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Amex offer: $2,500 statement credit for home refinance Better.com

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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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This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2007
L2: Beginner
57 Posts
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#4801
Quote from Aln10788
:
I literally can't get in contact with lender fi. I have tried a lot of lenders now and no one can beat Better due to eveyone else having origination fees.
Same here. No one is responding to me from LenderFi. I was planning to file a complaint with Consumer Financial Protection Bureau (CFPB)

My understanding is by law, lenders are supposed to provide a loan estimate within 3 days after running your credit.

https://www.consumerfinance.gov/complaint/
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Joined Dec 2006
L4: Apprentice
342 Posts
44 Reputation
#4802
Quote from brat7705
:
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
I got them to reduce mine to about 8 months using that same logic.
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Joined Jan 2020
L3: Novice
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#4803
Quote from brat7705
:
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
I'd never agree to escrow. Just request for escrow to be waived. If you put the $7k into tsla, you'll have 14k by November!
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Joined Nov 2006
L3: Novice
191 Posts
35 Reputation
#4804
Quote from brat7705
:
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
The escrow and prepaid costs will keep changing, so don't worry about these.
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Joined Jan 2020
L3: Novice
163 Posts
14 Reputation
#4805
Quote from shahhere
:
If the rates tend to stay low or trend not too far off then people should consider refinancing often Smilie. I have in the past done 3-4 in a single calendar year and have netted back after closing costs about $16-$18K on a higher loan balance and taking a bit of a higher rate.


Shahhere
You must be a glutton for punishment. Refinancing is not fun. Getting a loan estimate from a competitor is pure torture. Wouldn't wish it upon my worst enemy.

If you don't use your credit for anything, I guess it doesn't matter. But if you are buying investment properties or applying for business loans, I don't think a lender would be pleased with a million refinance inquiries on your credit report.
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Joined Jul 2006
Call me Mr. Deals
1,976 Posts
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#4806
Quote from SiennaDeer8270
:
You must be a glutton for punishment. Refinancing is not fun. Getting a loan estimate from a competitor is pure torture. Wouldn't wish it upon my worst enemy.

If you don't use your credit for anything, I guess it doesn't matter. But if you are buying investment properties or applying for business loans, I don't think a lender would be pleased with a million refinance inquiries on your credit report.

Na dont scare people unnecessarily lol, its not rocket science and once you do it once the second time around its 80%+ the same paperwork and the only difference is Paystubs/Bank Statements. I haven't refinanced like that much in 8+ years as the recent years I just keep going back to the same lender and on average can turn paperwork in 2 days tops. Like i said earlier on repeat refinances it would take about 2 hours or work.


Again this wont work for many but if you have stable job, enough income, 20%+ equity and low debt its very repeatable along with good credit. I don't own investment property anymore but still have a stellar credit so having 10 or 100 inquires wont matter and the drop in credit score 9-13 points for me recovers in 3-4 months.


The rates are low again to the point where this is my 3rd refinance but this is the time to do this and if possible take higher points to make money quickly.



Shahhere
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Joined Jan 2010
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#4807
My loan funded today. Should I expect an email mentioning the $2,500 or does it just come when it comes?
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Joined Mar 2010
L3: Novice
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#4808
Quote from bamdoo
:
My loan funded today. Should I expect an email mentioning the $2,500 or does it just come when it comes?
you'll probably get an automated email from your concierge. other than that, nothing from american express. just check your account again in 4-8weeks.
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Joined Jan 2015
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#4809
What is the timeline for loan to funded? I m waiting for ICD for past 5 days.
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Joined Nov 2014
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#4810
Quote from Switching2Geico
:
I had locked in with better last week at 2.375 15 years but 4k fees. I was annoyed they were charging me points because i didnt want to impound property taxes and insurance.

Today i found and locked with another lender at 2.10% 15 years and NO fees. I lose the amex credit. Lets see if better will match.
Do you mind sharing the lender details? Which state?
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Joined Mar 2016
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#4811
Lenderfi finally contacted me. They were the only ones to truly give me a great rate as their first offer without needing me to send a good offer for them to beat. Guy was really helpful actually. The had me at 15 year 3.275 no points. However they couldn't beat loandeopt who was at 3.275 with $3,115 in lender credits. I asked Better to match loandepot. Better went down from 3.75 to 3.275 but could only do a $610 lender credit. Still ended up cheaper than loandeopt with the Amex credit due to no origination fee as loandepot had a $1500 one. All in all 15 year 3.275 D+E = $2048 minus J of $610. They guaranteed my appraisal waiver of $550 and Amex $2500 credit. Should come out to $1620 in my pocket if I am doing this math right. Seems like a good deal to me.
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Joined Jul 2008
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#4812
Loan funded (2.75 30yr 2700 credit). Next stop: Amex credit
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Joined Apr 2006
World dominator and rebel
39,725 Posts
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#4813
Quote from brat7705
:
This is fantastic! Congratulations!! I got 2.25 on 15 year locked yesterday for a 378K loan with escrows. A+B+C = 1850-1025 (credit). My prepaid and escrow are $7,000!!EEK! I think 14 months of property taxes in advance is a bit much.... considering they are not due until Nov....
Aren't they due in Jan?
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Joined Apr 2006
World dominator and rebel
39,725 Posts
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#4814
Quote from Edge
:
Same here. No one is responding to me from LenderFi. I was planning to file a complaint with Consumer Financial Protection Bureau (CFPB)

My understanding is by law, lenders are supposed to provide a loan estimate within 3 days after running your credit.

https://www.consumerfinance.gov/complaint/
Same here, lenderfi stopped responding
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Joined Apr 2006
World dominator and rebel
39,725 Posts
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#4815
Quote from SiennaDeer8270
:
I'd never agree to escrow. Just request for escrow to be waived. If you put the $7k into tsla, you'll have 14k by November!
Or 3.5k
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