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9.9
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AmeriSave Mortgage is an online, direct mortgage lender in 49 states and Washington D.C. Since its founding in 2002, AmeriSave has funded over $103 billion in home loans and has been trusted with over 390,000 homes. The lender offers a variety of loan types, including mortgage refinance options, and can get most homebuyers to closing in 25 days or less.
AmeriSave reviews are overwhelmingly positive with 90 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.
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."
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.
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 aren't 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.
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 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.
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.
AmeriSave has a variety of home loan products that satisfy the needs of most homebuyers. You can choose from the following options:
If you are looking to lower your monthly mortgage payment or take out cash, AmeriSave also offers two mortgage refinance options:
You can quickly get a quote or use AmeriSave's Refinance Calculator to see if refinancing is the best option for you.
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.
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:
AmeriSave excels in customer satisfaction, service, and attention. Out of the 1,400+ verified customer reviews on Best Company, 87 percent of AmeriSave reviews are four- or five-star.
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:
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.
AmeriSave mortgage products and services are available in 49 states, and Washington D.C. Unfortunately, AmeriSave does not originate loans in New York.
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.
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.
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.
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.
Call our recommended rep over at AmeriSave Mortgage below.
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2 months ago
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3 days ago
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2 months ago
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2 months ago
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Djosse Atchade Rockville, MD
4 months ago
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