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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:

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.
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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Jul 27, 2020 04:50 PM
499 Posts
Joined Feb 2012
Mikey122687Jul 27, 2020 04:50 PM
499 Posts
Anyone in San Diego, CA got 2.5% for 30 years or lower with true $0 cost?
Either from other lenders or better?
Jul 27, 2020 05:33 PM
279 Posts
Joined Sep 2007
fenix8o0Jul 27, 2020 05:33 PM
279 Posts
I'm still trying to figure out what's transfer tax and what's mortgage recording tax. In case of refinance, you would think transfer tax isn't applicable cause the property isn't changing hands. A friend got an updated LE from Quicken Loans with CEMA and both recording and taxes taxes were less than $1000. For NYC these taxes are easily greater than $4000 on a new purchase.
Quote from CycloneFW :
My third party interpretation may have been off (even compared to this quote), but it seems Freddie Mac disagrees with you.

http://www.freddiemac.com/cim/pdf/nycemaqa.pdf


This essentially matches my understanding, but it is outstanding principal and not original loan amount. However, it again is about mortgage recording tax and not transfer taxes. I've seen others in this thread comment how their state charges transfer taxes even on refis while some, like NC for me, don't.

If indeed for NY that transfer tax and mortgage recording tax are two different things vs. terminology differences for the same thing, then a CEMA doesn't impact the transfer tax from what I have seen.
Jul 27, 2020 05:51 PM
126 Posts
Joined Jun 2020
LetsgogogoJul 27, 2020 05:51 PM
126 Posts
Quote from sowhatwegetdrunk :
Nope. My best with better was 4.8K
I see. What lender offered you that much?
Jul 27, 2020 06:17 PM
55 Posts
Joined Nov 2007
madmacksJul 27, 2020 06:17 PM
55 Posts
Quote from Mikey122687 :
Anyone in San Diego, CA got 2.5% for 30 years or lower with true $0 cost?
Either from other lenders or better?
Loan Depot quoted me 2.5% for 30yr, 230k loan, no origination fees
Jul 27, 2020 06:31 PM
690 Posts
Joined Nov 2006
redearthJul 27, 2020 06:31 PM
690 Posts
Quote from billybobbobilly0 :
If the $550 paid was for the appraisal fee, that should be refunded if you withdraw the app before the appraisal gets started. Check this with your contact at Better.com
I paid for locking the rate. They asked to use CC for 550 to lockin
Jul 27, 2020 06:35 PM
1,157 Posts
Joined Jul 2008
pandy00Jul 27, 2020 06:35 PM
1,157 Posts
How far along is your friend with the cema? I'm wondering if they can get it done quicker than the 7-8 week estimate which would be a pia with the rate lock.

You know what's funny ... I just did a side-by-side comparison of the Taxes/other between Better and my LD lending estimate. Based on what you said, I may need to get a LE from Quicken as well.

LD
- lower by $1200 on recording fees
- lower by $1000 on transfer taxes

Plus, they will end up giving a closing credit of $1000 at closing.


Quote from fenix8o0 :
I'm still trying to figure out what's transfer tax and what's mortgage recording tax. In case of refinance, you would think transfer tax isn't applicable cause the property isn't changing hands. A friend got an updated LE from Quicken Loans with CEMA and both recording and taxes taxes were less than $1000. For NYC these taxes are easily greater than $4000 on a new purchase.
Jul 27, 2020 06:36 PM
1,157 Posts
Joined Jul 2008
pandy00Jul 27, 2020 06:36 PM
1,157 Posts
Is it no origination fee or no pts? I got a no points quote from them but still has a origination fee of $1595.

Quote from madmacks :
Loan Depot quoted me 2.5% for 30yr, 230k loan, no origination fees

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Jul 27, 2020 06:41 PM
279 Posts
Joined Sep 2007
fenix8o0Jul 27, 2020 06:41 PM
279 Posts
He locked last week and got the LE today. I read the cema faq on Better's site and the recording taxes are lumped info transfer taxes. They even say not all of it is waived. The mortgage recording tax is 0.8%. Is that in line which what they said you would save?

Quote from pandy00 :
.
Last edited by fenix8o0 July 27, 2020 at 12:27 PM.
Jul 27, 2020 07:47 PM
2,227 Posts
Joined Jun 2009
firefox15Jul 27, 2020 07:47 PM
2,227 Posts
What's the current wait time on the $2,500 rebate from AmEx? It's been 8 week for me, but still nothing
Jul 27, 2020 08:13 PM
932 Posts
Joined May 2010
mbelskyJul 27, 2020 08:13 PM
932 Posts
Quote from firefox15 :
What's the current wait time on the $2,500 rebate from AmEx? It's been 8 week for me, but still nothing
Any way to get anything via better now that this is expired? Any other promos to check out? looking to refi now.
Jul 27, 2020 08:18 PM
982 Posts
Joined Dec 2007
ghettoroadsterJul 27, 2020 08:18 PM
982 Posts
I know Watermark/LC etc are probably all slammed since last week, but does anyone have feedback on how long it takes to get some sort of response back from either? Not in a hurry, but would really like to move along. Thanks.
Jul 27, 2020 08:24 PM
552 Posts
Joined Sep 2009
mamakatJul 27, 2020 08:24 PM
552 Posts
Quote from Mikey122687 :
Anyone in San Diego, CA got 2.5% for 30 years or lower with true $0 cost?
Either from other lenders or better?
Does true 0 cost mean no closing costs at all? .. wondering if this is possible.
Jul 27, 2020 08:29 PM
552 Posts
Joined Sep 2009
mamakatJul 27, 2020 08:29 PM
552 Posts
Quote from ghettoroadster :
I know Watermark/LC etc are probably all slammed since last week, but does anyone have feedback on how long it takes to get some sort of response back from either? Not in a hurry, but would really like to move along. Thanks.
It took 5 days for LC, that's after I emailed back, concerned that I hadn't heard anything, they finally sent me LE on the 6th day. It's been about 6 days since I summited info online for WM, and I called a couple of days ago, still haven't heard from them at all.
Jul 27, 2020 08:29 PM
294 Posts
Joined May 2009
kumar13Jul 27, 2020 08:29 PM
294 Posts
Quote from dealshunter09 :
Got better to match 2.625 30 year with 5000 lender credit + 2500 amex
Great rate. May I know the lender's name?

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Jul 27, 2020 08:38 PM
5,265 Posts
Joined Jul 2006
shahhereJul 27, 2020 08:38 PM
5,265 Posts
Quote from mamakat :
Does true 0 cost mean no closing costs at all? .. wondering if this is possible.

Off course it should be possible but depends on your costs but should be doable with a higher rate. Again "True No Closing Cost" loan is where the lender is paying everything and you are bringing nothing to very little to the closing table and isnt just rolled into the loan.


Shahhere

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