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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM

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:

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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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Jul 07, 2020 12:23 AM
227 Posts
Joined Apr 2006
jazzman161Jul 07, 2020 12:23 AM
227 Posts
Quote from CycloneFW :
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 07, 2020 12:26 AM
3,730 Posts
Joined Oct 2010
k1ngkev1n1Jul 07, 2020 12:26 AM
3,730 Posts
Quote from Debit2Cash :
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 $$2000 in pts plus fees.. 235k refi in CA
Jul 07, 2020 12:35 AM
1,007 Posts
Joined Mar 2019
CycloneFWJul 07, 2020 12:35 AM
1,007 Posts
Quote from jazzman161 :
Thanks, was avoiding going that route but guess that's what needs to be done.
Another option is to call their main line and have them close out the existing refi's file on your account. Then you can open a new one for the existing property. Since you don't have to worry about the Amex credit from the prior refi, that should work. I didn't go this route as my prior credit hasn't posted yet and I didn't want to complicate things.
Jul 07, 2020 12:56 AM
39 Posts
Joined Feb 2016
NobodyuknoJul 07, 2020 12:56 AM
39 Posts
Quote from k1ngkev1n1 :
i just submitted my LE from loan cabin, 30 yr, 2.62% $900 in points. $1500 in closing costs roughly. lowest from better was 2.75% with $$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 07, 2020 12:59 AM
4,660 Posts
Joined Mar 2006
PhasersJul 07, 2020 12:59 AM
4,660 Posts
Quote from CycloneFW :
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 07, 2020 01:53 AM
569 Posts
Joined Sep 2005
bumofthedayJul 07, 2020 01:53 AM
569 Posts
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 07, 2020 01:54 AM
366 Posts
Joined Nov 2009
dark530Jul 07, 2020 01:54 AM
366 Posts
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 07, 2020 02:14 AM
569 Posts
Joined Sep 2005
bumofthedayJul 07, 2020 02:14 AM
569 Posts
Quote from dark530 :
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 07, 2020 03:13 AM
228 Posts
Joined Jan 2011
j1s2Jul 07, 2020 03:13 AM
228 Posts
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 07, 2020 04:10 AM
267 Posts
Joined Sep 2016
hdlkJul 07, 2020 04:10 AM
267 Posts
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 07, 2020 11:10 AM
904 Posts
Joined Nov 2017
gk6740Jul 07, 2020 11:10 AM
904 Posts
Quote from j1s2 :
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 07, 2020 02:05 PM
900 Posts
Joined Aug 2010
JetBlastJul 07, 2020 02:05 PM
900 Posts
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 07, 2020 02:12 PM
1,543 Posts
Joined Sep 2005
ProcterJul 07, 2020 02:12 PM
1,543 Posts
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 07, 2020 02:18 PM
352 Posts
Joined Dec 2019
wandlJul 07, 2020 02:18 PM
352 Posts
Quote from JetBlast :
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 07, 2020 02:30 PM
207 Posts
Joined Nov 2011
BlakeKJul 07, 2020 02:30 PM
207 Posts
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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