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AmeriSave Mortgage

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9.9

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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."

Read verified AmeriSave Mortgage reviews

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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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1,000 Reviews

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3%

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Lori Harleysville, PA

The process is pretty easy especially since I was guided through everything I needed efficiently. Every time I emailed the, I got a response quickly and got the information I needed.

2 days ago

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Leslie Unicoi, TN

They are very helpful. Because of them I was able to purchase a home. I had a lot of questions and they made sure I was walked through it and I understood everything. She did a great job.

2 days ago

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Imtiaz Mondal Rosemount, MN

It is the most convenient and comparatively easy. The information about the mortgage was pretty transparent. It was easy to get a hold of a loan officer. Whenever I needed information, the response was pretty quick.

2 days ago

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Michael Clarkdale, AZ

Our loan officer who handled both my loans, one a year and a half ago and then this year, was excellent. He did an excellent job. I was always able to get in contact with him. He is always returning phone calls and answering questions.

1 week ago

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Conrad Lake Worth, FL

The company is very trustworthy and they made it so their process is very easy and convenient. It was a good experience. They were a little over the op requiring receipts from things that don’t make sense but we were able to work our way through it. I was pleased that I got the best interest rate.

1 week ago

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Gary Freeport, FL

If I called they either answered or if they weren’t available, they called me back as soon as possible and answered my questions. Working with them is pretty painless. They are really helpful and friendly. Some of it is confusing.

1 week ago

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Joseph Hartford, MI

To the other people that are thinking about refinancing, go ahead and work with AmeriSave. They are good at being there every time there is a questions. I am happy with them.

2 days ago

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Lev Sherman Oaks, CA

The loan originator was extremely helpful. Overall it was very good but it took too long to close but that wasn’t amerisave’s problem, Union Bank created some problems.

2 days ago

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Karen Driftwood, TX

There were some hiccups because they weren’t communicating well and asked me for the same thing over and over again. The loan closer was excellent. She got everything taken care of.

2 days ago

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Yestella Kissimmee, FL

AmeriSave’s home page I found to be confusing and it was often difficult to find the documents that they wanted me to upload and where to put them and the person who I worked with in customer service would change. The interest rate is low so I am still glad I went with AmeriSave.

1 week ago

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Sharon Versailles, MO

Staff is very responsive and listen to you. They got us what we needed. I thoroughly enjoyed the process. It really was hassle free and easy. Everything was streamlines and organized.

1 week ago

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Brian Homer, LA

We would recommend amerisave to anyone. It was extremely easy because of the website. We got it done in a day. They lady that helped us told us everything. She got back to us.

1 week ago

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John Huntington Beach, CA

Nothing could be any better. They are fast and very helpful. There is no lying. They are very trustworthy. I look forward to doing business with them again. I couldn’t be happier. I would definitely recommend them.

1 week ago

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Katherine Fort Washington, MD

If I ever had a question, I could call them and they would answer right away. They were very responsive and streamlined everything. It made it very easy. I highly recommend them.

1 week ago

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C Grand Junction, CO

We have used it multiple times in the past and is has been good every time. Everything was done exactly how they had said they were going to do it. There were no problems. It was easy and super fast.

1 week ago

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Kurtis Saint Augustine, FL

The only thing I think they could do better is when they are gathering information for the loan, it could be more organized and not ask the same stuff two times. That was the biggest problem, the organization. They gave the best rate and I am glad I chose them.

1 week ago

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Ronald Caswell Chesapeake, VA

They were easy to contact by phone, the web portal worked well and was easy to use, their rates were extremely competitive and I didn't have to talk to a machine when I called them...nor was I put on hold for hours like with so many of the other firms I talked to.

2 weeks ago

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Anonymous Fort Pierce, FL

Overall I am happy I went through the process. It took time to get everything done which was stressful but aside from that I’ve had no problems. It was all through the portal but it was much fasted the old way of doing things through the amil because it is hard to get all the documents scanned. He responded to all my calls and emails and did everything in their power to get things moving along.

4 weeks ago

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Sandra Sanger, CA

Everything went really smooth. They would call me back as soon as possible if I had questions and they were really knowledgeable.

2 days ago

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Lucas Norman Park, GA

It’s a great company. I would recommend them to anyone wanting to refinance. Jonathan, our rep was very helpful and stayed in contact the whole refinance process.

1 week ago

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Carolyn Chula Vista, CA

Seems to be a very good company. The process is extremely easy. Everything went through without problems. It was done in ten days. The price is very competitive.

1 week ago

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David Rios Pueblo, CO

Very good with communication in the process and are very knowledgeable in there respective trades. To me communication is everything and these guys nailed it.

1 week ago

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charles currie Jackson, TN

My experience with AmeriSave was excellent. The refinance process was simple and they didn't waste any time informing me to what I needed to do and I was able to close in a few days. I recommend them above all the rest

2 weeks ago

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Craig Mesa, AZ

Customer service was always available to answer any questions I had. They were able to get the process done very quickly. It took about four or five weeks to get through the process.

4 weeks ago

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Robert Georgetown, TX

We chose them because they were the best to work with though there were a lor of issues between departments that made it drag out for more days than I think is normal but it still isn’t horrible. It is just the longest mortgage.

4 weeks ago

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Roqueza Hudson, MI

I am happy I was able to get the house I like. I got very good feedback from a lot of people from this company. The ones that worked on my case were really into it. She worked really hard on my case. I had to delay the closing date one or two weeks. It is not going to be an easy process but it is going to be what it can be.

4 weeks ago

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Douglas Niles, OH

The process was very pleasant and everyone was very professional. Everything was easily understood. When they send you something, you are alerted immediately. We were pleased.

4 weeks ago

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Virginia Wellington, NV

Every body was helpful getting me through the process. The loan was done in like three weeks. It was amazing. They walked me through everything so I understood everything. I would certainly recommend them.

4 weeks ago

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Steven Grand Rapids, MI

If anybody needs a loan I would recommend them. They did a good job for me. I am seeing the money. I am happy. They helped me out a lot. It took a while but they got it done for me.

4 weeks ago

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Dustin Lebanon, IN

They offered me the best rate. I am glad I chose them. There have been no issues. I don’t feel like it was complicated due to their willingness to explain things. I took a long time but no matter who use it is going to take that long.

1 month ago

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Christopher Winter Springs, FL

Very pleased with them because they have come through. It is a good low loan cost. They were able to work with me which is never easy because I am self employed. They were efficient and got things done on time and came in at the rate they quoted. All my questions were answered and they made the process as easy as possible.

1 month ago

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Nancy Highland, IL

I was pleased with Lauren she helped me over and over again. She was the first person I worked with. I got turned over to someone else and I wasn’t as pleased with that person because their fax machine didn’t work and she didn’t seem to listen.

1 month ago

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Kenyon Bush Baltimore, MD

Everything thing went well except a issue I had multiple times were AmeriSave pulled my name from the internet on the initial application. Which lead to them pulling a guy that lived in another state. This guy with my same name was called at least 3 times about my loan. I asked for it to be fixed on multiple occasions but even down to my signing agent he was given the information of the guy in the other state and didn't show for my initial closing because of it. I recommend that information is not pulled from the internet to apply to applications to avoid this.

1 month ago

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Sergio Barragan Wilmington, CA

I loved doing business with them , everyone I talked to at Amerisave were very knowledgeable about everything, I really liked the fact that you can almost do everything online. Thank you Amerisave for making my home refinance pleasurable.

1 month ago

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Ronald Mount Laurel, NJ

America Save is good for anyone looking for a mortgage. I would highly recommend them. My loan officer was extremely professional and personable. He was absolutely supportive every step of the way. If we had an issues or missing anything, he was able to help us get the appropriate documents uploaded into the system.

1 month ago

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Anonymous Olympia, WA

All was good. I checked other mortgage companies and I got the best feedback when I talked with AmeriSave. The gentleman I dealt with was very knowledgeable and answered the questions I needed answered. Sometimes he even gave me information I didn’t ask for.

1 month ago

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Robert Santa Fe Springs, CA

I’m glad I chose Amerisave because it had met all my needs. Everything is online and I am not so good at online things so I did sometimes have issues doing the stuff but when I called customer service, they were there for me every time. I am glad I went with them.

1 month ago

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Ariel Martinez Miami, FL

Overall good experience, but Amerisave's response time to my questions could have been better during loan processing period.

1 day ago

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peter fong sam Walkersville, MD

quick response to questions/concerns; working for the customers' best interest; excellent customer service

1 day ago

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Gowtham Austin, TX

Customer service is pretty supportive throughout the entire process. They give very detailed responses.

2 days ago

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William Madisonville, KY

I am glad we chose Amerisave. Everything went smooth. We closed with no issues. It was really good customer service. We worked a lot with Sean and he was wonderful.

1 week ago

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Anonymous La Mesa, NM

It is okay but they took a really long time to get everything. There were issues with the underwriting. They monitored my credit for like six months and it was a VA sponsored loan so I don’t know why they did that.

1 week 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]

Jul. 21st, 2021

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Chase Morgan, UT

Process is quick but it took me a while to find out who to pay with my mortgage after it was all said and done. I am still glad I did it.

1 week ago

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C Canton, GA

The people you speak to are great and helpful however their automated proves can cause a long delay in the process. We started in November and didn’t close until the end of April.

1 week ago

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Reply from AmeriSave Mortgage

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

Jul. 22nd, 2021

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Anonymous Brookings, OR

Process of getting the loan is very fast and simple. Anytime I had a question, it was easy to get a hold of someone and easy to get answers that I need.

1 week ago

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Suzanne Clayton, NC

I worked with Andrew and he was excellent. My loan was closed in three days. They kept up on everything. I am extremely pleased.

1 week ago

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David Louisville, KY

Support is always available to answer questions. I like everybody. The process was very easy. I am satisfied with what they did.

1 week ago

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Shane Kuna, ID

All the documents required are easily attainable so it is simple and convenient. I could do it remotely when I was traveling. It went pretty smooth.

1 week ago

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Aaron Galesburg, IL

The loan officer helped us through the tough times. She was always there for us when we needed us. They gave us a chance when nobody else would.

1 week ago

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Edivaldo A Fontes Boca Raton, FL

Great team worked to get us the best rate and record fast closing. Nas Nouilati was decisive in our decision, for his great services.

1 week ago

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