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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If you had a loan for $300k, and then sold the house a month later, you would have to pay off the loan with a balance of around $299,800 (rough estimate). And if you had given the $50k of interest, what do you think would happen to that $50k? Tough $shit.
But, if you had paid $50k in principle, you would then owe only $249,800.
The interest is not fixed for 30 years. The percent is fixed and it is applied monthly towards the current balance.
I have heard difficult to get good rates on 30 year fixed jumbo loans for refinance.
I think I have only talked to someone on the phone maybe once. Maybe none. Got at least 4 different LE from them before I locked. Got emails from various people as it moved through the process including their title company. Sent a better title estimate and lowered it the same day to match. From first email to final disclosure was about 10 days. Mainly because I sent them multiple competing LE. I am doing a $180k refi with 746 FICO, 30% LTV.
Got note today asking for AMEX account for eventual credit. Closing has $2,200 for all costs and a $1210 credit from lender. So about $1000 for closing, and $2500 credit later.
I just had them locked in at 2.625% 15yrs after they matched another LE. It comes with around $3k lender credits. Since I didn't hit the Amex link when I started the agent said he was able to tag it to my account as if I did so I think/hope I'll get the $2,500 credit later on. For some reason I was not able to bypass the appraisal process so will have to schedule it and pay $550.
2. Regarding previous 2 bank statement - Before the rate lock my account shows money going out(transferred to my wife account for deposit) and money coming in(moved money from my other bank account) apart from this there is nothing more. Is this bank account good for me to provide the statements or they will be more inside scrutiny and they will ask me my wife bank account details and the other bank account where I got the money from etc.
Thanks
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2. Regarding previous 2 bank statement - Before the rate lock my account shows money going out(transferred to my wife account for deposit) and money coming in(moved money from my other bank account) apart from this there is nothing more. Is this bank account good for me to provide the statements or they will be more inside scrutiny and they will ask me my wife bank account details and the other bank account where I got the money from etc.
Thanks
2) Depends. They are just looking to verify enough money to cover closing costs. With all the money moving around, did you always have at least a balance of more than your closing costs? If so it shouldnt be an issue. They are just trying to not get in trouble with the feds.
For most people, paying point doesnt seem to be worthwhile, unless you know for a fact you dont plan on selling the house, refi'ing over the next several years.
2. Regarding previous 2 bank statement - Before the rate lock my account shows money going out(transferred to my wife account for deposit) and money coming in(moved money from my other bank account) apart from this there is nothing more. Is this bank account good for me to provide the statements or they will be more inside scrutiny and they will ask me my wife bank account details and the other bank account where I got the money from etc.
Thanks
re: Bank Account : It all depends on the admin person. They check boxes as each item is reviewed and approved. If they look at just that, the next question COULD be - and how do you pay all your bills? Or they never ask.
For most people, paying point doesnt seem to be worthwhile, unless you know for a fact you dont plan on selling the house, refi'ing over the next several years.
This is anecdotal, of course, but I found that lenders who like to push the points thing are really just trying to hide the fact that their base rate is too high to begin with. There are lenders out there with low rates and no points, so the trick is to just shop around for the best APR.
This is anecdotal, of course, but I found that lenders who like to push the points thing are really just trying to hide the fact that their base rate is too high to begin with. There are lenders out there with low rates and no points, so the trick is to just shop around for the best APR.
re: Bank Account : It all depends on the admin person. They check boxes as each item is reviewed and approved. If they look at just that, the next question COULD be - and how do you pay all your bills? Or they never ask.
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