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expired Posted by Zorn • Jan 28, 2020
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expired Posted by Zorn • Jan 28, 2020

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

American Express Giftcards
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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.
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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.

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Jan 28, 2020
852 Posts
Joined Dec 2005
Jan 28, 2020
Atl golfer
Jan 28, 2020
852 Posts
They are making up for that credit somewhere. I'd be surprised if they were able to beat or match some traditional lenders.
Original Poster
Jan 28, 2020
1,375 Posts
Joined Sep 2005
Jan 28, 2020
Zorn
Original Poster
Jan 28, 2020
1,375 Posts
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+
Jan 28, 2020
3,972 Posts
Joined Jun 2009
Jan 28, 2020
LeviathanUltima
Jan 28, 2020
3,972 Posts
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.
Jan 28, 2020
2,603 Posts
Joined Dec 2008
Jan 28, 2020
Travis64
Jan 28, 2020
2,603 Posts
What are the refinance rates right now for 15 year mortgage?
Jan 28, 2020
264 Posts
Joined Jun 2012
Jan 28, 2020
infinitig37
Jan 28, 2020
264 Posts
***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");
Jan 28, 2020
169 Posts
Joined Sep 2015
Jan 28, 2020
Damitguy
Jan 28, 2020
169 Posts
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.
Jan 28, 2020
3,972 Posts
Joined Jun 2009
Jan 28, 2020
LeviathanUltima
Jan 28, 2020
3,972 Posts
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.

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Jan 28, 2020
5,963 Posts
Joined Jan 2008
Jan 28, 2020
Eagles89
Jan 28, 2020
5,963 Posts
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.
Jan 28, 2020
48 Posts
Joined Aug 2008
Jan 28, 2020
thesamurai
Jan 28, 2020
48 Posts
Can you take the loan and repay immediately? What are closing costs? Presuming no up-front points?
1
Jan 28, 2020
157 Posts
Joined Sep 2005
Jan 28, 2020
metalcoat
Jan 28, 2020
157 Posts
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.
Jan 28, 2020
1,527 Posts
Joined Sep 2004
Jan 28, 2020
dealmaster00
Jan 28, 2020
1,527 Posts
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.
Jan 28, 2020
8 Posts
Joined Dec 2016
Jan 28, 2020
andysld
Jan 28, 2020
8 Posts
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".
Original Poster
Jan 28, 2020
1,375 Posts
Joined Sep 2005
Jan 28, 2020
Zorn
Original Poster
Jan 28, 2020
1,375 Posts
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.
Jan 28, 2020
8 Posts
Joined Dec 2016
Jan 28, 2020
andysld
Jan 28, 2020
8 Posts
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

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Jan 28, 2020
1,909 Posts
Joined Nov 2011
Jan 28, 2020
inspir3d
Jan 28, 2020
1,909 Posts
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.
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