AmeriSave Mortgage
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AmeriSave Mortgage

 4.7/5 (702 ratings)
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AmeriSave Mortgage
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Written by Jessica Render
Edited by Jon Bortin

About AmeriSave Mortgage

AmeriSave Mortgage Corporation is an online, direct-to-consumer lender for home loans in 49 states and Washington, D.C. The company also offers refinancing options for those who want to lower their payment or take out cash. AmeriSave has funded over $103 billion in home loans since 2002.

Overall Satisfaction Rating

  • 5 stars
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Pros

  • Variety of loan programs
  • Free calculator tools online
  • Customized rate quotes in less than 3 minutes
  • Options with low down payment

Cons

  • Not available in New York
  • No financing for manufactured homes

Bottom Line

AmeriSave offers a wide range of loan services in most states. Eligible borrowers can find competitive rates for buying a house or refinancing an existing loan, and the company has an average time of 34 days to closing.

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Rated with 5 stars
Verified

My husband found Amerisave and thought their rates were good. We went with them and enjoyed the experience tremendously. They were very quick, very easy and very forthcoming which...

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Rated with 5 stars
Verified

I wanted a lower interest rate and to take some cash out so I got refinancing through AmeriSave. Everything was amazing… The rates and terms that I got were good. I was talking to...

Read full review

What is AmeriSave Mortgage?

AmeriSave is an online mortgage lender. The company offers various types of loans for buying a home or refinancing an existing mortgage. It specializes in the following types of conventional and government-backed mortgage loans:

  • Fixed-rate loans
  • Adjustable-rate loans
  • FHA loans
  • VA loans
  • USDA loans
  • Jumbo loans
  • Cash-out refinancing
  • Rate and term refinancing

AmeriSave Mortgage rates and fees

Mortgage rates change frequently and vary based on your loan term, credit history and mortgage type. For the most accurate current rates, contact AmeriSave for a customized online quote. The lender provides quotes in less than three minutes without requiring your Social Security number and with no impact on your credit.

AmeriSave offers multiple helpful features to make your homebuying process more manageable, including:

  • Lock & Shop rates: AmeriSave offers a 90-day certified Lock & Shop interest rate that protects you from rate hikes while you’re shopping for a house. The locked rate does not require a signed purchase contract and is not subject to 30-year conventional loan restrictions, which gives you more flexibility.
  • Certified approval letter: AmerSave issues a certified approval letter within hours after you’re approved so you can begin shopping for a home. The certified approval letter verifies that your income and credit history meet the loan underwriting standards, which shows the seller you’re able to follow through on the home purchase.
  • Certified Closing Promise: AmeriSave promises to pay you $1,500 if your loan doesn’t close, but restrictions apply. Talk to an AmeriSave representative about the Certified Closing Promise to see if you’re eligible.

AmeriSave Mortgage doesn’t disclose all fees online, but there is a $500 application fee that's refunded at the completion of the loan, according to verified reviews. As with any mortgage, expect to pay additional expenses (like closing costs).

AmeriSave FAQ

What are AmeriSave’s minimum borrower requirements?

The minimum credit score for a conventional loan from AmeriSave is 620. For FHA loans, it's 600, but for FHA loans over $700,000, you must have a credit score of at least 640. Homeowners must have 20% equity to be eligible for a cash-out refinance.

How does AmeriSave work?

To apply for a mortgage loan or receive a customized rate from AmeriSave, visit its website and complete the following steps:

  1. Provide your information. Each quote is customized to your specific situation but does not require personal identifying information, such as your Social Security number.
  2. Get pre-qualified. Customers can pre-qualify for a loan in just a few minutes.
  3. Compare quote options. View a variety of options with no hard credit pull and no hidden fees.
  4. Apply online. Pick which quote is best for you and apply directly online or by calling the company.
  5. Schedule your closing date. AmeriSave schedules closing at a time and location convenient for you.
Can I pay my AmeriSave mortgage online?

AmeriSave has an online portal for customers to pay their bills and manage their mortgages.

How does AmeriSave verify my assets?

AmeriSave offers paperless asset verification through AccountChek.

Where is AmeriSave located?

AmeriSave Mortgage Corporation is based in Atlanta.

What is Amerisave’s application process?

You can view your mortgages rates and get pre-qualified with Amerisave without a hard credit check. You can apply online or call AmeriSave Monday through Friday. Be prepared to provide information about your income and assets; AmeriSave uses these details to determine how much you can borrow and give you preapproval. The company says that 50% of its customers close their loans in an average of 25 days after locking in their rate.

Does Amerisave charge origination fees?

Amerisave does not charge an origination fee on its FHA, VA and USDA loans.

Does Amerisave have branch retail locations?

Amerisave does not have any branch retail locations.

Is AmeriSave legit?

AmeriSave is a legitimate mortgage company that has received positive reviews from customers on ConsumerAffairs. The company’s Lock & Shop rate lock and Certified Closing Promise are great options for homebuyers, and the company’s wide variety of loans helps you find one that fits your needs.

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How do I know I can trust these reviews about AmeriSave Mortgage?
How do I know I can trust these reviews about AmeriSave Mortgage Corporation?
  • 3,907,547 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 27, 2022

My husband and I never did FHA when we bought homes and AmeriSave wanted to do FHA. I didn’t argue with them. AmeriSave kept talking about the appraisal. I said that nobody had been here to do an appraisal yet and I didn't know what was going on. They said that they were gonna send somebody else out. They set up one date. I waited for the man all day but he did not show up. Finally, this man called me and said that AmeriSave called him and wanted him to come out and do my appraisal. But he doesn’t do those FHA appraisals. I asked when we were going to have the closing and AmeriSave said that they were waiting on the appraisal. I asked who was gonna appraise it and they said they called a man. I said that the guy was not going to do it because he doesn't do FHAs anymore. He only does banks.

Finally, a man called me one day and we set up an appointment. He showed up, appraised it, and wanted me to fix a whole bunch of problems. I said that I was getting some cash out to fix the problems. If I had the money to fix the problems, I wouldn’t be getting a cash out. AmeriSave turned around and switched the loan to a conventional loan. I had to go through that process again but the guy didn't come out and inspect it anymore. It went smoothly after that. My only thing is, I wish I could get a nice, big folder. All I've got is a bunch of loose papers in a wrinkled-up folder. I wish I had all my information that the rep brought me in something better than the way I've got it. Other than that, I'm happy. The work is getting done and these guys are absolutely going crazy. It's looking better and better.

I was disappointed that I didn't get a lower rate because at the time I did it, the rates were down. I was told it was because of my credit score, which I understand that too. They gave me two point something. I don't know if the conventional loan changed it up to 3.5 because I was 4.5 when I started. I was wishing I could have got a lower rate but at least I got it done. So, all is well. The lady I worked with was very nice and anything I asked her, she answered me. She was right on top of everything and I have no complaints there. Everyone was very nice. It was just one of those things that it didn't do you any good to get upset over it. It was going to work out the way it worked out.

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AmeriSave Mortgage response

Hello Wanda, thank you for sharing your experience. Your feedback is very much appreciated.

4 people found this review helpful

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: March 18, 2022

    I've worked with AmeriSave before in the past and that was why I reached out to have them do both of my refis. I've always carried high regard and remarks for this team. AmeriSave is my go-to. Peter, my rep, is great and friendly. We seemed to touch base on lots of different side matters that were relative but also investigative. He was able to have the knowledge and ability to know what was coming up next. He would question me about certain things and I’d question him about certain things. So, he is very skilled. He went the extra mile, too. Sometime through the process, you'll have a processor, but there'll be times that Peter would still intercept and help out, saying, “I know Cindy is your processor, but make sure you did this," or, "You had a question about that. I can try to field your questions.”

    For my primary residence, I questioned my appraisal because the number came pretty darn low. I don't know if it's just because he's an older fella and this is his business practice and this is what he does, but it doesn't seem like he went the whole mile. He didn't compare apples to apples. He took my house and took the square footage downstairs, which is true. The gross living area is just above the ground. You can't count any of the walkout areas. Around the United States, some count partial downstairs walkout areas where that wall is not earth-bermed. When you look at his comparables to all the houses all around me that are within a mile of me, it looked like the square footage on those houses was something he pulled off right out of Zillow. My Zillow says I'm 3,608 square feet, but the gross living area might have been about 2,500.

    My neighbor that he compared me to didn't eliminate the square footage for what's below. So, my square foot per thing came out contrary to some of the neighbors because I don't believe that he was comparing apples to apples. He’d go ahead and did the GLA because he walked it but he didn't look at, “Oh, the house that I'm comparing them to, oh, it's got a downstairs walkout too.”

    The appraiser at the townhouse did fine and was professional. I had tenants there. My tenants were very cool to allow this to happen. They had the house cleaned up. Doing a townhouse is a lot faster than doing a big house like this. So, it took less time and I think that was great because we are sort of like intruding on, even though it's my property, someone else's home.

    AmeriSave Mortgage response

    Hello Douglas, and thank you for allowing us to serve you again! We also thank you so much for this great feedback! We love to hear about the outstanding experiences our customers have at AmeriSave, and we are happy that you our team took such great care of you. We look forward to helping you again in the future and appreciate your business and the review!

    6 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 11, 2021

    My experience was interesting and efficient. It was the first time I had dealt with a completely online operation for signing and going through the whole process. It was pretty easy to navigate through the website for the most part. There were some little rough edges for me. I happened to be computer savvy for a long time I spent my career in data processing and computerized systems and engineering. Some things in the AmeriSave site weren't quite well-defined. I will suggest that when you start to use the task system that you get a little bit more information about it. I didn't understand that there were other parts of that that I could use, like to transfer my document. I thought I was only allowed to use the task part. So there were a couple of times I had tried to get information to someone. If I had known it sooner, I would have done it the proper way. But eventually, I got onto it and I asked some questions and I got the answers.

    When the process first started off, I was a little bit frustrated because I felt like it was kinda under a wire. But that was because I was trying to buy a house somewhere and was trying to get a mortgage and I had a lot going on. So it was just being exposed to a new system and I had anxiety because I hadn't been through the process. But after going through it, with the help I got along the way, it was terrific. They always answered clearly and if I had follow up questions, they were handled very nicely.

    The rep was very helpful and always available to me. I called him at different times. It was almost all day long and on after night. So whenever I got stuck with processing or I didn't understand something, he was my go-to guy and he would get a response for my question as soon as possible or tell me what I needed to do. I was trying to get into an investment property and use an investment loan for that purpose. The rate was a little bit high, but it was acceptable to me for what I was getting and I was in a big hurry to get it done. AmeriSave helped me to get it done quickly.

    AmeriSave Mortgage response

    David, thank you so much for this great feedback! We use it to improve when and where we can. We will look into your experience and see where we can improve on our up front technology interaction. We love to hear about the outstanding experiences our customers have at AmeriSave, and we are happy that our team were able to take such great care of you. We look forward to helping you again in the future and appreciate your business and the review!

    Bryan Owen

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 26, 2021

    I did a refi through AmeriSave in early 2020 and they were good enough to work with so I tried again. I went through the whole process and there was the guy who was supposed to handle the closing and he was an idiot. I had a couple of dates set up because there were some concerns about my property taxes and he wanted to push the whole process to close. He asked if this day would be right for closing and I told him that I'd be going to Mexico at that time. He said that they've got escrow people who could sign things anywhere in the US and he asked which city I'd be in. I repeated that I'd be going to Mexico and when I told him the city I'd be in, he said that they don't have anybody out of the country. Well, I knew that. I asked him a few questions about the basic paperwork and it was clear that he had never looked at any of the paperwork before calling me.

    When I came back from my vacation, he wanted to close again and I asked him a few questions about if the paperwork got updated or if it was correct. He would look at it and he didn't know what was going on. They tried to add in my property tax payments into the close so my loan was going to go up. I said I didn't want that. I asked where did that number come from and he didn't know and that happened a couple of different times. Finally, I had to tell him I was looking through the paperwork and that it was fixed that time. He just didn't seem to care and rankled me in all the wrong ways. But then, Johann, the guy I worked with, cared about me and he wanted everything to happen for the right reasons. When I raised some objections to the closing dates, he got it. He was clear with that. In the end, everything was fine. Johann made sure everything was taken care of.

    AmeriSave Mortgage response

    Kevin, thank you so much for this feedback. We read it and take it seriously. Information like this help us improve in areas that need attention. We will take a look at your loan process/experience with a particular focus on the "closing" portion. We will clean up and train where we can. Thank you again for taking the time to send this and we may reach out to get a little more information. We love to hear about the experiences our customers have at AmeriSave, and we are happy that Jhoan took such great care of you. We look forward to helping you again in the future and thank you again for the review!

    Bryan Owen

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 10, 2021

    I hadn’t made up my mind to go. But when the rep started giving me the information that I asked, he had the answers. They didn't seem like rehearsals. It didn't sound like somebody was reading off a script to me. That’s the biggest thing for me. It sounded like a sincere-- it was like you weren’t talking to somebody who had been trained on every little thing to say to punch the buttons. The guy who did it made the sale for AmeriSave. I got to checking AmeriSave after I talked with him. After the whole process, I’d be much more ready to recommend AmeriSave. Everybody that worked with them, there was so much cooperation. It seemed like they had a good thing. It just seemed like they were giving out good information, and they were legitimately trying to help me get what I needed the most. And I was impressed. It's a hard thing to get me impressed.

    On the front end of the process, AmeriSave might want to be a bit more specific about exactly what it is they are looking for in the documents. The downloading part, it wasn't that hard. And to be the kind of company they are, they have to be as thorough. But there were a few things that they were asking in the process which I've never had to answer before. But that is the most negative thing I could say about AmeriSave. That’s the only time I felt disconnected. Also, it would be nice if AmeriSave had an app.

    For instance, a credit card company that I deal with has the crazy best app that I've ever used for a credit card is Capital One. I can see my balance, I can make a payment through that. It makes making the payments easier through that system, and it always lets me know exactly where I'm at, how much I owe, when it's due. And they send me notifications, “Don't forget to make the payments.” It also allows me to make an automatic payment, so that I don't have to do it every month. And I can do it through that. If AmeriSave would do that, especially since they all service the mortgages after the fact, which I am so happy about, that was the icing on the cake. Because I felt like, “Well, they really want this.”

    I know making phone calls because people don't make their payments on time costs a lot of money, to pay those people to make those calls. AmeriSave would see a crazy amount of easiness where people would make their payments on time. They didn't have to call and try to work it through the internet, but rather through a mobile device. AmeriSave would see a crazy amount of increased production that way.

    AmeriSave Mortgage response

    Good morning Clint. Thank you so much for this great feedback! We love to hear about the outstanding experiences our customers have at AmeriSave, and we are happy that Dylan took such great care of you! We appreciate the feedback above and we will take a look at the process and see where we can use your suggestions to make the process easier for others. We look forward to helping you again in the future and appreciate your business and the review!

    Bryan Owen

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 28, 2022

    I applied for a cash-out financing with AmeriSave. At underwriting they said that Fannie Mae and Freddie Mac will not warranty the property. That was a lie because Freddie Mac does but Fannie Mae doesn’t unless AmeriSave asked for an exception, which they refused to do. This warrantability issue is supposed to be checked at the beginning of the application but they did not. They closed my file and they refuse to refund the money I paid for the now useless appraisal report.

    AmeriSave Mortgage response

    Susie Charbel, This has been reviewed and responded to from our Compliance Dept. with AmeriSave. Please contact them directly with any further questions and/or concerns that you might have. Thank you.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: July 24, 2022

    We did an initial pre-screening application for a refinance with AmeriSave. After I checked all the boxes and was approved to move to the next step, we did the credit score and I did some information application standpoint regarding credit. They loaded a bunch of forms that I need to complete on the website. They have a mortgage portal so a lot of documents I had to sign and fill out were strictly online. We did a home appraisal and I had to wait for underwriting to show me that I met all of the qualifications. After the qualifications and the appraisal was done, we closed and all of this happened in two weeks.

    I had questions and my loan officer answered them. There was a lot of legal language and I'm not a legal person. If you couldn't read, you might have a problem understanding all of it. You can have an attorney, even a virtual one since everything was done not having to go into the office. You had opportunities where you could ask questions if you needed to. But because I pretty much just bought my house, I had all that stuff already answered.

    With AmeriSave, I got to pay off my car. I also paid off some bills that were driving me crazy trying to pay the bare minimum. It put money in my pocket and it has bettered my life. I don’t have to work a second job because I didn't have to pay all that other bills. AmeriSave was very cordial and they pretty much walk you through steps A through Z. If you follow the step, they will answer questions. If you have any concerns, they're very reachable. I called somebody at 9:30 in the night and got somebody. The loan officer, application officer, and appraisal guy were really nice. The first that came out did the notary in my house and it was seamless.

    AmeriSave Mortgage response

    Ieschecia, Thank you for your feedback! We work hard to offer the best mortgage experience which is supported by your kind words. If you should need anything further, please feel free to contact Customer Care at customercare@amerisave.com or 1-888-700-4026.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 23, 2022

    The loan officer was very honest, knowledgeable and kind. He's one of the best I've ever worked with. He did his best job to get me the lowest rates possible. AmeriSave seems to have really good employees that care.

    AmeriSave Mortgage response

    Toni Gladden, We are thrilled to hear that we proved you with top-notch service! we appreciate the feedback and look forward to working with you again soon. If you should need anything further, please feel free to contact Customer Care at customercare@amerisave.com of 1-888-700-4026

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 22, 2022

    We were interested in refinancing to pay off some credit card bills that we used for remodeling our house. We reached out and several companies called us. We went with this lady, Sarah of AmeriSave, and she wasn’t pushy. She wasn’t like a used car salesman like some of the others were. We went through the motions and it was done quickly. Sarah told us what she needed and we provided them. She took care of things. Within three weeks, we were done.

    We asked a lot of questions and Sarah was very patient and readily available. She always checked in. We had some issues trying to download a paper that she needed and she helped us along with that. She was very knowledgeable. All around, it was a great experience. AmeriSave was responsive and they explained everything in a detailed way so that we understood. The process worked great for me. I’d recommend this company highly.

    AmeriSave Mortgage response

    Mr. Steve Alderson, Thank you for taking the time to complete this review. We are happy to hear that AmeriSave was able to deliver a memorable experience and hope that in the future, we might have an opportunity to work with your friends and family. If you should need anything further, please feel free to contact Customer Care at customercare@amerisave.com or 1-888-700-4026

    Be the first one to find this review helpful
    Rated with 2 stars
    Verified Reviewer Verified Buyer
    Original review: July 21, 2022

    AmeriSave was the best. I got a good deal and a good interest rate. The online application process was really easy and it didn’t take that much time. Overall, I had a good experience. The loan processor lady was awesome. The manager, Mike, was as well. I really appreciate that. The only thing was I had an agent issue. If one of the lenders moved out, they have to provide all the information to the new agent. My experience was really bad. I had three people. The first one was a lady and she scheduled an appointment with me on Saturday. We talked on Friday. She didn’t show up on Saturday. If she didn't have time, she should not have scheduled that with me. You have to be really professional. Also, AmeriSave gave me 300 and something dollars and they added it to my discount point. It was zero discount point. That was really bad.

    The first lady moved out and she didn’t provide all the information I provided her to the other guy. He started from the beginning. That was a pain. When the third person came, he changed everything. The discount point was 3,000 something and he changed it to 5,000 something. He changed the interest rate too. After I discussed with him a bit, he talked with a manager and it took some time.

    AmeriSave Mortgage response

    Belete Nigusie, Thank you for taking the time to complete this review. We apologize that we did not meet the high standards of excellence that we strive for. A member of our Customer Care team will be reaching out to you shortly to address your concerns. You may also contact us at your convenience by calling 1-888-655-0906 and/or by sending an e-mail to resolutionteam@amerisave.com.

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    AmeriSave Mortgage Company Information

    Social media:
    Company Name:
    AmeriSave Mortgage Corporation
    Company Type:
    Private
    Year Founded:
    2002
    Address:
    3525 Piedmont Road NE, Building 8 - Suite 600
    City:
    Atlanta
    State/Province:
    GA
    Postal Code:
    30305
    Country:
    United States
    Website:
    www.amerisave.com

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