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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:

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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.
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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 15, 2020 03:41 PM
1,549 Posts
Joined Aug 2012
HarryS4062Jul 15, 2020 03:41 PM
1,549 Posts
Quote from Zorn :
Better.com seems insane - they are quoting me 3.675% and closing costs over $6000. I have never heard of numbers that high from anyone else. Am I missing some secrets here?
I dont see that rate at all on Better.com website. Your specific situation like loan amount, credit score, property type could be the reason. Investment property rates are certainly as high as that and even more everywhere.
Jul 15, 2020 03:44 PM
276 Posts
Joined Dec 2013
tedzoJul 15, 2020 03:44 PM
276 Posts
Quote from refitime :
Earlier in the month, I said for 30 year fixed that you should not settle for anything higher than 2.75% with lender credits covering A+B+C, and that's with a FICO just under 700. I see a lot of people have been ignoring what I said.

Right now, rates have gone down even lower for 30 year fixed, and 2.625% with lender credits covering A+B+C is now available. Lock it when you get one. As I said before, you've got to apply to 10-20 places. That would include all the ones mentioned in this thread in the last 2 weeks. Half of them will ignore you, even though by law they have to provide you with a loan estimate in 3 business days. Just deal with the ones that respond to your complete application.

If you're too lazy to apply to all the places mentioned in the last 2 weeks, then I can't help you. Every loan officer at every lender is different each day, and just because one person got a good deal at one place today doesn't mean everyone will get a good deal today. So you've got to try all the places and see who is in the mood to give YOU a deal today.
How do you apply for that many? I mean, doesn't it kill the fico score? Do you do it all one a single day or something? I have always been trying to check check check and apply at the one that seemed lowest...
Jul 15, 2020 03:51 PM
126 Posts
Joined Oct 2018
David9569Jul 15, 2020 03:51 PM
126 Posts
Quote from Zorn :
Better.com seems insane - they are quoting me 3.675% and closing costs over $6000. I have never heard of numbers that high from anyone else. Am I missing some secrets here?
Yes, the secret is that you don't start with Better. Get a loan quote from somewhere else first, and go to them once you have your best quote. Apply with their junk rate. For me, they called me almost instantly. However once I started the process of getting matched, and their profits went down like $10,000, they haven't been so quick to pick up the phone.
Jul 15, 2020 03:52 PM
126 Posts
Joined Oct 2018
David9569Jul 15, 2020 03:52 PM
126 Posts
Quote from tedzo :
How do you apply for that many? I mean, doesn't it kill the fico score? Do you do it all one a single day or something? I have always been trying to check check check and apply at the one that seemed lowest...
You only get one hit per all of them as long as you do it within a couple week window.
Jul 15, 2020 04:07 PM
2,292 Posts
Joined Jun 2010
EdMcK515Jul 15, 2020 04:07 PM
2,292 Posts
Quote from YCG :
This might be a dumb question but is there any reason why I couldn't take a high rate with a high lender credit from better (not even bother price matching), plus get the Amex credit, then turn around immediately after the refi is complete and do another refi with a lender that has competitive rates? I mean, there's nothing stopping me from just doing one refi after another, right?
Some potential down-sides:

- Rates ratchet back up by the time you're ready to refinance again
- Hard pull of the credit & new line of credit pulls your credit down so you're not eligible for the best rate (this would really only happen if you were on the borderline between credit profiles).

Otherwise, your strategy is what a lot of people in this thread are doing.
Jul 15, 2020 04:16 PM
126 Posts
Joined Oct 2018
David9569Jul 15, 2020 04:16 PM
126 Posts
Quote from EdMcK515 :
Some potential down-sides:

- Rates ratchet back up by the time you're ready to refinance again
- Hard pull of the credit & new line of credit pulls your credit down so you're not eligible for the best rate (this would really only happen if you were on the borderline between credit profiles).

Otherwise, your strategy is what a lot of people in this thread are doing.
You still have to do Title insurance each time, right? At least in PA, that is going to eat into a big chunk of the 2500.
Jul 15, 2020 04:17 PM
2,292 Posts
Joined Jun 2010
EdMcK515Jul 15, 2020 04:17 PM
2,292 Posts
Quote from David9569 :
You still have to do Title insurance each time, right? At least in PA, that is going to eat into a big chunk of the 2500.
Yes, I think they're a a discount on title insurance if you've recently got a new policy, but yeah title fees especially in PA are going to be a big hit each time.

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Jul 15, 2020 04:44 PM
127 Posts
Joined Jan 2016
kapujuJul 15, 2020 04:44 PM
127 Posts
I know it's been asked a few times but I don't think it's ever actually been answered. How late in the process can I inform them I'm using my own title company?
Jul 15, 2020 04:47 PM
93 Posts
Joined Feb 2017
JasonC8362Jul 15, 2020 04:47 PM
93 Posts
Quote from shahhere :
Well dont wait too long as they can certainly deny your request. Ask them to do it ASAP as that takes time to do a title search. I have always emailed Radian and introduced my Loan Officer to the Title agent in an introductory email to get things in writing and started.



I have also seen in some cases where Better has simply provided credit to match the costs of your own Title company instead of switching and starting over.


This time around I had to talk to a CS agent to get the scoop on things at Radian but she confirmed that the orders need to come from the lender directly and I was able to convince her to quote me again as I've 8+ title searches with them on file . She had noted to use[email protected] main number is 412-494-0400.


Shahhere
It was a bit complicated b/c I had to confirm that loan depot has an acocat with radian (which they do) so I emailed them to ask for a quote. Fingers crossed.
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Jul 15, 2020 04:53 PM
1,410 Posts
Joined Jan 2004
seawolf
Pro
Jul 15, 2020 04:53 PM
1,410 Posts
Quote from Letsgogogo :
Escrow meaning escrow account? I waived it free of charge, so I don't have escrow.

Or do you mean like escrow for title and stuff?
If net difference is $100. Not a problem. If difference is around $2k or 2% of loan (whichever is less) then further research required.
Jul 15, 2020 05:10 PM
65 Posts
Joined Dec 2008
TenariJul 15, 2020 05:10 PM
65 Posts
Bit of a bust with better.com. They couldn't match rate.com (Guaranteed Rate).

Got 2.875% with no points/lender fees through GR
New York State, 625k loan size, 53% LTV, 64% CLTV
I'm paying a quarter point for an escrow waiver since I think I can make back the interest by self-escrowing into my HELOC (currently at PRIME +0% -- 3.25%)

AFME offered me 3% but were concerned that they wouldn't be able to lock rates long enough to complete subordination + CEMA. Super nice folks, though.

Better.com offered me 2.875% w/ nearly $11k in fees No Thanks! New York tends to be hit or miss though.
Jul 15, 2020 05:33 PM
353 Posts
Joined Dec 2019
wandlJul 15, 2020 05:33 PM
353 Posts
Quote from Alex8919 :
The better.com agent follow-up my last refinance with better.com, the guy encouraged me do refinance again, and provide $1000 lender credit for next refinance with better.com, my refinance 15 years rate was 2.5%. I am looking around those mortgage company, the rate vary between 2.25 %to 2.5%, . My goal is to find 2.0%, I know I am greedy. if better.com can price match and offer American Express $2500 . I may refinance again . Btw ,my mortgage was purchased by Fannie Mae, It will remain with The Money Source.

Any comments are welcome !
Alex - I've read LoanCabin and Watermark *could* get 2.25% - have you tried them?
Jul 15, 2020 06:23 PM
908 Posts
Joined Nov 2017
gk6740Jul 15, 2020 06:23 PM
908 Posts
Quote from Zorn :
Better.com seems insane - they are quoting me 3.675% and closing costs over $6000. I have never heard of numbers that high from anyone else. Am I missing some secrets here?
We started close to that, ended at 3.0% and way less closing. Do not confuse escrow as closing costs.
Jul 15, 2020 06:24 PM
908 Posts
Joined Nov 2017
gk6740Jul 15, 2020 06:24 PM
908 Posts
Quote from David9569 :
Yes, the secret is that you don't start with Better. Get a loan quote from somewhere else first, and go to them once you have your best quote. Apply with their junk rate. For me, they called me almost instantly. However once I started the process of getting matched, and their profits went down like $10,000, they haven't been so quick to pick up the phone.
I started with Better... got better quote and Better came back better.

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Jul 15, 2020 06:25 PM
908 Posts
Joined Nov 2017
gk6740Jul 15, 2020 06:25 PM
908 Posts
Quote from savemybucks :
So even if they have ordered title report, you can ask them to order it from Radian? or match the quote? Like others have said I got same reply from radian about them not taking consumer requests.
The title work had started in my case and I sent them who I wanted to do with. They matched.

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