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AmeriSave Mortgage

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1,203 User Reviews

9.9

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LAST UPDATED: October 25th, 2021

AmeriSave Mortgage is an online, direct mortgage lender and has funded over $84 billion in home loans and has been trusted with over 325,000 homes. The company offers a variety of loan types for home purchase, as well as options for mortgage refinancing if you are looking to lower your monthly payment. 

AmeriSave reviews are overwhelmingly positive with 87 percent of customers awarding the company 4 or 5 stars. Some customers complain about application delays and inaccuracies, but the majority of customers praise AmeriSave's attentive customer service, low rates, and quick application and closing process.

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Customer Review: Daniel from Falls Church, Virginia

"They were there 100% of the time. The loan officer was remarkable. She did a perfect job, guided me through the whole closing process, kept me informed, and was able to provide the same rate as a different company that I was considering, so I went with AmeriSave. I recommend them highly."

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The Good

  • Prequalify With No Impact to Your Credit Score
  • Online Application Process
  • Quick Closing Time
  • Variety of Loan Types
  • Mortgage Refinance Options
  • Lower than Average Mortgage Rates
  • Down Payment Assistance
  • Helpful Mortgage Calculators
  • Positive Customer Reviews

Prequalify With No Impact to Your Credit Score

A great feature on AmeriSave's website is the ability to get a free estimate for any type of home purchase or refinance loan. This pre-qualification process should have no impact on your credit score as a soft credit pull will be performed. 

You are not required to provide your social security number (SSN) when applying for an estimate. If, however, you like what you see and choose to complete an AmeriSave loan application, personal and financial information will be required and a hard credit pull will be performed.

Online Application Process

The AmeriSave mortgage application process is entirely online, allowing borrowers to quickly view rates and programs that they qualify for, as well as get to closing much faster. This online application process is even mobile-friendly, providing greater ease to consumers.

Quick Closing Time

The closing process on a house typically takes about 30 to 45 days, but AmeriSave promises to reduce this wait time significantly. AmeriSave has been able to get nearly 50 percent of its customers to closing in as little as 25 days or less.

AmeriSave's dedication to quick closing times benefits borrowers who are on a tight deadline. This benefit is often difficult to find with other mortgage lenders, making AmeriSave a great option if you are in a rush to close on your home.

Variety of Loan Types

AmeriSave has a variety of home loan products that satisfy the needs of most homebuyers. You can choose from the following options:

  • Fixed Rate Loan
  • Adjustable Rate Mortgage (ARM) Loan
  • FHA Loan
  • VA Loan
  • USDA Loan

These mortgage loan options are among the most popular in the industry, making it easy for most borrowers to find what they are looking for. Also, because AmeriSave is a direct lender it's able to cut down on costs, ultimately lowering interest rates for borrowers.

Mortgage Refinance Options

If you are looking to lower your monthly mortgage payment or take out cash, AmeriSave offers two refinance options:

  • Rate and Term Refinancing — lower your current interest rate and/or change the term length of your mortgage
  • Cash Out Refinancing — get cash out of your home's equity for home improvement of debt consolidation

You can quickly get a quote or use AmeriSave's Refinance Calculator to see if refinancing is the best option for you.

Lower than Average Mortgage Rates

Amerisave rates are approximately 0.5 percent lower than company competitors, such as New American Funding or Quicken Loans.

While Amerisave advertises low rates, it is important to note that you are not guaranteed the lowest rate upon applying. Securing the lowest available rate will generally be dependent on your credit score, credit report, and debt-to-income ratio (DTI), as well as any other company specific rate assessment factors. Rates are also subject to change daily based on the market.

Down Payment Assistance

AmeriSave works within Fannie Mae guidelines to help make down payments possible for low income families and first-time home buyers. This government backed program allows borrowers to put down as little as 3 percent of the purchase price of the home to qualify for a loan.

Not all mortgage lenders are Fannie Mae backed, making AmeriSave a great option for those who may need extra down payment assistance or who are first-time homebuyers. Having a government entity to help back mortgages makes AmeriSave an even more secure options for borrowers.

Helpful Mortgage Calculators

Mortgage calculators are available to help you decide quickly if AmeriSave is able to secure you a mortgage within your desired budget or not. These tools don't replace your conversation with one of its representatives or an AmeriSave loan officer, but they do help you comparison shop.

AmeriSave has the following mortgage calculators:

  • Mortgage Payment Calculator — view an accurate rate quote and calculate your monthly payment
  • Home Affordability Calculator — see how much house you can afford based on your income and current financial situation
  • Rent or Buy Calculator — see whether or not you should rent or buy a home
  • Should You Refinance Calculator — see if it's the right time for you to refinance your home loan

Positive Customer Reviews

AmeriSave excels in customer satisfaction, service, and attention. Out of the 930+ verified customer reviews on Best Company, 87 percent of them are four and five-star reviews.

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Customer Review: Robin from Leander, Texas

"My experience was outstanding. Everybody I spoke to at AmeriSave was professional, courteous, and got me the answers I needed. They guided me through the process in a very expeditious way. The representative I dealt with was exceptional. He did an excellent job. It was easy to navigate. I am glad I chose them."

AmeriSave customers most often praise the following:

  • Low interest rate
  • Quick and efficient loan process
  • Easy application process
  • Low closing cost
  • Personable and helpful loan officers

It is rare that a lender has such a high proportion of positive customer reviews, making AmeriSave a stand-out option in customer service in comparison to other mortgage lenders.

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The Bad

  • Not Available in New York
  • Costs May Vary
  • High Origination Fee
  • No Home Equity Loans
  • No Jumbo Loan Program

Not Available in New York

AmeriSave mortgage products and services are available in 49 states, and Washington D.C. Unfortunately, AmeriSave does not originate loans in New York.

Costs May Vary

AmeriSave does not provide potential closing costs and additional fees on its website. But, this is typical in the mortgage industry, as costs and fees may vary by borrower and by housing market trends.

If you would like an closing cost and/or additional fee estimate, you should speak with an AmeriSave representative who may be able to provide more personalized price ranges.

High Origination Fee

AmeriSave charges an origination fee including a $500 loan application fee, which is on the high end for the industry. The average application fee for the mortgage industry is approximately $300.

No Home Equity Loans

AmeriSave does not offer home equity loans or lines of credit, or home improvement loans.

A home equity loan use the borrower's equity as his or her collateral. These loans provide access to extra cash that can be used for home renovations, other large expenses, or as a debt repayment option. A home equity line of credit (HELOC) is similar, but acts as a revolving source of funds similar to a credit card.

If you are interested in these loan options, there are other mortgage lenders that offer them.

No Jumbo Loan Program

AmeriSave doesn't offer jumbo loans. If you are looking to finance an expensive home purchase (beyond the usual conventional loan limit), you will need to look into other mortgage lender options.

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The Bottom Line

If you are looking for a competitive mortgage rate from a trusted lender, AmeriSave could be a good option for you. Depending on the loan type and your own financial background, AmeriSave can help you purchase or refinance your home at a lower than average rate, saving you more money overall.

If you are looking to close quickly on a home or simply avoid a drawn-out mortgage process, AmeriSave can get you to closing faster than many of its competitors - in 25 days or less - a result of a streamlined application process and commitment to meeting borrowers' needs. Some customers complain that it took them much longer to get to closing with AmeriSave, but overall, the majority of AmeriSave reviews on BestCompany.com praise the company for a fast approval and closing process. In addition, the majority of AmeriSave borrowers have expressed high satisfaction with the company's customer service.

Based on customer reviews, we would recommend AmeriSave for your mortgage financing or refinancing needs.

Check out AmeriSave reviews below.

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4.5

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1,203 Reviews

Review Breakdown

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77%

4 grade

12%

3 grade

2%

2 grade

1%

1 grade

7%

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Bryan Salt Lake City, UT

I used them before and I'm glad I did. They have great service and timely closing. We're having trouble because they're not paying the escrow payment for our insurance on our home in on time and we're getting notices of cancellation. We're trying to work that out because we get voicemail over and over again and we don't seem to be able to get through to a live person to see why this hasn't been paid.

3 weeks ago

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Gilbert Flagstaff, AZ

Customer service is knowledgeable about everything, was very helpful, and then I got a follow up call every Monday and just give me an update on what's going on, what else needs to be taken care of and stuff like that, so they're very pleasant to deal with. Everything was very smooth would definitely recommend them. It was just a really good process. Everything's all right and I'm good with everything.

3 weeks ago

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grayer margaret Macon, GA

my experience with them was very good. they were patient with me and was very helpful with walking me thru using the computer to making the loan and closing on the loan.

2 days ago

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Roger Saint Petersburg, FL

Anytime I needed anything or if they need anything they got a of hold me right away and get whatever they needed and it went very smoothly and didn't take very long at all to some orders. James was the person who I talked to this morning and he helped me through the the whole thing.

2 weeks ago

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Michael Rozet, WY

Had a great experience with them. We just had a little bit of a hick up with getting a home inspection done because we live in a rural area but that was nothing against Amerisave, it was just trying to get somebody out here to do it. Every time I had a question it was easy to get answered.

2 weeks ago

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Steven Clarks Mills, PA

They are very helpful very, very knowledgeable. Basically everything was done online and they came to me. Any questions or anything they had an answer they didn't have to get back to me because they answer me right on the spot. Very trustworthy.

2 weeks ago

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Andrew Plymouth, MA

I had sent in paperwork multiple times and it would have been nice if they could send you everything once rather than going back and forth a bunch of times but otherwise it was pretty good. Everybody I spoke with was great, very responsive and willing to help at all times. It was really convenient just to do it right from the computer and I'm happy I did it. For the most part no complaints.

2 weeks ago

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Deanna Big Prairie, OH

It was a very good experience. Everybody calls and everybody talks, Everything went smooth and they answered all the questions. They emailed A. S. A. P. it was a very smooth process. They answer every question and they were there for every step. Marjorie called me and her voice put me at ease and it was just the easiest process I ever had.

2 weeks ago

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James Twentynine Palms, CA

The process went so quick and easy and the people kept us informed. Amerisave asked for information and I sent it to them they looked it over they they kept us informed every step of the way. They were great with the communication.

2 weeks ago

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Karren Ooltewah, TN

I would refinance with AmeriSave again. I had a great experience my first and second time. It was very seamless. The representative I talked with explained things very well. Customer support was easy to convenes with. All my questions were answered. The title company we used was also great. I really enjoyed working with them.

2 weeks ago

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Rudi Bessemer City, NC

Truly they are prompt with their responses and provided quality offers quickly. It is a very easy process. The only difficulty was at the end but overall it was easy and I was very pleased. When I needed help and wasn't able to get a hold of someone in customer support, they called me promptly. I had other offers but amerisave were the only ones the really walked me through the process.

2 weeks ago

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Raquel Cleveland, OH

Glad I did it. It felt comfortable. The process is really easy. It is really fast. I would recommend anyone who is interested to follow what the loan officer requests and check every day. My loan officer really helped me. They have employees who know what they are doing. I am super happy.

2 weeks ago

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Anonymous Carson City, NV

I chose them because they had the top rating and I had a good experience. I had a bad experience with a previous mortgage company and with Amerisave it was smooth. I was very pleased. I think they are very good company. Their people seem to know what they are doing.

2 weeks ago

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Golan Van Nuys, CA

Keep doing a great job. I found a better deal and they were able to match it. Everything is done online. I always dealt with the same guy when I called customer service and he was really easy to work with. They waived a lot of the fees foe me since I was a repeat customer. I would recommend.

2 weeks ago

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Christine Allen Broadway, NC

Amerisave associates were able to work with me to ensure that I recieved every single thing that I wanted from this expierence.

2 days ago

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Marcus Detry Miami, FL

Lauren F. was absolutey phenomenal in walking us through the entire process and supporting us through a delayed closing. She is a major asset to the company!!!

1 week ago

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gregory k haley Greenville, SC

Timmy A was my processor and loan originator. I could have done better with rates but Tim was the difference with his never a bad moment for questions day or night. He is the absolute best of class.

2 weeks ago

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Theresa Altadena, CA

Great experience keep up the good work. I am very happy with my results. My agent was very communicative. The portal is very user friendly. It was very easy to refinance. I dint have do much of the process.

2 weeks ago

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Ronald Hemet, CA

Amerisave is the fastest and most reasonable as far as cost. It is the easiest process for a loan. It was so quick and easy. They were one phone call away. The loan agent would call me back if she wasn't there.

2 weeks ago

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James Louisville, KY

Anytime I sent an email or left a voicemail, someone got back to me within a reasonable amount of time. They were very helpful. Communication was good. Everything moved fairly quickly.

2 weeks ago

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Stanley Shelton, CT

Their only shortcoming was it took forever to get my bank statements reviewed for approval. Artificial intelligence really struggles. Everything else was great. The only person I dealt with was always responding quickly.

2 weeks ago

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Janel Hazelwood, MO

I'm extremely glad I did it. They helped me through it. She would call me back right away to answer my questions. It was so easy and organized. I would recommend them to anybody.

2 weeks ago

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Lloyd Lutcher, LA

We're happy with the service we had. We did have send an extra pair of paperwork but I never had any problems getting in contact with anyone. Everyone was personable and efficient.

2 weeks ago

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Antoinette Love Roselle, NJ

Service provided during initial process. However, less than 60 days at completion of process mortgage resold.

2 days ago

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Rose Consigli Littleton, CO

Honest and great rates! We've looked at other mortgage companies and we always end up back with AmeriSave!

2 days ago

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Karen Aiello Mount Morris, MI

Never had to leave the house. Did all business on line and on the phone until closing then someone came to my house for closing.

1 week ago

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Richard Loveland, OH

We had really good communication back and forth and the person we were working with just made the process pretty quick and easy.

1 week ago

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Baljit Reno, NV

I think I got a better rate with them than I would with anybody else out there. I like that the process is easy and simple. It works. I am glad I did it.

2 weeks ago

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Alayne Everett, WA

We worked with Rebecca M. I felt like she was a phone call away. She was very helpful and easy to work with. If I had issues, she helped me resolve them.

2 weeks ago

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Edward Dallas, GA

Excellent customer service. The people I talked to were very prompt, helpful, courteous, and processional. They did a great job. Everything was easy. It went very smoothly.

2 weeks ago

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Timothy Anniston, AL

I refinanced with them because I had previously had good service with them. It was easy and convenient. I hope they keep up the good customer service.

2 weeks ago

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Ron Hoyt Virginia Beach, VA

A simple, streamlined process. No surprises and always communicating and helpful. Have already recommended to two people, one who refinanced with them.

3 weeks ago

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Isaiah Mohnton, PA

The customer service was responsive. The only negative thing is that its too premature, the loan was already sold to another company and they didn't keep the portfolio.

3 weeks ago

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Victor Shreveport, LA

Amerisave employees contacted me initially and made it a lot easier than other companies. They get back to me very quickly. Tyler Elms was great. They contacted me mulptile times throughout the day to get certain information instead of getting it all during one call.

3 weeks ago

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Reply from AmeriSave Mortgage

We appreciated your patience, and we appreciate your feedback on your mortgage loan. 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 [email protected]

Oct. 5th, 2021

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Gabrielle Cincinnati, OH

The person I worked with seemed very knowledgeable and he worked out nicely. It went very quickly because it is very efficient and they walk you through the process. There are a lot of automated messages that were kind of useless.

1 month ago

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Michael Port Richey, FL

Everything is fine. The people I worked with were absolutely fantastic to work with. Every time I call, I get the answers and stuff I need. I hoping that I could call and cancel automatic payments and not have to write it.

1 month ago

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Melinda Ochoa Oakland, CA

I learned my last refi mortgage company did not record the title documents at all, it was a mess. Amerisave was patient and helped me get everything corrected and recorded properly. Amerisave was fabulous!

1 month ago

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Marsha Gilbert, AZ

Keep up the good work. I would definitely use it again in the future if I need it. I am very pleased with the service. It was quick and easy and very straightforward and easy to understand. Everyone I dealt with was pleasant and knowledgeable and efficient.

2 months ago

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Martha Shelton, WA

We’re glad we did it. We liked our officer. When we first talked with him, he answered all our questions and was straightforward with all the info. We were kept informed of all the steps and what was happening. It was an easy process to get through. It was a god experience.

2 months ago

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Muhammad Khan Woburn, MA

The team I worked with; Sebastian Salinas and Amy Warford; both very responsive and helpful through out the entire process of applying for loan, to closing. I wanted to close 2 weeks earlier than the scheduled date. They helped me made that possible.

2 months ago

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Zalmay Zapalmal Grovetown, GA

Super fast and super accurate! Thank you for all your help. Your service was good and very FAST. Many thanks for you kind and efficient service. An amazing service over all.Timothy Taylor provided me with outstanding service.

2 months ago

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Mike Antonovich Midlothian, VA

Super fast approval/appraisal/close process. First contact to final contract in 21 days!

2 days ago

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Bapapon Worcester, MA

Really low rate. Fast and Easy Process. The Loan Originator is nice and professional.

2 days ago

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Kathy Madden Cottonwood, AZ

It was very easy to handle everything electronically and everyone was always very helpful!

2 days ago

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JUAN GREYU Charlotte, NC

the team is very good, honest, very helpful, and very experience also very professional.

2 days ago

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Luis E Fernandez Orlando, FL

The best of all Mortgage Company and they should have more like Margarite D. working or promote her to the next level she deserved.

2 weeks ago

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Jorge D Spring, TX

Very happy with team's work. We managed to close the mortgage in 15 days, which is pretty good. I am happy overall. It is a very good service.

2 weeks ago

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Manoj Bothell, WA

All the information they provided helped it move quickly. They were very helpful helping me chose a loan. I got it right away.

2 weeks ago

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Melissa Rockford, MI

I will recommend them. They were professional and timely anytime I had a question and they kept me informed and made it easy.

2 weeks ago

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Anonymous Pendleton, OR

They have the best rate and the process is really easy and they are great with their communication. The experience is good.

2 weeks ago

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