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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 24, 2020 05:44 AM
52 Posts
Joined Jan 2012
scorpioneyesJul 24, 2020 05:44 AM
52 Posts
Quote from Letsgogogo :
Used radian for title, and notary fee was added afterwards.

Quote has it $800(lender insurance and settlement fee), but notary fee was added after title was ordered.

It is now $925 with notary added. Is this correct? Feels like bait and switch that they add notary fee after quote was given.
I spoke to Radian and the rep told me the notary fee is included in the Settlement/Closing fee
Jul 24, 2020 06:01 AM
2,925 Posts
Joined Sep 2010
tayninhJul 24, 2020 06:01 AM
2,925 Posts
Quick question

My part B lists appraisal fee of $550 which will count towards closing cost total part J.
But I already paid for it out of pocket when scheduling the appraiser. So I'm already out of pocket $550 and then pay another $550 at closing. My Amex should refund $550 due to this deal. But I'm still down $550 since I pay twice. Does this sounds right?..
Jul 24, 2020 06:06 AM
13 Posts
Joined Sep 2017
LongN5823Jul 24, 2020 06:06 AM
13 Posts
Quote from tayninh :
Quick question

My part B lists appraisal fee of $550 which will count towards closing cost total part J.
But I already paid for it out of pocket when scheduling the appraiser. So I'm already out of pocket $550 and then pay another $550 at closing. My Amex should refund $550 due to this deal. But I'm still down $550 since I pay twice. Does this sounds right?..
If you're talking about the LE then it's assuming you haven't payed anything yet, so it's counting those. When you get the final disclosure, that's when it take into account all of that. Someone can correct me if I'm wrong.

WM finally replied to me. Apparently they had way to many people contacting them, and they finally had the group that did initial disclosure to work on updating my LE.
Last edited by LongN5823 July 23, 2020 at 11:08 PM.
Jul 24, 2020 06:13 AM
2,925 Posts
Joined Sep 2010
tayninhJul 24, 2020 06:13 AM
2,925 Posts
Quote from LongN5823 :
If you're talking about the LE then it's assuming you haven't payed anything yet, so it's counting those. When you get the final disclosure, that's when it take into account all of that. Someone can correct me if I'm wrong.

WM finally replied to me. Apparently they had way to many people contacting them, and they finally had the group that did initial disclosure to work on updating my LE.
Yes, I'm talking about the LE. I already paid for appraisal. Will they deduct the $550 appraisal fee at closing? If they do then it's even. If not , that means I pay for it.
Jul 24, 2020 06:30 AM
13 Posts
Joined Sep 2017
LongN5823Jul 24, 2020 06:30 AM
13 Posts
Quote from tayninh :
Yes, I'm talking about the LE. I already paid for appraisal. Will they deduct the $550 appraisal fee at closing? If they do then it's even. If not , that means I pay for it.
Your Closing Disclosure will reflect that. They have very little leeway in how the fees can vary.
Jul 24, 2020 06:37 AM
2,925 Posts
Joined Sep 2010
tayninhJul 24, 2020 06:37 AM
2,925 Posts
Quote from LongN5823 :
Your Closing Disclosure will reflect that. They have very little leeway in how the fees can vary.
So you're saying on the final closing cost they'll subtract $550 from the cost?
Jul 24, 2020 01:43 PM
10 Posts
Joined Sep 2017
TheOriginalMartianJul 24, 2020 01:43 PM
10 Posts
Just a data point.

I applied to better earlier this week. Uploaded all documentation, etc. The only "task" to complete in my profile is to lock a rate. My understanding what that my aplication is completed for the purposes of the Amex statement credit qualification. Today, I received an email from better stating the following: "Don't miss out on your statement credit.
Finish your application to be eligible to receive your statement credit from Better Mortgage."

Anyone else get this message today? I just sent an email to my loan officer for clarification. I know there was discussion earlier this week where some LO's were saying the rate needed to be locked but that isn't in the terms.

I'm waiting on a LE from loancabin that hopefully I receive today and can get better to match so I can avoid running into any issues with the statement credit.

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Jul 24, 2020 01:50 PM
7,652 Posts
Joined Sep 2008
DogAndPonyJul 24, 2020 01:50 PM
7,652 Posts
The last day to apply is tomorrow. Hmm...wondering if I should go for a second round.

Anyone think there is a chance that the 30 year rate goes down to 2.5% by October? That's the only way this really makes sense for me.
Jul 24, 2020 01:52 PM
13 Posts
Joined Sep 2017
LongN5823Jul 24, 2020 01:52 PM
13 Posts
Quote from tayninh :
So you're saying on the final closing cost they'll subtract $550 from the cost?
Appraisal fee shouldn't be on the final disclosure. You should be receiving credits for it though, since for the Amex deal appraisal is waive.
Jul 24, 2020 01:55 PM
643 Posts
Joined Feb 2007
techoinJul 24, 2020 01:55 PM
643 Posts
Quote from TheOriginalMartian :
Just a data point.

I applied to better earlier this week. Uploaded all documentation, etc. The only "task" to complete in my profile is to lock a rate. My understanding what that my aplication is completed for the purposes of the Amex statement credit qualification. Today, I received an email from better stating the following: "Don't miss out on your statement credit.
Finish your application to be eligible to receive your statement credit from Better Mortgage."

Anyone else get this message today? I just sent an email to my loan officer for clarification. I know there was discussion earlier this week where some LO's were saying the rate needed to be locked but that isn't in the terms.

I'm waiting on a LE from loancabin that hopefully I receive today and can get better to match so I can avoid running into any issues with the statement credit.
generally mortgage application is full application where you submit all the details. Better only does that after locking the rate so I think one needs to lock the rate to be eligible. Hope to be wrong as I am also in the same boat

When did you apply to Loancabin. I am also waiting LE from them but I just applied yesterday.
Jul 24, 2020 02:08 PM
10 Posts
Joined Sep 2017
TheOriginalMartianJul 24, 2020 02:08 PM
10 Posts
I applied Tuesday. Didnt hear any response so I emailed them yesterday. They gave a very good rate that I hope better will match. When I talked to better earlier in the week, they made it sound like I was qualified and said they put a note on my file. Unfortunately, that was by phone. Hopefully they confirm via writing in response to my email.

At this point, for you, I would reach out to Loan Cabin if you are trying to get everything settled in time. Good luck!

Quote from techoin :
generally mortgage application is full application where you submit all the details. Better only does that after locking the rate so I think one needs to lock the rate to be eligible. Hope to be wrong as I am also in the same boat

When did you apply to Loancabin. I am also waiting LE from them but I just applied yesterday.
Jul 24, 2020 02:21 PM
233 Posts
Joined Nov 2008
jpell123Jul 24, 2020 02:21 PM
233 Posts
First applied 15 days ago and am closing today with Better at 2.75% 30 yr, effectively getting paid $3,100 (incl. the Amex rebate) to drop our rate.

For those of you that have already refinanced with Better, who did you wind up with as a loan servicer?
Jul 24, 2020 02:26 PM
166 Posts
Joined Dec 2010
nagraw4Jul 24, 2020 02:26 PM
166 Posts
Quote from jpell123 :
First applied 15 days ago and am closing today with Better at 2.75% 30 yr, effectively getting paid $3,100 (incl. the Amex rebate) to drop our rate.

For those of you that have already refinanced with Better, who did you wind up with as a loan servicer?

15 day close is impressive! Which state?
Jul 24, 2020 02:26 PM
5,265 Posts
Joined Jul 2006
shahhereJul 24, 2020 02:26 PM
5,265 Posts
Quick update on Caliber as the "Locked" disclosures came in today for me and they do not reflect the Credit promised and on the Loan Estimate for me and 2 others.



That said I am taking down their information from the site unless they have a good explanation or correction to them in a timely manner.

My guess is that the pricing "exemption" she quoted is not getting applied to loans but regardless thats not a good look so far.


At the least this helped me and a few others to increase the matching to other lenders!


Shahhere

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Jul 24, 2020 02:28 PM
127 Posts
Joined Jan 2016
kapujuJul 24, 2020 02:28 PM
127 Posts
I purposely taking a higher rate (3%) with better for higher lender credit to offset closer costs and make some additional money if the plan to immediately refinance again and possibly even pay for points to get to 2.5% on a 30. If I close next week, as soon as my old loan gets paid off can I carry on with loan cabin on a new refinance? Or am I at risk of losing my $2500 Amex credit if I refi that quickly? Do I need to wait for better to sell the loan before I can refinance without any clawback or them outright denying the $2500 Amex?

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