AmeriSave Mortgage

I got a couple of more quotes from some other companies after I spoke with Russell. I was considering three companies and gave them all equal shots. In the end, I felt most confident with Russell. He seemed pretty good and quick. He answered my phone when I called him back. I'm used to using the local banks and credit unions because I can talk to somebody. If I got a question or problem, I don't want to wait or email. I got a good vibe from Russell and he was really thorough.

AmeriSave had a good rate too. The other companies said they could match the rate but I said I was already working with somebody. Unless they can really beat it by a lot, I’m not gonna switch because if they matched things, there would be no sense for me to change. As for the closing costs with AmeriSave, they were more than what I thought were reasonable. I’m like, “I'm saving 2.25% in interest and it was a bunch of money, $290,000. I was paying a principal-only payment right now. And it’s like 5,000 bucks a month. So, I’m pissing money fast anyways..."

Russell quoted me a rate and in the long run, it was going to be higher than that. It was like 9,000. By the time it got all said and done, it was 12,000. I was already 90% through the process. I looked at the closing cost numbers and it is what it is. It seemed all legit. AmeriSave made some errors. I told Russell, “I don't have any money at closing right now. I just got hit, with three properties I own, with taxes." I already rate-locked and Russell said he could adjust that and he took care of it. I was just really happy with Russell.

I recommended AmeriSave to my son. He's looking for a new house and I told him to talk to Russell when he was ready to go. I said, “He helped us out. He did good. There was nothing that was a big surprise.” I’m in my mid-50s and I've refinanced a thousand times and this one went really smoothly. Russell was a point guy, which I liked. I get calls from other departments and they would ask for something that I already sent. Russel would an email saying he would take care of things and to not worry. He was always there to help through the process. When it went to underwriting and they wanted stuff, I'd send something. When I don't hear anything back, Russell would go, “Oh, let me get back to you.” “Yup, we're all set.” “Okay, good. I got some feedback.”

When it started reaching up to the level above Carlo, it started getting a bit challenging because there were some things that were lost in translation at communication as far as my benefits as a veteran. That was one of the biggest things that I was looking for like the tax exemption that I'm entitled to as a 100% disabled veteran. I had to resubmit that two or three times because they were not receiving it. They were simply forgetting certain things that I had told them as far as documents that are required for appraisal.

One of the common things is there being a termite inspection that's required but in the state of Minnesota, it’s not required because termites don't like the climate here in the super cold. I had to repeatedly tell them that. That was half of the reason why the process took a bit long. Near the back end of the process, it got a little bit frustrating because there were some things that I was really banking on and it fell flat. When we did the final closing, it still wasn't reflecting this is what the first mortgage payment is gonna be and how it’s gonna look in the future.

When I told them that I had submitted the property tax exemption form from the county tax office, they said that they were going to submit it, process it, and it should reflect by the time the first statement comes. That first statement came and it still didn't reflect. I had to call customer service and explain the issue but they said they can't change the mortgage payment. Once it gets processed and I make that first mortgage payment, they'll send the difference via check, but that was not what I was hoping.

That aside, Carlo kept me up to date on everything, even when it was bumped up on higher levels like the underwriters. He kept them in the loop as far as our conversation of what we have, what I was looking for, and the rates I was looking for so everybody would be on the same page. There was one point in the process where I thought the whole thing was gonna fall through. But Carlo gave me a call and reassured me that it wasn't quite a done deal as far as the plan falling through to do a refinance. He was very persistent and comforting throughout the whole process. The process took about five or six weeks.

The rates were fair, considering where the current rates are right now. With certain bypasses that the V A offered, there were a lot of things that I was able to do that the traditional applicant wouldn't be able to do. I'm satisfied with the rates. I was also assured that after my sixth mortgage payment, AmeriSave will revisit the APR rate. If it has lowered, they'll reconfigure the rate. Carlo has been very informative as far as the options that I have as someone who can use the VA to their advantage.

The person that reached out to me just at the tail end of all the repairs was from AmeriSave and said that I had inquired and asked if I was still interested. I said yes. Both of those people had left the company during my time of working with them, so that part was a little bit delayed in trying to get all the paperwork. It was a slow process of getting paperwork back and forth.

The third person that things got transferred to was Ernest and he was absolutely amazing. He took away all of the reservations I may have had from that initial stuff. He was really on it as far as getting everything through and in explaining exactly what I needed and getting it sent to him and everything getting loaded. He kept in touch almost daily every step of the way, all the way up through the closing.

There was a little switch right at closing where I needed to be titled a certain way. It was a joint survivorship title and not a regular title. Ernest was able to assist with as well to get connected with everybody. It left me with very positive thoughts about the company. In fact, I've already sent Ernest a few people to work with as far as getting preapproved to buy a home.

Unfortunately, by the time I got done with my repairs, it was right at that cut when the rate started going up. So I had to pay a little extra fee to buy down the rate a little bit. My fees were a little high, but that was not on Ernest. In fact, he may have lowered it just a little bit to make it a little bit more user-friendly. The initial fees were applied by the first person that was no longer there. But he went through and adjusted it. So the rate was not so horrible. I do hope one day the rates fall, and I'll definitely refinance. But for the given situation, it was fine. Overall, it was a quick simple process. Anything difficult about the process was self-induced. It was not on AmeriSave.

Things were straightforward. There was stuff that was set up there in the queue that we had to go through and follow through. There was a lot of text messaging that would come and say, “This is in there right now. Could you please go in and download it and save it somewhere on your computer or somewhere else like that.” They were very nice with their communications through text, call, or email. Things were pretty simple. You’re kept updated with everything like what was going on. When you leave them a message, they would get back to you. They let you see what was the holdup on their end. It wasn't just them. They could be waiting on the title company or for the courthouse and there was a deed of records.

9 times out of 10, if it was gonna take a little bit longer and I didn't get a text message or an email, I got to pick up the phone. They picked up the phone and told me what was going on and that they wanted me to be aware. I wasn't just working with my loan officer. There was also the rep that I dealt with. I also had her as well. The loan officer would call and tell me then the other rep would call me as well just to make sure I got the message.

Things took a little bit longer than usual but it wasn't AmeriSave's mistake. It was a mistake from the title company. They got it through their queue too quickly and they weren't supposed to process it yet. We had to have a house appraised a second time. That was okay because it was the same guy who came back. My house went up an extra $5,000.

Compared to Quicken Loans, AmeriSave said our house is worth a lot more. My husband and I aren’t even done with the renovations. We're gonna be redoing four bedrooms, updating a little bit in our bathroom, repainting and sealing our basement, and adding a half bath. The house was built in 1890 so there are a lot of upgrades that need to be done.

One time, AmeriSave called and left me a message and I called them back. We were playing phone tag and they finally got back to me. They said, “The courts and the data records, especially since where you live at, your court system, it takes forever to get back.” I understood that. I work in HR and I work for a large staffing firm so I know how the court systems work.

Everything was great with AmeriSave Mortgage. The only thing I'm dealing with right now is the extra insurance coverage on the mortgage that they want you to have. It's not just them. Third-party companies are also reaching out. A lady said to me, “We have this extra. If you want to sign up for it, go ahead. If you don't, just skip it or leave it there. If you already have insurance or homeowners insurance somewhere else, or you have extra life insurance or certain things like that, just get it. Don't worry about it.” That was good enough for me. They weren't pushy.

I have already recommended to people that who are looking to refinance to go to AmeriSave. I tell a lot of my neighbors to fix up their places because that would increase the value of the house. On the whole, I will call back AmeriSave and redo it all over again if I need to refinance in the future, which I'll probably end up having to do once I get more projects done.

I just contacted him in the emails. We went back and forth and said, “Hey, I'm buying a house. Let's go.” He said, “Hey, okay, Kharemma. What's going on? What you buying? What you doing?” He got everything set up. It was easy. I closed my refi in less than 12 days. And I closed on my house. They had the loan done in almost two weeks prior to my closing. I will make sure that he sells so many houses. I will tell everyone I know that he is the only person to work with. He closed the deal personally, single-handedly.

I had a lot of options, but he talked me through them to go over what was best for me and my family. It was looking for the best for me. We compared numbers. We did math on paper. If I was being competitive with three different companies, he said, “Yes, so I can tell you this. If they're able to offer you this, this and this, we wouldn't be able to beat that price ‘cause you wanna go ahead and say this, this and this. But if they can't do this for you, then you're gonna be wasting money.” I don't know anyone that would have went out of their way to do that for me. Especially after the fact that I was dealing with three different companies. And the comparison in the customer service and what he did for me.

He said, “I don't care what I gotta do for you, Kharemma, if I get the loan or not. I'm gonna help you make sure that you don't make a mistake in buying a home for your family. I've helped you with your refi. I know how you are about your finances and the future of your family, so I'm gonna make sure that you get the best deal you can get, whether it's with me and our company or not.”

I understand about competition, but I was in the rock and a hard place. I could not afford to make a mistake. This is a big jump for me. And he made sure he walked me through every step holding my hand, and I felt appreciated. He cared about my family and my finances and me not being house broke and not taking on more than I could chew based on what he could see. I would advise AmeriSave to offer him a raise or another position to train. Because any time I've called in to any other agent, they could not get anywhere near what he provided for me. I would hang up.

He had four loans from everyone else. I know they go through things. And I've told them, “No, I have an agent that I work with.” “Well, I'm the one who pulled your—” “I don't care who pulled it. I won't work with you. I want him.” And I contacted him. He had to go through some things and I let him know, “I don't care. You can let them know that I'm not working with anyone else, or you can lose the loan.” It was a lot because of the start of the online, but I have went through my old portal, and I was trying to find it. And it jstarted a new one instead of getting me to him, so I started off incorrectly. But I found him. And he's about to make a lot of money.

He keeps in touch. He still contacts. “Hey, how do you like your house?” He will email me first thing. I'm talking first in the morning. “Hey, in case there’s any questions, call me. I’m available. Here's my cell. Any time, if you have any questions, don't be in limbo. I don't want you to have to wait. I wanna answer all your concerns. I wanna help you. I wanna do this.” Up over and beyond. He is a wonderful person. A person, because people like to do business with people. If you want hands down somebody that jumps over every hoop for you, his name is Cody.

I got a conventional loan, a 30-year mortgage with a rate of 5.25. The process was completely online and all we had to do was scan and upload things into the website. Once it was reviewed, it was checked off. Their online application was very easy to use. I didn't have any difficulty at all navigating or trying to figure out what they needed. Also, whatever feedback they gave me was put in layman's terms.

I let the loan processor know. His name was Eli. He was great throughout the whole process and I don't think it was his fault because he was just the loan processor. It was the other people like underwriting, title, and all of that were involved. They knew the situation that I had to get this closed based on my divorce decree. I had a deadline that I had to get this done by. So, maybe they were like, "Well, she can't do anything about it, so we're just gonna keep on packing it on," which I feel was unfair. Other than that, everything else is fine.