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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.
Community Notes
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 2, 2020
1,004 Posts
Joined Mar 2019
Jul 2, 2020
CycloneFW
Jul 2, 2020
1,004 Posts
Quote from SiennaDeer8270 :
Do you need to wire the closing costs if it's just a few hundred due from the borrower? Seems like a waste of $50 wiring fee for such a small amount.
For me, Better said $500 or less, personal check. $501 - $2,500, certified check. $2,501+, wire xfer.
Jul 2, 2020
1,004 Posts
Joined Mar 2019
Jul 2, 2020
CycloneFW
Jul 2, 2020
1,004 Posts
Quote from flyeaglesfly33 :
I rate locked on 6/23 from a LE match from AIM and just received a better LE from Lenderfi and submitted to my Processing Expert. He responded saying he is not licensed in my state and forwarded it onto the " capital markets team" for a match review. Anyone have any experience going this route? The rate is .25 better for roughly the same amount of fees, so I would to get it rematched.
What's going on is that the processing expert doesn't hold the license for mortgage lending like your concierge does, so they are not legally permitted to talk pricing with you. They have to get someone licensed in your state to talk pricing with you, even if it is some stupid minor change. So rather than leave you hanging while they get the right people to do it, they took the extra effort to contact you and let you know that things are moving along. Nothing to worry about.

Btw, I personally feel that post-rate lock competing offers really should go to the processing expert as that person is more responsive that then loan officer is. It's not that they do the work, but they are better and following through to make it happen than the loan officer is IMO.
Jul 2, 2020
2,065 Posts
Joined Aug 2009
Jul 2, 2020
polvoprismboy
Jul 2, 2020
2,065 Posts
Please delete
Last edited by polvoprismboy July 2, 2020 at 11:14 AM.
Jul 2, 2020
2,065 Posts
Joined Aug 2009
Jul 2, 2020
polvoprismboy
Jul 2, 2020
2,065 Posts
Quote from SiennaDeer8270 :
Do you need to wire the closing costs if it's just a few hundred due from the borrower? Seems like a waste of $50 wiring fee for such a small amount.
It was a little over 1k, but I am an employee of the bank I use, so wire fees are free 😎
Jul 2, 2020
350 Posts
Joined Jun 2012
Jul 2, 2020
flyeaglesfly33
Jul 2, 2020
350 Posts
Delete
Last edited by flyeaglesfly33 July 2, 2020 at 11:16 AM.
Jul 2, 2020
350 Posts
Joined Jun 2012
Jul 2, 2020
flyeaglesfly33
Jul 2, 2020
350 Posts
Quote from CycloneFW :
What's going on is that the processing expert doesn't hold the license for mortgage lending like your concierge does, so they are not legally permitted to talk pricing with you. They have to get someone licensed in your state to talk pricing with you, even if it is some stupid minor change. So rather than leave you hanging while they get the right people to do it, they took the extra effort to contact you and let you know that things are moving along. Nothing to worry about.

Btw, I personally feel that post-rate lock competing offers really should go to the processing expert as that person is more responsive that then loan officer is. It's not that they do the work, but they are better and following through to make it happen than the loan officer is IMO.
That was quick they came back with saying my competing LE rate wasn't on my rate table, but offered another $2,000 off my points. Lenderfi LE was 2% with $3810 in points and Better came back with 2.25% and $1900. What do you guys think?
Jul 2, 2020
2,898 Posts
Joined Sep 2010
Jul 2, 2020
tayninh
Jul 2, 2020
2,898 Posts
Quote from LeaninBack916 :
Definitely recommend for your CA folks to get quotes from Fidelity/Radian/etc for the title. From what I read here, and my experience, I got a title quote from Radian for $520 which was lower than the $920 originally stated by Better. In my case, they said they couldn't price match the section C but they would instead take away my $390 in points (.017 points) and it would net the same if i wanted to go that route. So now my ABC is just the Section B $67 and the Section C $920. Sure it was a $10 difference but I'd rather just use what they already had.

Fidelity quoted me $590. This was for a CA property, 230k loan estimate.

Also, they ordered an external appraisal only (free obviously with this deal) and man the appraisal was so low... $33k less than what I had just 4 months ago.. yet what sold in my area (without my fully paid solar and all new hvac/concrete adds/etc) had 3 properties that sold for $390k. They used one house that sold for $352k which was a short sale in bad condition as the #1 comparable to arrive at $355k. They told me my LTV was still fine but any lower and my rate would have gone up most likely. Truly pathetic.
So did you go with Fidelity or Better? Your attachment is for Better.

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Jul 2, 2020
1,412 Posts
Joined Jan 2020
Jul 2, 2020
SiennaDeer8270
Jul 2, 2020
1,412 Posts
Quote from polvoprismboy :
It was a little over 1k, but I am an employee of the bank I use, so wire fees are free 😎
That should be illegal.

You are basically admitting wiring doesn't really cost the bank anything. What a scam.
Jul 2, 2020
2,581 Posts
Joined Feb 2008
Jul 2, 2020
LeaninBack916
Jul 2, 2020
2,581 Posts
Quote from tayninh :
So did you go with Fidelity or Better? Your attachment is for Better.
Better's company they preferred after they price matched through manuevering in Section A. I was showing the example.
Jul 2, 2020
1,004 Posts
Joined Mar 2019
Jul 2, 2020
CycloneFW
Jul 2, 2020
1,004 Posts
Quote from SiennaDeer8270 :
That should be illegal.

You are basically admitting wiring doesn't really cost the bank anything. What a scam.
I imagine you are joking, but in case you are not -- many customer relationships or account types waive wire fees. polvo's bank probably includes employees in the qualifying criteria for fee waivers. Doesn't mean there isn't a charge (but also doesn't mean it costs them freaking $30+ or whatever to do a wire either).
Jul 2, 2020
1,773 Posts
Joined May 2006
Jul 2, 2020
baronvdb
Jul 2, 2020
1,773 Posts
Does anybody know if you have already had the free appraisal done by better.com and then back out of the deal and go with another lender if better.com will make you pay for the appraisal fee?
Jul 2, 2020
18 Posts
Joined May 2010
Jul 2, 2020
whizbala
Jul 2, 2020
18 Posts
Quote from unlvrebels :
I got 3.25% with about $1000 point fee from AIM Loan for a 15 year refinance (less than $200k) on an investment property. Better beat their offer and gave it without point fee.
What about AIM's origination fee? i have 800+ score and when i check now, i am getting 3.75% at $1000 in lenders fee. Anyone else that's competitive with investment properties?
Jul 2, 2020
110 Posts
Joined Jan 2007
Jul 2, 2020
Edge
Jul 2, 2020
110 Posts
The CEO of LenderFi called me today and apologized. Said they had a glitch in their system. Said he would still like to make it up to me and I agreed. Within 20 minutes, I got another call with a loan estimate and the actual documents emailed to me.

The best offer I've gotten from any lender for 15 years at 2.25%. Beats better.com by a lot.

I sent over to better.com for matching. Was told they would try, but this would be their last match.
Last edited by Edge July 2, 2020 at 01:21 PM.
Jul 2, 2020
39 Posts
Joined Feb 2016
Jul 2, 2020
Nobodyukno
Jul 2, 2020
39 Posts
So we can rate lock and then still price match after the fact? How does that really work if rates are moving in the mean time for the competing offer since they're based on the most recent rates?

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Jul 2, 2020
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Joined Sep 2010
Jul 2, 2020
tayninh
Jul 2, 2020
2,898 Posts
Quote from LeaninBack916 :
Better's company they preferred after they price matched through manuevering in Section A. I was showing the example.
I see. Just got off the phone with Better. They're asking me to send the LE from my current one with 2.65% to them. He doesn't seem convince that they would beat it.

My current quoted rate is 15yrs 2.65% 0pt and enough lender's credits to cover the cost in section J, but Better doesn't have any lender's credits. Not sure how you got 2.375% that low.

I have a $700k condo with loan amount $260k and in CA like you. Not sure how you can get such low rate. So what's your section J number and how much Lender Credits you'll be getting(before Amex $2500)?

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