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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 15, 2020 07:12 PM
1,018 Posts
Joined Mar 2019
CycloneFWJul 15, 2020 07:12 PM
1,018 Posts
Quote from wandl :
Better's chief complaints summarized (after I've read ~100 pages and gone through a refi that has funded with Better) are
1) Slow to respond: they have "a team" that is plain overwhelmed.
My take, schedule a call, it is on your Better.com portal as an option under MY TEAM menu on left side of page. This way you get faster answers.
I would venture to say that, generally speaking, Better's Team best functions when you, the borrower, act like a traditional mortgage broker would, keeping up with the various folks and making sure your file is processed vs. sitting on a back-burner. Personally, every 36-48 hours, I've asked for an update or minor change from the team, to which they promptly respond -- usually same day via email. Not once have I spoken to them via phone, nor do I desire to. If you have project mgmt experience, use it! Smilie
Jul 15, 2020 07:13 PM
15,758 Posts
Joined Nov 2019
LilylyJul 15, 2020 07:13 PM
15,758 Posts
how did people get refinanced at this time? are they all still working fulltime?

hows the rate now compared to last year?
Jul 15, 2020 07:15 PM
1,018 Posts
Joined Mar 2019
CycloneFWJul 15, 2020 07:15 PM
1,018 Posts
Quote from shahhere :
Sadly the reviews are what i'd call the general public. Many of the SD members dont fall in that category and I feel are deal hunters and a bit more disciplined in finance and savings in general (hence being here in the forums )
While that is true of some/many, sadly there are plenty who are not. How many posters have we seen do just the initial signup and run screaming how horrid Better's rates are?!? Their loss!
Jul 15, 2020 07:15 PM
5,262 Posts
Joined Jul 2006
shahhereJul 15, 2020 07:15 PM
5,262 Posts
Quote from scorpioneyes :
Hello all, would love advice here. I just received my LE from Watermark and there is an error on it and my loan agent claims it cannot be fixed prior to my initial signatures. Is this true?

I specifically asked for no escrow account, just P&I ($937/mo). The quoted total closing costs were around $2600. However the LE indicates escrow of $237 = $1174/mo, and Section G now has $1500 in taxes and insurance, increasing my closing costs to over $4100.

I spoke to my loan agent and he confirms his computer shows no escrow, that it must've been an error on the backoffice team, but the LE cannot be revised - that I need to sign this set of docs FIRST and the final set of docs will show the removal of escrow and Section G fees. He claims this is industry-wide (Dodd-Frank rule, not company policy). This seems absurd! I don't feel comfortable signing this knowing it's incorrect. Has anyone gone through this?

Edit: my initial discussions with agent Casey were great, very helpful. Now after reading some comments above and my recent phone convo with him, I don't have a good feeling about this ...

Ughhhh I hope I dont have these issues as at this point I am willing to pick either Better or Watermark for my scenario.


Withe Better if they dont match will be a wash with Watermark. If Watermark is truly kicking back the $3500 credit then its better than Better.com and no wait for Amex.....



Shahhere
Jul 15, 2020 07:16 PM
233 Posts
Joined Nov 2008
jpell123Jul 15, 2020 07:16 PM
233 Posts
Quote from CycloneFW :
I would venture to say that, generally speaking, Better's Team best functions when you, the borrower, act like a traditional mortgage broker would, keeping up with the various folks and making sure your file is processed vs. sitting on a back-burner. Personally, every 36-48 hours, I've asked for an update or minor change from the team, to which they promptly respond -- usually same day via email. Not once have I spoken to them via phone, nor do I desire to. If you have project mgmt experience, use it! Smilie
I think it might be more dependent on the individual contacts at each lender. I emailed my loan processor and "concierge" from Better last Friday and have heard zip back from them. Based on someone else's recommendation, I've scheduled a call with Better this afternoon.
Jul 15, 2020 07:18 PM
1,018 Posts
Joined Mar 2019
CycloneFWJul 15, 2020 07:18 PM
1,018 Posts
Quote from KrustyVT :
No idea if it's enforceable/if they would try to enforce - but here's the example.
They are likely to include any clawback in payoff quotes until the 6 months / 6 monthly payments pass. That would require basically no effort on their part beyond what they would already do when getting a payoff request.
Jul 15, 2020 07:18 PM
2,068 Posts
Joined Jun 2006
jcrashJul 15, 2020 07:18 PM
2,068 Posts
Do they do the $2500 Amex credit for refinance on investment property?

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Jul 15, 2020 07:21 PM
2,525 Posts
Joined Aug 2007
sleekwalletJul 15, 2020 07:21 PM
2,525 Posts
Quote from CycloneFW :
I would venture to say that, generally speaking, Better's Team best functions when you, the borrower, act like a traditional mortgage broker would, keeping up with the various folks and making sure your file is processed vs. sitting on a back-burner. Personally, every 36-48 hours, I've asked for an update or minor change from the team, to which they promptly respond -- usually same day via email. Not once have I spoken to them via phone, nor do I desire to. If you have project mgmt experience, use it! Smilie

Yeah i guess folks used to the one on one old approach are having a hard time with this
Jul 15, 2020 07:27 PM
2,476 Posts
Joined Jun 2011
savemybucksJul 15, 2020 07:27 PM
2,476 Posts
Quote from gk6740 :
The title work had started in my case and I sent them who I wanted to do with. They matched.
Radian? Since I don't know what they would cost, blindly asking them to match might backfire.

Anyone know how much was Radian in PA? ballpark is fine for ~216000 refi amount
Jul 15, 2020 07:29 PM
353 Posts
Joined Dec 2019
wandlJul 15, 2020 07:29 PM
353 Posts
Quote from tayninh :
You're not dealing with Casey at Watermark are you?
I'm dealing with Casey at Watermark who is offering a better rate so far compared to better, locked with him yesterday (no fee) and waiting for the LE.
Jul 15, 2020 07:30 PM
264 Posts
Joined Nov 2011
TushiJul 15, 2020 07:30 PM
264 Posts
Quote from wandl :
Alex - I've read LoanCabin and Watermark *could* get 2.25% - have you tried them?
Watermark quoted me 2.25% for 15 years for a 255K loan, no points and total cost 1400 (after credits). I uploaded all documents and waiting for official LE. Once I have LE; then throw at Better.com
This would be my second chance. I already Refinanced with Better.com in Feb. Let's see.
Jul 15, 2020 07:35 PM
1,168 Posts
Joined Jan 2006
4dealsJul 15, 2020 07:35 PM
1,168 Posts
Quote from Tushi :
Watermark quoted me 2.25% for 15 years for a 255K loan, no points and total cost 1400 (after credits). I uploaded all documents and waiting for official LE. Once I have LE; then throw at Better.com
This would be my second chance. I already Refinanced with Better.com in Feb. Let's see.
What's LE ?
Jul 15, 2020 07:38 PM
2,853 Posts
Joined Jun 2008
KaatuPaadiJul 15, 2020 07:38 PM
2,853 Posts
Quote from nagraw4 :
Looks like Watermark is not sending LEs until you lock with them. Tried asking for info and they keep sending bits and pieces over the email without the official LE.
Is there a downside to having multiple rate locks in place (if there is no upfront fee for the lock)?
Regulations dictate that lenders have to provide loan estimate within 3 days.. They can lose their license if you complain.. So tell them you will complain.. and see what happens.


https://www.consumerfinance.gov/a...pplication.
Jul 15, 2020 07:42 PM
6,745 Posts
Joined Dec 2010
blukingJul 15, 2020 07:42 PM
6,745 Posts
Anyone who closed 5/18 or later received their credit yet? Im getting close to the 8 weeks mark here so just wondering. Thx

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Jul 15, 2020 07:43 PM
1,018 Posts
Joined Mar 2019
CycloneFWJul 15, 2020 07:43 PM
1,018 Posts
Quote from KaatuPaadi :
Regulations dictate that lenders have to provide loan estimate within 3 days.. They can lose their license if you complain.. So tell them you will complain.. and see what happens.


https://www.consumerfinance.gov/a...pplication [consumerfinance.gov].
Keep in mind that putting it in US Mail postmarked within 3 days meets the legal requirement. Quicken for one does that a lot to try and keep you from shopping around. By the time the LE is in your hands, it is useless for use elsewhere.

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