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AmeriSave Mortgage
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AmeriSave Mortgage

 4.5/5 (890 ratings)
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AmeriSave Mortgage

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 $55 billion in home loans since 2002.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Variety of loan programs
  • Free calculator tools online
  • Quick online quote process

Cons

  • Not available in New York
  • Some closing delays

Bottom Line

AmeriSave offers a wide range of loan services in most states. Some customers complain about closing delays, but eligible borrowers can find affordable and fair rates for buying a house or refinancing an existing loan.

Top AmeriSave Mortgage Reviews

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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...

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What is AmeriSave?

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 nonconforming mortgage loans.

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

AmeriSave rates and fees

As of January 2021, the rate advertised for a 30-year fixed mortgage is 2.125%, with a 2.460% APR. This estimate is based on a $250,000 conventional refinance loan in Georgia, and assumes the borrower has a 740 FICO Score and 80% LTV (loan-to-value ratio). For the most accurate and up-to-date information available, use the free online rate tool to calculate rates for your situation.

AmeriSave Mortgage doesn’t disclose all fees online, but there is a nonrefundable $500 application fee, according to verified reviews. Expect to pay additional expenses, such as closing costs, as part of taking out a home loan.

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 580, but for FHA loans over $700,000, you must have a credit score of at least 640. Homeowners must have at least 20% equity to be eligible for a cash-out refinance.
How does AmeriSave work?
To apply for a mortgage loan or view mortgage options with 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 prequalified. Customers can prequalify 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?
Yes, AmeriSave has an online portal for customers to pay their bills and manage their mortgage.
How does AmeriSave verify my assets?
AmeriSave offers paperless asset verification through AccountChek.
Where is AmeriSave located?
AmeriSave Mortgage Corporation is based in Atlanta.

Is AmeriSave legit?

Yes, AmeriSave is a legitimate mortgage and refinancing company. It offers a range of programs that are good borrowing options for some people. However, not all applicants are eligible to take out a home loan.

AmeriSave Mortgage Reviews

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2 featured reviews
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?
  • 3,479,868 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.

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Page 1 Reviews 0 - 5
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

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 19, 2021

    I did a refinance with cash out. The process was prompt from the minute I entered the information, and then right away, I got a call from the rep. Yasmine called me right back and waited for the process. They were very clear. I had some concern. They were so quick and fast. I was like, "Is this a real company or not?" The application process is better than most. Go through all the information, it was collected. And it went well with whenever it needed to pull in my income information, so it was great. When you upload documents, sometimes it keeps asking for the same stuff even after you upload it. But it wasn't that big of a deal. Overall, it's almost better than Rocket Mortgage because I went through the same process. It's also better than Caliber Mortgage.

    AmeriSave did it in less than 30 days. And the underwriting took less than a week. The minute where we got all the information in, and they told me when I was approved. There were some last minute requests for some documentation. I was very happy with it. What they told me in the good based estimates on the beginning where we were at was always a judgment based on the actual cost of things. But overall, it was aligned exactly what he told me upfront. There wasn't any hanky-panky, like, "Oh, it's this." And then later on tell me, "By the way, there's a fee." I've done many mortgages before, and that part of it, company-wise was the best that I've ever experienced. And then, the customer service from the mortgage broker to the processor, to tell me the next step, I was very happy.

    I appreciate that people were very prompt, and the fact that I have multiple ways to talk to them, it fits in terms of my work schedule and needs. Because sometimes I like to talk to someone, but other times I'm so busy, I just like to post my questions right onto the site itself. And then the third way was the email. And in each occasion, it was all very prompt. And then even while we have to go through and schedule with third party with the closing, with the notary for final closing and also for the appraisal, that was done very smooth, even though it was a third party. They coordinated well for me.

    When I call Yasmine, it doesn't go to a voicemail. One time it did, and then she called me back right away. For the most part, she answered 99%. She was amazingly prompt every time I email her or call her. She calls me and tells me right away. She said, and then truly her behavior worked that way, "Hey, Linh. I know that the reason you're doing this because you're trying to save money on your mortgages. That's why you're doing it. And I will work as fast as I can to get this closed for you. Because then that way you can start saving money." I want to close fast on what I did that I need to get done. So that stuck with me.

    Also, there were some occasions when she gave me a heads up that, "Oh, by the way, when I was reviewing your file, this was missing. Here's what I think you should do to kind of get that address and stuff like that." So, she was very proactive. And then as far as the email inquiry, it was as if she was monitoring her email. Because during this time, I was expecting that there's a 24-hour, because everyone's refinancing, even the processor. If I want to refinance again, I would definitely use AmeriSave.

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 21, 2021

    I liked the simplicity of the breakdown and transparency. It's very noble if an organization can tell you straight upfront like, "Hey, this is the best that I can do. This is what we can do," and is willing to work with you and didn't look for me to circumvent myself. As far as whether 5%, 10%, 20%, I didn't feel pressured to put more hard cash on the line for sacrificing of a rate. And to know that the rate availabilities given this time, that they fluctuate, they were willing to say, "Hey, let's try to lock it in. This is the best number we can do. Don't sacrifice another 5, 10 grand to just get dollars to the cents." That transparency was great. The guidance and the multiple departments that worked in sync with each other. So, there was no lag time in between me filling out the documentation online.

    Every time when uploading the documents, I wish there was a repository for the person uploading the documents because the home that I ended up purchasing, they wanted everything closed in 30 days. 30 days is a very tight window, and most times, not even possible. But AmeriSave made it possible like, "Okay, we have 30 days on the calendar. We need to get this done, this done, this done." And I worked in sync with the mortgage company along with my Realtor and my attorney and we were on the move every day.

    However, with all the amount of documentation that I had to upload, there was no repository for the user as myself to see what all I uploaded. So, I know AmeriSave can see it on their end like, "Oh, yeah, you uploaded that document already. Oh yeah, you did it." And I'm like, "I can see the checkmark, but I wish there would be like another download folder. Once you've completed all the requirements for your package, I now can see all that went into the package," to better serve myself, whether it's tax information, now, I know when I go to file taxes, I'm gonna be lost. I don't know where this is, I don't know where that is. It would have all been part of the documentation that I would have sent previously to AmeriSave.

    Same thing, if I want to jump back into the home buying experience, it's like, "Okay, well, if I wanted to buy another, at least I would have a check-off list, like, okay, you provide this document, that document, this document, that document." So now, I have set a repository of everything that I submitted to AmeriSave and they also have the same on their end. Because it was time when we had to leave one section of the process and jump to another section because one home deal fell apart, and he was like, "Oh, you already provided that." I was like, "Yeah, but I don't know what I gave you." Other than that, the loan officer was great. It was my first-time home buying experience and it was like, "Hey, I want you to be comfortable with whatever you walk away with. If you're not comfortable to any point, we can discuss it."

    2 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 25, 2021

    Refinancing is a long process. So, the beginning phone calls are probably the most important because those are the time you are entering this thing and getting more detailed information. Every time I call AmeriSave, the rep there picks up the phone. They helped me all the time in the first half of the process. That's good enough for me and that's why I like AmeriSave. They also had a lower rate. After the first part of the process, their rep was no longer there always talking to me. I understand that. I'm doing a second mortgage with them as well.

    Everybody relies on an automatic system. They cut costs. But the problem is the second half of the process, I constantly receive emails from AmeriSave asking me for more information, even though I've already given them the information before. I also called and told them that I had given them in different ways. I had emailed the loan processor or I'd upload the information based on their direction but I was still receiving emails asking me for the same information. The rep said that those things were generated automatically.

    Fortunately, I kept all information backed up in my drive so every time AmeriSave asked, I could just give them my gap. But I hate to give them the same thing again and again. Also, those are confidential information and I don't want them flying on the internet all the time. So that's one thing that they need to improve. After the main loan processor finished his part, he passed it to a different assistant and the same thing happened again. AmeriSave sent me an email and I replied and told them not to send me the email again. Then the next day, the email comes again. It just pops automatically.

    On the second mortgage, an appraisal has to be done. The appraisal was supposed to be done about two weeks ago already. The reason why we cannot do it is because of the schedule we've had before with the tenant. The tenant got COVID and we didn't want the appraiser to step in the house. AmeriSave said that the appraiser didn't have to go into the house. They could just go outside, take the measurement and get the major dimensions. I found my survey plan that showed how large the property was and the floor plan from the builder. So we know what's going on inside the house. I gave those to them and I talked to the appraiser as well. The appraiser said that the information was good enough and he would see if they could generate the appraisal report and give a reasonable estimate of the house value this way. I've been actively cooperating with them and they will probably go to the property on March 15.

    In the next couple of weeks, we'd probably be able to close this loan. I asked AmeriSave if there was anything else that I needed to do or to help. But so far, nobody answered me. The whole process is already on the way but I still need confirmation from them if there's anything else that needs to be done. There's a limitation of 90 days for the lock rate and I don't want it to be expired. So now, I'm just waiting. Everybody is talking about refinancing because everybody knows the rate is low and I've told them my story with AmeriSave and recommend them.

    16 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 24, 2021

    The process is terrible. But the person who ran the process was the most helpful person I've ever worked with. I've done this before. It was the first time that I did it with one of these national things where everything literally is done through the internet. I had a woman named Jessica and of all the people who called me when I was trying to decide what I wanted to do, she kept, not nagging me, but saying, “Hey, I'm here.” And that worked out good. I finally said, “Okay, I'll see what she's got.” And I said, “I want to have the lowest interest rate possible so that my monthly payment would be as low as possible.” That means that I don't have to worry about having some excess points sitting around. Because I can always deduct that, assuming we go back to that normal tax thing.

    She had me go through this thing where I could play off the amount of money that I would have to lay in points to the interest rate. That was absolutely perfect. I could do it myself. I did not have to ask a question and wonder whether, “Oh, yeah. That's what they say the lowest rate is.” This was right on the thing. And if I didn't like it, hang up. Sorry, Jessica. That's the end.

    I got a 2%, and that's the rate that I’m paying. It's not the effective interest rate because you have to factor in the amount of points that you're leaving on the line. But I didn't care because all I want to do is go up to heaven peacefully. So I said to Jessica, “Okay, yeah. I see 2%. How do I make sure I get that?” And then she explained the process for locking in and what we would have to do. She was very good at that.

    The problem was Jessica was dealing with the screwiest information system that I've ever seen. They would ask, “Okay, this is what we need. We need it instantly if you want to save you money.” Okay, I put it in, and then the next day, I would get another thing. Ever heard of the term, the death of a thousand cuts? It's a Chinese torture. That's what AmeriSave’s information system is.

    As we got further along, in December, I got this thing that said, “Congratulations. Your mortgage is approved and we'll be moving toward closing.” “Oh, my God, that's a lot faster than Jessica said.” It turned out, for whatever reason, that was their stupid computer system. So we went through early January. And then this happened every week. There was something coming in. I had a problem with my aged computers. The computers are fine for what I want to do with them. I've got two laptops, one will run my printer/scanner combination, but only to scan something. I've got the other one that I use for most of my stuff that will print on this thing, but only print. And it will go on the internet. But the other one won't go on the internet, so I couldn't scan my mortgage bill and get it on to the internet.

    I made trips up to Staples, and that didn't bother me. It wasn't that expensive. But then, many times, I would put the stuff in and couldn't get them to recognize it. Jessica helped me more than most people that I've dealt with have helped me. I’ve got an iPhone 6s and she taught me how to take a picture of a document and send it to her, and then she loaded in a thing. And we kept getting these stupid things. I must have gotten five or six things saying, “Congratulations. You're moving to closing now,” or words to that effect. But she helped me.

    And then it got worse. When we were getting close to closing, she indicated that I would have to have the attorney come to me. Okay, because we've done that in the past. She indicated that early in the game, because I said we would go wherever the guy was. But she said, “No, he'll come to you.” As we were getting right into the closing thing, her manager indicated that she felt that I had been mistreated. I guess I'm used to that. Because a lot of the problems were with the title company. I kept getting these closing documents. And after I got tired of reading them until we got to the final, but I noticed that the amount of funds I would get back, which were in the $5,000 to $8,000 range, kept changing. I understood why they were changing, because they had overestimated the amount of money that I would owe a couple of my other companies.

    But then all of a sudden, it would cost me $600 something to have the lawyer show up. That was a surprise. I've never had to pay for an attorney to show up. I did not raise that issue with Jessica. But she was upset because the title company hadn't put that in. So there we were right at the close, and all of a sudden, there was this charge showing up for $600 something. Not a great amount.

    AmeriSave said that American Title owed me money because of the way they handled these things. And I haven't got that yet. I had to pay something that I really didn't intend to pay, or at least half of it. That pissed me off. Then they would send me a check. And Texas got all kinds of snow, freezing weather, and they were going to FedEx that check to me. It took a week or more before FedEx even picked it up. It took five days for FedEx to actually get it on the ground to Boston. And then from Boston, it took them four days, but that included a weekend to get the thing from Logan Airport up to me, 26 miles.

    But other than that, I've recommended Jessica. I was a little worried about AmeriSave. Because when you look at the Better Business Bureau report, some of those things about the people who initiated it, and then they never hear from them again. I've had that experience with a lot of people, particularly in the mortgage business. But Jessica, when she said to me, “We're still working on seeing if you can get the refund,” my reply was, “I guess, Jessica, I can always trust that you will do what you believe is right.” Jessica was super. She helped me and I had a good opinion of AmeriSave based on that one person.

    Get somebody who understands the process. Take somebody who has been through the process. There didn't seem to be the need to tell me that we were proceeding to the closing. And then a couple of days later, “Oh, and one more thing you got to supply.” Whatever AmeriSave does to get rid of that would be a real improvement.

    16 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 1, 2021

    Stay away from this company!! I would argue that they did not evaluate the "net benefit to borrower." And that this seems to be "predatory lending". It is going to take me 12 years to break even and I only saved 60 per mo. I was completely lied to!

    AmeriSave Mortgage response

    We sincerely appreciate your feedback regarding your mortgage experience. It is very important to our company and we value the information that you have provided. A member of our Customer Care Team will be reaching out to you to address your concerns. Feel free to contact us at our toll-free number: 888-700-4026 or by email at: customersatisfaction@amerisave.com.

    Be the first one to find this review helpful
    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: Nov. 24, 2021

    I began an effort to refinance through Amerisave in October of 2021. I provided everything that was asked of me initially, including the $500 non-refundable fee. Shortly thereafter, my loan officer began demanding more & more information from me, a sizeable amount of which was inapplicable to the situation. Phone calls & emails went unanswered, voicemails unreturned, yet the situation never improved. I was eventually contacted by a random agent there who actually attempted to assist me, but was unlicensed, so she couldn't really do much besides send intracompany emails to other departments.

    As soon as I believed we were actually getting somewhere, they demanded yet another random piece of useless, inappropriate, information that would require getting my employer directly involved! Crazy thing is, I didn't have this much trouble buying the house in the first place & have never missed any payments, of any type, EVER! Simply trying to make some home improvements cost me nothing but frustration, a ding to my credit, & $500. Please stay far away from this company - zero customer service & zero care for the customers involved.

    AmeriSave Mortgage response

    Thank you for providing your feedback. Our Customer Satisfaction Team would like to understand more regarding your experience as soon as possible. AmeriSave Mortgage takes our customer feedback seriously. Please contact our Customer Satisfaction Team toll-free at 888-700-4026, or by email at customersatisfaction@amerisave.com.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 21, 2021

    I have difficult taxes, investment properties, and my own W-2’s. It wasn’t clear cut that other people come in with. Everybody was saying that they couldn't work around the certain issues that I had. A lot of people were having a difficult time separating a W-2 from an LLC. I had Amerisave review my information beforehand and they came back with saying they know how to work around it because they deal with it often, and they were right. I had three other companies that were dealing with it, and Amerisave was the only one that was able to come through.

    Overall, everything was smooth. I didn't initially like Kyle, the first person I spoke with, but it was switched over to the manager and from there, it was switched over to another loan officer, Jacob, who I liked a lot. I sent everything to him and he uploaded everything. I'm always traveling, so it was easier for me to send everything over. Jacob wasn’t pushy at all and I liked the fact that he was honest and upfront.

    AmeriSave Mortgage response

    Sadia, hank you so much for this great feedback! Some situations are a bit more complex than others, but our goal is to find a solution that works for you. We are glad we were able to help you do so! We love to hear about the outstanding experiences our customers have at AmeriSave, and we are happy that Jacob and out team took such great care of you. We look forward to helping you again in the future and appreciate your business and the review!

    Bryan Owen

    Be the first one to find this review helpful
    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 18, 2021

    The application process was quick and easy. It took two weeks from the time I found a house, went under contract, and AmeriSave gave me conditional approval. Unfortunately, I couldn't get ahold the rep I worked with through email or phone. She never responded, so my agent reached out to a higher representative with AmeriSave and they assigned somebody else to my account. That person was very helpful.

    AmeriSave Mortgage response

    We sincerely appreciate your feedback regarding your mortgage experience. It is very important to our company and we value the information that you have provided. If further assistance is needed, please do not hesitate to contact our Customer Care Team at our toll-free number 888-700-4026 or by email at customersatisfaction@amerisave.com.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 17, 2021

    Janella was our first person contact and she was super friendly. She was trying to do everything she could to make our loan go through, and we appreciated the customer service. We were very comfortable with the rates and liked that our PMI dropped off of our original mortgage. Overall, everyone was very friendly and professional, and we appreciated that.

    AmeriSave Mortgage response

    Good morning Dana and 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 Gianela and 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!

    Bryan Owen

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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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