AmeriSave Mortgage Corporation Mortgage Review 2020

By Jennifer Bradley Franklin

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

AmeriSave Mortgage Corporation

NMLS: 1168

Bankrate Score

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4.6

User reviews
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( 549 )

4.8

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.

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 spread across the country, offering in-house underwriting, processing, funding and closing services. Founded in 2002, the company 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 company has funded more than $55 billion in home loans.

Nationwide availability

Available in all U.S. states except New York; also available in Washington, D.C.

Minimum credit score

620 for conventional loans; 600 for government loans

Loan types

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

Pros

  • Available in all U.S. states (except for New York) and Washington D.C.
  • Offers pre-qualification 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 pre-qualify and select from available rates
  • Offers transparent pricing and fee structure

Cons

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

Find your mortgage match

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AmeriSave Mortgage Corporation overview

Loan types

  • Conventional
  • Fixed
  • Adjustable (ARM)
  • Jumbo
  • USDA
  • FHA
  • VA
  • Cash-out refinancing
  • Rate-and-term 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 mortgage loans through AmeriSave require at least a 5 percent down payment. As with most mortgage companies, the specific loans offered are dependent on the borrower’s creditworthiness, income and other factors.

The company is committed to educating borrowers on the various loans available to them, so it’s advisable to connect with one of AmeriSave’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.

Get started with AmeriSave Mortgage Corporation

Borrowers can call 866-970-7283 or fill out an online form to be connected with a mortgage consultant. From that point forward, customers can check the status of their application through the online portal or chat with a live consultant.

Hours

Monday - Thursday: 8 a.m. - 10 p.m. EST Friday: 8 a.m. - 9 p.m. EST Saturday: 10 a.m. - 4 p.m. EST Sunday: Closed

AmeriSave Mortgage Corporation consumer rating and reviews

4.8 reviews
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98% recommended

Customer Service Rating

Knowledge
4.9
Level of service
4.9
Professionalism
4.8
Responsiveness
4.9
0 out of 0 rates honored
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(549 reviews)
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The 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.

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Showing 9 of 9 Reviews
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Jan Strasser
Tucson, Arizona

9/3/2020

Very Easy and Enjoyable Experience in Refinance

We were very appreciative of the ease in which we could refinance. George Kapustij, the Loan Originator, was easy to talk to and listened to me. He took the time to look up rules he knew about doing this process without an appraisal. My husband just had shoulder surgery, and I have ongoing issues wi...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Romer Vivas
WA

9/6/2020

Great Customer Service

My experience was excellent. Very friendly staff and great interest rates! They helped me to save a lot of money in the long-term. Also, they offered support in the process. Looking forward having them to manage my mortgage.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
4.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Damion
AZ

9/11/2020

Great rates outstanding service

Great rates and outstanding service. With the massive amounts of mortgage refinances they ran a bit late but it is understandable. Sandra was my loan agent and she was very knowledgeable and was responsive all throughout the process. She was a pleasure. I also dealt with Marco and he was also very k...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Sharon
MO

9/11/2020

Fast process during virtual refi times

A refi is not the most fun task to undertake. It is even more stressful during a pandemic when it is done virtually. Both our Loan Originator, Tessa Aubrey, and our Processer, Benjamin Law responded quickly to our many questions. I felt they listened to our concerns and strived to meet our goals. W...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Alex K
Clemmons, NC

9/15/2020

Great experience

Great communication and explanation by the originator and processor, all the way up through closing. I referred a friend and family member due to the rate I received, and the service was excellent. Thank you.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Thomas
North Carolina

8/21/2020

Slow and Unhelpful

I began a mortgage refinance in April 2020. It closed in August 2020. I live in a house that I can easily afford each month accounting for only about 20% of my monthly income. My liquid assets are also more than enough to cover any necessary expenses. The appraisal actually came back higher than was...

AmeriSave Mortgage Corporation replied to this:
"Thomas, AmeriSave Mortgage appreciates your feedback and we would be interested in speaking to you about your experience. Please contact our Customer Service Team at 888-700-4026, or via email at customerservice@amerisave.com. We look forward to speaking to you soon."
Knowledge
2.0
Level of service
1.0
Professionalism
1.0
Responsiveness
1.0
Rates honored:
Yes
Would recommend:
No
Mortgage closed:
Yes
Closed on time:
Yes
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Steve
Harpswell maine

9/4/2020

Deceptive practices

During the application process we were harried into a bad decision about rate lock. We immediately requested a rate lock the next day when we finally had sufficient time without the originator rushing us through the signing of documents. The loan originator failed to honor the rate lock request,...

AmeriSave Mortgage Corporation replied to this:
"Steve, AmeriSave Mortgage appreciates your feedback and we would be interested in speaking to you about your experience. Please contact our Customer Service Team at 888-700-4026, or via email at customerservice@amerisave.com. We look forward to speaking to you soon."
Knowledge
2.0
Level of service
1.0
Professionalism
1.0
Responsiveness
1.0
Rates honored:
No
Would recommend:
No
Mortgage closed:
No
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Scott A
Minnesota

9/8/2020

Terrible- Avoid at all costs

Hi net worth individual with credit score over 800, no other debt. Have smoothly financed 8 houses, this was the best rate with great online reviews. 11 weeks later, still being jerked around with no end in sight. If you are looking for slow, bureaucratic, inexperienced, non responsive and numero...

AmeriSave Mortgage Corporation replied to this:
"AmeriSave appreciates your feedback and we would be interested in speaking to you more about your experience. Please contact our Customer Service Team at 888-700-4026, or via email at customerservice@amerisave.com. We look forward to speaking to you soon."
Knowledge
2.0
Level of service
1.0
Professionalism
1.0
Responsiveness
1.0
Rates honored:
No
Would recommend:
No
Mortgage closed:
No
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Victor G.
Chula Vista, CA

9/14/2020

Did not lock my rate

When I applied, on 09/03/2020, Bank Rate shows the rate would have a 30 day rate lock. But instead AmeriSave did not lock it and did a float. I paid the $500 and submitted all my paperwork and instead of locking the rate they floated it. I was suppose to also get updates disclosures on 09/04/2020. I...

AmeriSave Mortgage Corporation replied to this:
"Thank you for speaking to our AmeriSave Mortgage representatives today. Our Customer Service Team is available to assist you if needed in the future, and can be reached at 888-700-4026, or via email at customerservice@amerisave.com. Thank you for reaching out to us."
Knowledge
3.0
Level of service
1.0
Professionalism
3.0
Responsiveness
1.0
Rates honored:
No
Would recommend:
No
Mortgage closed:
No