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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 2, 2020
900 Posts
Joined Nov 2017
Jul 2, 2020
gk6740
Jul 2, 2020
900 Posts
Quote from SiennaDeer8270 :
That should be illegal.

You are basically admitting wiring doesn't really cost the bank anything. What a scam.
re: employee getting free wire transfer.

How does the fact an employee gets free wire transfers mean they do not cost the bank anything. I know a daycare that gives free daycare to directors. Does that mean it is free. I know of an amusement park that gives employees free admission. Does that mean it should be free for everyone? Of course wiring costs money. There are a couple of employees that have to take time to do it.

Some people go through thinking everything is a scam and everyone is out to get them.

Sorry for them.
Jul 2, 2020
703 Posts
Joined Jan 2013
Jul 2, 2020
user017
Jul 2, 2020
703 Posts
Quote from KrustyVT :
For CA property owners, a heads up that the owning.com rate for a 30 year fixed refi, up to $765k, dropped to 2.99% today, with no closing costs - the lowest I've seen it since I've been tracking since October, 2019.

As of 7/2, all with no closing costs:

15 year fixed, up to $510k - 2.5%
15 year fixed, up to $765k - 2.75%
30 year fixed, up to $510k - 2.75%
30 year fixed, up to $765k - 2.99%
Rep'd

Where do you track? I am at 3.37. No one is coming down for Jumbo loans.
Jul 2, 2020
2,898 Posts
Joined Sep 2010
Jul 2, 2020
tayninh
Jul 2, 2020
2,898 Posts
Quick question. When you send Loan Estimate to have another lender match the rate, do you send the whole PDF file or just page the first couple of pages with sections breakdown? I feel it's too much info to share in the whole PDF file.
Jul 2, 2020
900 Posts
Joined Nov 2017
Jul 2, 2020
gk6740
Jul 2, 2020
900 Posts
Quote from tayninh :
Quick question. When you send Loan Estimate to have another lender match the rate, do you send the whole PDF file or just page the first couple of pages with sections breakdown? I feel it's too much info to share in the whole PDF file.
I just send those 2-3 pages with the estimate.

As I save them to my hard drive I label them with company my name and date. I think I had about 15 of them overall on this go around. (6 banks I think)​
Jul 2, 2020
2,898 Posts
Joined Sep 2010
Jul 2, 2020
tayninh
Jul 2, 2020
2,898 Posts
Quote from gk6740 :
I just send those 2-3 pages with the estimate.

As I save them to my hard drive I label them with company my name and date. I think I had about 15 of them overall on this go around. (6 banks I think)​
Nice. Thanks.
Jul 2, 2020
6,123 Posts
Joined Jun 2005
Jul 2, 2020
PhantasmX
Jul 2, 2020
6,123 Posts
Anyone know a refinancing firm that does not require flood insurance for rental property?
Jul 2, 2020
899 Posts
Joined Aug 2010
Jul 2, 2020
JetBlast
Jul 2, 2020
899 Posts
I got my final closing disclosure from Better and they reduced the loan amount by what was due to me at closing. I've asked them if I can get the cash back at close instead. Let's see what they say. If not, I will buy down the rate to 2.75%.

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Jul 2, 2020
274 Posts
Joined Jul 2017
Jul 2, 2020
arl16
Jul 2, 2020
274 Posts
Can someone please help me understand which of the costs in SECTION C of LE actually are controlled by the TITLE COMPANY and which ones are controlled by the CLOSING ATTORNEY? Thanks a lot in advance!

Title-Admin Process Fee
Title-Attorney Fee
Title-Closing Protection Letter
Title-Commitment
Title-Endorsements
Title-Lenders Title Insurance
Title-Settlement Fee
Pro
Jul 2, 2020
5,854 Posts
Joined Dec 2008
Jul 2, 2020
bluetrep
Pro
Jul 2, 2020
5,854 Posts
How do you start with better? Online by providing SSN hard pull? Or call ?
Jul 2, 2020
2,581 Posts
Joined Feb 2008
Jul 2, 2020
LeaninBack916
Jul 2, 2020
2,581 Posts
Quote from tayninh :
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)?
I get zero lender credits. I would have been paying $390 in points to get my 2.375% if it handnt been for the title company price match which they did for section A. Maybe because it's a condo? Or maybe the LTV is just so low? I can't tell you the exact reason. Mine is a 3 bed/2ba single family house.

I will say from experience these "concierge" always seem unsure. Just submit it. I got 2.375% with guaranteed rate giving me an LE with $1390 in points. Arnold seemed very unsure also when i finally got a reply from him. Then they did it and beat it by $1000 on points to make $390. You just really need to get a great rate elsewhere. Just lots of shopping around is all. I got 6 different quotes.
Pro
Jul 2, 2020
5,854 Posts
Joined Dec 2008
Jul 2, 2020
bluetrep
Pro
Jul 2, 2020
5,854 Posts
Hard pull for every quote?


Quote from LeaninBack916 :
I get zero lender credits. I would have been paying $390 in points to get my 2.375% if it handnt been for the title company price match which they did for section A. Maybe because it's a condo? Or maybe the LTV is just so low? I can't tell you the exact reason. Mine is a 3 bed/2ba single family house.

I will say from experience these "concierge" always seem unsure. Just submit it. I got 2.375% with guaranteed rate giving me an LE with $1390 in points. Arnold seemed very unsure also when i finally got a reply from him. Then they did it and beat it by $1000 on points to make $390. You just really need to get a great rate elsewhere. Just lots of shopping around is all. I got 6 different quotes.
Jul 2, 2020
2,581 Posts
Joined Feb 2008
Jul 2, 2020
LeaninBack916
Jul 2, 2020
2,581 Posts
Quote from PhantasmX :
Anyone know a refinancing firm that does not require flood insurance for rental property?
My understanding is any federally back loan is required to have flood insurance escrowed on it (in essence, making sure its paid). I looked into this more out of being able to pay it myself and I was told its a federal rule that you can't get out of for federally back loans. Which... would tell me it may be possible but the rate would be higher somewhere else that doesnt use the big giants.
Jul 2, 2020
2,581 Posts
Joined Feb 2008
Jul 2, 2020
LeaninBack916
Jul 2, 2020
2,581 Posts
Quote from bluetrep :
Hard pull for every quote?
Yes for 4 of them and my credit profile dropped exactly 3 points from 798 to 795. Within 3 months it'll be like it never happened.
Pro
Jul 2, 2020
5,054 Posts
Joined Jul 2006
Jul 2, 2020
shahhere
Pro
Jul 2, 2020
5,054 Posts
Quote from bluetrep :
Hard pull for every quote?

As noted numerous times it doesn't matter; especially in the long run if you are disciplined.

If you are going to shop and get Loan Estimates and have lenders compete this is the only way to do it as you have to have them run credit and atleast apply without paying anything out of pocket or maybe a credit pull charge (20-40). Inquiries in a 15 day period for the same thing get bunched and are not big enough unlike other hard pulls.


I refinance/d a lot and have noticed a 7-11 point drop after a hard pull and after the loan is put under your name. One reason is because you technically have 2 Loans under your name for a small period of time causing that drop. Each succession month it went back up 3 or so points and so in 3 months its all a wash or sooner.



I was not convinced that Better would go down from 3.325% with $2600 2.75% with $400 in Credit after a Competing LE was sent. Thats a big drop of thousands based on the Loan Estimates.....

Shahhere
Last edited by shahhere July 2, 2020 at 02:36 PM.

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Jul 2, 2020
2,581 Posts
Joined Feb 2008
Jul 2, 2020
LeaninBack916
Jul 2, 2020
2,581 Posts
Quote from shahhere :
As noted numerous times it doesnt matter; especially in the long run if you are disciplined.


If you are going to shop and get Loan Estimates and have lenders compete this is the only way to do it as you have to have them run credit and atleast apply without paying anything out of pocket or maybe a credit pull charge (20-40). Inquiries in a 15 day period for the same thing get bunched and are not big enough unlike other hard pulls.


I was not convinced that Better would go down from 3.325% with $2600 2.75% with $400 in Credit after a Competing LE was sent. Thats a big drop of thousands based on the Loan Estimates.....


Shahhere
My original quote from them was my 15 year for 2.75% for $802 in points and went to 2.375% with $390 in points after they beat the offer I got. So, I will hope you get the same kind of luck.

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