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

Atl golfer

Jan 28, 2020 2:47 PM

867 Comments

Joined Dec 2005

Atl golferJan 28, 2020 2:47 PM

867 Comments

They are making up for that credit somewhere. I'd be surprised if they were able to beat or match some traditional lenders.

Zorn

Original Poster

Jan 28, 2020 2:50 PM

1.5K Comments

Joined Sep 2005

Zorn

Original Poster

Jan 28, 2020 2:50 PM

1.5K Comments

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+

LeviathanUltima

Jan 28, 2020 2:54 PM

4.1K Comments

Joined Jun 2009

LeviathanUltimaJan 28, 2020 2:54 PM

4.1K Comments

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.

Travis64

Jan 28, 2020 2:59 PM

2.6K Comments

Joined Dec 2008

Travis64Jan 28, 2020 2:59 PM

2.6K Comments

What are the refinance rates right now for 15 year mortgage?

infinitig37

Jan 28, 2020 3:05 PM

515 Comments

Joined Jun 2012

infinitig37Jan 28, 2020 3:05 PM

515 Comments

***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");

Damitguy

Jan 28, 2020 3:05 PM

170 Comments

Joined Sep 2015

DamitguyJan 28, 2020 3:05 PM

170 Comments

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.

LeviathanUltima

Jan 28, 2020 3:16 PM

4.1K Comments

Joined Jun 2009

LeviathanUltimaJan 28, 2020 3:16 PM

4.1K Comments

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.

Eagles89

Jan 28, 2020 3:27 PM

6K Comments

Joined Jan 2008

Eagles89Jan 28, 2020 3:27 PM

6K Comments

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.

thesamurai

Jan 28, 2020 3:53 PM

51 Comments

Joined Aug 2008

thesamuraiJan 28, 2020 3:53 PM

51 Comments

Can you take the loan and repay immediately? What are closing costs? Presuming no up-front points?

1

metalcoat

Jan 28, 2020 5:45 PM

162 Comments

Joined Sep 2005

metalcoatJan 28, 2020 5:45 PM

162 Comments

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.

dealmaster00

Pro

Jan 28, 2020 6:01 PM

1.6K Comments

Joined Sep 2004

dealmaster00

Pro

Jan 28, 2020 6:01 PM

1.6K Comments

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.

andysld

Jan 28, 2020 6:36 PM

8 Comments

Joined Dec 2016

andysldJan 28, 2020 6:36 PM

8 Comments

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".

Zorn

Original Poster

Jan 28, 2020 6:38 PM

1.5K Comments

Joined Sep 2005

Zorn

Original Poster

Jan 28, 2020 6:38 PM

1.5K Comments

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.

andysld

Jan 28, 2020 6:41 PM

8 Comments

Joined Dec 2016

andysldJan 28, 2020 6:41 PM

8 Comments

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

inspir3d

Jan 28, 2020 6:43 PM

2K Comments

Joined Nov 2011

inspir3dJan 28, 2020 6:43 PM

2K Comments

as fyi, please shop around, these guys are not good price wise when you compare.

Bankrate is a good benchmark to see where you are at.

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

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