Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
Item 1 of 1
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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1. Last 2 Paystubs
Shahhere
YMMV, many lenders pull data from IRS and might not need it. For WM they asked me 4 things: Mortgage statement, Homeowners Declarations page and Drivers License and my SS# and was told the underwritting has everything else.
Shahhere
F – Prepaid – While it is certainly true that lenders will require the settlement agent to collect upfront for Insurance and City/School Taxes, that is only if they are coming up due shortly after closing. For the majority of people, they will see Section F only include interest from closing to the end of the month. I would reword it to focus on prepaid interest, and then include a trailing sentence that insurance and taxes may also be collected if due soon after closing.
Step3: Closing Cost shopping:
3. I would say "No Closing Costs" would be credits offsetting D + E, as every other cost would be incurred (one way or another) even if not refinancing.
Shahhere
I refinanced with better in May month. Now refinancing again with them.
Do I need to pay transfer taxes again?
Can I get any concessions in title services ?
Shahhere
Not sure i mentioned it but your right up is extremely informative. Great work.
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F – Prepaid – While it is certainly true that lenders will require the settlement agent to collect upfront for Insurance and City/School Taxes, that is only if they are coming up due shortly after closing. For the majority of people, they will see Section F only include interest from closing to the end of the month. I would reword it to focus on prepaid interest, and then include a trailing sentence that insurance and taxes may also be collected if due soon after closing.
Step3: Closing Cost shopping:
3. I would say "No Closing Costs" would be credits offsetting D + E, as every other cost would be incurred (one way or another) even if not refinancing.
Thanks for the Thumbs up and Rep points; i've gone ahead and updated the post with that information.
Shahhere
When comparing the two offers, it is most important to understand what is a true comparable. When looking at fees, it is important to only compare things that are specific to each lender. The things to compare are listed in sections A, B, C and letter J under lender credit.
Sections E, F and G are going to be the same for each lender, and therefore these fees should not be compared. Taxes are determined by the government, pre-paids will depend on your closing date, property taxes will also be determined by the government and insurance payments will be determined by the insurance company.
- Closed: 5/13
- Opened research request with Amex about credit: 7/14
- Amex verified name w/ Better: 7/14 - 7/15
- Credit appeared on Amex online: 7/18
- Credit is dated: 7/13
I was NOT targeted by Amex for this offer. The only "qualifying" action I took was apply through the link in the Op. I used my Delta Amex Platinum card for this credit.
Currently about ready to close with Better again. Verified I will get the credit. I am allowed to use the same card #, but I will put this on my Blue Cash Everyday card instead, so if I have to open another research request, they won't get confused between the first and second credits.
Now the question is which rate to pick. AFTER the Amex credit for a 15-year,
- 2.25% w/ $500 in my pocket
- 2.625% w/ $2,850 in my pocket
- 2.875% w/ $3,750 in my pocket
- 3.125% w? $4,750 in my pocket
I'm very tempted to take the bigger payout and plan on a third refi, even if it is with a different vendor and is whatever 2.xx% rate at no-cost. FYI, my loan is only $150k.- Closed: 5/13
- Opened research request with Amex about credit: 7/14
- Amex verified name w/ Better: 7/14 - 7/15
- Credit appeared on Amex online: 7/18
- Credit is dated: 7/13
I was NOT targeted by Amex for this offer. The only "qualifying" action I took was apply through the link in the Op. I used my Delta Amex Platinum card for this credit.
Currently about ready to close with Better again. Verified I will get the credit. I am allowed to use the same card #, but I will put this on my Blue Cash Everyday card instead, so if I have to open another research request, they won't get confused between the first and second credits.
Now the question is which rate to pick. AFTER the Amex credit,
- 2.25% w/ $500 in my pocket
- 2.625% w/ $2,850 in my pocket
- 2.875% w/ $3,750 in my pocket
- 3.125% w? $4,750 in my pocket
I'm very tempted to take the bigger payout and plan on a third refi, even if it is with a different vendor and is whatever 2.xx% rate at no-cost. FYI, my loan is only $150k.I had received email confirmation from a representative before closing that the offer was on my account. I also had a refi task on better.com to add the last 5 of the amex card I would like to receive the credit on. I did not have a specific offer on the amex website portal - I just clicked through the portal link provided in this thread.
..........................................
I am sure it will help a lot of people.
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Samantha Schlarb | SVP of Mortgage Banking |PH: 312-350-2324 – [email protected]
She had okayed me using her contact when asked a few weeks back.
Also, option 2 on their phone will go to her voicemail which is apparently full so Email is the fastest to get a response.
Shahhere
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