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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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About the Poster
Deal Details
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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Jul 1, 2020
1,412 Posts
Joined Jan 2020
Jul 1, 2020
SiennaDeer8270
Jul 1, 2020
1,412 Posts
Quote from brat7705 :
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
I'd never agree to escrow. Just request for escrow to be waived. If you put the $7k into tsla, you'll have 14k by November!
1
Jul 1, 2020
273 Posts
Joined Nov 2006
Jul 1, 2020
cyno
Jul 1, 2020
273 Posts
Quote from brat7705 :
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
The escrow and prepaid costs will keep changing, so don't worry about these.
Jul 1, 2020
1,412 Posts
Joined Jan 2020
Jul 1, 2020
SiennaDeer8270
Jul 1, 2020
1,412 Posts
Quote from shahhere :
If the rates tend to stay low or trend not too far off then people should consider refinancing often Smilie. I have in the past done 3-4 in a single calendar year and have netted back after closing costs about $16-$18K on a higher loan balance and taking a bit of a higher rate.


Shahhere
You must be a glutton for punishment. Refinancing is not fun. Getting a loan estimate from a competitor is pure torture. Wouldn't wish it upon my worst enemy.

If you don't use your credit for anything, I guess it doesn't matter. But if you are buying investment properties or applying for business loans, I don't think a lender would be pleased with a million refinance inquiries on your credit report.
Pro
Jul 1, 2020
5,054 Posts
Joined Jul 2006
Jul 1, 2020
shahhere
Pro
Jul 1, 2020
5,054 Posts
Quote from SiennaDeer8270 :
You must be a glutton for punishment. Refinancing is not fun. Getting a loan estimate from a competitor is pure torture. Wouldn't wish it upon my worst enemy.

If you don't use your credit for anything, I guess it doesn't matter. But if you are buying investment properties or applying for business loans, I don't think a lender would be pleased with a million refinance inquiries on your credit report.

Na dont scare people unnecessarily lol, its not rocket science and once you do it once the second time around its 80%+ the same paperwork and the only difference is Paystubs/Bank Statements. I haven't refinanced like that much in 8+ years as the recent years I just keep going back to the same lender and on average can turn paperwork in 2 days tops. Like i said earlier on repeat refinances it would take about 2 hours or work.


Again this wont work for many but if you have stable job, enough income, 20%+ equity and low debt its very repeatable along with good credit. I don't own investment property anymore but still have a stellar credit so having 10 or 100 inquires wont matter and the drop in credit score 9-13 points for me recovers in 3-4 months.


The rates are low again to the point where this is my 3rd refinance but this is the time to do this and if possible take higher points to make money quickly.



Shahhere
Jul 1, 2020
9 Posts
Joined Jan 2010
Jul 1, 2020
bamdoo
Jul 1, 2020
9 Posts
My loan funded today. Should I expect an email mentioning the $2,500 or does it just come when it comes?
Jul 1, 2020
281 Posts
Joined Mar 2010
Jul 1, 2020
hungiema
Jul 1, 2020
281 Posts
Quote from bamdoo :
My loan funded today. Should I expect an email mentioning the $2,500 or does it just come when it comes?
you'll probably get an automated email from your concierge. other than that, nothing from american express. just check your account again in 4-8weeks.
Jul 1, 2020
11 Posts
Joined Jan 2015
Jul 1, 2020
cnagendranmca
Jul 1, 2020
11 Posts
What is the timeline for loan to funded? I m waiting for ICD for past 5 days.

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Jul 1, 2020
12 Posts
Joined Nov 2014
Jul 1, 2020
bbc9
Jul 1, 2020
12 Posts
Quote from Switching2Geico :
I had locked in with better last week at 2.375 15 years but 4k fees. I was annoyed they were charging me points because i didnt want to impound property taxes and insurance.

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.
Do you mind sharing the lender details? Which state?
Jul 1, 2020
83 Posts
Joined Mar 2016
Jul 1, 2020
Aln10788
Jul 1, 2020
83 Posts
Lenderfi finally contacted me. They were the only ones to truly give me a great rate as their first offer without needing me to send a good offer for them to beat. Guy was really helpful actually. The had me at 15 year 3.275 no points. However they couldn't beat loandeopt who was at 3.275 with $3,115 in lender credits. I asked Better to match loandepot. Better went down from 3.75 to 3.275 but could only do a $610 lender credit. Still ended up cheaper than loandeopt with the Amex credit due to no origination fee as loandepot had a $1500 one. All in all 15 year 3.275 D+E = $2048 minus J of $610. They guaranteed my appraisal waiver of $550 and Amex $2500 credit. Should come out to $1620 in my pocket if I am doing this math right. Seems like a good deal to me.
Jul 1, 2020
63 Posts
Joined Jul 2008
Jul 1, 2020
elsaball
Jul 1, 2020
63 Posts
Loan funded (2.75 30yr 2700 credit). Next stop: Amex credit
Jul 1, 2020
41,437 Posts
Joined Apr 2006
Jul 1, 2020
SDRebel
Jul 1, 2020
41,437 Posts
Quote from brat7705 :
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
Aren't they due in Jan?
Jul 1, 2020
41,437 Posts
Joined Apr 2006
Jul 1, 2020
SDRebel
Jul 1, 2020
41,437 Posts
Quote from Edge :
Same here. No one is responding to me from LenderFi. I was planning to file a complaint with Consumer Financial Protection Bureau (CFPB)

My understanding is by law, lenders are supposed to provide a loan estimate within 3 days after running your credit.

https://www.consumerfinance.gov/complaint/
Same here, lenderfi stopped responding
Jul 1, 2020
41,437 Posts
Joined Apr 2006
Jul 1, 2020
SDRebel
Jul 1, 2020
41,437 Posts
Quote from SiennaDeer8270 :
I'd never agree to escrow. Just request for escrow to be waived. If you put the $7k into tsla, you'll have 14k by November!
Or 3.5k
Jul 1, 2020
10,362 Posts
Joined Dec 2006
Jul 1, 2020
Switching2Geico
Jul 1, 2020
10,362 Posts
Quote from Edge :
What other lender are you using ?
Loan depot

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Jul 1, 2020
188 Posts
Joined Dec 2015
Jul 1, 2020
Abhirup
Jul 1, 2020
188 Posts
I just locked with better for a purchase, anyone with experience of purchasing through them? Typically how much time do they take to close?

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