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AmeriSave In-Depth Review
In a nutshell: AmeriSave Mortgage Corporation provides flexible mortgage loans in 49 states plus Washington DC. The application process is smooth and easy, allowing anyone with a credit score of 600+ to apply for a mortgage online. AmeriSave's team of over 500 mortgage specialists provide a personal touch, guiding you through every step of the process.
AmeriSave In-Depth Review
In a nutshell: AmeriSave Mortgage Corporation provides flexible mortgage loans in 49 states plus Washington DC. The application process is smooth and easy, allowing anyone with a credit score of 600+ to apply for a mortgage online. AmeriSave's team of over 500 mortgage specialists provide a personal touch, guiding you through every step of the process.
AmeriSave In-Depth Review


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.

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  • Range of loans
  • Easy online application
  • Helpful support & resources
  • No loans for manufactured homes
  • No home equity or HELOC loans
Mortgage Loans FAQs
Looking to purchase a home or refinance an existing mortgage? Online mortgage loans allow you to receive multiple offers and find a loan that suits your needs. Before starting a mortgage or refinancing an existing loan, it's important you understand the mortgage loan process. To get you started, we've answered some of the most commonly asked questions about mortgage loans below.
How do mortgage loan services work?
Many of the top mortgage loan companies function as a middleman between the borrower and lender. As an applicant, you are asked to fill out basic information on the mortgage company's website, then the service will show you what options and rates are available to you. Lenders will make an offer as to how much money they can loan and the repayment conditions.
What kind of information do I need to provide to apply for a mortgage?
As a mortgage applicant, you can fill out basic information on the mortgage company's website. This includes the type of home you plan on purchasing, the location of the home, and details about your current financial situation and anticipated down payment. Some mortgage companies will ask for your Social Security number in order to accurately provide you with personalized rates. The mortgage service will then offer you several mortgage loan options or connect you with a representative over the phone.
Can I refinance an existing mortgage loan?
There are many reasons to refinance and replace an existing mortgage. Many people refinance their mortgages in order to reduce monthly payments, switch from an adjustable-rate to a fixed-rate, or to pay off their mortgage early. Others refinance in order to access cash to pay off other high-interest loans such as car loans and credit card loans. Virtually all online mortgage services offer mortgage refinance options, allowing you to view and compare refinance rates. Be sure to carefully consider your refinance options as it may mean using your home as collateral.
What is APR?
The APR (annual percentage rate) refers to the annualized interest rate charged on your mortgage. Typical APRs range from about 3% to 5% and are very dependent on the amount, length, and eligibility of your mortgage. The APR will also fluctuate depending on the type of mortgage you choose. Lenders may offer you fixed-rate mortgages, two-step mortgages, balloon mortgages, and more.
How much time do I have to repay the loan?
Your repayment agreement depends on the terms negotiated between you and the lender. Mortgage companies such as Quicken Loans, for example, offer 15 and 30-year fixed rates, while other lenders such as J.G. Wentworth offer other options such as 20-year mortgages. Representative Example: If you bought a home for $500,000 with a 25% down payment, at an APR of 3.5% and a 15-year fixed term, you would pay around $2,700 per month.
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