AmeriSave Mortgage Corporation Mortgage Review 2021

By Jennifer Bradley Franklin

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

AmeriSave Mortgage Corporation

NMLS: 1168

4.5

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Loans offered

Conventional, fixed, adjustable (ARM), jumbo, USDA, FHA, VA; refinancing options include rate-and-term refinancing and cash-out refinancing
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Nationwide availability

Available in all U.S. states (except New York) and the District of Columbia
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Min. credit score required

620 for conventional loans; 580 for government loans

Pros and cons

Pros

  • Available in all U.S. states (except for New York) and Washington D.C.
  • Offers prequalification and customized rate quote in less than three minutes and without a hard credit pull (in most cases)
  • Upon applying, customers can view all rates and programs for which they prequalify and select from available rates
  • Offers transparent pricing and fee structure
  • Time to close averages 25 days

Cons

  • No formal buyer education classes in person (though does offer an online “Knowledge Center”)
  • Doesn’t offer a first-time homebuyer program

AmeriSave Mortgage Corporation overview

AmeriSave Mortgage Corporation claims to be one of the largest and fastest-growing direct-to-consumer mortgage lenders in the U.S. The digital lender has approximately 800 licensed mortgage originators, and growing, spread across the country, offering in-house underwriting, processing, funding and closing services. Founded in 2002, the lender maintains its corporate headquarters in Atlanta, Georgia. AmeriSave established a Third Party Origination (TPO) division to provide funding for mortgage loans to community banks, credit unions and mortgage brokers and bankers in 2010. In the years since its founding, the lender has funded more than $55 billion in home loans.

Loan types

  • Conventional
  • Fixed
  • Adjustable (ARM)
  • Jumbo
  • USDA
  • FHA
  • VA
  • Rate-and-term refinancing
  • Cash-out refinancing

Lender fees

AmeriSave Mortgage Corporation charges a flat $500 application fee. However, the lender does not charge loan origination fees.

Minimum borrower requirements

AmeriSave Mortgage Corporation has a variety of loan products for both new homebuyers and those who wish to refinance. For FHA loans, buyers need a minimum 3.5 percent down payment. Conventional loans through AmeriSave Mortgage Corporation require at least a 5 percent down payment. As with most mortgage lenders, the specific loans offered are dependent on the borrower’s creditworthiness, income and other factors.

The lender is committed to educating borrowers on the various loans available to them, so it’s advisable to connect with one of AmeriSave Mortgage Corporation’s licensed mortgage originators to discuss options. The lender’s website offers a “Knowledge Center” covering educational topics such as first-time homebuyer tools and more.

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AmeriSave Mortgage Corporation consumer reviews

4.4

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642 reviews

5 stars
4 stars
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505
57
6
4
70

Customer service rating

Knowledge
4.6
Level of service
4.6
Professionalism
4.5
Responsiveness
4.5

88% of reviews would recommend this lender

0 of 0 rates honored

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Write a review of your experience with AmeriSave Mortgage Corporation .

10 of 102 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Very Easy and Enjoyable Experience in Refinance

Jan Strasser | Tucson, Arizona | 9/3/2020

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Great Customer Service

Romer Vivas | WA | 9/6/2020

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Great rates outstanding service

Damion | AZ | 9/11/2020

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Fast process during virtual refi times

Sharon | MO | 9/11/2020

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Great experience

Alex K | Clemmons, NC | 9/15/2020

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Great Customer Service!

Samantha | florida | 9/18/2020

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Amerisave Good Customer Service with Great Rates

Kumar | Maryland | 9/20/2020

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Great Experience

LP Bach | Arizona | 9/21/2020

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Great Experience

Jerry S | Calif | 9/22/2020

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Great Rates and Fast Processing

jo alm | florida | 9/26/2020