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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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:

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 11, 2020 09:30 PM
92 Posts
Joined Jul 2018
prs98Jul 11, 2020 09:30 PM
92 Posts
Quote from braveheart2012 :
they are giving lesser than 500$ of better.com. but not sure whether they are good in service
Got it. How much exactly?
Jul 11, 2020 09:38 PM
34 Posts
Joined Nov 2017
ssmith891Jul 11, 2020 09:38 PM
34 Posts
Quote from Mikey122687 :
Without counting escrow
But are you opting out of an escrow altogether?
Jul 11, 2020 09:44 PM
11,085 Posts
Joined Aug 2007
damnyouJul 11, 2020 09:44 PM
11,085 Posts
Response from Watermark Home Loans


HI ABC,



Thanks for reaching out,



For us to be able to do the rate for a "Primary Residence" you'd need to intend on living there for 12 months or more.



Thanks,



XXXXX
Mortgage Banker
Jul 11, 2020 09:52 PM
355 Posts
Joined Oct 2007
KR4056Jul 11, 2020 09:52 PM
355 Posts
Quote from iuku :
Signed closing doc on May19
Credit posted date June 19
Credit processed date July 10
what is credit posted and processed? is July 10 is when it hit your amex account?
Jul 11, 2020 10:05 PM
914 Posts
Joined Aug 2010
JetBlastJul 11, 2020 10:05 PM
914 Posts
Quote from savemybucks :
So you let it sat after locking the rate?
Yes. I finished underwriting and was all set to go. But I told them what's my rush if I'm locked in for another 40 or so days
Jul 11, 2020 10:12 PM
3,290 Posts
Joined Feb 2014
iukuJul 11, 2020 10:12 PM
3,290 Posts
Quote from KR4056 :
what is credit posted and processed? is July 10 is when it hit your amex account?
So it shows june 19 as credit date on statement but july 10 is when it hit the account
Jul 11, 2020 10:23 PM
1,020 Posts
Joined Jan 2008
lowmazdaJul 11, 2020 10:23 PM
1,020 Posts
Quote from SomeXYZ :
Better ordered title on my loan. How long it takes to clear?
This was my experience. I emailed the processing expert earlier this week and got an auto reply that he was out of the office. Contacted someone else and they said they expected it to be done by the 13th.

Title

Your report is all wrapped up

We've signed off on everything and you're all set!

Ordered on June 22

Received on June 25

Cleared on July 10

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Jul 11, 2020 10:28 PM
41,531 Posts
Joined Apr 2006
SDRebelJul 11, 2020 10:28 PM
41,531 Posts
Quote from iuku :
Signed closing doc on May19
Credit posted date June 19
Credit processed date July 10
Thanks for the data point on timeframe. I just closed yesterday, so have a long wait ahead of me.
Jul 11, 2020 10:30 PM
41,531 Posts
Joined Apr 2006
SDRebelJul 11, 2020 10:30 PM
41,531 Posts
Quote from damnyou :
Response from Watermark Home Loans


HI ABC,



Thanks for reaching out,



For us to be able to do the rate for a "Primary Residence" you'd need to intend on living there for 12 months or more.



Thanks,



XXXXX
Mortgage Banker
The key there is "intend" though. For it to be enforceable, i believe the contract would need to spell it out
Jul 11, 2020 10:42 PM
11,085 Posts
Joined Aug 2007
damnyouJul 11, 2020 10:42 PM
11,085 Posts
Quote from SDRebel :
The key there is "intend" though. For it to be enforceable, i believe the contract would need to spell it out
I guess by the time you reach the contract it will be a little late to back out due to costs involved. Not sure if better.com has same thing in mind
Jul 11, 2020 10:42 PM
14 Posts
Joined Nov 2015
AndrewB8675Jul 11, 2020 10:42 PM
14 Posts
Hello Thread,
Longtime lurker; first time poster.

I am at the stage in the process where I applied with Better, saw that their rates weren't competitive, and am obtaining other estimates from different companies.

I didn't have an Amex before, but I was just approved for one. The Amex chat staff made me feel like I needed to reapply through the link for the offer, but I feel like based on the comments in this thread people have just mentioned it to Better after negotiating and Better has added a task for your Amex number.

Long story short, is there anyone who has received the Amex credit who started the application before having an Amex, but had one before locking?

Thank you!
Jul 11, 2020 10:58 PM
41,531 Posts
Joined Apr 2006
SDRebelJul 11, 2020 10:58 PM
41,531 Posts
Quote from AndrewB8675 :
Hello Thread,
Longtime lurker; first time poster.

I am at the stage in the process where I applied with Better, saw that their rates weren't competitive, and am obtaining other estimates from different companies.

I didn't have an Amex before, but I was just approved for one. The Amex chat staff made me feel like I needed to reapply through the link for the offer, but I feel like based on the comments in this thread people have just mentioned it to Better after negotiating and Better has added a task for your Amex number.

Long story short, is there anyone who has received the Amex credit who started the application before having an Amex, but had one before locking?

Thank you!
I do think you need to apply through better.com/amex, but I'll let others corroborate
Jul 11, 2020 10:58 PM
491 Posts
Joined Feb 2012
Mikey122687Jul 11, 2020 10:58 PM
491 Posts
Quote from ssmith891 :
But are you opting out of an escrow altogether?
No I have to put $3k into escrow
Jul 11, 2020 11:47 PM
3,734 Posts
Joined Oct 2010
k1ngkev1n1Jul 11, 2020 11:47 PM
3,734 Posts
Just locked with better

2.75% - 0pts
A+B+C = $1560
3260 credits
30yr
235k
CA
Plus Amex 2500$ credit.

Was kind of a hassle as they matched my LE but the rate reverted back as I was going to lock.. I was bit worried, but all is good now after pestering them (my mortgage expert is offf today). I'm glad better works 7 days a week and someone else was able to fix it for me. So far so good I think.

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Jul 12, 2020 12:16 AM
30 Posts
Joined Nov 2014
varun_v16Jul 12, 2020 12:16 AM
30 Posts
Quote from bumoftheday :
If they are collecting 14 months now and then an additional 4 months prior to the due date in November, it's actually illegal. They are only allowed a 2 month buffer by federal law.

https://www.consumerfinance.gov/p...24/17/#b-1

Note that my guy said at the beginning that the final escrow amount collected won't be reflected until closing disclosures.
Is there a limit for prepaid? They're asking for 6 month of property tax because it's usually due August 1st but this year has been delayed to Oct 1st. Closing is July 24th and escrow was waived.

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