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AmeriSave Mortgage

AmeriSave Mortgage
Call Now Toll Free
(866) 815-0655
Overall Satisfaction Rating 4.28/5
  • 5 stars
    212
  • 4 stars
    22
  • 3 stars
    5
  • 2 stars
    8
  • 1 stars
    50
Based on 297 ratings submitted in the last year

AmeriSave Mortgage is an online, direct-to-consumer mortgage lender that has funded over $52 billion to homeowners. AmeriSave uses advanced technology to connect customers to low rates and a variety of loan types to find their best solution.

AmeriSave Mortgage Corporation Gallery (4)

BOTTOM LINE

AmeriSave is an online mortgage lender that offers customers a wide range of quotes. AmeriSave has affordable and fair rates for customers with eligible credit scores and the ability to pay at least 3% down.

PROS

  • No application fees
  • Variety of options
  • No origination fees
  • In-person closing

CONS

  • No home equity loans
  • Need 620 credit score or higher

Top AmeriSave Mortgage Reviews We Found

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Rated with 5 stars
Verified Reviewer

AmeriSave Mortgage has offered very competitive rates. They are efficient and their agent was very upfront on the costs and benefits of each option of our home refinance. The total transaction was completed in 16 days … We highly recommend this company.

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Rated with 5 stars
Verified Reviewer Verified Buyer

[My agent] only wanted to provide his service if he knew it was best for me and my family. The whole process to close was less than two weeks. My family and I was able to consolidate a personal loan and roll that into our existing mortgage. The whole process was excellent.

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AmeriSave Mortgage Call Now Toll Free (866) 815-0655
AmeriSave Mortgage
Call Now Toll Free
(866) 815-0655

What is AmeriSave Mortgage?

AmeriSave is an online mortgage lender that provides direct loans to potential homebuyers. The company lets you view rates anonymously by inputting your home information without any personal identification, and it does not send you any material unless you choose to work with it. AmeriSave offers the following types of mortgages:

  • Conventional
  • Jumbo
  • FHA
  • VA
  • USDA
  • Cash-out refinancing
  • Adjustable-rate

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 unique information like your Social Security number.
  2. Get prequalified. Customers can prequalify for a loan in just three 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 to you.

AmeriSave Mortgage rates

AmeriSave’s rates vary based on your credit history and the amount you’re requesting. Make sure you compare mortgage rates from several lenders before choosing one.

AmeriSave doesn’t charge loan origination fees or application fees. The company has a minimum credit score requirement of 620.

AmeriSave FAQ

How do I pay my AmeriSave mortgage online?
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.
How does credit affect my mortgage rate?
The lower your credit score, the higher your mortgage rate will be, and rates make a significant difference in your overall cost. For example, the difference between a 3.5% and a 4% mortgage rate on a $200,000 mortgage is $56 per month.
When can I refinance with AmeriSave?
To obtain rate and term refinancing, you must be on the title of the home for at least one day. For cash-out refinance, you must be on the title of the home for at least six months.

Is AmeriSave legit?

The wide variety of loan types and loan rates makes AmeriSave a great option for customers looking for flexibility and transparency. The company requires a 620 credit score and a 3% down payment requirement and may not work for every homebuyer, but its $0 origination and lack of application fees make it a more affordable option. Because AmeriSave doesn’t use a hard credit pull or personal information for prequalification, it's a strong choice for those who want to see the company’s options.

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?
  • 2,384,797 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 - 10
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: July 29, 2020

I was looking at something on Facebook and saw that AmeriSave’s rates were good. I wound up speaking to a few people. I didn't know if it was quite what I wanted but after speaking with the rep from AmeriSave, I decided that it was what I wanted to do. He was very informative and helped me. We went with a 15-year program and so, we knocked years off our mortgage. We made a couple of changes and bought some points. We paid $4,000 to save $14,000 in monthly payments alone, so it saved us quite a bit of money. The process of getting the mortgage was great and I was happy with all aspects. The initial rep was fantastic. I also refinanced a rental property at the same time so that was a little bit of double processing but that was why I did it. The online application was excellent and I didn't have any problems with it at all. It was easy to do.

The application and underwriting process for the rental building process took a little bit longer because I was taking money out on it and so, it had to be appraised. My house didn’t have to be appraised because I was doing half of its value, so it was very quick. There were so many people doing it so there was a backlog in getting people assigned to underwriting. But besides that, everything went smoothly and I was 100% percent happy with everything. The customer service rep was phenomenal. He’s the person that I've recommended to all my friends. I've given them his number and told them to use him. He answered every question. He was really and truly the reason that I continued on. I was also thrilled with the rates and terms.

2 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 26, 2020

    I was researching some mortgage companies online and Amerisave had a good rating so I applied. It was a refinance of another property that we had and I was a little disappointed in how long it took. It was because it was a refinance on top of a property that had been my father's property and it had been in a reverse mortgage. The reverse mortgage kinda delayed things a little bit because it had gone into foreclosure, which had nothing to do with me, but it came up during the process. It did take longer than I thought it would take and it was a little more complicated than what I expected.

    We'd already bought the property and I thought it was gonna be a simple refinance. I had to put more and more and more stuff in. They could have let us know this could be a little bit more complicated than we thought. Another thing is that it was a second home. Although we stay here most of the time in the summer, that it was a second home could have affected the outcome a little bit and we didn't know that at first. We didn't understand that process.

    Overall, it was a good experience. We were able to successfully close on the property. I was really impressed with Jerry. He was my loan originator and I really liked him. I could call him even after we kinda moved past his scope of practice and he was willing to talk to me. The loan processor was good too. She would answer my calls or she'd return my calls promptly. She was trying to keep me updated as best that she knew. I didn't understand what they were going through but she had dealt with reverse mortgages in the past so she understood that was a little more complicated. Both of them kept me informed.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 26, 2020

    I was looking for someone with the best possible interest rate and I did a Google search. I found AmeriSave and the rep, Chris, was awesome. I had another option with the same variables involved but I liked him. He stayed on the phone with me at 11 o'clock at night trying to walk me through the website application. Any time I called, answered or if he didn't, I would leave a message or text him. He would call me back within the hour. He was patient too. Overall, it was a good process.

    Instead of calling Chris all the time, I would just log into the AmeriSave portal and it would tell me if there was anything I needed to do. So, every morning I would wake up and check it, and see if there were any documents I needed. Then before I went to bed, I checked it to see if there was anything outstanding that I needed to get, all the stuff that I had to do and if I needed to sign something. So, once I got the hang of it, after talking to Chris and bugging him, it got to the point where I didn't need to talk to him as much. It went super-fast. Everywhere else I called said that it was gonna be six months and so, I called Chris. He seemed to keep it moving. There was another lady involved that processed the loan and they were eager to get it going. So, we did it in 30 days. It was great and I’m very happy with the terms of the loan.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: July 22, 2020

    I was looking for a lower rate or payment during refinancing. One of my colleagues went with AmeriSave and he had a good experience. I got everything I needed. Frank, the field guy, was very responsive. I had two underwriters. The first underwriter seemed to be good at first. But I called every week and didn't get any information and updates in rates. He was leaving a voicemail and so that one was a bit stressful. He should have the ability to push the loan. Then fell off because he was no longer with the company. It caused a little stress. But at the end of the day, I got ahold of Frank's boss and he was able to assign a new underwriter. At that point, everything was closed up in a week.

    I noticed that the mortgage rates have gone down so I tried to get a concession 'cause my understanding was the purpose of a floater is I get the better of the rates. But it didn't seem like that was an option for me. It was more along the lines that the rate I agreed on would be the one they're gonna close at and that's the deal. I think they didn't wanna go through the work. Regardless, it was an all right rate. When you get a 3.25 rate and you got it below 3% right now, that is some money to consider. But I was well over 60 days to refi.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 12, 2020

    My husband and I were researching companies to lower our mortgage and had submitted our information to an on-line site that obtains multiple company offers. We received 4 offers. I checked the BBB, on-line reviews, etc. for each. Only Amerisave had a AAA rating with the BBB and had excellent reviews on various sites. Roger ** was our first contact and he was fantastic. Highly knowledgeable, personable, low-key, excellent at explaining financial nuances and patient with me. I brought questions from other lenders to compare, and he was able to explain the pros and cons without being condescending about the other lender. He was the primary reason we went with Amerisave. Another company gave us the same rate with a tiny bit better cash benefit up front, but I went with Amerisave because Roger was so good.

    Flo ** was our processor and she was equally as business-like and efficient. She was professional and quick with responses to any questions. Clinton ** was the Notary sent to our home. He called to confirm our appointment, was on-time, pleasant and thorough. He had been working in our area doing notary work for 25 years, and was just a kick during the 90 minute process. I don't know how he had all 100+ pages memorized, but he did! I couldn't be happier with our overall experience in re-financing our home. If our future encounters with Amerisave are as positive, we will be very pleased.

    My only suggestion for improvement would be a confirmation of completion of the process for the client, so we know when the entire process is complete. A simple email or letter stating, "Congratulations on completion of your loan/re-finance with Amerisave. We look forward to your continued patronage and servicing you needs". Just a thought. Thanks again!

    2 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: Aug. 10, 2020

    I started an application for refinance. I was greeted with stellar customer service by rep. Peyton **. He presented with many promises upfront, including working around specific procedures to get this application moving as quickly as possible (specifically, getting an appraisal waiver, but still charging me for this with total fees and expenses) giving the impression this will be the case throughout. Promises of specific exclusive rates, fees and waivers of fees including a refund of a $500.00 deposit. Informed that there was not way to proceed without a $500 deposit. I was told that this was non-refundable, but also informed that this will be refunded at the end of the transaction. I was also told that this was to replace the appraisal waiver (which is contradictory as it was waived).

    After paying the deposit, this representative disappeared as if he never existed on earth. No response to phone calls or voicemails. This continued to be the theme with other representatives I was able to reach either getting hung up on, or transferred and dropping the call. My initial gut was this seemed to be a scam of some sort to sweet talk into paying for the deposit, but never fulfilling their promise or services and being unreachable nor have reached out whatsoever once receiving the deposit. I have attempted to cancel my loan application and get refunded but was unsuccessful as I am getting the run around and speaking with staff who present as oblivious to any situation and no effort to assist whatsoever aside from offering to transfer the call (to no one as it is then dropped).

    After this, I researched reviews regarding Amerisave and came to find that this was not new practices and there are a plethora of complaints akin to mine. This of course, reinforced the notion of unethical practices by this corporation including a lawsuit in 2014 which cites the specific concerns I have noted above and was deemed then as “illegal practices.” I then spoke with Quicken Loans to get a comparison and was told by the loan officer that he was “shocked” at the low rates Amerisave was offering. This again reinforced the notion of the classic bait and switch scheme which this company seems to adopt. They quoted me with a great interest rate at 2.5% but was told this could not be “locked.”

    With added concerns from research indicating past bate and switch operations in this nature by Amerisave, having Quicken Loans representative report he was shocked of how low this rate is and it was not normal, and with the rate not being locked and getting no response, the only logical thought is this will turn into a bait and switch down the line. Since receiving my deposit of $500, there has been a lot of inaction and unresponsiveness from Amerisave staff altogether. With a reputation of getting customers to invest with fees upfront, they use this leverage to change the price and quotes when it becomes time to sign.

    After speaking with a couple of different companies about interest rates, I received the same response “that rate seems too good to be true.” In attempting to speak with a representative from Amerisave to clear this up, I have not been able to reach anyone, and when I contact customer service line, I am transferred to no one and the call ends. This occurred 4 times. I also left several messages and emails for other loan officers through Amerisave with no luck. Lastly, the explanation of new costs by representative Peyton ** was poor as he could not explain how my payments were lowered by $170 monthly, but the reduced interest cost added up to $100.

    2 people found this review helpful
    Customer increased Rating by 3 stars!
    Verified Reviewer
    Original review: Aug. 10, 2020

    I noticed the poster right below this had nearly the same exact experience as I did! I am working with Kenny M, but he is incredibly hard to reach. When I first called to ask some questions about my refinancing options, I mentioned that I wanted to talk to my significant other first about the numbers, and he told me that he can't promise he'll be able to get back to me if I couldn't make a decision right then and there. Felt very high pressure and awkward..

    After going over the numbers, I was promised there would be no cash for me to bring to closing, all the closing costs would be rolled into the loan. I was thrilled and then decided to move forward with the $500 application. I sent all the requested documents, and he told me I was all set and the loan processor would reach out in a couple weeks to finalize everything and set up a closing. Well I noticed today that I was just sent new disclosures with a $2,494 difference in the closing costs I agreed to! $1,881 of that to be paid at the closing, not rolled in! I can't get ahold of Kenny of course, and now I'm out $500 if he doesn't get back to me and fix it. What they don't realize is that I have a pretty decent following on YT and make videos about saving money/becoming debt free, so will definitely be warning people about this company and their tactics.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 10, 2020

    I called AmeriSave to inquire about refinancing my loan. I got Peter out of Arizona on the phone. We talked for a while and in the middle of our conversation he hung up on me. Very rude first of all, 2nd I got a letter in the mail from Amerisave about 3 weeks later that they did a soft credit pull even that I never gave them my SS number! That is so illegal! Will never do business with this company!

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 8, 2020

    From the very beginning in dealing with Andrew he had a smug attitude toward both myself and my wife. His tone with us was one of impatience and talking down to us as if we were incapable of understanding. I mentioned this to him twice while initially working with him, hoping it may change his approach. He was not transparent and was not honest with us from the beginning. We were looking to lock our loan in at a certain rate (we both have excellent credit) and he said he would after we sent in a bunch of paperwork and giving them $500. We were hesitant but moved forward. After we sent everything in, he told me he locked the loan in as discussed for 30 days.

    When I logged into our AmeriSave account I found that the loan had to be closed within 23 days or the deal was no good. He said they could extend the rate and we proceeded to inform him that we would not pay to extend the rate at that point. As the process moved forward there were all of these documents they kept needing. Each few days it was something new. The nail in the coffin with this company and Andrew was when they decided to change the documents and increase our closing costs by over $2000. I would not recommend doing business with Andrew ** or AmeriSave. They have been completely dishonest and were not transparent from the beginning. Communication has been poor throughout the process and trying to get a hold of any kind of customer service has proven impossible. Do not walk, run away.

    AmeriSave Mortgage response
    Jason,
    AmeriSave Mortgage appreciates your feedback on your mortgage loan.
    Your mortgage experience is very important to our company, and we value the information you provided. We have requested that your Loan Originator's Sales Manager contact you regarding your questions.
    If you need assistance in the future, please do not hesitate to contact our Satisfaction Team at our toll-free number 888-700-4026, or by email at customersatisfaction@amerisave.com.

    Thank you again for allowing AmeriSave Mortgage to serve you with your mortgage needs.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Aug. 8, 2020

    We recently refinanced our home and had a great experience with Cameron **. He was very personable and helpful and we had a great experience with him! All of that changed when we started to deal with Marie **. Not only did she call my phone late at night 7:00 pm central time, she was extremely condescending. It got to the point where she would call my phone and I would hand it to my husband because I was tired of the way I was being talked to. Once we signed the papers, we needed to wire funds to finalize the loan but we were still waiting on the wiring instructions.

    Also, the wiring was delayed because had to wait to get an appointment with our bank since they weren’t allowing anyone in that didn’t have an appointment. During all of this, my grandfather died and while we were at his funeral (which I told Marie I would be attending) Marie had the audacity to call my husband and threaten to cancel the loan if we didn’t go to the bank that afternoon. I have NEVER dealt with someone as rude as Marie.

    AmeriSave Mortgage response

    Lindsey,

    AmeriSave Mortgage regrets that your communication and experience was not positive.

    Your mortgage experience is very important to our company, and we value the information you provided so that we can share with our Operations Team.

    If you need assistance in the future, please do not hesitate to contact our Satisfaction Team at our toll-free number 888-700-4026, or by email at customersatisfaction@amerisave.com.

    Thank you again for allowing AmeriSave Mortgage to serve you with your mortgage needs.

    2 people found this review helpful
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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
    Phone:
    866-815-0655
    Website:
    www.amerisave.com