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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

Loading Reviews ...
April H
9/25/2020
Horrible customer service. 2 months still waiting for our loan docs. Someone told us to be home at 5pm for the notary to sign the final papers. NO SHOW, NO PHONE CALL, emailed them NO RESPONSE. I am a well qualified borrower. DO NOT USE/

D
deborah d
9/22/2020
I've been working on a refinance with AmeriSave Mortgage for almost three months. They are incredibly slow and uncommunicative. AND they increased my out of pocket costs which was shocking.

J
John V
8/18/2020
First off, the initial response to a refinance application was met by a ' Rosie '. Rosie sent me a few text messages requesting information to which I responded. Then I get a separate message requesting I call to proceed. I call and get a person who didn't initially identify herself until I asked who I was speaking to. Come to find out from this live person that ' Rosie' isn't a real person. It's an automated bot. After initially applying to refinance my home, I requested the type of loan to be a cash out. With receiving $40,000.00 at closing. This was done through the application and verbally with the real person who was/is a loan originator. The loan originator has a fiduciary duty to... Read More

Stephanie T
1/3/2020
At first things went great but quickly declined. We had a difficult time getting in touch with our loan processor. Our loan was held up because of a past employer not sending in employment verification. This occurred even though we had specifics about Time, length and salary of that employment. Then after everything is finally done, we are are SHORTED over $3000 from our cash to borrower amount. It took two days to get this fixed. Then Solidify, the closing company, supposedly the ones responsible for the error, sent a paY off check to us, not the company, in the wrong amount, for us to mail to the company. This was never disclosed either. We were away and the check sat there for... Read More

ricochet212
10/22/2019
When I was first contacted by the Amerisave representative regarding refinancing my mortgage, I immediately informed him that my 2 prior applications to well-known firms had proven futile given my debt to income ration was too great. (In fact I had given up on the idea.) But he immediately dismissed that notion because Amerisave is made up by individual investors and are not restricted by the stricter lending standards most conventional lenders must operate under especially given my extremely high credit score. He could not envision my being declined and proceeded to convince me to proceed with the application. This application involved a $500 non-refundable application fee which he... Read More

J
Jim
11/4/2017
Terrible company to deal with. Misleading originators, shoddy and inaccurate paperwork, plenty of hidden fees paid to companies owned by their corporate officers (Linear Title Services). Avoid at all costs!

J
Jon L
10/27/2017
Amerisave was pretty easy to work with even though my tax returns are large. I own several properties and am an independent contractor making it even more difficult to find someone to look at me. Without hesitation they reviewed my cumbersome tax returns prior to me giving them an actual application. When they stated that even though they were challenging their experts found me to be a good loan candidate. Then they actually took my application over the phone on a Sunday. They only thing that kept me from giving them a full 5 stars is that their communication is weak. I would write and call and get no response often for days. But their rates and their skill level are great.

M
mary
6/25/2016
Don't trust Amerisave with a score of 720 they have no investors to lend, dealing with underwriters on training that don't know what they are doing,( in limbo for too long )

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