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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
1,391 Posts
Joined Jan 2004
Jul 1, 2020
seawolf
Jul 1, 2020
1,391 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 did 8 refi?
Jul 1, 2020
1,006 Posts
Joined Jan 2008
Jul 1, 2020
lowmazda
Jul 1, 2020
1,006 Posts
Quote from SDRebel :
Aren't they due in Jan?
I get a discount if I pay before due date.


Property Tax bills are mailed to property owners by November 1 of each year. The full amount of taxes owed is due by March 31. The following early payment discounts are available to Orange County taxpayers:

4% discount if paid in November

3% discount if paid in December

2% discount if paid in January

1% discount if paid in February
Pro
Jul 1, 2020
5,054 Posts
Joined Jul 2006
Jul 1, 2020
shahhere
Pro
Jul 1, 2020
5,054 Posts
Quote from seawolf :
You did 8 refi?

Since, 2007 i've done about 12 or so Refinances on the current property.


My memory isnt good but in one of the 2009-2010 years alone I did 3-4 refinances. I was given almost $8,000 in Negative points for my mortgage balance which In most cases would only allow up to $2000 back or rolled back into the loan as a principle reduction. The rest had to be used for Escrows and since I shopped and used title company of my choosing who used to provide a Re-issue discount in PA (which PA has since stopped) I was paying about $3-$4K in closing and keeping about $4800 in each close since the Escrows are money you'd pay no matter what.


Shahhere
Pro
Jul 1, 2020
5,054 Posts
Joined Jul 2006
Jul 1, 2020
shahhere
Pro
Jul 1, 2020
5,054 Posts
Guys that are working with Loan Cabin; things are slow? Their Reviews look good but want to hear from others who are working with them? I have email and calls confirming the 2.75% 30 Year with -$1000 back and no fees but not an official Loan Estimate and an option to close as I think thats the best I've gotten so far.


Shahhere
Jul 1, 2020
899 Posts
Joined Aug 2010
Jul 1, 2020
JetBlast
Jul 1, 2020
899 Posts
Just got my title work finalized. That's another $630 saved from what Better was quoting me with Radian in Texas.
Jul 1, 2020
639 Posts
Joined Jan 2009
Jul 1, 2020
brat7705
Jul 1, 2020
639 Posts
Quote from cheapdad00 :
I got them to reduce mine to about 8 months using that same logic.
Yes, I plan to do this.
Quote from SiennaDeer8270 :
I'd never agree to escrow. Just request for escrow to be waived. If you put the $7k into tsla, you'll have 14k by November!
I will see if I can get a waiver. Tesla... likely peaked or near to it!
Quote from cyno :
The escrow and prepaid costs will keep changing, so don't worry about these.
I agree...
Quote from SDRebel :
Aren't they due in Jan?
I checked, you are correct. Also, county property tax rate for 2021 went down from 0.72 to 0.60 an ~ 500$ less than 2020 nod
Jul 1, 2020
569 Posts
Joined Sep 2005
Jul 1, 2020
bumoftheday
Jul 1, 2020
569 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....
If they are collecting 14 months now and then an additional 4 months prior to the due date in November, it's actually illegal. They are only allowed a 2 month buffer by federal law.

https://www.consumerfinance.gov/p...24/17/#b-1

Note that my guy said at the beginning that the final escrow amount collected won't be reflected until closing disclosures.

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Jul 1, 2020
3,275 Posts
Joined Feb 2014
Jul 1, 2020
iuku
Jul 1, 2020
3,275 Posts
Anyone in NC did own title search to save some cost from what better stating in LE especially settlement cost ($450)
Jul 1, 2020
639 Posts
Joined Jan 2009
Jul 1, 2020
brat7705
Jul 1, 2020
639 Posts
Quote from bumoftheday :
If they are collecting 14 months now and then an additional 4 months prior to the due date in November, it's actually illegal. They are only allowed a 2 month buffer by federal law.

https://www.consumerfinance.gov/p...24/17/#b-1

Note that my guy said at the beginning that the final escrow amount collected won't be reflected until closing disclosures.
Thank you! I'll use this tactic if necessary prior to closing.
Jul 1, 2020
1,412 Posts
Joined Jan 2020
Jul 1, 2020
SiennaDeer8270
Jul 1, 2020
1,412 Posts
Quote from shahhere :
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
Its not just about credit score its also about inquries. If you have no desire to use your credit to grow your portfolio then do what you want. But lenders will ask you about excessive inquiries and can offer you less favorable terms. I would never recommend refinancing four times a year if you want to use your credit for loans.

Taking higher points for cash will affect your ability to qualify for more loans for investment properties. What are you doing with the extra cash? If you are putting it in tsla, then I agree smart decision.
Last edited by SiennaDeer8270 July 1, 2020 at 07:48 AM.
Jul 1, 2020
1,412 Posts
Joined Jan 2020
Jul 1, 2020
SiennaDeer8270
Jul 1, 2020
1,412 Posts
Quote from SDRebel :
Or 3.5k
Tesla just surpassed toyota aa the most valuable auto company in the world. Keep doubting.
Jul 1, 2020
900 Posts
Joined Nov 2017
Jul 1, 2020
gk6740
Jul 1, 2020
900 Posts
Quote from shahhere :
Guys that are working with Loan Cabin; things are slow? Their Reviews look good but want to hear from others who are working with them? I have email and calls confirming the 2.75% 30 Year with -$1000 back and no fees but not an official Loan Estimate and an option to close as I think thats the best I've gotten so far.


Shahhere
I did a Loan Cabin last week. Took a day or two for them to call me back. First estimate was some form they have and not the normal LE. I have asked for a regular form. But based on dealing with 5-6 other lenders, I do not have a good feeling about them.
Jul 1, 2020
41,437 Posts
Joined Apr 2006
Jul 1, 2020
SDRebel
Jul 1, 2020
41,437 Posts
Quote from SiennaDeer8270 :
Tesla just surpassed toyota aa the most valuable auto company in the world. Keep doubting.
that means nothing. it can easily drop for a while.
1
Jul 1, 2020
1,412 Posts
Joined Jan 2020
Jul 1, 2020
SiennaDeer8270
Jul 1, 2020
1,412 Posts
Quote from SDRebel :
that means nothing. it can easily drop for a while.
How does it mean nothing. This means you profit. Buy more if it drops. The trend is up.
1

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Jul 1, 2020
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Joined Nov 2017
Jul 1, 2020
gk6740
Jul 1, 2020
900 Posts
Quote from SDRebel :
that means nothing. it can easily drop for a while.
Come on folks, this thread is about home loans. There are thousands of stocks worth discussin, but not here.

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