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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6/15: Locked at Better
6/25: Title cleared, underwriting completed already
6/30: Closed
2.75% 30 year
D+E = $1,100
Credit = $3,867
AMEX = $2500
Total profit = $5,267
Will jump right back in the game when I start seeing people get no-cost 2.5% 30year deals. I'll be keeping an eye on the forums for success stories.
Last go around, Better didn't even match my competing lender, but was only $150 higher. After the Amex promo, it made sense to continue with Amex. I had $1450 in closing costs and picked the extra $1k to 2.625% at no cost AFTER the Amex.
My thoughts at the time was that the rate is unlikely to go much lower and I might as well take the lower rate. Well, Friday I got a 2.25% with $1,500 origination fee and $350 lender credit + about $1,400 in 3rd party costs. I shopped that around and out of 8 or so lenders, one one bit to beat it and they still haven't sent me an LE. So I sent the LE I had to Better this afternoon.
The concierge I have today is very responsive. Emailed at 2:30 pm Eastern, got my offer at 3:15 pm. Again, they couldn't beat it. This time, they were $500 more expensive. However, they explicitly said that the Amex promo would still apply and after the Amex, I would ve $2k ahead.
Note, I only have a $150k loan, so I knew going in that I was unlikely to walk away with high lender credits or a competitive rate at no-cost before the Amex credit.
On a whim, I looked through the rate table and the point spread was pretty large for small differences. In the end, I decided on getting the same 2.625% I already had for $550 in closing costs (excluding prepaids) and pocket the Amex credit. Hopefully in the Sept. or so timeframe, I can still get a low-cost/no-cost 2.25% refi elsewhere and do it then.
Meanwhile, I sent the Better LE to the original lender to see if they can improve their offer $2k and go from there.
* all the above referring to 15-year loans
Last go around, Better didn't even match my competing lender, but was only $150 higher. After the Amex promo, it made sense to continue with Amex. I had $1450 in closing costs and picked the extra $1k to 2.625% at no cost AFTER the Amex.
My thoughts at the time was that the rate is unlikely to go much lower and I might as well take the lower rate. Well, Friday I got a 2.25% with $1,500 origination fee and $350 lender credit + about $1,400 in 3rd party costs. I shopped that around and out of 8 or so lenders, one one bit to beat it and they still haven't sent me an LE. So I sent the LE I had to Better this afternoon.
The concierge I have today is very responsive. Emailed at 2:30 pm Eastern, got my offer at 3:15 pm. Again, they couldn't beat it. This time, they were $500 more expensive. However, they explicitly said that the Amex promo would still apply and after the Amex, I would ve $2k ahead.
Note, I only have a $150k loan, so I knew going in that I was unlikely to walk away with high lender credits or a competitive rate at no-cost before the Amex credit.
On a whim, I looked through the rate table and the point spread was pretty large for small differences. In the end, I decided on getting the same 2.625% I already had for $550 in closing costs (excluding prepaids) and pocket the Amex credit. Hopefully in the Sept. or so timeframe, I can still get a low-cost/no-cost 2.25% refi elsewhere and do it then.
Meanwhile, I sent the Better LE to the original lender to see if they can improve their offer $2k and go from there.
I am looking at a 2.25% for 15 years for about $375k. I provided a competing offer from Cross Country Mortgage (found thru Costco's website).
better.com only reduced the A+B+C cost by $1,000. Their A+B+C is $7,625 and only $650 less than Cross Country Mortgage.
Spoke on the phone with better.com and they kept pushing me to lock in the rate. I asked if they still would match after I locked and was told yes.
I did lock, but at this point I have 3 other lenders I am looking at too. The $2,500 and free appraisal are nice, but I want them to do better on A.
For C, I am going to find the title company on my own. In Texas, if your loan is under 8 years you can save on the title insurance.
Do I get a discount if I refinance?
Yes, if you refinance within eight years. The premium discount varies, based on the number of years since your current loan began. If your current loan was within four years of your new loan, you get a 50% discount on the basic premium. If your current loan was between four and eight years before the new loan, you get a 25% discount. After eight years, you do not get a discount.
Do title companies charge the same policy premiums?
Yes. Title insurance rates in Texas are regulated. All title companies will charge the same premium for a policy. Rates are based on the property's sale value. For example, the basic premium for a $50,000 property is $522, and the basic premium for a $100,000 property is $875.
Texas Title Insurance Basic Premium Rates
https://www.tdi.texas.g
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Loan Locked
Loan amount $530K
Today i found and locked with another lender at 2.10% 15 years and NO fees. I lose the amex credit. Lets see if better will match.
Last go around, Better didn't even match my competing lender, but was only $150 higher. After the Amex promo, it made sense to continue with Amex. I had $1450 in closing costs and picked the extra $1k to 2.625% at no cost AFTER the Amex.
My thoughts at the time was that the rate is unlikely to go much lower and I might as well take the lower rate. Well, Friday I got a 2.25% with $1,500 origination fee and $350 lender credit + about $1,400 in 3rd party costs. I shopped that around and out of 8 or so lenders, one one bit to beat it and they still haven't sent me an LE. So I sent the LE I had to Better this afternoon.
The concierge I have today is very responsive. Emailed at 2:30 pm Eastern, got my offer at 3:15 pm. Again, they couldn't beat it. This time, they were $500 more expensive. However, they explicitly said that the Amex promo would still apply and after the Amex, I would ve $2k ahead.
Note, I only have a $150k loan, so I knew going in that I was unlikely to walk away with high lender credits or a competitive rate at no-cost before the Amex credit.
On a whim, I looked through the rate table and the point spread was pretty large for small differences. In the end, I decided on getting the same 2.625% I already had for $550 in closing costs (excluding prepaids) and pocket the Amex credit. Hopefully in the Sept. or so timeframe, I can still get a low-cost/no-cost 2.25% refi elsewhere and do it then.
Meanwhile, I sent the Better LE to the original lender to see if they can improve their offer $2k and go from there.
* all the above referring to 15-year loans/
Today i found and locked with another lender at 2.10% 15 years and NO fees. I lose the amex credit. Lets see if better will match.
Today i found and locked with another lender at 2.10% 15 years and NO fees. I lose the amex credit. Lets see if better will match.
My understanding is by law, lenders are supposed to provide a loan estimate within 3 days after running your credit.
https://www.consumerfin
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