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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
145 Posts
Joined Nov 2009
Jul 2, 2020
smile17
Jul 2, 2020
145 Posts
Quote from avatar13 :
I am doing a refinance on my home using the Better Amex offer. Anyone think it's necessary to get an attorney to review the docs? I bought my home before I got married however now that I'm married not sure if the refi title will be different since Texas has community property laws that kind of complicate things.
If you're worrying about community property in Texas, talk to an attorney before you sign anything. I'm not a lawyer but refinancing when you're married could mean you convert your personal property to community property. I might be wrong but it can be an expensive mistake if you don't know what you're getting into and God forbids something happen to your marriage.
Jul 2, 2020
12 Posts
Joined Jun 2020
Jul 2, 2020
tganz1993
Jul 2, 2020
12 Posts
I just finished up the title process. Since July mortgage payments just posted, should I be asking Better to redo the payoff amount (aka loan amount) or is this done automatically? This is my first time refinancing our first home so was not entire sure how that part works....
Jul 2, 2020
645 Posts
Joined May 2013
Jul 2, 2020
MBster
Jul 2, 2020
645 Posts
Quote from tganz1993 :
I just finished up the title process. Since July mortgage payments just posted, should I be asking Better to redo the payoff amount (aka loan amount) or is this done automatically? This is my first time refinancing our first home so was not entire sure how that part works....
Same thing happened with me for the June payment. You need to proactively tell Better to downward adjust the loan amount or risk it becoming a cash out refi which would suck.
Jul 2, 2020
3,275 Posts
Joined Feb 2014
Jul 2, 2020
iuku
Jul 2, 2020
3,275 Posts
Quote from arl16 :
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
+1 on this one, anyone can share the knowledge
Jul 2, 2020
111 Posts
Joined Apr 2009
Jul 2, 2020
Larroo
Jul 2, 2020
111 Posts
Quote from iuku :
+1 on this one, anyone can share the knowledge
Title-Admin Process Fee - TYPICALLY CLOSING ATTORNEY
Title-Attorney Fee - CLOSING ATTORNEY
Title-Closing Protection Letter - CLOSING ATTORNEY
Title-Commitment - ??
Title-Endorsements - ??
Title-Lenders Title Insurance - TITLE COMPANY (shop around)
Title-Settlement Fee - CLOSING ATTORNEY
Jul 2, 2020
899 Posts
Joined Aug 2010
Jul 2, 2020
JetBlast
Jul 2, 2020
899 Posts
Quote from tganz1993 :
I just finished up the title process. Since July mortgage payments just posted, should I be asking Better to redo the payoff amount (aka loan amount) or is this done automatically? This is my first time refinancing our first home so was not entire sure how that part works....
You can check with your closing expert, but one of the tasks is to confirm whether or not you made your July payment. Mine was also posted and my closing expert said she already requested the updated payoff.
Jul 2, 2020
899 Posts
Joined Aug 2010
Jul 2, 2020
JetBlast
Jul 2, 2020
899 Posts
Has anyone successfully received cash back at closing from Better. I can't get anyone over there to answer why they reduced my loan amount from the LE that was originally showing cash to borrower at close.

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Jul 2, 2020
1,258 Posts
Joined Oct 2007
Jul 2, 2020
micky_d
Jul 2, 2020
1,258 Posts
What's typical closing costs they are charging ? I hope they are not rolling into loan amount. I checked couple of local lenders and they are quoting closing cost for refinancing at about $4-5k and that's consistent including bunch of fees. Are these guys cutting down that for you ?
Pro
Jul 2, 2020
5,054 Posts
Joined Jul 2006
Jul 2, 2020
shahhere
Pro
Jul 2, 2020
5,054 Posts
Quote from micky_d :
What's typical closing costs they are charging ? I hope they are not rolling into loan amount. I checked couple of local lenders and they are quoting closing cost for refinancing at about $4-5k and that's consistent including bunch of fees. Are these guys cutting down that for you ?

Dont consider all closing costs out of pocket as escrows are what you'd pay anyways (unless you have them waived).
  • Origination, Points, Credit Fee, Appraisal, Flood Cert are all fees the Lenders control.
  • Title Related fees (depends on state) are considered 3rd party fees and what you can shop for and bring your own (dont wait too long as that will delay closing).
  • Pre-Paid taxes are standard across Lender and will depend on when you close.
  • Lastly, the escrows are what the lender collects on your behalf and are standard.
All the above are what show up on your Loan Estimate (A, B, C, D, E, G, H section).


If you have escrows already built up then you'll get them refunded when you close from existing lender to you. This is what many people have to bring back to the table but not have on hand so you'll shell out 4-6k but will get back that if you already have that built up with the existing lender.


Shahhere
Jul 3, 2020
1,412 Posts
Joined Jan 2020
Jul 3, 2020
SiennaDeer8270
Jul 3, 2020
1,412 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)​
Hard drive? You can do this entire process just on your phone. That's the beauty of better.com.
Jul 3, 2020
1,258 Posts
Joined Oct 2007
Jul 3, 2020
micky_d
Jul 3, 2020
1,258 Posts
Quote from shahhere :
Dont consider all closing costs out of pocket as escrows are what you'd pay anyways (unless you have them waived).
  • Origination, Points, Credit Fee, Appraisal, Flood Cert are all fees the Lenders control.
  • Title Related fees (depends on state) are considered 3rd party fees and what you can shop for and bring your own (dont wait too long as that will delay closing).
  • Pre-Paid taxes are standard across Lender and will depend on when you close.
  • Lastly, the escrows are what the lender collects on your behalf and are standard.
All the above are what show up on your Loan Estimate (A, B, C, D, E, G, H section).


If you have escrows already built up then you'll get them refunded when you close from existing lender to you. This is what many people have to bring back to the table but not have on hand so you'll shell out 4-6k but will get back that if you already have that built up with the existing lender.


Shahhere
I have spoken with couple of lenders and I don't ask include escrow when I am talking about closing costs. And it may seem attractive to jump on to a $100-200 lower per month payments but with $5000 rolled into you loan you will need at least 2-3 years ( $200x25 months) when you are even out. If you are absolutely certain on staying in home for say next 4-5 years then only it makes sense to refinance. For my case, that's a bit tricky decision. And not mention it after saying in a place for 6-7 years with 30 year mortgage , you are refinancing again for 30 years then you are restarting you pay more of interest over time. The math has to make sense in both cases. I hope most of people here thinking or at least are aware of that.
Jul 3, 2020
1,006 Posts
Joined Jan 2008
Jul 3, 2020
lowmazda
Jul 3, 2020
1,006 Posts
Quote from tganz1993 :
I just finished up the title process. Since July mortgage payments just posted, should I be asking Better to redo the payoff amount (aka loan amount) or is this done automatically? This is my first time refinancing our first home so was not entire sure how that part works....
how long did the title process take?
Pro
Jul 3, 2020
5,054 Posts
Joined Jul 2006
Jul 3, 2020
shahhere
Pro
Jul 3, 2020
5,054 Posts
Quote from micky_d :
I have spoken with couple of lenders and I don't ask include escrow when I am talking about closing costs. And it may seem attractive to jump on to a $100-200 lower per month payments but with $5000 rolled into you loan you will need at least 2-3 years ( $200x25 months) when you are even out. If you are absolutely certain on staying in home for say next 4-5 years then only it makes sense to refinance. For my case, that's a bit tricky decision. And not mention it after saying in a place for 6-7 years with 30 year mortgage , you are refinancing again for 30 years then you are restarting you pay more of interest over time. The math has to make sense in both cases. I hope most of people here thinking or at least are aware of that.
Micky,

I agree but I'm doing mine and taking money back on negative points/ credit. My balance is high enough where I'm disciplined enough to save and pay aggressively when rates are high or balance is low to pay more towards principle.

Shahhere
Jul 3, 2020
1,004 Posts
Joined Mar 2019
Jul 3, 2020
CycloneFW
Jul 3, 2020
1,004 Posts
Quote from micky_d :
And not mention it after saying in a place for 6-7 years with 30 year mortgage , you are refinancing again for 30 years then you are restarting you pay more of interest over time.
Only if you pay the MINIMUM payment on the new 30-year vs. a higher amount to have same effective remaining term as your prior mortgage. There is no need to extend term in reality, even if you did on paper.

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Jul 3, 2020
274 Posts
Joined Jul 2017
Jul 3, 2020
arl16
Jul 3, 2020
274 Posts
Quote from Larroo :
Title-Admin Process Fee - TYPICALLY CLOSING ATTORNEY
Title-Attorney Fee - CLOSING ATTORNEY
Title-Closing Protection Letter - CLOSING ATTORNEY
Title-Commitment - ??
Title-Endorsements - ??
Title-Lenders Title Insurance - TITLE COMPANY (shop around)
Title-Settlement Fee - CLOSING ATTORNEY
I think the closing protection letter is from title company

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