Executive member
Regardless of the market, people need to know when they have a good deal in hand.
It’s so common w leasing.
A good deal is a good deal. You must be comfortable enough with it, that if the prices goes down slightly in coming months, you won’t beat yourself up over it.
Like you noted above, you saved $560/Month.
If rates when down slightly more and you saved another $20, great, but it’s the first $560 that makes the difference. Not the last $20.
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It’s so true about car leasing too. We’ve seen so many people on here with a good deal in their hands and they’re asking about what the next month might bring!
Refi rates were at an all time low. That’s all I needed to hear to lock.
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The better.com deal seems to be select card holders, can’t get the link to work and don’t see anything in my offers
Strange. I have six personal American Express cards tied to 3 different login IDs.
Login 1: Offer is on 4 of 4 cards (3 revolvers and 1 charge card)
Login 2: Offer is on 1 of 1 card (revolver)
Login 3: Offer is on 0 of 1 card (revolver)
I’m sure you know where to look, but in case anyone else is interested but doesn’t know where to check for offers, here’s a visual (log in from a browser and scroll to the bottom of the page):
The “Get Offer” button leads to another page on the americanexpress.com domain:
[there’s more content, terms, etc, by scrolling down]
And then the link I posted above leads to the better.com URL I posted above (Simple, Online Mortgage | Better Mortgage):
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Still couldn’t find it, but your link worked that time!
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You do not need to see the offer on your list, as long as you have one of the following cards. I’d go through the link @trism has above though. Another way of knowing you qualify is if there is no appraisal charge on the LE they provide.
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I just have the regular old Blue card, so I probably don’t qualify
Damn, looks like I need to add an AMEX, assuming they extend this promotion past july
I was told underwriting has gotten quite strict. Are you guys hearing anything different.
Funny you ask, just saw a headline pass my scream ”why getting mortgage is harder now”
Didn’t read it but my guess it is true since there are news articles with that headline to get attention.
Oh man, wish I’d seen that sooner. Currently halfway through a refi with better.com and have a few Amex cards, would have been nice to pick up the extra $2,500.
If you aren’t done, I’d call and ask them if they can apply the Amex promo to your deal.
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Underwriting is getting more strict w DTI ratios and investors are also. Investors being the BB&T or Wells Fargo’s of the world who buy the notes.
Banks that hold their own paper may have a little more flex at this time, but not necessarily.
We’re in the process of buying a new home ( offer accepted but pre P&S) and actively working on the mortgage.
Thanks, I’ll give that a shot.
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I was trying to find the article I was reading this weekend but it said JP Morgan mortgages will require 20% down and 700 credit score
I spoke w my broker tonight.
We did a 60 day lock at 3.625% for 30 fixed w 0 points on a note between $510K and $690K. 20% down and top credit.
He said the market fluctuated from 3.5-3.625% today, but I didn’t want to risk it going up by waiting a few more days. Every 1/8 of a point is about $50.
Sticking with my guns and taking a good deal while I have it.
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One step closer to the new home. What does the buy down look like with points. If you plan on keeping this one for awhile why not push it closer to 3%. On a new purchase it makes sense on a refinance with rates this low I say go for no pts.
I looked at it both without amex and with amex. They took appraisal cee and added it to points. That was my case at least. Good rates though but not at 3% like someone mentioned above.
Those dirty bastards (and I’m not joking… don’t call something free when it isn’t!).
The $2,500 statement credit may not close the gap compared to other options that are out there for your particular scenario (lots of variables in mortgage pricing), but it’s definitely worth a look to see if it’s a contender.
If nothing else, find a more appealing deal and follow the terms of Better’s pricing guarantee, and walk away with a more attractive mortgage and their $1,000. 