AmeriSave Mortgage Corporation

AmeriSave Mortgage Corporation Mortgage Reviews & Ratings

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.

NMLS: 1168

Bankrate Score

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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.

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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

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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.

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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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97% recommended

Customer Service Rating

0 out of 0 rates honored