In 2002, AmeriSave was founded in Atlanta, Georgia as a dedicated mortgage lender that has since grown in popularity with licensing expanding into 49 states and the D.C. area. AmeriSave has been trusted with over 280,000 homes and promises on its website to "provide low rates, transparent pricing, easy online applications and most importantly great customer service."

This promise is reflected through a number of AmeriSaves services that will be talked about in detail throughout this profile. Or, if you want to read what other consumers have said about their home loan experience, then jump straight to AmeriSave reviews here.

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AmeriSave Accolades:

  • AmeriSave is consistenly awarded a spot in the top 10 for customer satisfaction by Lending Tree — America's largest online lending marketplace.
  • In a recent survey, 94% of customer respondents said that they would recommend AmeriSave to a friend.*

*Based on internal survey data from 3/20/16 – 3/20/18

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The Good

  • Quick Closing Time
  • Variety of Loan Types
  • Down Payment Assistance
  • Free Online Estimates

Quick Closing Time

AmeriSave aims to help borrowers save time. Normally, the closing process on a house can take about 30 to 45 days. AmeriSave has been able to help nearly 50 percent of its customers close in as little 25 days or less.

AmeriSave is able to cut down on the closing time by streamlining each of the following:

  • Applying online
  • Getting pre-approved
  • Finding a home
  • Closing on your home

AmeriSave's dedication to quick closing times benefits borrowers who are on a tight deadline. This emphasis is something that is often difficult to find with other mortgage companies.

Variety of Loan Types

AmeriSave has a variety of home loan programs. These programs includes:

  • Fixed rate loans
  • Adjustable rate loans
  • FHA loans
  • VA loans
  • USDA loans
  • Cash out refinances

These mortgage loan options are among the most popular in the industry; however other mortgage lenders may have a few more options in addition to AmeriSave's services — such as a jumbo loan.

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.

Free Online Estimates

A great feature on AmeriSave's website is the ability to get a free estimate for any type of mortgage or refinance loan. Mortgage calculators are available to help you decide quickly if AmeriSave is able to secure you a mortgage within your desired budget or not.

This tool does not replace your conversation with one of its representatives. However, it does help you comparison shop and provide transparency that is often lacking from other mortgage lenders.

The Bad

  • Unclear Costs

Unclear Costs

If you are in the heat of the mortgage comparison shopping process then you may be disappointed to discover that AmeriSaves does not disclose its additional fees online. Fees often vary as the housing market ebbs and flows, making it difficult to disclose things such as closing costs without a phone call with a representative.

In addition, future AmeriSave customers can get a pre-approval letter through AmeriSave, but it is unclear if that letter is a free service or requires an application fee. Many mortgage lenders offer this as a free service, saving potential borrowers a few hundred dollars, but with AmeriSave it is unclear what fees are associated with it.

The Bottom Line

AmeriSave has a strong reputation in the mortgage industry with the sheer volume of its clientele acting as a testimony to customer satisfaction and reliability.

AmeriSave is a great choice to consider if you are in need of specified loans or if you are in need of down payment assistance.

Check out AmeriSave reviews below.

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