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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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9,848 Comments

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Jul 11, 2020 02:48 PM
491 Posts
Joined Feb 2012
Mikey122687Jul 11, 2020 02:48 PM
491 Posts
Quote from micky_d :
That's strange. Not sure what happened ? Who was the loan officer ?
Mak Bonakdar
Jul 11, 2020 02:56 PM
1,600 Posts
Joined Mar 2005
jrlcopyJul 11, 2020 02:56 PM
1,600 Posts
Woooo!

Closed on 5/29, just received my credit on 6/27, just noticed it today.
Jul 11, 2020 03:01 PM
1,275 Posts
Joined Oct 2007
micky_dJul 11, 2020 03:01 PM
1,275 Posts
Quote from shnega :
I got an estimate from LoanDepot
2.75% 30Year A+B+C = $3230, E+F+G+H = $9200
How can I reduce these amounts

I scheduled a call with Sean from better.com..
F-H cost is more in escrow , typically they inflate that upfront. If you have already paid all your taxes or planning to pay this month then that money won't be needed at the time of closing. Even if you didn't pay by then and they charge you at closing, your previous mortgage company will send you back a check with prior escrow amount. So that almost always balances out. As per a+b+c , that is where these lenders will make money and you need to be careful in comparison. C is the cost that depends on your state, if you are state like PA, that could easily go up to 3000, for states like CA, that could be very low. But that C cost is usually independent of lender, and you can shop around. B is 500-600 if you need appraisal. So it all comes down to cost of A and if there's any lender credit to offset that.
As per Sean then he was ok in my case, but rates and credits he offered were inferior in comparison to what other lenders were offering. I did not want to use Amex credit to get a loan from better. At the end I tried Costco one and their rate with credit landed up w/o any cost for me at closing. This is w/o escrow in the mix. For the same rate, If I went with better then after Amex credit, still I had to pay about $1000 out of my pocket.
Jul 11, 2020 03:27 PM
914 Posts
Joined Aug 2010
JetBlastJul 11, 2020 03:27 PM
914 Posts
Quote from Larroo :
My Better rep said they couldn't match LCabin rate and suggested that I go with them instead. They said with the factored in AMEX promo couldn't match LCabin. Seriously? Having received 5 bids all same lower rate with no points, and no lender fees and Better wants me to eat up all the AMEX credit to offset buying points from them to match? Doesnt make sense. Cant say I'm impressed with the experience from them so far. Perhaps they have their fill of business at the moment.
Yeah, arnold wasn't budging so I said I'm holding off until rates drop further. My closing expert came back and said if we close tomorrow (today), then they'll give me the extra credit. I actually got a bigger credit than what LC was offering so I didn't hesitate.

I'm set to close this afternoon. Others have gotten the exact same rate and discount so keep pushing them.
Jul 11, 2020 03:31 PM
1,003 Posts
Joined Nov 2013
sowhatwegetdrunkJul 11, 2020 03:31 PM
1,003 Posts
Quote from marsgamer :
Got you, but I can rent it out correct instead of selling it that way I don't get into legal trouble and can still buy a new house.
Quote from SDRebel :
do you have any source on that? first time I read anything like it

edit:
per this link [mortgage.info], it's entirely up to the contract you sign when you refi
Quote from marsgamer :
Thank you will wait for closing on this refinance and then start looking for a new one.
You are refinancing it as primary home. "YOU" are supposed to occupy for 1 year. You are not supposed to refi and rent it out within a month or two. Has to be 1 year. Legally, thats what you sign and its mortgage fraud if thats not your intention.
Jul 11, 2020 03:36 PM
205 Posts
Joined Aug 2013
SomeXYZJul 11, 2020 03:36 PM
205 Posts
Quote from JetBlast :
Yeah, arnold wasn't budging so I said I'm holding off until rates drop further. My closing expert came back and said if we close tomorrow (today), then they'll give me the extra credit. I actually got a bigger credit than what LC was offering so I didn't hesitate.

I'm set to close this afternoon. Others have gotten the exact same rate and discount so keep pushing them.
What is your initial rate & credits?
What is your final rate & credits?
Jul 11, 2020 03:42 PM
112 Posts
Joined Apr 2009
LarrooJul 11, 2020 03:42 PM
112 Posts
Quote from JetBlast :
Yeah, arnold wasn't budging so I said I'm holding off until rates drop further. My closing expert came back and said if we close tomorrow (today), then they'll give me the extra credit. I actually got a bigger credit than what LC was offering so I didn't hesitate.

I'm set to close this afternoon. Others have gotten the exact same rate and discount so keep pushing them.
Congrats for getting to close. So Better came through? They wanted 4 points to come close to LC. When I have 5 lender LE of all the same rate, no points, and Better supposedly cant match claiming Better already factored in AMEX offer in their rate..it doesnt sound right to me.
Last edited by Larroo July 11, 2020 at 09:56 AM.

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Jul 11, 2020 03:51 PM
914 Posts
Joined Aug 2010
JetBlastJul 11, 2020 03:51 PM
914 Posts
Better. It's the best deal I could get plus the amex credit.
Jul 11, 2020 04:22 PM
205 Posts
Joined Aug 2013
SomeXYZJul 11, 2020 04:22 PM
205 Posts
Better ordered title on my loan. How long it takes to clear?
Jul 11, 2020 04:24 PM
2,522 Posts
Joined Aug 2007
sleekwalletJul 11, 2020 04:24 PM
2,522 Posts
Quote from SomeXYZ :
Better ordered title on my loan. How long it takes to clear?
Depends on your market , between 2 days or 2 weeks
Jul 11, 2020 04:26 PM
205 Posts
Joined Aug 2013
SomeXYZJul 11, 2020 04:26 PM
205 Posts
Quote from sleekwallet :
Depends on your market , between 2 days or 2 weeks
This is my second refi with better. I did not see this step with 1st Refi
Jul 11, 2020 04:31 PM
455 Posts
Joined Feb 2008
nycdpjJul 11, 2020 04:31 PM
455 Posts
Quote from Mikey122687 :
Mak Bonakdar
Mak was the loan officer for me as well - very good to work with. makb at better.com
Jul 11, 2020 04:33 PM
908 Posts
Joined Nov 2017
gk6740Jul 11, 2020 04:33 PM
908 Posts
Quote from SomeXYZ :
Better ordered title on my loan. How long it takes to clear?
Mine was under 10 days. Not totally sure when they actually did it.
Jul 11, 2020 05:01 PM
355 Posts
Joined Aug 2013
Alex8919Jul 11, 2020 05:01 PM
355 Posts
Quote from SomeXYZ :
This is my second refi with better. I did not see this step with 1st Refi
Did you check better.com you can get $2500 credit again ?

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Jul 11, 2020 05:03 PM
147 Posts
Joined May 2009
DealMeNJul 11, 2020 05:03 PM
147 Posts
Quote from Alex8919 :
Did you check better.com you can get $2500 credit again ?
I'm doing my 2nd one now, 1st was in April. According to my loan concierge yesterday, the $2,500 promotional credit is per transaction, so I will be eligible for again. We'll see.

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