You probably want to make sure you’re choosing a trustworthy company and not getting locked into a bad deal that’ll haunt you for 30 years. That’s why I decided to dig deep into what Amerisave Mortgage is all about. In this guide, I’ll break it all down for you: who they are, what types of loans they offer, how their online application works, what rates and fees you can expect, and even what real customers are saying.
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Understanding Amerisave Mortgage
The history and background of Amerisave
Amerisave Mortgage didn’t just pop up yesterday. In fact, they’ve been around since 2002. That’s over two decades of writing home loans, which is kind of reassuring in an industry where new online lenders seem to appear and vanish overnight. Amerisave is headquartered in Atlanta, Georgia, but they’re licensed to do business in almost every state across the U.S.
Their whole mission is to make mortgages easier through technology. They were one of the first companies to really push the idea of getting a mortgage quote online without a ton of paperwork or having to walk into a stuffy bank. It might not seem like a big deal now, but back in the early 2000s, that was pretty cutting edge.
Plus, Amerisave Mortgage isn’t tied to one type of loan. They’re what you’d call a direct mortgage lender, which means they use their own money to fund loans instead of brokering them out to different banks. That often translates into more control over the process and potentially faster closings.
If you’re wondering about regulation, don’t worry. Amerisave is subject to strict federal and state lending laws. They’re also accredited by the Better Business Bureau (BBB), where they’ve had thousands of reviews over the years.
Amerisave Mortgage is an established player with a long track record. They’re not some fly-by-night internet startup, and that gave me a bit more peace of mind before looking into them deeper.
What makes Amerisave stand out?
Alright, so lots of lenders promise low rates, fast approvals, and hassle-free service. What actually makes Amerisave Mortgage stand out from the rest of the crowd? For me, it came down to three big things: tech, transparency, and variety.
First off, their technology is pretty slick. You can jump on their website and get a personalized rate quote in literally three minutes. It doesn’t ding your credit either. All you have to do is plug in some basic info like your income, the home price, and how much you plan to put down and bam, they’ll show you customized loan options.
Second is transparency. No surprises. It’s not your final offer (they still need to verify all your paperwork), but it’s a pretty darn good starting point.
Third, they offer a wide range of loans: conventional, jumbo, FHA, VA, USDA you name it. That matters because not every lender does. For example, some online lenders don’t touch government-backed loans, which can be critical if you’re a first-time buyer or a veteran looking for special programs.
Also, Amerisave seems to put a huge focus on customer choice. Want to lock your rate immediately? Cool. Want to compare a 15-year vs. 30-year side by side? Easy. Want to pay points upfront to lower your rate? They’ll walk you through that. I’m a big fan of options, and Amerisave gives you plenty.
So, if you’re someone who hates high-pressure sales calls or being in the dark, that’s one of the reasons Amerisave might stand out to you, too.
Types of Loans Amerisave Offers
Fixed-rate mortgages
A fixed-rate mortgage is exactly what it sounds like: your interest rate stays the same for the entire life of the loan. Most people go for either a 30-year or 15-year fixed mortgage. With Amerisave Mortgage, they offer both — plus some other terms if you want something in between.
Why does that matter? Because predictability is your best friend when you’re planning your budget. Your payment next year, five years from now, and in the last year of your loan will be exactly the same. That’s a huge relief when you think about how rent prices keep skyrocketing.
Amerisave’s site makes it super simple to compare fixed-rate options. You can see how much more you’d pay each month on a 15-year loan (but save tons in interest) vs. the lower payments stretched over 30 years. If you’re the type who likes to pay things off fast, the 15-year might be your jam. If you want more cash flow for vacations or renovations, the 30-year is usually easier on the wallet.
Adjustable-rate mortgages (ARMs)
Now, if you’re feeling a bit more adventurous (or you know you won’t be in the house long), an adjustable-rate mortgage, or ARM, might be worth looking at. Amerisave Mortgage offers several ARM options, like 5/1 or 7/1 ARMs. That means your rate is fixed for the first 5 or 7 years, then adjusts annually after that based on market rates.
Why would you ever want that uncertainty? Simple: initial ARM rates are usually way lower than fixed rates. If you’re planning to sell or refinance within that initial period, you could save thousands.
Amerisave’s loan officers are pretty good at explaining these risks. Just make sure you run the numbers to see what payments could look like later. No one wants a surprise jump that blows up their budget.
FHA, VA, and USDA loans
One thing that impressed me is how Amerisave Mortgage isn’t just for conventional buyers with 20% down. They do a ton of government-backed loans:
FHA loans
These are great for first-time buyers. You can put as little as 3.5% down, and credit score requirements are more forgiving. Amerisave guides you through the whole FHA process, which can feel complicated otherwise.
VA loans
If you’re a veteran or active military, Amerisave offers VA loans with zero down payment and no private mortgage insurance (PMI). That’s a huge money-saver. They’ll help you get your Certificate of Eligibility and handle all the VA paperwork.
USDA loans
Buying in a rural area? Amerisave has USDA loans too, which means no down payment required in many cases. They’ll check your property eligibility for you.
Having these options is a big deal. Not every lender does all three, and it means Amerisave can serve way more buyers in all kinds of situations.
Jumbo loans
Finally, if you’re buying a high-priced home that goes over the conforming loan limits (which vary by state), you’ll need what’s called a jumbo loan. Amerisave handles these too. Jumbo loans typically have stricter requirements like needing a higher credit score and more documentation but Amerisave’s online process makes it less painful.
Whether it’s your dream house in the suburbs or a slick condo downtown, Amerisave’s jumbo products let you borrow larger amounts without splitting it into multiple loans.
Amerisave’s Online Mortgage Experience
How does Amerisave’s online application work?
This is where Amerisave Mortgage really shines. Honestly, the whole point of using a lender like this is to avoid the painful paper stacks and endless bank visits. Their online platform is sleek and designed for normal people not mortgage nerds.
It starts with a short prequalification form. You’ll enter stuff like your estimated income, the type of home you want, and your credit range. Within minutes, you’ll see tailored loan offers. This is a soft credit pull, so your score stays untouched.
Once you decide to move forward, you’ll upload documents right to your secure online portal. Pay stubs, W-2s, bank statements all easy to drag and drop. No faxing needed (who even owns a fax machine anymore?).
Amerisave also lets you track your loan progress in real time. You can see when it’s in underwriting, when the appraisal comes back, and when your closing is scheduled. They’ll email and text you updates, so you’re never left wondering what’s going on.
Tools & calculators on the Amerisave website
One of the favorite parts of Amerisave’s website is their toolbox of calculators and educational guides. They have tools to estimate:
- How much house you can afford
- What your monthly payment might look like
- How paying points could lower your rate
- Even whether refinancing would save you money
Their resources section also breaks down complicated topics like PMI, closing costs, and credit scores in plain English.
Amerisave’s Rates & Fees Explained
How competitive are Amerisave’s rates?
When it comes down to it, most of us shop lenders for one big reason: to get the best rate. Amerisave Mortgage is usually pretty competitive. They post sample rates on their site daily, so you can see roughly where things stand even before applying.
Now, your personal rate depends on your credit score, down payment, loan type, and whether you choose to pay points. But when I compared Amerisave to big banks and some other online lenders, their rates often came out slightly lower.
It’s important to do an apples-to-apples comparison though. Look at the APR, not just the rate because APR includes estimated fees. Speaking of which…
Hidden fees and what you should watch out for
Amerisave does charge an upfront application fee, often around $500, which can be non-refundable. That threw me off at first. But it’s not uncommon in the industry many lenders collect this to lock your rate and start processing.
Other than that, typical closing costs (title insurance, appraisal, etc.) will still apply, no matter who you use. Amerisave breaks these out in your Loan Estimate, so be sure to read every line. If something looks weird, ask! They’re pretty responsive about explaining each charge.
Who is Amerisave Mortgage Best For?
First-time buyers
Honestly, if you’re buying your very first place, the whole process can feel like learning a new language. Escrow, PMI, points, underwriting it’s overwhelming. This is where I think Amerisave Mortgage shines for first-timers.
Why? Because they guide you through it step by step, and the online tools let you play around with scenarios without any pressure. You can see what happens if you put 5% down vs. 10%, or how your payments change with different interest rates. That’s powerful info for someone who’s never done this before.
Plus, Amerisave offers FHA loans, which allow for lower down payments and more flexible credit requirements. That’s huge if you haven’t had decades to build stellar credit or a massive savings account. And their loan officers don’t seem pushy they’re there to help you figure out what works best.
Refinancers and repeat buyers
If you’re already a homeowner, refinancing is one of the best ways to save money over time whether that’s to drop your rate, ditch PMI, or pull cash out for renovations. Amerisave does a ton of refis. In fact, some reviewers said they had an easier time refinancing through Amerisave than through their original lender.
Their online system makes submitting updated financials (pay stubs, tax returns) pretty painless. And since they’re known for relatively fast closings, it’s a good fit if you want to take advantage of dropping interest rates without waiting months.
Investors & high-value buyers
If you’re looking at properties that break the standard loan limits think luxury homes or multi-units Amerisave Mortgage offers jumbo loans that can handle it. Not every online lender wants to deal with jumbo loans because they’re riskier and require more underwriting scrutiny.
Amerisave’s team seems comfortable handling complex income scenarios, too. I’ve seen folks who are self-employed or who have multiple streams of income go with Amerisave because they understand how to document everything properly. That can be a game changer when other banks give you the side-eye for not having a simple W-2.
Does Amerisave Have a Branch in Arizona?
Amerisave is licensed to do business in Arizona (and almost every other state), but they don’t typically operate brick-and-mortar branches.
Most of Amerisave’s lending is done online or over the phone, regardless of where you live. They have corporate offices, but they’re not set up like a traditional local bank where you can drop by and sit in a branch manager’s office.
So if you’re in Arizona or pretty much anywhere else you can absolutely get a mortgage through Amerisave Mortgage. You’ll just be handling everything digitally or through phone consultations. They do have loan officers assigned to each borrower, so you’re not alone. You’ll have a dedicated person to call or email.
How Does Amerisave Mortgage Work?
If you’ve ever used TurboTax to file your taxes online, Amerisave’s mortgage process feels pretty similar. Everything is designed to walk you through step by step.
First, you fill out a short prequalification form on their website. You’ll put in things like your income, estimated credit, the price range of homes you’re shopping for, and how much you want to put down. In about 3 minutes, Amerisave shows you personalized loan options. This is a soft pull, so your credit score stays safe.
Next, when you decide to officially apply, they’ll do a full credit check. You’ll upload documents like W-2s, pay stubs, and bank statements to their secure portal. It’s drag-and-drop easyno mailing stacks of paper.
Then underwriting kicks in. This is where Amerisave’s team verifies all your info and checks things like the property appraisal. If they need more documents (and they often do), they’ll ask. You can track all of this online in real time.
Finally, once everything clears, they’ll schedule your closing usually at a local title office or even with a mobile notary who comes to you. You’ll sign the final papers, wire any down payment money, and get the keys to your new place.
Throughout it all, Amerisave’s system keeps you updated by email or text, plus you can always log in to see exactly where you’re at. That transparency is one of the biggest reasons I liked working with them.
Amerisave Mortgage for Self-Employed Buyers
A quick note if you’re self-employed or a freelancer like me: getting a mortgage can be trickier when you don’t have neat W-2 paychecks. Many lenders look at you like you’re radioactive because your income fluctuates.
Amerisave Mortgage is actually pretty savvy with self-employed borrowers. They know how to handle tax returns with business expenses, and they’re familiar with writing letters of explanation for non-standard income. They’ll typically average your income over the last two years to see what you qualify for.
You’ll still want to have all your ducks in a row: at least two years of solid tax returns, a decent amount of savings, and a clean credit history. But compared to some old-school banks that act like entrepreneurs are a huge risk, Amerisave seems more modern and flexible.
FAQs About Amerisave Mortgage
Is Amerisave a good lender?
From everything I’ve seen including my own experience and hundreds of reviews Amerisave is generally a good lender. They’ve been around for over two decades, fund their own loans, and offer competitive rates. Most people praise their fast, tech-driven process. Just keep an eye on that application fee and make sure you’re ready to provide documents quickly to avoid any last-minute delays.
Does Amerisave have a branch in Arizona?
Not exactly. Amerisave is licensed to operate in Arizona (as well as nearly every other state), but they don’t typically run physical retail branches. Most of their business is done online or over the phone. If you’re in Arizona, you can absolutely still get a loan with them you’ll just be handling it all digitally, with a dedicated loan officer guiding you.
Is Amerisave a good choice for a first-time buyer?
I’d say yes, absolutely. In fact, first-time buyers are one of Amerisave’s sweet spots. They offer FHA loans that require smaller down payments and are easier on credit scores. Their online system also helps you run different scenarios to see exactly what your monthly payments might look like, which is super helpful when you’re new to all this.
Is Amerisave a good company?
Overall, yes. Amerisave has funded billions of dollars in mortgages, is accredited by the Better Business Bureau, and maintains generally positive customer ratings. Like any lender, they have some complaints (usually about extra document requests or delays), but they’re certainly not a fly-by-night operation. They’re well-established, financially stable, and heavily regulated, which should give you confidence.
How does Amerisave work?
It’s refreshingly simple. You start by filling out a quick online prequalification form, which gives you personalized rate options with no impact on your credit. Then you upload your documents to a secure online portal, and their underwriting team reviews everything. You can track your loan progress online 24/7. Once you’re cleared to close, you’ll sign the final paperwork (often with a mobile notary), wire your funds, and boom you’re a homeowner.
Can I get prequalified with Amerisave without hurting my credit?
Yes. Their initial prequalification uses a soft credit pull, so it won’t impact your score. Only when you decide to formally apply will they do a hard inquiry.
How fast can Amerisave close a loan?
Many borrowers report closing in about 25-35 days. However, it can be faster or slower depending on how quickly you upload documents and how smoothly the appraisal and title work goes.
Does Amerisave service its own loans?
Sometimes. Like many lenders, they may keep your loan or sell it to a larger mortgage servicer. Either way, the terms of your loan don’t change.
Is Amerisave good for refinancing?
Yes, they do a ton of refinances and often advertise very low rates. Their online portal makes uploading updated income or asset docs a breeze.
What credit score do I need for Amerisave?
It depends on the loan. For conventional, you’ll generally want at least a 620, while FHA might go lower. For the best rates, aim for 740+.
Conclusion
Amerisave Mortgage is a pretty solid choice if you want a straightforward, mostly online mortgage process that gives you competitive rates and tons of options.