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AmeriSave Mortgage Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
28 Customer Comments & Reviews - see all comments
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AmeriSave Mortgage Corporation is an Atlanta-based retail mortgage lender offering fixed and adjustable-rate loan products including purchase and refinance loans, VA, FHA, USDA, and non-conforming loans. The company, which has over 17 years of industry experience and holds an A+ rating with the BBB, provides exclusively in-house services, from processing and underwriting to closing and funding.
 
VIEW RATES

How is AmeriSave rated?

Breakdown

5.0/5
Lender Types
4.9/5
Available Mortgage Types
5.0/5
Customer Experience
4.9/5
Reputation & Transparency

Overall Rating: 4.8 / 5 (Excellent)

AmeriSave Mortgage Corporation is an online mortgage lender offering competitive rates and a broad range of loan products to choose from. The company underwrites conventional, government-backed, conforming, and non-conforming loans with fixed or adjustable rates and delivers a truly convenient service that's fully managed in-house. With AmeriSave, clients can complete the entire loan application process from the comfort of their homes. The company offers two special features. First, AmeriSave offers a 90-day certified Lock & Shop interest rate that protects you from rate hikes while you’re shopping for a house. The locked rate does not require a signed purchase contract, which gives you more flexibility. Second, Amerisave offers a Certified Closing Promise: AmeriSave will pay you $1,500 if your loan doesn’t close. Restrictions do apply so contact an AmeriSave representative about the Certified Closing Promise to see if you’re eligible.

If you're searching for a quick, convenient, and reliable alternative to traditional mortgage lenders and brokers, check out AmeriSave. Offering eligible buyers a vast array of mortgage lending options, the company may supply exactly what you've been searching for.

AmeriSave Loan Specifics

Available Mortgage Types - 4.9 / 5

AmeriSave offers a wide variety of conventional, FHA, VA, USDA, conforming, and non-conforming loans with fixed and adjustable rates. What sets this company apart from other competitors is the fact that they attempt to make the process of shopping for mortgage loans and rates extremely easy through a simple, convenient application process.

Types of Mortgage Loans Offered

  • Fixed Rate 10 Year
  • Fixed Rate 15 Year
  • Fixed Rate 20 Year
  • Fixed Rate 25 Year
  • Fixed Rate 30 Year
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM
  • Jumbo Fixed Rate
  • Jumbo Adjustable Rate
  • VA Fixed Rate
  • FHA Fixed Rate
  • USDA Loan

AmeriSave Customer Experience

Customer Experience - 5 / 5

AmeriSave's client-oriented services save borrowers time and effort through a streamlined application process that yields fast results. The company also offers quick online personalized quotes. The website provides valuable loan product information as well as useful tools and additional resources like a glossary of commonly used terms and various types of mortgage calculators.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Help Articles
Check Today's Rates
SSN Required for Quote
Yes

AmeriSave Qualification Requirements

Qualification Requirements - 5 / 5

The down payment amount and the maximum debt-to-income ratio will vary depending on the loan type as well as the appraised value of the home. AmeriSave does not disclose whether or not they accept non-traditional credit histories, but require a minimum FICO credit score of 620 for conventional loans and 580 for government-backed loans.

Key Requirements at a Glance

Minimum FICO Score (FHA)
580
Minimum FICO Score (Conforming)
620

AmeriSave Lender Reputation

Reputation & Transparency - 4.9 / 5

AmeriSave is not yet accredited by the Better Business Bureau but holds an A+ rating with the organization based on 30, mostly negative, customer reviews. Although they have received a total of 113 complaints to date on BBB.org, this figure is not uncommon for a lender servicing 49 states and the District of Columbia. There have been few regulatory actions taken against this lender, and they only been the object of a moderate number of complaints—again, for a company of its size—on the Consumer Financial Protection Bureau's website.

Key Facts

Lender Type
Direct Lender
Year Founded
2001
BBB Rating
B
BBB Positive Reviews
5
BBB Negative Reviews
25
Trustpilot Rating
4.5 out of 5
Collection Date
2018-02-02

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
1168
The Nationwide Mortgage Regulatory Actions
11
Consumer Financial Protection Bureau Complaints
243

Company Profile

Full Name
AmeriSave Mortgage
Company Website
https://www.AmeriSave.com
Headquarters
3350 Peachtree Road NE One Capital City Plaza, Suite 1000, Atlanta, GA, 30326

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28 Customer Comments & Reviews

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V
Vicki w
2/14/2021
Bryce powers is not professional took my appraisal money on my house and never called me back. Completely ripped us off. Told my insurance agent he don’t care what insurance I have on my home just get them to the closing table

luddite90034
2/12/2021
Had exactly the same experience as Cheryl C. It's been over two months I've been trying to refinance with this company and it is still not done!! Unacceptable when my credit score is over 800 and have never had a problem getting a loan!! It's just one endless document request after another. DO NOT USE THIS MORTGAGE COMPANY!!!

Cheryl C
2/2/2021
WORST experience ever!!! It's been over two months I've been trying to refinance with this company and it is still not done!! Unexceptable when my credit score is over 800 and have never had a problem getting a loan!! DO NOT USE THIS MORTGAGE COMPANY!!!

rdg3721
1/27/2021
Have been round and round for 4 weeks. Poor process and internal communication...keep getting automated emails for 1) info already provided multiple times 2) New info piecemeal (drip, drip). I have more than enough financial resources so this should have been quick in and out. Hard to believe a company so customer negligent can stay in business.

C
CYNTHIA S
1/25/2021
OMG, I wish I would have read the reviews below first, could have saved a huge amount of time, interest and ridiculous requests. The absolute worst experience. 5 months, still no refinance loan. Asking for the same documents over and over and going nowhere. Cancelled our application today. BTW, we both have excellent credit and were looking for a $400,000 refinance on a $1.3 million home. DO NOT USE THEM!!!

R
Robert C
11/22/2020
I applied for a refi with AmeriSave on 7/31/20 after finding their online advertised 30yr fixed rate. My loan originator was Sade Mitchell NMLS ID #1595508, and my loan processor was Hailey Cook. The first red flag I received was a demand for a $500 application fee to apply for the advertised rate. I had gotten estimates and have done refi’s in the past. This was the first time being asked to pay upfront to apply for the advertised rate. The second red flag was the eagerness by Sade to emphasize my offered rate was “guaranteed” regardless if mortgage interest rates went up. This was reiterated several times during our initial conversation. I now realize it was a misleading and deceptive... Read More

vickiefox2020
11/21/2020
I am in need off refinancing my home my credit is not that good butt I can't lose my home it was my great grandmothers and i just ran into some hard times i need help please

R
Rosemary B
10/23/2020
I applied for a refinance loan approximately 5 1/2 months ago. I was timely submitted everything they requested, and several weeks went by before anyone would respond to my emails or phone calls. Had to pay for appraisal upfront before they would work with me. From beginning to end, since my initial application, I finally had to terminate them because they repeatedly asked me for the same documents and after six months, they had to re-pull my credit report. At that point, I just gave up and decided to go to another lender. If I allow them to get another copy of my credit report, I wish the chance of again sitting there waiting for six months with nothing gets done. This is by far the... Read More

asimmiari
9/29/2020
Bad service and I believe that they are scam , and they are playing numbers game to charge you very high closing cost. Actually even they are honest you will not save anything and you will pay a lot. I can not believe that they get high ratings here . It must be another scam.

kukush1
9/26/2020
I am dealing with this company right now. After uploading all the requested documents on your website and emailing the loan processor the same documents and waiting 3 months, it is shocking I got an email asking for the same documents again. The new processor is claiming she can't see the uploaded documents and she also requested from the 3rd party the same documents requested before. It is unfortunate I did not read a review before I paid my 500 dollars to this company. All the loan documents I received from the company shows an application fee again. What a waste of time and money dealing with this company!

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