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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 10, 2020
899 Posts
Joined Aug 2010
Jul 10, 2020
JetBlast
Jul 10, 2020
899 Posts
Quote from ttlax :
Better just declined to match the LE (high tech lending) I sent them. 2.625% and no points (~200 in lender fees). They said the rates on my account were the best they could do. They were very prompt and easy to deal with...it only took them an hour to tell me "no way!". The same rate on better cost 9,000.
My closing expert was somehow able to get me additional credit to match Loan Cabin.

$3k in credits to get 2.75%. I don't think I can do better at this time,
Jul 10, 2020
205 Posts
Joined Aug 2013
Jul 10, 2020
SomeXYZ
Jul 10, 2020
205 Posts
American Federal Mortgage asking me $750 locking fee.
Jul 10, 2020
1,541 Posts
Joined Sep 2005
Jul 10, 2020
Procter
Jul 10, 2020
1,541 Posts
I want to ask a generic question regarding "rate lock". Can I back out after the "rate lock" when working with a local loan broker? I see a lot of you guys when dealing with Better, you can further negotiate the rate down after the "rate lock". I locked with my local guy at 3% with 2k in cost (All included, govt fees, tittle etc) with my jumbo loan. I have been checking zillow and other sites and noticed that the rate seems to be down a bit (I can now see 2.75%/2.875 quote with about 4k all-included cost). I tried to test my local guy about "floatdown", but answer I got was not until a drop of 0.5%. I'm wondering what I can do to further better my deal (when I locked, my local guy actually beat the online quote in terms of the out-of-pocket cost by 500).
Jul 10, 2020
126 Posts
Joined Oct 2018
Jul 10, 2020
David9569
Jul 10, 2020
126 Posts
Just got off a call from Watermark (I'm in Philly suburbs too). At 2.625 they offered me $730 back but they have $1500 origination fees. So about $800 of their costs. This is worse than loancabin's site showed, but they haven't gotten back to me yet after my application 2 days ago.
Jul 10, 2020
350 Posts
Joined Jun 2012
Jul 10, 2020
flyeaglesfly33
Jul 10, 2020
350 Posts
Quote from David9569 :
Just got off a call from Watermark (I'm in Philly suburbs too). At 2.625 they offered me $730 back but they have $1500 origination fees. So about $800 of their costs. This is worse than loancabin's site showed, but they haven't gotten back to me yet after my application 2 days ago.
I am doing a 15 year and the difference between loancabin and watermark both at 2.25% was ~$150 in lenedrs credit, with warermark being lower. I had already gotten a LE from wm, which better matched, before i even heard back from loancabin.
Jul 10, 2020
352 Posts
Joined Dec 2019
Jul 10, 2020
wandl
Jul 10, 2020
352 Posts
Quote from SDRebel :
what's the quickest that anyone has done a second round? e.g. days after closing first round ( I closed today, but thinking about round 2)
I'm currently going through my 2nd round about 27 days after I closed the first refi (early June).
Better's rates are (for me) completely not competitive this time around, so going checking out LoanCabin and, based on what I read 3 minutes ago, Watermark.
Jul 10, 2020
3,202 Posts
Joined Feb 2004
Jul 10, 2020
mnsweeps
Jul 10, 2020
3,202 Posts
Entered the last 5 digits of AMEX in my last pending task and closing all set for 7/14.

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Jul 10, 2020
41,432 Posts
Joined Apr 2006
Jul 10, 2020
SDRebel
Jul 10, 2020
41,432 Posts
Quote from wandl :
I'm currently going through my 2nd round about 27 days after I closed the first refi (early June).
Better's rates are (for me) completely not competitive this time around, so going checking out LoanCabin and, based on what I read 3 minutes ago, Watermark.
thanks. did you wait until they transferred your loan or what made you wait that time?
Jul 10, 2020
499 Posts
Joined Aug 2006
Jul 10, 2020
vfx
Jul 10, 2020
499 Posts
Anyone is doing jumbo loan with 800K. Can you let me know the loan provider and rate. TIA. Asking for my friend...
Pro
Jul 10, 2020
5,048 Posts
Joined Jul 2006
Jul 10, 2020
shahhere
Pro
Jul 10, 2020
5,048 Posts
Quote from SomeXYZ :
American Federal Mortgage asking me $750 locking fee.

$750 Locking fee? About 8-10 years ago everyone used to charge an Application Fee which ranged from $50-500 and was nothing short of a scam lol.


In the last 6 years I've never paid that and possibly is a deterrent so people dont shop but on this forum and my other thread no one has noted paying a fee for Locking. If anything the only fee I know of is for running Credit for $20-45 which again is only by 2 lenders.


I spoke to a guy named Tony, and he was nice but if thats what they are quoting I'd run or get a clarification.



Shahhere
Jul 10, 2020
205 Posts
Joined Aug 2013
Jul 10, 2020
SomeXYZ
Jul 10, 2020
205 Posts
He is doubting that I might go away after I take LE
Jul 10, 2020
2,520 Posts
Joined Aug 2007
Jul 10, 2020
sleekwallet
Jul 10, 2020
2,520 Posts
Quote from SomeXYZ :
He is doubting that I might go away after I take LE

hahaha well, he should give you the best estimate and you wont go away that way.
Pro
Jul 10, 2020
5,048 Posts
Joined Jul 2006
Jul 10, 2020
shahhere
Pro
Jul 10, 2020
5,048 Posts
Quote from SomeXYZ :
He is doubting that I might go away after I take LE
Quote from sleekwallet :
hahaha well, he should give you the best estimate and you wont go away that way.

Who's the guy you are working with? Post his name here so we know as well.


As for the cost; unless you are getting a stellar rate that is to your advantage I'd look elsewhere and drop these guys. Even if things go your way but what if you run into issues later and you'd want to change your mind?



I say this because this is not the norm based on all the replies...


Shahhere
Jul 10, 2020
205 Posts
Joined Aug 2013
Jul 10, 2020
SomeXYZ
Jul 10, 2020
205 Posts
Quote from shahhere :
Who's the guy you are working with? Post his name here so we know as well.


As for the cost; unless you are getting a stellar rate that is to your advantage I'd look elsewhere and drop these guys. Even if things go your way but what if you run into issues later and you'd want to change your mind?



I say this because this is not the norm based on all the replies...


Shahhere



Michael Young

American Federal Mortgage Corp.

360 Route 24

Chester, NJ 07930



Direct: 862-259-3162

Fax: 866-709-3898

Main: 973-927-0400

Email: [email protected]

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Jul 10, 2020
607 Posts
Joined Jan 2006
Jul 10, 2020
marsgamer
Jul 10, 2020
607 Posts
I am currently in process of refinancing with better in Approval state. Started on July 2nd.
Meanwhile I am also planning to offer on a different house which we liked and got preapproval for it.

Do you know if I need to wait for refinancing to be done and then move with buying a new house or doing both in parallel is okay?

We don't want to lose the house we saw so want to move forward with our offer.

Thanks.

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