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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 28, 2020 12:58 AM
4 Posts
Joined Jul 2020
MerryMoney6654Jul 28, 2020 12:58 AM
4 Posts
Quote from cyno :
Experts, please chime in.
I closed a refinance with Better last month and actually had two home appraisals done (one by local lender and other by Better). I paid for the appraisal by local lender. Better waived it as part of AMEX deal.

Trying to do it again with Better, and noticed this time they are asking to pay upfront $550 and they will refund me that amount after the closing. This is new to me. Did something change recently with AMEX deal?
Also, Better did the appraisal last month. I wonder why they are asking again for the same home.
Can't they use the last month appraisal?
Ask them! I asked a few lenders if they can take an appraisal that o had done in May. They said of the appraiser transfers it to them. They can contact the appraiser to readdress/reassign.
Jul 28, 2020 01:04 AM
62 Posts
Joined Sep 2013
tough6guyJul 28, 2020 01:04 AM
62 Posts
Quote from vstypicals :
Anyone know if its possible to get a cc lender to do a one-time balance update to the credit bureaus before the statement comes out? Made a $16,000 purchase and didn't know the statement closed 2 days later. Oops. Dropped my score by about 45 pts. Currently at 741 FICO.
Quite a few lenders let you use your updated score (down the underwriting line) and provide you the best rate as of lock date. I did it multiple times. You could try that
Jul 28, 2020 01:10 AM
106 Posts
Joined Nov 2007
bonosloveslaveJul 28, 2020 01:10 AM
106 Posts
Quote from tayninh :
Does anyone screengrab the promotion page? It's gone now.
So the appraisal fee that we pay upfront. When will Amex refund it?
So I was a little surprised that the appraisal charge went through, in my intial communications my LO they said "Your loan estimate is now showing $0 in origination charges and lender credits in the amount of $1,256. Please note that the appraisal fee will also be removed because an appraisal in not required for your loan."

I emailed my processing expert asking how that would work with the $550 charge going through on my card (not just pending), her response today was, "In regards to the $550 charged on your credit card for the appraisal, that will be refunded to your credit card at the closing of your loan."
Jul 28, 2020 01:10 AM
21 Posts
Joined Jul 2020
GetItRightEveryTimeJul 28, 2020 01:10 AM
21 Posts
Quote from tayninh :
Does anyone screengrab the promotion page? It's gone now.
So the appraisal fee that we pay upfront. When will Amex refund it?
Here you go, Right click on the link below and save link as option
Attachment 9255881
Last edited by GetItRightEveryTime July 27, 2020 at 06:17 PM.
Jul 28, 2020 01:18 AM
745 Posts
Joined Nov 2006
vstypicalsJul 28, 2020 01:18 AM
745 Posts
Quote from tough6guy :
Quite a few lenders let you use your updated score (down the underwriting line) and provide you the best rate as of lock date. I did it multiple times. You could try that
I find it hard to get a better rate from the same lender. Every time I ask, they simply say my locked rate is the best.
Jul 28, 2020 01:18 AM
745 Posts
Joined Nov 2006
vstypicalsJul 28, 2020 01:18 AM
745 Posts
Quote from CycloneFW :
Ouch! $16k likely killed your utilization on that specific card. It is sadly unlikely that the cc company will do an off-cycle update. It doesn't hurt to ask though. How did you learn of the score change? Did Better say something? If not, don't tell them and let them bring it up if they do. Meanwhile, have proof you've paid the $16k handy as well.
My first Better.com refi closed already. This is my second refi. =) Came up in the initial application.
Jul 28, 2020 02:59 AM
175 Posts
Joined Nov 2016
sd72986Jul 28, 2020 02:59 AM
175 Posts
Quote from vstypicals :
Anyone know if its possible to get a cc lender to do a one-time balance update to the credit bureaus before the statement comes out? Made a $16,000 purchase and didn't know the statement closed 2 days later. Oops. Dropped my score by about 45 pts. Currently at 741 FICO.
At least for Chase, they did an update for P2 after she paid off a large balance 2 days after closing without asking. Wasn't expecting that though, but wanted to provide a DP.

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Jul 28, 2020 03:06 AM
1,020 Posts
Joined Apr 2006
wowpawJul 28, 2020 03:06 AM
1,020 Posts
Quote from bonosloveslave :
So I was a little surprised that the appraisal charge went through, in my intial communications my LO they said "Your loan estimate is now showing $0 in origination charges and lender credits in the amount of $1,256. Please note that the appraisal fee will also be removed because an appraisal in not required for your loan."

I emailed my processing expert asking how that would work with the $550 charge going through on my card (not just pending), her response today was, "In regards to the $550 charged on your credit card for the appraisal, that will be refunded to your credit card at the closing of your loan."
That's weird because my appraisal fee never showed up and confused my concierge at first. Then I mentioned the AMEX credit and she said that's the reason and that all AMEX credit applicants have it automatically waived right off the bat

Just curious, has anyone done a float down with Better? I was told that they are using St Louis Fed 30 year mortgage (or 15) for their baseline. Same rules apply with the typical 0.25% in order to float down. Float down rates are no charge
Jul 28, 2020 03:31 AM
387 Posts
Joined Feb 2007
zaksterJul 28, 2020 03:31 AM
387 Posts
Quote from vstypicals :
Stephenae from Better.com is THE WORST! Holy hell lady.
Please share your experience with her as I got assigned to her too. Haven't communicated yet.
Jul 28, 2020 03:56 AM
932 Posts
Joined May 2010
mbelskyJul 28, 2020 03:56 AM
932 Posts
Quote from nicemann :
Quicken had the same deadline of 7/25 to apply
damn. wonder if i should wait a bit.... heard rates will be lower in early 2021 base don an announcement from a big lender to their agents
Jul 28, 2020 04:25 AM
1,224 Posts
Joined Nov 2011
ZwitterionJul 28, 2020 04:25 AM
1,224 Posts
Quote from mbelsky :
damn. wonder if i should wait a bit.... heard rates will be lower in early 2021 base don an announcement from a big lender to their agents
None knows where rates will go, and certainly not in 2021.
Jul 28, 2020 04:42 AM
1,003 Posts
Joined Nov 2013
sowhatwegetdrunkJul 28, 2020 04:42 AM
1,003 Posts
Quote from mbelsky :
damn. wonder if i should wait a bit.... heard rates will be lower in early 2021 base don an announcement from a big lender to their agents
Lol. No one knows anything. Its all speculation
Jul 28, 2020 05:57 AM
1,018 Posts
Joined Mar 2019
CycloneFWJul 28, 2020 05:57 AM
1,018 Posts
So this should be interesting. The app I opened Friday night got reassigned today to the same loan officer I have for my current in-flight mortgage using the Amex offer. Hmmm. He hasn't said anything yet though.

Interesting too, that in all three of my apps, whoever got it first was then reassigned within one business day.
Jul 28, 2020 06:01 AM
5,914 Posts
Joined Dec 2008
bluetrepJul 28, 2020 06:01 AM
5,914 Posts
possible and very popular. but it does not cover the payoff fee charged by your current lender, around $100-$200. also you pre pay interest for your new lender.

Quote from mamakat :
Does true 0 cost mean no closing costs at all? .. wondering if this is possible.

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Jul 28, 2020 06:13 AM
126 Posts
Joined Jun 2020
LetsgogogoJul 28, 2020 06:13 AM
126 Posts
Quote from CycloneFW :
So this should be interesting. The app I opened Friday night got reassigned today to the same loan officer I have for my current in-flight mortgage using the Amex offer. Hmmm. He hasn't said anything yet though.

Interesting too, that in all three of my apps, whoever got it first was then reassigned within one business day.
How many new apps did you open?

The new officers that I was assigned to are really horrible. They say they matched, then goes on to give me $8000 in points. Quite ridiculous.

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