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!!
Item 1 of 1
expiredGreenworld123 posted Dec 8, 2019 2:27 PM
Amex offer: $2,500 statement credit for home refinance Better.com
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I finally settled for 2.85 % on 15 year with $3500 in closing costs. But the loan is with a local bank and i can speak with a person on the phone any time as well as make a payment in the lobby in case of any unforeseen issues during these times.
I think it's worth the headache... It's your biggest cash out the door each month for most people. The good things in life take some sacrifice
- 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.I live in FL. My current mortgage balance is around $171K with a 15 year mortgage that I have with a local credit union that I closed in August 2019. So, wondering what kind of rates Better.com would offer.
Also the above rates you mentioned, how recently did Better.com gives those rate options to you on a 15 years fixed mortgage.
I finally settled for 2.85 % on 15 year with $3500 in closing costs. But the loan is with a local bank and i can speak with a person on the phone any time as well as make a payment in the lobby in case of any unforeseen issues during these times.
It's always their best interest.
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I live in FL. My current mortgage balance is around $171K with a 15 year mortgage that I have with a local credit union that I closed in August 2019. So, wondering what kind of rates Better.com would offer.
Also the above rates you mentioned, how recently did Better.com gives those rate options to you on a 15 years fixed mortgage.
Better did this match on 7/9.
Or does the rate change after they do a hard pull of your credit or did you speak to their Mortgage Expert to get your rates with the credits?
Also, did you provide any competitors rate to get a match?
Bcoz currently the lowest I am seeing on a 15 year fixed mortgage is 2.375% with Better asking me to pay $3606 towards points + closing costs, which would be of no use to me. Even the higher rates 2.5%, 2.625%, 2.75% I see, all ask for over $1200 towards points. From that perspective it looks like I am better off staying with my current rate of 2.75% and not making the move.
I would be very happy if I can get 2.25% with some money in my hand after deducting Amex $2500 & closing costs or just the 2.25% without paying anything from my pocket after deducting Amex $2500 credit.
Sounds like Watermark is a good option as well but they seem to have an internal cap of $3500 in credits against their $1499 Org fee = $2000 Credit but at 2.75% so you can see if they'd do 2.625% and still credit a high enough amount. I have not seen such a hard cap before with any lender so larger balances might be better at getting a lender lined up who will rebate essentially most of the negative points back.
LoanCabin is also providing some good credits against not Costs of their own (A&B). You might be able to get 2.625% and a decent credit at your loan amount as well.
Better it sounds like you need to apply and get deeper into your process to request a match. For me I got 1 match right when I wanted to lock which wasnt quite 1:1 and I guess was they "Offer". 1 Week later I was able to match 2nd time and I assume the deeper you get on your loan application the more time and energy they are spending hence being more match happy.
Lastly; I know you said you have a date so keep in mind you can apply and still keep shopping if you really want to reduce your future costs.......one problem I can see with all the pricematching is that you might run over on your lock timeframes causing the Lender to fault you to extent and charge you a rate lock extension cost. With the volumes here and everywhere else its 45 to 60 day locks. I've close a loan in 16 days start to finish earlier this year but doubt it would be anywhere close lol. I think the lenders that offer a 60 day lock are also not giving you the best rate as they have to hold that loan on their end and so for LoanCabin if you play with numbers you'll see lower rates at short closing time but they have confirmed that they cannot and appreciate the honest.
Shahhere
So if ones continues to shop, every lender they go to would do a hard pull on your credit, right?
Thanks
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good deal than WaterMark, any suggestions?
Also, the WaterMark is charging around $270 for title Insurance where as Better is charging around $650, why should it be different?
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