Amex Better Mortgage Offer, Get Up to $6,000 Credit
American Express has a new promotion for up to $6,000 statement credit for refinancing or applying for a new mortgage. The offer is tied to a specific American Express card, but there is also a public offer page, so it should be available to everyone. In order to get the bonus you need to get a mortgage through Better Mortgage. Better Mortgage is an online platform for mortgage origination and related services. You need to apply by 4/4/24 and close by 7/8/24 to qualify for the statement credit.
There are two parts to this offer, depending on what type of loan you need:
- Get a $2,000 American Express statement credit after you refinance or finance your home purchase with a conforming mortgage from Better Mortgage.
- Get a $6,000 American Express statement credit after you refinance or finance your home purchase with a jumbo mortgage from Better Mortgage.
Check out the offer page here.
This offer is different from a credit card sign up bonus or a bank offer. Refinancing your mortgage just to get a bonus is not a great idea, especially now that rates are much higher than usual. But if you’re in the market for a mortgage, then it’s worth checking their rates and see how they compare to other providers.
Offer Terms
- To be eligible for the statement credit, lock your rate by 4/4/24 and close by 7/8/24.
- To receive the statement credit, the eligible Card Member must be a borrower or co-borrower(s) on the loan application and enter their own 15-digit card number when prompted by Better Mortgage. The card account must not be in a cancelled status at the time the statement credit is applied.
- This offer is only available for mortgages on properties located in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New York, New Mexico, North Carolina, North Dakota, New Hampshire, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and Washington, DC.
- Offer cannot be retroactively applied to previously closed loans.
- This offer is not available to: Additional Card Members or holders of American Express Corporate Cards, Small Business Cards, Prepaid Cards and products, and American Express-branded cards or account numbers issued by other financial institutions.
- The statement credit will be applied to an eligible Card Member’s account 8-12 weeks after their mortgage loan is funded.
Guru’s Wrap-up
The bonus alone is probably not enough reason to go with Better Mortgage for your new mortgage or to refinance. But if the numbers work out and mortgage rates make sense for you, then an extra $2,000 or $6,000 can make a a difference. That could easily take care of closing costs.
The bigger bonus only applies to jumbo loans. These are mortgages larger than the limit set every year by the FHFA. These loans are usually for purchases in more expensive markets.
