Overview

AmeriSave has a broad range of mortgage options including both government and traditional loans, making it one of the most flexible companies in the mortgage market. Customers can choose from a variety of terms and rates for refinancing or purchasing a home. Loans include government programs such as FHA, VA, USDA, and HARP loans as well as conventional loans.

Employing hundreds of mortgage specialists, AmeriSave makes a great choice for people seeking a full-service mortgage lender. AmeriSave can originate and underwrite mortgages making their service especially straightforward for prospective borrowers.

Eligibility & Process

Unlike many other mortgage companies that do not offer their services nationwide, AmeriSave offers loans in 49 states plus in Washington DC. Depending on the loan, AmeriSave has a minimum credit requirement of 580, a slightly lower minimum than other mortgage lenders. Applicants may need a higher credit score for certain types of loans.

AmeriSave has a flexible and easy application process. Prior to applying, prospective borrowers can get an idea of their mortgage rate by using the calculator on the AmeriSave website before beginning the application. Customers can select their preferred rate and terms from a variety of choices and apply prior to finding a property or after.

Whether looking to refinance or purchase a new property, applicants can conveniently download the forms and send in documents online or handle everything over the phone. AmeriSave will then finish up the process to close the loan.

Fees & Rates

With AmeriSave, borrowers have plenty of loan options with competitive rates and flexible terms alongside both fixed and adjustable-rate options. AmeriSave allows potential borrowers to choose the right rates and terms for their budget. Their mortgage specialists work with customers to make sure they have all the information they need to make an informed decision.

AmeriSave offers both refinancing and purchase loans with different down-payment requirements. Applicants can choose from Federal Housing Administration (FHA) loans with lower down-payment requirements. Meanwhile, Veteran’s Administration loans do not require any down payment and have similar interest rates as FHA loans. Other available loans include USDA on rural properties, HARP loans for refinancing, jumbo loans, and traditional loans.

Payment Terms

Prior to applying and committing to a loan, potential customers can explore loan terms with AmeriSave’s wide range of online resources including calculators, graphs, blog posts, articles, and FAQs. AmeriSave has both fixed-rate and adjustable-rate loans available with different repayment periods. Both home purchase and refinancing loans have 15, 20, and 30-year repayment plans. Customers can extend adjustable-rate mortgages in 3/1, 5/1, and 7/1 varieties. These loans usually have lower introductory rates than fixed-rate mortgages.

Customer Support

Because AmeriSave has over 500 employees, applicants work directly with a mortgage pro throughout the process. Their highly-attentive staff helps borrowers throughout every step of the process. Plus, the AmeriSave website has a breadth of resources for customers including mortgage calculators, graphs, quotes, blog articles, and an FAQ to help borrowers make an informed decision when selecting a loan. AmeriSave also hosts social media pages on Facebook, Twitter, and LinkedIn. Customers can get in touch with the company directly by phone and live chat.