AmeriSave Mortgage
AUTHORIZED PARTNER

AmeriSave Mortgage

 4.7/5 (718 ratings)
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AmeriSave Mortgage
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Written by Jennifer Schurman
Edited by Sally Jones

About AmeriSave Mortgage

AmeriSave Mortgage Corp. (NMLS #1168) is an online, direct-to-consumer lender that offers home purchase loans in 49 states and Washington, D.C. The company also refinance options for those who want to adjust their rate or term or take out cash. AmeriSave has helped over 664,000 borrowers, funding over $115 billion in loans since it was founded in 2002.

Overall Satisfaction Rating

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  • 1 stars

Pros

  • Customized rate quotes in minutes
  • Lock in rate for 90 days and shop homes
  • Loan officers available to answer questions via chat
  • Closing in as little as 25 days

Cons

  • Not available in New York
  • No HELOCs or home equity loans

Bottom Line

AmeriSave Mortgage offers a wide range of loan programs in most states. It has competitive rates for eligible borrowers buying a home or refinancing an existing loan. You can check your rates and get pre-qualified without any effect on your credit score.

AmeriSave Mortgage Reviews

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Page 166 Reviews 4925 - 4955
Rated with 2 stars
Original review: Sept. 17, 2012

I'm a first time home buyer and I couldn't be more frustrated with this company. Paperwork is essential in the process but, I feel like they only wanted the $8.95 to run my credit report. If you do submit documents with them, and then rely on their website (or fax) to proceed, they will just keep telling you to select options that aren't available because the site does not present those options. I feel taken advantage of at a critical time in my life, but I'm thankful that they've helped me not trust online lenders. Just go to a traditional bank to discuss your mortgage, like I did, and you'll get the information and pre-qualification you need in the same day. I would gladly share information about my experience with a reporter or attorney.

AmeriSave Mortgage response

The credit run is an upfront commitment in order to proceed with the loan process. However, purchasing this necessary item does not guarantee the qualification of the loan. We truly apologize if your experience with us was less than satisfactory. Please feel free to contact us so that we can help better the situation. Thank you!

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Rated with 3 stars
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Verified Reviewer
Original review: Sept. 16, 2012

The loan process is in the underwriting stage. There are lots of supporting documents needed to be submitted. The locking interest rate was quite difficult and stressful this time around. After many of selecting the term and rate, they finally informed me that my selection was not issued and that I had to select another one in order to move forward. So during all that time, I had missed out some of the better rates.

AmeriSave Mortgage response

We have many options as far as rates go, and they do depend on the mortgage loan information that is unique to every customer applying for a loan. Rates do fluctuate with housing market as well. We hope that even with the market rate changes that we were able to secure a rate that was to your liking. Thank you for your feedback!

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Factual basis uncertain
Verified Reviewer
Original review: Sept. 13, 2012

Everything went fine until I paid $375 for an appraisal, which came back at about 50% of the true value of my home as verified by two independent appraisers. I was such a fool for not checking these bozos out before I tried to do business with them. I'm positive they are getting some sort of kickback in the deal, and I plan to report them to the authorities. Scammers, stay away!

AmeriSave Mortgage response

Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. The appraisal is the determined value of a property based on similar property sold in the market. Professionally licensed appraisers determine a property’s value. As a mortgage lending company, we are not able to predict or control the value of any property. We truly do apologize if there was any inconvenience during the appraisal process. Thank you for the feedback!

2 people found this review helpful
Rated with 1 star
Original review: Sept. 13, 2012

We applied for a refinance mortgage at the end of May 2012. It's now mid-September and we still don't have the refi mortgage, with little hope of ever seeing a closing. We informed the application processor upfront that we built a new house that currently had a mortgage and we would be moving into the house within the next few months. We were not listing our old house until after we moved and spruced up the old house.

Since our credit rating (800+) and income was excellent and we had no other debt, the processor said we simply needed to submit paperwork to confirm our financial standing. Two months later, we were informed that our application was denied because we were not currently living in the new house and our old house was not sold. These requirements were never stated to us upfront. We were told that once we moved to the new house, we could re-apply, spend another $468 for another appraisal and we'd have to resubmit all the paperwork again. It appears that AmeriSave is just a scam. Beware!

AmeriSave Mortgage response

We are a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We do apologize if the loan risk factor of not living in the new home was not disclosed in a timely manner. Please contact us at customerservice@amerisave.com if you wish to receive further explanation on the situation. Thank you for your feedback!

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Rated with 2 stars
Original review: Sept. 11, 2012

Wow, what negative stories, glad I was rejected. I spent 3 days searching the net for the best refinance rates and watching them move from up and down from day to day. I've previously sold real estate in my area for 10+ years and am familiar with the mortgage process. In addition, in the 22 years I have lived in my home (with rates constantly declining), I have refinanced 4 times. I have never had a bad experience with the various companies I've used. However on this occasion, Amerisave indicated that number one, I could not keep my home in "trust" and most likely would have to remove this title to close with the various investors used to purchase Amerisave loans. Also, I was told that my wife’s income could not be counted as she was not on the title.

In previous refinances this was not a problem. My FICO came back at 814 average of all three reporting agencies, with enough money in liquid assets to more than pay off my entire mortgage and income from investments and retirement accounts. I was told I did not have enough income to qualify without using my wife’s income. (Previous bankers put my wife on the loan app but not the title and all was well.) I was disappointed to not obtain this great "quoted rate" etc. However, after all was said and done, I decided to do some research and came across this site. Wow, I only lost $7.75 for the credit check. I feel bad for those that lost their appraisal fee, etc.

One thing I have noticed, almost 80% of the positive reviews are borrowers from California. I live in California and know that the Department of Corporations that regulates bankers is very strict in enforcement and maybe that is the reason. I also noticed this firm is not reg. in only a few of the 50 states, New York being one of them. Those State Attorney Generals in New York are some tough cookies, hmm.

AmeriSave Mortgage response

There may have been loan risk factors in regards to income that may have prevented the loan from qualification. We apologize if this was the case, and if it was not disclosed in a timely manner. Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We appreciate your feedback!

3 people found this review helpful
Factual basis uncertain
Verified Reviewer
Original review: Sept. 10, 2012

The refinancing drags on for over 3 months (800 plus credit score). I have tried to get two refis with Amerisave. We had the money to pay off the mortgage on one, which we did after they said they would not refi due to an HOA lawsuit against the contractors. The second on our primary mortgage was not to increase the loan amount, but just to lock in a 15-year rate. It has been over three months that they are stalling and asking for more and more info. We have no other debt and there is no reason to keep asking for more info. They are now asking for employment verification again because they said it has been three months since they got ours with the loan app. This company is a scam and fraudulent.

AmeriSave Mortgage response

We understand with adhering to the required lending regulations that the necessary paperwork can be a little thorough. We appreciate your patience with that process. Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We apologize if there was any inconvenience with the process. Thank you!

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Factual basis uncertain
Verified Reviewer
Original review: Sept. 5, 2012

I had trouble with the online application and the loan officer refused to help me with it. He told me to fill it out as best as I could and then we could make any edits later. I told him I could not get the online application to let me add a co-borrower and he assured me he would fix that later. Long story short, he didn't. We're out $900 for appraisals and 3 months into this refinance and they just recently asked me to sign a new application "removing" the co-borrower because it is too late to add him.

They blame me for submitting the online application without the co-borrower and take no responsibility for instructing me to do it that way and then failing to add him in. They also refused to let me pick my title company, until I told them state law gave me that right. They also asked for the same documents over and over. This has been a terrible experience. I will never use AmeriSave again for anything and I would recommend everyone to avoid them.

AmeriSave Mortgage response

Thanks for bringing this to our attention! Your application request should have been made, and we do apologize if that was not the case. Please feel free to contact us at customerservice@amerisave.com at any time to discuss the issue. Thank you for your feedback!

4 people found this review helpful
Factual basis uncertain
Original review: Sept. 2, 2012

We are completely dissatisfied how awful this process has been with Amerisave. This process has been dragging on since June 15. We completed the loan paperwork and returned it in a timely manner. But at least once a week, there have been requests for additional information from the underwriter. Some of the inquiries were so absurd, and we have never seen anything like that. We even had to submit a copy of blueprint of our remodeling that was done 4 years ago. Currently, they are asking about gas, oil, and mineral rights on our property. It's just residential home just like any suburban home!

Having been through the mortgage process several times in the past, we would have assumed that this would be a slam dunk. The house is appraised for $825,000 and we are trying to refinance for $320,000. Both my husband and I have credit scores in the 800 range. We are professionals with solid income. There are no issues on the title report. To us, it appears that this should be a very easy loan to approve. However, the underwriter appears to be deliberately stalling the process to collect additional money for cancellation. We just signed up with a law firm who is handling a class action lawsuit against Amerisave. Do not cancel your loan. This company needs to be punished.

AmeriSave Mortgage response

Thank you for bringing up this issue! We understand that because of required lending regulations that the necessary paperwork can be a little thorough. We appreciate your patience with that process. Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We apologize if there was any inconvenience with the process. Please feel free to contact us at customerservice@amerisave.com so that we can rectify the situation.

12 people found this review helpful
Factual basis uncertain
Original review: Aug. 29, 2012

Don't waste your time and money with Amerisave. They preapproved my application, my credit score is 802, my debt/income ratio is perfect. At the final process, underwriting disapproved my loan saying "income cannot be identified". I called several times to find out what they mean. However, I never got an answer. Hank told me he would get back with me. He never called back. I just ended up with a much higher appraisal cost than a usual appraisal would've cost. They charged $375 for appraisal, average appraisal in my area cost $200. Don't fall for their false advertisement!

AmeriSave Mortgage response

Thank you for your feedback! The appraisal fee is an upfront commitment in order to proceed with the loan process. However, purchasing this necessary item does not guarantee the qualification of the loan. There may have been risk factors in regards to income that prevented the loan from being qualified. We apologize if this was the case, and if it was not disclosed in a timely manner.

8 people found this review helpful
Factual basis uncertain
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Verified Reviewer
Original review: Aug. 24, 2012

I am completely and utterly dumbfounded at how awful this process has been with Amerisave. I ultimately went with another mortgage company after I nearly lost the house I was buying because of the astounding lack of communication and progress with Amerisave.

I am giving this at least one star for two reasons. For one, I don't think there's an option for "no" stars. Secondly, I do want to recognize that as a self-employed, no employee, business owner that has three small LLCs, my financial picture does not fit the norm on the application. I make plenty of money and have plenty of assets but I earn my money as a sole-proprietor, simply taking the profits from the businesses - not through a standard paycheck. It is possible (emphasize possible) that Amerisave's system can write a standard mortgage for a person with a standard financial picture buying a standard house. I don't know.

But the truth is, if you want to actually close on your house, I wouldn't trust these guys, particularly if there's anything unusual about the purchase. And ultimately, I neglected to honor the adage "you get what you pay for" as I was chasing the low rate and closing costs Amerisave put out there (indeed, they were low), but the hassle, risk of losing the property, and general aggravation weren't worth the 0.25% better rate that Amerisave was offering.

Basically, I started a mortgage with Amerisave on July 9th. Due to my financial picture, they requested document after document - over 100 in all. And I'm not making that up. They had me set up with an account rep that seemed to know less about the mortgage process than I did and certainly knew less about general personal business structures than I did. And whether it was him or the underwriter (who I was not allowed to talk to) being vague, I got request after request for documents that made no sense. For example, I was asked to provide 30 days of transactions on a bank statement for an account that had only been open for 10 days. Amerisave's solution was to wait another 20 days and then submit that documentation. At one point, they asked me for a cash flow statement for my business. I asked them what format they would like to see that in and in what level of detail and my account rep said, "I don't know, I was hoping you'd know. Maybe you could google it?"

As we had blown past the lifting-of-loan-contingency deadline, and the sellers were getting antsy, I asked for my application to be escalated to management. All my account rep did was copy someone else and that someone else never entered the conversation. I emailed customer service but they simply sent me back to my maddening account rep.

Bottom line is, I realized about 25 days into this that I was at serious risk of not ever getting to loan approval from Amerisave and definitely not getting it before the sellers of the house were going to give up on me. So, I walked down to my local mortgage broker and asked him to please help me write the loan. He did so in 11 days with about 12 documents requested and yes, it cost me about 0.25% and $600 more to do it but I got the house. For what it is worth, I did continue the process with Amerisave just to see where it would go and they eventually did - 38 days after I applied - approve my loan. By that point, I had moved on. I suggest you do too.

AmeriSave Mortgage response

Thank you for letting us know! We understand that because of required lending regulations, the necessary paperwork can be a little thorough. We appreciate your patience with that process. We do apologize for any inconvenience during the process as we did give our best efforts to help approve the loan. Thank you for the feedback!

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 22, 2012

My experience with Amerisave was a total nightmare that ended with a bitter and costly disappointment. My finances are absolutely solid. My credit score is well above 800. The property appraisal met their requirements and I provided about 200 pages of documents (requiring about 50-60 hours of effort on my part), and my loan was denied after three aggravating months without any plausible explanation. The denial form included a checklist of 32 possible reasons for denial. Those items deal with finances, credit history, the property value, employment, and your application details. None of them was checked, but an item with a check mark was added to the bottom that reads "We do not grant credit to any applicant on the terms and conditions you have requested." How is that for ambiguity? I applied for a loan based on the terms and conditions they offer, not some arbitrary terms and conditions I contrived. I have sent letters to my Amerisave underwriter and customer service, asking for an explanation, and no one has sent any reply. They also have not replied to my request for details which are required by the federal Equal Credit Opportunity Act as outlined by the Federal Trade Commission.

Something you should know if you apply for a loan here is you are required to pay for an appraisal and credit check upfront, which will cost $400-$600 depending on the appraiser. You also must agree to pay a $500 penalty if you withdraw the application at any time, which will be charged to the same credit card as the appraisal fee. If you don't agree, they will not accept the application. A friend who is a mortgage underwriter in a different state told me the type of information Amerisave was asking me to provide was absurd and inconsistent with normal business practice. She said it sounded as if Amerisave was trying to get me to withdraw the application so they could collect another 500 bucks for doing nothing. Bottom line is do not even think about doing business with this company. It is dishonest, unscrupulous, and unethical at best. I wouldn't be shocked to learn that's also corrupt.

AmeriSave Mortgage response

Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We apologize if there were any inconveniences with your process. The credit run and appraisal fees are upfront commitments in order to proceed with the loan process. However, purchasing these necessary items does not guarantee the qualification of the loan. There may have been risk factors in the conditions of the loan which prevented the approval. We apologize if the reasons were not disclosed in a timely manner. Thank you for your feedback!

22 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Aug. 20, 2012

After 2 months of trying to get my mortgage closed, they changed the processor last minute. Full week of catching up the new processor, only to have them go silent again. I lost the house and deposit because of Amerisave. Don't do business with them. The next house I put under contract, I used a local mortgage broker and we were closing in 30 days. Bad business. Inexperienced employees equal headaches for borrowers.

AmeriSave Mortgage response

Thank you for letting us know about this issue! We understand the inconvenience with the issue. There should have been a consistent point of contact for you throughout the process, and we sincerely apologize if this made your experience with us seem less than satisfactory. Thanks for the feedback!

6 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: Aug. 17, 2012

We used Amerisave to purchase our home a year ago, and then again to refinance when rates dropped to ridiculously low levels. I had great experience twice with Amerisave. They're responsive. They also have best rates and excellent customer service. I loved being able to track our loan status online. We'll continue to use for future mortgage needs.

AmeriSave Mortgage response

Thank you! We truly appreciate your business!

7 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Aug. 15, 2012

Closing process - I completed the application and the rate was locked on 6/6. I closed on 8/13. Originally, I was told they could close in 30-45 days. The delay was blamed on volume of work. Very inexperienced people. They are slow to respond via email or return phone calls. I have been in banking for 35 years and basically, the people I dealt with did not know what they were doing outside of following a scripted manual, down to their scripted responses. I would not recommend them and encourage others to avoid them at all costs.

AmeriSave Mortgage response

Thanks for letting us know! There should have been an available, and consistent point of contact for you throughout the process. We apologize if this was not the case. We do value your business and we hope that we were still able to show you that. Thank you!

7 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: Aug. 15, 2012

The best experience and help I have ever received when trying to get a loan was and is from Amerisave. My sister recommended them to me and I have been completely taken care of. They have helped me through each step. The interest rates are the best and they make it easy for you. It can be a hard process to do this, but they make it easy. They are very friendly and I would recommend them to everyone who needs to get a loan or refinance.

AmeriSave Mortgage response

We truly appreciate your compliments! Thanks!

4 people found this review helpful
Rated with 1 star
Original review: Aug. 15, 2012

Amerisave is unethical, fraudulent in its business practices and the regulatory bodies should get involved and shut them down. After I have applied for mortgage refinance with excellent credit and plenty of income, they demanded such excessive documentation, and stalled the process for over a month stating that the loan is waiting to be assigned to an underwriter. In the interim, they charged an appraisal fee $395 that turned out to be completely unnecessary piece of paper, since the underwriter declined the loan after almost 40 days wait. The email decline didn't say why, and it took multiple calls to find out it was because of time at the job being less than six months. They knew about the time on the job since the moment I applied, and it was unnecessary to order an appraisal or request such extensive documentation.

It should be illegal for mortgage companies to charge appraisals without issuing a commitment letter. I believe this practice is abusive and this company needs to be stopped from scamming people. One employee on the phone even said that they are just doing what is in the best interest of the company with the goal of making money. Additionally, their customer service is terrible. I feel abused and disrespected. On four different occasions, I have requested an escalation. Employees would promise that I will receive a call by a member of the management, which never happened. Worst experience ever. Huge waste of time and money. I feel violated as a person and as a human being. Amerisave is a huge internet scam.

AmeriSave Mortgage response

Thanks for your feedback! We understand that because of required lending regulations, the necessary paperwork can be a little thorough. We appreciate your patience with that process. Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. The appraisal fee is an upfront commitment in order to proceed with the loan process. However, purchasing this necessary item does not guarantee the qualification of the loan. There may have been risk factors in the conditions of the loan that prevented approval or qualification. We apologize if this was the case, and if it was not disclosed in a timely manner. We also apologize if your customer service experience was less than satisfactory. We truly do value your business! Thank you for commenting!

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 8, 2012

The last complaint entry dated August 2 is exactly my experience with Amerisave. I made application for two refinances for my primary home and a vacation home. Three months had passed and there was a continuous request for more data despite submitting tax returns, tax bills, retirement account statements, 1099s and signing disclosure forms. The total monthly mortgage for the two loans was less than $3000/month and my income is in excess of $20,000/month with a credit rating of 805. I had paid for two appraisals which were completed. After multiple complaints to different employees of that company, I threatened legal counsel and involving the state and federal agencies whose responsibility is to investigate the company. The following day, today, I received an email denying the loan under the pretense that it exceeded my financial obligations. I have no obligations other than these loans, This company is fraudulent and needs to be investigated and sued.

AmeriSave Mortgage response

Thank you for your comments! We are a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We understand that because of required lending regulations, the necessary paperwork can be a little thorough. We appreciate your patience with that process. There may have been financial risk factors that prevented the approval of the loan. We do apologize for any inconvenience throughout the loan process.

9 people found this review helpful
Rated with 1 star
Original review: Aug. 2, 2012

I applied to refinance my home in early May. I have very good credit, plenty of equity and provided a large library of supporting documents promptly. I paid for their appraisal and waited almost three months for them to turn me down yesterday. Their stall tactics include asking for more documents every time you inquire about the loan. I'm now starting over and expect to shave about 1.75% off my mortgage that should have been done two months ago. Don't waste your time with these clowns! Huge waste of time and money!

AmeriSave Mortgage response

We understand that because of required lending regulations, the necessary paperwork can be a little thorough. We appreciate your patience with that process. There may have been information found during the underwriting process that needed to be examined more thoroughly to help qualify the loan. We apologize for any inconvenience this may have caused in regards to the time to approve the loan. Thank you again for your feedback!

6 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 28, 2012

Our experience with Amerisave is a disaster. Here, I'm warning anyone who is trying to buy a foreclosed or short sale property, stay away from Amerisave. We have waited for over 5 months for a short sale deal. Amerisave lured my husband with good interest rate, discounted closing cost, etc. At that time, I just felt there was no free meal in this world. Their offer sounded to be too good, but my husband insisted to do business with them. He believed it's our excellent credit score that earned us that good deal. The short sale is sold "as is" which is typical to most short sales. We can put 20% down payment. Also, we paid off our current residence.

The appraisal price is about $27k higher than the purchase price. Everything looked good. The only issue was it's a short sale. If I can't close the sale in 30 days, the bank will foreclose this property. That will be another 6-8 months process. Amerisave kept telling us everything looks good. We provided all documents they requested, even answered questions related to my tax return like why I claimed a certain deduction in one year and didn't claim similar deduction in another year. They weren't able to find anything wrong with us. Then two days before the deadline of the short sale, they asked for our inspection report.

We provided the report to them. It's a short sale property, condition isn't as good as a normal sale, but the appraisal price already included those negative adjustments. It's well below the average recent sale price; however, one day before the deadline, Amerisave asked us to have the seller make all major repairs listed on the inspectors report, which we know there is no way for the seller to do it. It is sold "as is" condition, and it's written in the contract. Amerisave knows that. I'd rather they rejected our loan from the beginning, that way we don't waste our time and money (appraisal, inspection, etc.). Now, the 5-month waiting period is wasted due to our own mistake to choose Amerisave.

AmeriSave Mortgage response

Thank you for letting us know about this situation! The company does not normally approve loans for short sales or foreclosures. This should have been disclosed early on before committing to the loan process. We apologize for any inconvenience this may have caused in regards to the loan. Please feel free to contact us at customerservice@amerisave.com to further discuss this issue.

7 people found this review helpful
Rated with 1 star
Original review: July 26, 2012

Beware: I was lured into applying with them, although I had 3 other lenders competing for my business, due to their lower advertised rate. I filled out a long application form and paid to have my credit score sent to them, as required by them. My credit score is above 750. I sent every single document they requested. I never heard back from them. The representative assigned to me is called Aaron **. I called him and in a very nonchalant manner, he said he'd never received my documents, which I am positive he must have.

I agreed to send them again and asked him to confirm within an hour whether he had. I never heard from him. At this point, I am very worried because he has in his possession loads of personal identifying information. I called Amerisave and they put me through to people that wouldn't pick up the phone. I finally get Mr. ** supervisor's number. But he doesn't pick up and never returns my message. I contacted Amerisave at the email address for customer's inquires and they never get back to me.

The bottom line is that I want to emphasize that I had 3 lenders that were very interested in my business. I already closed with my preferred lender. Why would I pay Amerisave for them to access my credit score and never hear back from them? The representative I mentioned above claims he did not receive my documents, even though I have never had a problem with anybody with my email account. They are awful at best and I am extremely concerned about identity theft.

AmeriSave Mortgage response

Thank you for bringing up this issue! There definitely should have been an available, and consistent point of contact for you throughout the process. We apologize if this was not the case. All information submitted will in no way be shared at all. It is confidential and solely for the use of the loan process. We do value your business, and we apologize for the misrepresentation of that truth. Please feel free to contact us at customerservice@amerisave.com to further discuss this issue.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 25, 2012

AmeriSave Terrible Rip-Off Company - I wanted to refinance. I was a sucker for their web marketing. As soon as I paid the $400 or the appraisal, the attitude changed. I provided all the documentation (my last lender said my package was the most complete they had ever seen). They told me I had an "incomplete credit report" and then charged me $500 for terminating my lock. There was never any explanation, just a charge to the card. Do not give them your credit card info. Whereas the salesperson was polite, etc. I am getting nowhere for 6 weeks in resolving this with them. Avoid this company at all cost.

AmeriSave Mortgage response

Thanks for your feedback! We apologize for any confusion or issues with processing the loan. With all information submitted, there still may have been an issue with the credit report that was preventing the approval of the loan. During the underwriting process we give our best efforts to help bring to completion all documents necessary for the loan. We do charge a cancellation fee after locking in a rate. We apologize if this particular fee was not expected.

4 people found this review helpful
Rated with 2 stars
Original review: July 24, 2012

They killed the loan process almost as soon as it started. I paid these guys $9 to run my credit for a new home loan. I have a monthly subscription to two of the three credit reporting services so I know exactly what my scores are. When the report came back from them and did not reflect my correct score numbers, I tried to contact their local representative, who only responded with an email saying I was rejected. They don't seem to be interested in helping get to the bottom of why incorrect information is being received. Nice website, but very poor customer experience. I've since found a great local mortgage company that could actually pull up credit reports correctly. Now if I could only get my $9 back.

AmeriSave Mortgage response

Thank you for your comments! The credit run is an upfront commitment in order to proceed with the loan process. However, purchasing this necessary item does not guarantee the qualification of the loan. We apologize if there was any confusion with that part of the loan process. Thank you!

4 people found this review helpful
Rated with 1 star
Original review: July 19, 2012

Rip-Off - They said I would get 3.25%. Two months later, they tried changing the rate and blaming their investors. Everyone I talked with told me not to trust these people. I wish I’d listened. Stay away!

AmeriSave Mortgage response

Thanks for the feedback! After locking in the rate, the rate is subject to change if the amount of time extended for your rate lock has expired. In this case, if the lock was set for two months, after that amount of time the lock would have expired. We apologize if that was not what was expected. Please feel free to contact us at customerservice@amerisave.com if you would like further explanation on the issue. Thank you!

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Rated with 4 stars
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Verified Reviewer
Original review: July 12, 2012

Good online experience. The online aspects of my refinance has been very positive. The personal responses to my questions have been very quick, but not always very complete. I've frequently had to ask my questions multiple times to get a full answer to the question.

AmeriSave Mortgage response

Thank you! Your business is appreciated!

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Rated with 1 star
Original review: July 11, 2012

The Amerisave loan officer we were dealing with has seriously lack of knowledge for the mortgage loan business, not well trained at all. We ended up with wasting a lot of time and energy, which could have been saved if we went somewhere else.

AmeriSave Mortgage response

Thank you for your feedback! All of our representatives are prepared and fully committed to providing the best servicing for your loan. We do truly value your business!

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Rated with 4 stars
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Verified Reviewer
Original review: July 8, 2012

I was looking to finance my home and tried a lender that advertises heavily on the local radio stations in Tennessee (the lender is in Cleveland, TN). I was very disappointed in their customer service, or should I say the complete lack of it. A friend had used Amerisave and they have been very helpful. Colin has communicated very well and although I have not closed yet, the process has been very smooth. I would highly recommend Amerisave.

AmeriSave Mortgage response

We truly appreciate your feedback! Thank you!

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Rated with 5 stars
Original review: July 8, 2012

The people at Amerisave were the most courteous and reasonable of all the mortgage loan companies that I had experience with while trying to refinance my home. I spoke with a minimum of 7 different companies to include one that supposedly dealt greatly with the military. I found Amerisave fees were reasonable. I found that they were swift in downloading and confirming information. They also offered the best rates of any other company that I had contacted. If there was any negative, I do not feel that they had the most updated information on the government programs available, especially the ones that were initiated recently (2012). However, I would still highly recommend that you check them out first and compare with any other offers that you might have.

AmeriSave Mortgage response

Thank you so much! We will continue to update the information on those programs.

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Rated with 5 stars
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Verified Reviewer
Original review: July 7, 2012

I've refinanced several times (7, I think). My last three have been through AmeriSave and they have been the fastest and most transparent transactions that I've experienced by far. I am an actuary by trade and can determine loan terms in my sleep. Every other company I've refinanced with (or even talked to) has tried to sell me some line in an attempt to make a few extra bucks. AmeriSave has been very honest and candid about every aspect of the loan process. They are the first company I will call for a loan or refinance and they are the only company who has earned and kept my trust. In the interest of full disclosure, I will receive $15 off my closing costs for posting this review to two review sites. I have refinanced with AmeriSave twice before (this is my third time) and have never posted before because, let's face it, $15 isn't much of an incentive. I'm doing it now because they've earned it.

AmeriSave Mortgage response

Wow, we truly appreciate your compliments! Thank you for your trust in us!

3 people found this review helpful
Rated with 1 star
Original review: July 2, 2012

They say all the right things to lure you in, but they then become unreachable and outright scary. I started the process of refinancing my mortgage with AmeriSave in an effort to take advantage of lower rates to shorten the duration of my mortgage. Everything seemed to be going well until the point where I was told that I needed to pay off some credit card debt in order to make the loan go through. And that was all okay. Some of the pay-off money was coming through a cash-out on the mortgage and some of it from my own pocket. But when I started to read the paperwork they sent me (the form 1003) which indicates which debt would be paid off, the numbers just didn't add up and there was a discrepancy of approximately $10,000 to my disadvantage.

What made everything scary was that when I tried contacting my loan officers by phone and e-mail, he would respond with an e-mail which read "read form 1003" and that was it! So my concerns were simply brushed off with the brief statement "read form 1003". This went on 3 or 4 times until I finally contacted customer service at which point my loan officer did call me over the phone only to tell me again "read form 1003", without answering any of the specific questions or concerns that I had. I have since closed my file with them, but this scam cost me $450 appraisal which I hope to be able to re-use in the future, and a couple of hits on my credit check, not to mention the fact that I also handed them all my confidential information. This was probably the most insane experience that I have ever had. Buyers beware, please avoid these guys. A mortgage is a serious thing!

AmeriSave Mortgage response

Thank you for letting us know! All information submitted will in no way be shared at all. It is confidential and solely for the use of the loan process. The appraisal fee is an upfront commitment in order to proceed with the loan process. However, purchasing this necessary item does not guarantee the qualification of the loan. We do apologize for the misrepresentation of our customer service. There should have been an available, and consistent point of contact for you throughout the process and we apologize if this was not the case. Thanks you again for your feedback!

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Rated with 1 star
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Verified Reviewer
Original review: July 1, 2012

I tried to give them the benefit of the doubt but they screwed me over. It's a clever and well thought out and run scam, but trust me - it's a scam. Once you get to the point of sending the documents, all you will ever get is "We never received them." I emailed them and faxed them many times. All I ever get are computer-generated emails. Scam.

AmeriSave Mortgage response

Amerisave is a professional mortgage lending company that places high value on customer service, and providing loan services to all applicants in a lawful and professional manner. We will be glad to help correct any issues that may have occurred. Please feel free to contact us at customerservice@amerisave.com at any time. Thank you!

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
Website:
www.amerisave.com