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AmeriSave Mortgage Corporation Review 2023

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At a glance

AmeriSave Mortgage Corporation

NMLS: 1168


Rating: 4.1 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity line of credit (HELOC)


Nationwide Availability

Available in all U.S. states except New York

Credit Good

Min. credit score required

620 for conventional loans; 700 for jumbo loans; 600 for FHA loans; 600 for VA loans; 600 for USDA loans

Pros and cons

Checkmark Pros

  • Offers prequalification and customized rate quote in a few minutes and without a hard credit pull (in most cases)
  • Offers transparent pricing and fee structure
  • Time to close averages 25 days

Close X Cons

  • No branch retail locations
  • 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, a direct-to-consumer mortgage lender, has approximately 1,000 licensed mortgage originators 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, and established a Third Party Origination (TPO) division to provide funding for mortgages to community banks, credit unions and mortgage brokers and bankers in 2010. In the years since its founding, the lender has funded more than $115 billion in home loans. While there is a flat $500 application fee for loans, the lender also promises to match the rate and closing costs of a competitor, or pay you $500 after you close with the other lender. Another perk: Qualified borrowers can obtain a “Ready Buy Letter” or “Pre-Certified Approval Letter,” both of which last up to 60 days. The pre-certified letter is the next best thing to a cash offer, according to the lender.

AmeriSave Mortgage Corporation is good for

Borrowers looking for a quick prequalification and educational resources

Breakdown of AmeriSave Mortgage Corporation overall score

  • Affordability: Unlike other lenders who charge an origination fee of 1 percent of the loan principal, AmeriSave Mortgage Corporation charges a cheaper flat fee.

  • Availability: AmeriSave is available to borrowers in most states, but some of its credit minimums are higher compared to those of other lenders, which might mean you won’t qualify even if you’re in a state the lender services.

  • Borrower experience: AmeriSave has earned thousands of positive reviews on third-party sites. On Bankrate, it has a 3.9 out of five stars from customers.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 3/5

AmeriSave Mortgage Corporation charges a flat $500 application fee. The lender doesn’t charge loan origination fees. It doesn’t list mortgage rates for specific loans on its website; you’ll need to fill out a form and wait for a representative to contact you to receive a quote. Requesting mortgage rate quotes won’t show up as a hard inquiry on your credit report, but submitting a loan application will. 

Availability: 5/5

AmeriSave Mortgage Corporation is available in almost every state with the exception of New York. The lender offers conventional (conforming and non-conforming), FHA, VA, USDA loans. To qualify for a conventional loan, you’ll need a minimum credit score of 620 and a down payment of at least 3 percent. For government-insured loans, you’ll need a minimum of 600, which is somewhat high.

Borrower experience: 4.2/5

AmeriSave Mortgage Corporation has been in operation for 20 years. The lender has an A+ rating from the Better Business Bureau and a 4.3 out of five stars (“Excellent”) from Trustpilot.You can apply for an AmeriSave home loan online, or start by obtaining a prequalification through the lender’s website in just a few minutes. If you have questions, you can easily connect with a loan officer through chat. The lender’s online “Knowledge Center” includes FAQs, videos and other educational resources, and as you learn more about your options, you can take advantage of its calculators, including rent versus buy and an affordability measure. The lender doesn’t have an app at this time.

For questions, you can call AmeriSave at 888-700-4026 Monday through Friday, 8 a.m. to 5 p.m. ET.

Refinancing with AmeriSave Mortgage Corporation 

AmeriSave Mortgage Corporation offers rate-and-term, cash-out and streamline refinancing, and can facilitate closings “in days, not weeks,” according to its website. You can apply for a refinance online.

Alternatives to AmeriSave Mortgage Corporation

AmeriSave Mortgage Corporation consumer reviews


NMLS: 1168


Rating: 3.9 stars out of 5

840 reviews

5 stars
4 stars
3 stars
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1 stars

About consumer ratings

Customer service rating

Rating: 4.1 stars out of 5
Level of service
Rating: 4.1 stars out of 5
Rating: 4 stars out of 5
Rating: 3.9 stars out of 5

75% of reviews would recommend this lender

5 of 10 rates honored

Review this lender

Write a review of your experience with AmeriSave Mortgage Corporation.

of 16 reviews

The consumer reviews posted on ("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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Written by

Ruben Caginalp

Associate writer

Ruben Çağınalp is an associate writer for Bankrate, focusing on mortgage topics.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor