American Express Cardholders, Get Up to $6,000 Credit for New Mortgage or Refinance

Amex Rocket 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 Rocket Mortgage. Rocket Mortgage is the online and mobile-friendly mortgage application process developed by Quicken Loans. You need to apply by 9/13/22 and close by 12/17/22 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 Rocket Mortgage.
• Get a $6,000 American Express statement credit after you refinance or finance your home purchase with a jumbo mortgage from Rocket 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. You need to crunch some numbers because small changes on the interest rate of your mortgage will make a huge difference over the years. You should really sit down, check the rate you have for your mortgage, see what Rocket Mortgage can offer, and also figure out what fees are involved. If you already have a mortgage with Rocket Mortgage, it would make refinancing cheaper. Plus with the falling interest rates, some people could find that they can get a better deal even with the fees and closing costs that come with refinancing.

Offer Terms

• Lock your rate by 9/13/22 and close by 12/17/22 to qualify for the statement credit.
• The mortgage loan and mortgage services that are part of this offer are provided exclusively by Quicken Loans, and are not provided, underwritten or serviced by American Express.  This offer does not constitute an endorsement or recommendation of Quicken Loans or its mortgage services by American Express. American Express is not responsible for any of the activities of Quicken Loans.
• Offer only available on new purchase or refinance loans. Offer does not apply to loans submitted to Quicken Loans through a mortgage broker, Agency Plus loans, Portfolio Products, and Advantage Products. Cannot be combined with any other discounts or promotions. Acceptance of this offer constitutes acceptance of these terms and conditions.  Additional restrictions/conditions may apply.
• “Eligible Cards” include personal consumer American Express Cards. Prepaid Cards and products, American Express Corporate Cards, American Express Small Business Cards and American Express-branded cards or account numbers issued by other financial institutions are not eligible.  Additional Card Members on your account are not eligible for this offer.
• 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”)

Guru’s Wrap-up

The bonus alone is probably not enough reason 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.

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