Forum Thread

Amex $2,500 Statement Credit with Rocket Mortgage New Loan or ReFi

+7 Deal Score
17,852 Views
Got an email from American Express, similar to the deal they had earlier this year they are partnering with Quicken Loans and offering $2,500 statement credit if you refinance or close on a mortgage through their link:

https://www.americanexpress.com/u...ken-loans/

Seems to be a decent deal if you were looking to refinance anyway. I'm usually out of luck on these due to the archaic rules about commercial space in a building. Hopefully it's helpful for some.
Share
Good deal?
You gave thanks to Zorn for this post.
Thank you!
Zorn posted this deal. Say thanks!
Add Comment
Created 01-28-2020 at 06:44 AM by Zorn
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+7
17,852 Views

70 Comments

1 2 3 4 5

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2005
L5: Journeyman
715 Posts
56 Reputation
#2
They are making up for that credit somewhere. I'd be surprised if they were able to beat or match some traditional lenders.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2005
L4: Apprentice
1,228 Posts
518 Reputation
Original Poster
#3
Quote from Atl golfer
:
They are making up for that credit somewhere. I'd be surprised if they were able to beat or match some traditional lenders.
I don't have personal experience with them but have heard lots of good things about Rocket Mortgage, they are a pretty big lender. Most likely a standard type of split commission thing, paying out a few grand isn't a big deal when many home loans are $150k+
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2009
L7: Teacher
2,788 Posts
476 Reputation
Pro
#4
Their rates are nothing spectacular to rave about. I think that is how they make it up. I guess I'll keep waiting. The offer is good until oct. Assuming the feds keeps the rates low until then.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2008
L10:Master
2,151 Posts
335 Reputation
Pro
#5
What are the refinance rates right now for 15 year mortgage?
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2012
L2: Beginner
47 Posts
33 Reputation
#6
***To qualify, must be in approved state. In the mortgage application, your current address must be in one of the following states: AL, AZ, CA, CO, CT, FL, GA, IL, IN, MA, MD, MI, MN, NC, NJ, NY, OH, PA, SC, TN, TX, UT, VA, WA, WI (each, an "eligible State");
Reply Helpful Comment? 1 0
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2015
L2: Beginner
75 Posts
101 Reputation
#7
Quote from Travis64
:
What are the refinance rates right now for 15 year mortgage?
2.75 to 3.00 depending on lenders and credit score.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Jun 2009
L7: Teacher
2,788 Posts
476 Reputation
Pro
#8
Quote from Travis64
:
What are the refinance rates right now for 15 year mortgage?
from what i can check, quicken loan is doing 3.125% with 2 points purchase. Apr is around 3.6% Which is not a great deal. Navy fed has 2.75 with 0.75 point purchase. Apr is 3.0%

I much rather go with navy fed.
Reply Helpful Comment? 1 0

Sign up for a Slickdeals account to remove this ad.

This comment has been rated as unhelpful by Slickdeals users
Joined Jan 2008
L9: Master
4,608 Posts
701 Reputation
#9
They will play games with the interest rate to make that money back. It's sort of the same way lenders for new construction can advertise no closings costs.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Aug 2008
L2: Beginner
28 Posts
42 Reputation
#10
Can you take the loan and repay immediately? What are closing costs? Presuming no up-front points?
Reply Helpful Comment? 0 3
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2005
L3: Novice
115 Posts
34 Reputation
#11
I have my home financed with Quicken Loans, nothing great but were able to beat all my local providers. However they do call about every 6 months looking to refinance, usually not worth it when just adding additional principal.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2004
L6: Expert
1,321 Posts
260 Reputation
#12
When looking for a mortgage or refi, always shop around. This is one particular place you can shop. Take the $2500 credit into account when comparing to other places - it may or may not beat them out.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2016
New User
8 Posts
10 Reputation
#13
Quote from Zorn
:
Got an email from American Express, similar to the deal they had earlier this year they are partnering with Quicken Loans and offering $2,500 statement credit if you refinance or close on a mortgage through their link:

https://www.americanexpress.com/u...ken-loans/

Seems to be a decent deal if you were looking to refinance anyway. I'm usually out of luck on these due to the archaic rules about commercial space in a building. Hopefully it's helpful for some.
" exclusively for eligible Card Members"
How one checks if she/he is an eligible Card Member"?
They ask to apply w/o actually telling you if you are an "eligible Card member".
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2005
L4: Apprentice
1,228 Posts
518 Reputation
Original Poster
#14
Quote from andysld
:
" exclusively for eligible Card Members"
How one checks if she/he is an eligible Card Member"?
They ask to apply w/o actually telling you if you are an "eligible Card member".
As long as you have a personal Amex card and sign up through the Amex link for this offer. They had a very similar one for better.com and people who weren't specifically targeted but signed up through the Amex link still got the credit.
Reply Helpful Comment? 0 0
This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2016
New User
8 Posts
10 Reputation
#15
Quote from Damitguy
:
2.75 to 3.00 depending on lenders and credit score.
https://www.quickenloans.com/mortgage-rates
3.125% IR, 3.6% APR - way too expensive
Reply Helpful Comment? 0 0
Page 1 of 5
1 2 3 4 5
Join the Conversation
Add a Comment
 
Link Copied to Clipboard