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AmeriSave Mortgage Review

ByNadav ShemerSep. 07, 2020

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In a Nutshell

AmeriSave Mortgage Corporation is a full-service mortgage lender operating in 49 states and DC. Established in Atlanta in 2002, it has funded 220,000+ homes for a total value of more than $55 billion. AmeriSave is known for offering streamlined online applications with the option of contacting customer support any time you need assistance.


  • Apply and submit forms directly online
  • No SSN needed to get pre-approved rates
  • Wide range of loan options


  • No rates without filling out a quote request
  • No loans above $1.5m
  • Not licensed in New York State

AmeriSave at a Glance

Direct lender or marketplace? 


Loan types: 

Purchase, refinance

Featured loans: 

Conventional, FHA, VA and USDA mortgages

Repayment terms:

 10-30 years; 5/1, 7/1, or 10/1 ARM

Minimum Down Payment:    

20% for conventional, 0-10% for VA/FHA 
Minimum Credit Score: 620+ for most loans

Best for: 

When you need a straightforward loan application


AmeriSave is a major lender, with a variety of loan options for purchasing and refinancing. These include conventional loans, jumbo loans, and government-backed loans such as FHA, VA, and USDA loans. With each loan, you get a choice between fixed or variable rate and flexible repayment terms of 10, 15, 20, 25, or 30 years. Interest rates are competitive, and AmeriSave offers a range of calculators and tools to help you make an informed borrowing choice.

Best For?

This lender is best for straightforward applications. If you have all your paperwork in order and know where you’re buying/refinancing, then AmeriSave an help you get this done quickly. However, if you have any doubts over your purchase/refinance, there is a risk, because of the $500 cancellation fee reported by some applicants.

Types of Loans/Products

America offers a strong selection of loans for purchase and refinance. While its menu isn’t quite as extensive the biggest lenders, it does offer all the most common types of loans – most of them with competitive starting APRs.

Here’s the full breakdown of purchase options:

  • Conforming loans with minimum 20% down payment
  • Jumbo loan, with loan amounts as high as $1.5 million
  • FHA, VA, and USDA loans, according to the usual rules

And here are the refinance options: 

  • Conventional rate-and-term refinance
  • Cash-out refinance

The Application Process

Potential borrowers can start the application via AmeriSave’s website, or over the phone or live chat with a licensed loan originator. The great thing about the AmeriSave service is it serves prospective home buyers too. You can apply based on what you’re looking for; you don’t have to have found a home yet to apply.

To begin the process online, you’ll need to fill out a short application form that takes about 3-5 minutes to complete. This includes details about yourself, where you live, what type of home you are purchasing/refinancing, type of property, and identifying details such as social security number.

If you apply online AmeriSave will run a hard credit query before pre-approval. However, you always have the option of speaking directly with a licensed loan originator and having them run a soft credit query to determine your eligibility.

After receiving your pre-approved rate, you can go ahead and complete the rest of the process online. AmeriSave offers the option of securely uploading your documents to the portal and even e-signing them to expedite the process.

Rates and Terms

With AmeriSave you get to choose between five different repayment terms: 10, 15, 20, 25, or 30 years. You can take a fixed-rate mortgage or an ARM with 5/1, 7/1 or 10/1 options. One downside to AmeriSave’s service is that it doesn’t advertise rates. To see your rate, you’ll need to go through the whole pre-approval process described above. Generally speaking, AmeriSave’s interest rates are higher than average. However, it charges less on origination and other closing costs, so its APRs are competitive overall. 

Help & Support

To get in touch with AmeriSave, simply call or start a live chat online with a licensed loan originator. The company’s call centers are available toll-free Monday through Friday between 8:00 am and 5:00 pm ET. The company can handle the whole application and approval process by phone, and many customers do prefer this option. The support staff are well trained and able to answer our questions promptly and effectively. However, email responses can take between one and two business days. Customers can also find answers directly on AmeriSave’s website, which features an informative FAQ section.


Thanks to a fully in-house process and a variety of loan options, AmeriSave is a good choice for customers seeking a mortgage. The company offers both traditional mortgages and several government-backed loan options. More importantly, its variety of loan repayment terms give borrowers flexibility to find the right choice for their impending home purchase or home refinance. A straightforward application process also helps customers close on their homes more quickly.


What is AmeriSave Advantage? In 2016, AmeriSave launched its real estate assistance and rewards program, AmeriSave Advantage. This program helps customers access a network of local real estate agents. After the transaction is complete, the customer may receive cash back of up to around 0.5% on the sale price, e.g. $1,300 off a $300,000 home purchase.

Does AmeriSave offer local expertise? According to AmeriSave, it employs 500+ mortgage experts around the country. It has a presence in every state expect New York, where it isn’t licensed to do business.

Does AmeriSave really not charge loan origination fees? Correct. However, its interest rates are slightly above average, so the end result is that its APRs are competitive but not world-beating. Note that it does charge other common closing fees, including those mandated by law for government-backed loans.

Physical Address

AmeriSave Mortgage Corporation

3525 Piedmont Rd NE

8 Piedmont Center, Suite 600

Atlanta, GA 30305

AmeriSave Mortgage AmeriSave Mortgage Visit AmeriSave Mortgage

AmeriSave Mortgage customer testimonials

GreatReviews 2,788
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  • author
    16 hours ago
    Austin Cohen was great

    Austin Cohen was great. Very friendly and works. The process went smooth from beginning to the end.


  • author
    Michael Soper
    10 hours ago
    BEWARE: I regret ever crossing paths.

    I regret ever crossing paths with this company. The loan officer was pushy from the beginning and then lied to us about several details of our refinance. He attempted to convince us to take a higher loan amount and get cash back, that then pushed us over 80% LTV and would require us to pay for mortgage insurance. When I confronted him with that, since one of my main goals from the beginning was to be rid of mortgage insurance, he advised that we would have to delay closing to fix the loan amounts, or I could take the money and apply it to my first payment and the mortgage insurance would automatically cancel off. I specifically addressed with him that a clause in my current mortgage made me pay mortgage insurance for a minimum of two years regardless if I dropped below 80% LTV sooner. “NO,” he says. “It’s not that way with our loans.” So I get all the way to having the notary in my house at my dinner table when I read the contract. And there it was, minimum of two years of mortgage insurance regardless of paying down early. Of course I declined the loan. To rub salt in the wound, AmeriSave is declining to refund my $500 application fee. What a rip of a company!


  • author
    17 hours ago
    Overall good service

    Overall good service. Closing cost make sure tell you itemize costs what is included. Over the phone agent have provide me amount and when i received closing cost document show different amount. Talked to agent manager he have corrected based on phone conversation.


  • author
    JOHN A.
    17 hours ago
    Good but could have been much better

    Good but could have been much better Initial contact, communication and speed was great but I felt like after we gave the $500 deposit, quality dropped off. Our "loan originator" Greg was great throughout, for the most part. He was very personable and approachable, communicated well and promptly for all except a few times towards the end of dealing with him. Our "loan processor" was less personable and consistently took a longer time to respond to any phone calls/voice messages or emails for questions we had. Some of the not so great experience comes from AmeriSave's processes. One example was when she initially called to introduce herself, she expected me to give sensitive information to her, when I didn't know who she was. So I asked her to email me with her info so I could verify that she was from AmeriSave and call her back but I never got an email. Then she called me a few days later like it was the first time, asking for my personal info again. Luckily, I had logged on to the portal myself and noticed that her name & number was in there as our loan processor. So we were able to continue. Another example was when there were changes to be made on AmeriSave's side, it took a really long time. Overall it was a "good" experience but not a "great" experience.


  • author
    Kate M
    17 hours ago
    Timelines are horrific

    Timelines are horrific! I'm on my 85th day and I still don't have a closing date scheduled for my refinance. 800+ credit score and over 50% equity in the residence that I am refinancing, it's insane. The people that I am working with are friendly and will listen but I'm just not sure what is happening once I hang up the phone.


AmeriSave Mortgage