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Amerisave FHA Loans Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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Amerisave is a mortgage provider based out of Atlanta, Georgia and founded in 2002. The company provides loans for first-time homeowners, including loans insured by the Federal Housing Administration for homeowners with less-than-good credit who cannot afford a large down payment, known as FHA loans.
 
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How is Amerisave rated?

Breakdown

0.0/5
Geographic Availability
4.5/5
Customer Experience
5.0/5
Lender Reputation

Overall Rating: 4.5 / 5 (Excellent)

Amerisave is a large, well-known mortgage lender that offers a wide range of mortgage products, including FHA loans. FHA loans stand out as one of the most accessible and affordable mortgage options. They are government-guaranteed loans, which are considered lower risk than conventional mortgages and often come with lower interest rates, lower down payment requirements, and more lenient credit qualifications.

Amerisave has nearly twenty years of experience in FHA lending and has funded more than $103 billion in loans. The company offers FHA loans for both purchases and refinancing.

It's easy to get a quote from Amerisave by answering a few questions, though when we tested the quote system, it only returned one loan option for a 30-year fixed rate loan. Customers who want to do a little more digging into their options will need to speak directly to a loan officer. The company offers a live chat option for that conversation, which makes it a little more convenient to get the information you need. The loan originator we spoke with was responsive and informative.

Amerisave Loan Specifics

Types of FHA Loans Offered

FHA Fixed-Rate 15-Year
FHA Fixed-Rate 25-Year
FHA Fixed-Rate 30 Year
FHA Fixed Rate 15 Year
FHA Fixed-Rate 30 Year
FHA Adjustable Rate Mortgage (ARM)
FHA Jumbo Fixed Rate
FHA Hybrid
FHA Bridge/Relocation Loan
FHA Home Improvement 203(k)
FHA Self Employed

Key FHA Loan Facts

Minimum FICO Score
600
Non-Traditional Credit History Considered
Yes

Loan Specifics - 4.5 / 5

Amerisave offers FHA loan terms of 30, 25 and 15 years and 5-year adjustable rate mortgages. In some cases, for example if you have a high credit score or can make a large down payment, the loan originator may steer you in the direction of a conventional loan. We appreciated that effort on the company's part to advise on the best deal. FHA mortgages aren't always the most economical option, because, with an FHA loan, borrowers have to carry private mortgage insurance on their loans, which can amount to $100 or more in premiums per month.

Amerisave Customer Experience

Customer Experience - 4.5 / 5

We had a really terrific online experience with Amerisave. We received an instantaneous quote by filling out a simple form. We were then immediately connected with a loan originator via live chat, who was able to answer a wide variety of questions on our rate quote. He answered questions specific to FHA loans, including the various term and rate options available, and proactively provided information that compared FHA loans to conventional loans.

Online Features

Online Application
Yes
FHA Mortgage Calculator
Yes
Online Quote
Yes
Social Security Number Required for Quote
No

Amerisave Lender Reputation

Lender Reputation - 5 / 5

Amerisave is a company accredited by the Better Business Bureau, holding an A+ rating with 2,062 complaints closed in the last three years. The company holds a 4.3 rating on Trustpilot out of a possible 5, with the overwhelming majority of reviews rating the company “excellent”.

Key Reputational Facts

Year Founded
2002
BBB Rating
A+
Trust Pilot Rating
4.3 out of 10
Date Collected
2022-02-08

Complaints & Actions

Nationwide Mortgage Licensing System ID
1168

Company Profile

Full Name
Amerisave FHA Loans
Company Website
https://amerisave.com
Headquarters
8 Piedmont Center, Atlanta, GA, 30305

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