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Greenworld123 1.4M Views
Dec 8, 2019 2:27 PM

Amex offer: $2,500 statement credit for home refinance Better.com

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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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Jul 7, 2020 12:23 AM
227 Comments
Joined Apr 2006
jazzman161Jul 7, 2020 12:23 AM
227 Comments
Quote from CycloneFW View quoted comment :
Register with a different email address than the one you used last time. Alternatively, log into the old account and change it's email address to a different one and now register with the original email address.
Thanks, was avoiding going that route but guess that's what needs to be done.
Jul 7, 2020 12:26 AM
3.8K Comments
Joined Oct 2010
k1ngkev1n1Jul 7, 2020 12:26 AM
3.8K Comments
Quote from Debit2Cash View quoted comment :
I guess we will have to see how this goes....Betters lowest rate for me on a 30 year conventional is 3% with $3900 in closing costs. I got a competing rate at 2.75% with $845 in closing costs (origination fees less lender credits). I guess we will see if better gives me a 2.75% rate with a $155 credit for closing costs after $1000 rate match. Seems like a pretty big swing. The last time 2 months ago it wasn't nearly as big.
i just submitted my LE from loan cabin, 30 yr, 2.62% $900 in points. $1500 in closing costs roughly. lowest from better was 2.75% with $$2000 in pts plus fees.. 235k refi in CA
Jul 7, 2020 12:35 AM
1K Comments
Joined Mar 2019
CycloneFWJul 7, 2020 12:35 AM
1K Comments
Quote from jazzman161 View quoted comment :
Thanks, was avoiding going that route but guess that's what needs to be done.
Another option is to call their main line and have them close out the existing refi's file on your account. Then you can open a new one for the existing property. Since you don't have to worry about the Amex credit from the prior refi, that should work. I didn't go this route as my prior credit hasn't posted yet and I didn't want to complicate things.
Jul 7, 2020 12:56 AM
40 Comments
Joined Feb 2016
NobodyuknoJul 7, 2020 12:56 AM
40 Comments
Quote from k1ngkev1n1 View quoted comment :
i just submitted my LE from loan cabin, 30 yr, 2.62% $900 in points. $1500 in closing costs roughly. lowest from better was 2.75% with $$2000 in pts plus fees.. 235k refi in CA
Loan cabin quoted me at 2.62% as well $360 in points for 30 years. Waiting on an official LE. I was talking with my rep from Better today and he said he would be able to get me down to 3.125% and no points. If I look online at Better right now I see 3.125% at $1,350 in points. How is there such a huge difference between Loan Cabin? I thought Better was pretty competitive.
Jul 7, 2020 12:59 AM
4.7K Comments
Joined Mar 2006
PhasersJul 7, 2020 12:59 AM
4.7K Comments
Quote from CycloneFW View quoted comment :
Better's Fine Print on the Better Price Guarantee reserves them the right not to beat by $1k a competing estimate for the refinance of a mortgage (on the same property) that they originated within the past 6 months. Doesn't mean they won't compete with the offer, but they don't "guarantee" to beat it by $1k, as much as their "guarantee" actually was one.
Good thing I am at 7 months Smilie
Jul 7, 2020 1:53 AM
569 Comments
Joined Sep 2005
bumofthedayJul 7, 2020 1:53 AM
569 Comments
Closing tomorrow, here is my timeline

6/22 - initial application with pre-approval
6/23 - got competing loan estimate and rate locked with better, appraisal ordered
6/24 - title report ordered
6/26 - title report cleared
6/30 - appraisal conducted, report received late that night
6/30 - better beat local title company estimate, knocked off $700
7/2 - Initial closing disclosures recieved
7/6 - Final closing disclosures
7/7 - Anticipated closing
7/13 - Anticipated funding
Jul 7, 2020 1:54 AM
390 Comments
Joined Nov 2009
dark530Jul 7, 2020 1:54 AM
390 Comments
Sorry folks, dumb question. How far along in the process do you have to get to get the competing LEs? Do I have to actually lock the rate? Pre-qualify?

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Jul 7, 2020 2:14 AM
569 Comments
Joined Sep 2005
bumofthedayJul 7, 2020 2:14 AM
569 Comments
Quote from dark530 View quoted comment :
Sorry folks, dumb question. How far along in the process do you have to get to get the competing LEs? Do I have to actually lock the rate? Pre-qualify?
You can get them at any point after application. Note that better will only match offers dated within 1 business day.
Jul 7, 2020 3:13 AM
238 Comments
Joined Jan 2011
j1s2Jul 7, 2020 3:13 AM
238 Comments
Anyone cancelled a loan application with one lender and go with a different lender? My current lender has been sitting on it for over 50 days. Wonder if I should worry about anything before I cancel and go with someone else? Looking at loan cabin/better it seems like i can get at least .25 better rate.
Jul 7, 2020 4:10 AM
276 Comments
Joined Sep 2016
hdlkJul 7, 2020 4:10 AM
276 Comments
I started an application on better.com today. Does anyone know where I can find a good competing LE for a condo that is classified as a second home? (it's the only property I own but I am currently living away from it and I'm not sure I will be able to prove it as a primary residence at the moment)

Is something in the low 3s or lower possible for 30 years fixed with little to no closing costs? My current rate is 3.5%

I see Loan Cabin with 2.625% but with $1,598 in points (so the cost is too much for me) and they have rates only for a primary residence
Last edited by hdlk July 6, 2020 at 09:12 PM.
Jul 7, 2020 11:10 AM
908 Comments
Joined Nov 2017
gk6740Jul 7, 2020 11:10 AM
908 Comments
Quote from j1s2 View quoted comment :
Anyone cancelled a loan application with one lender and go with a different lender? My current lender has been sitting on it for over 50 days. Wonder if I should worry about anything before I cancel and go with someone else? Looking at loan cabin/better it seems like i can get at least .25 better rate.
You would serve yourself well to read all the posts from the past week or so.

Yes... most of the folks here I would say. I opened 6-7 applications. Actually had a lock on two of them. Sitting for 50 days? Drop them, NOW. Have you read folks that are closing in under a month?
Jul 7, 2020 2:05 PM
922 Comments
Joined Aug 2010
JetBlastJul 7, 2020 2:05 PM
922 Comments
Will my current escrow balance with my previous mortgage company be refunded to me or will that balance carry over to my next loan?

I'm not understanding why Better wants me to escrow 10 months up front when I already have 6 months of escrow accrued.
Jul 7, 2020 2:12 PM
1.6K Comments
Joined Sep 2005
ProcterJul 7, 2020 2:12 PM
1.6K Comments
Best I got so far is from my local guy beating an out-of-state bank, 3% with 2k cost (govt fees and tax included) for a jumbo loan (72% LTV). I'm in VA so no better.com option, only Rocket Mortgage, and their quote was 3% with 5k cost all included.
Jul 7, 2020 2:18 PM
354 Comments
Joined Dec 2019
wandlJul 7, 2020 2:18 PM
354 Comments
Quote from JetBlast View quoted comment :
Will my current escrow balance with my previous mortgage company be refunded to me or will that balance carry over to my next loan?

I'm not understanding why Better wants me to escrow 10 months up front when I already have 6 months of escrow accrued.
I closed by Better refi in early June - your previous escrow will be refunded to you (for me it took about a month). And the escrow balance is negotiable for Better - they asked for 11 months upfront, I told them nope and they went to 6 months.

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Jul 7, 2020 2:30 PM
207 Comments
Joined Nov 2011
BlakeKJul 7, 2020 2:30 PM
207 Comments
Just closed with 2.75% 30 year with better and $1400 Lender Credit. Anyone have anything below 2.75% may do another refi if I can get lower rate with lender credits that cover costs.

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