan is finished in 5 years
15 year, 2%, $250k, $1,608.77/mo min, $4,381.94/mo paid = $12,916.41 in interest when loan paid off in 5 years
20 year, 2%, $250k, $1,264.71/mo min, $4,381/94/mo paid = $12,916.41 interest over 5 years
30 year, 2%, $250k, $924.05/mo min, $4,381/94/mo paid = $12,916.41 interest over 5 years
Each one is exactly the same. What typically is the actual different in real world examples is that the longer terms have higher interest rates.
The process was simple and easy with Better and technically I could have closed last week if it was not for my 2nd half of tax payment from my current mortgage provider. In summary I could have closed it less than 3 weeks or maybe even 2 weeks which I never experienced. Kudos to Better Team with the exception of "Jimmie Arterberry" who supposed to be my Dedicated Concierge. Jimmie never returned any e-mails or calls to my request even after scheduling sometime with him. If I counted on Jimmie I would never have closed it with Better.
Now the second phase begins - I am surprised to see my loan already before I closed it. It never happened to me and interesting to see how market in this space is heating up. My biggest concern though is - My loan is sold to "The Money Source" based in Dallas. A quick Google led me to worry significantly with their poor and unprofessional customer services. Have you guys had any of your loan sold to The Money Source (TMS)? If so, can you share how long it has been since the loan was sold and your experience with them? Based on google reviews, I am thinking to cancel this loan with Better or force them to sell to someone else? Any thoughts or ideas related to this?
Let's say we have a 5 year, 10 year, 15 year, 20 year, and 30 year loan, each with the exact same interest rate and exact same closing costs.
5 year @ 2% for $250k with $4,381.94/mo minimum payment = $12,916.41 in interest at end of loan
10 year @ 2% for $250k with $2,300.34/mo minimum payment, but $4,381.94/mo paid instead = $12,916.41 in interest when loan is finished in 5 years
15 year, 2%, $250k, $1,608.77/mo min, $4,381.94/mo paid = $12,916.41 in interest when loan paid off in 5 years
20 year, 2%, $250k, $1,264.71/mo min, $4,381/94/mo paid = $12,916.41 interest over 5 years
30 year, 2%, $250k, $924.05/mo min, $4,381/94/mo paid = $12,916.41 interest over 5 years
Each one is exactly the same. What typically is the actual different in real world examples is that the longer terms have higher interest rates.
For how much % below my current interest rate, do you think going through another refinance process + closing costs would be worth the trouble? .125% below? .25% below?
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For how much % below my current interest rate, do you think going through another refinance process + closing costs would be worth the trouble? .125% below? .25% below?
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