AmeriSave Mortgage Review

About AmeriSave Mortgage Corporation

AmeriSave Mortgage Corporation

AmeriSave Mortgage Corporation has been at the forefront of digital mortgages since 2002. By providing diverse loan products, low rates and authentic, transparent communication, borrowers can count on AmeriSave for all of their home financing needs. Read the reviews and see for yourself why AmeriSave is one of LendingTree’s “Top 10” rated lenders!

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Interest Rates
Fees & Closing Cost
Customer Service

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Working with AmeriSave Mortgage

AmeriSave does not have physical branch locations accessible to future homebuyers. Instead, customers must apply for mortgage loans online, but have the option to get in touch with the company by phone or electronically.

If an applicant has questions, customer service by phone is available Monday through Friday. They can also contact an AmeriSave representative by email, online chat or postal mail.

AmeriSave puts mortgage applications through a combination of an automated and manual underwriting process, meaning a human underwriter reviews the documentation and whether borrowers meet the requirements for different mortgage products.

To be eligible for a conventional loan offered by AmeriSave, buyers need to have a minimum credit score of 620. For government-backed loans like an FHA loan, a credit score of 580 can be accepted.

AmeriSave Mortgage products



Home equity

The mortgage application process

Here is an overview of the AmeriSave Mortgage Corporation mortgage application process.

How to apply: AmeriSave’s mortgage process is strictly digital. Buyers begin the application process by creating an AmeriSave account on the company’s website and filling out the online loan application. They are asked to enter their contact information as well as information regarding their income and assets. This allows AmeriSave to prequalify the applicant for a loan and receive a potential loan offer. After reviewing their offer, the potential customer can choose to move forward with AmeriSave as their mortgage lender. Customers will then lock in their mortgage interest rate by providing a credit card, which will be used to cover the cost of an appraisal, which is nonrefundable if and when the appraisal process has begun.
Disclosure process: Documentation, such as W-2s and tax returns, is submitted to AmeriSave via the company’s online portal. Depending on the circumstances, AmeriSave is able to collect certain information directly from the source. For example, AmeriSave may be able to contact a buyer’s employer to obtain copies of their pay stubs. Once preapproved for a loan, the buyer will be considered a “Ready Buyer” and will have 45 days to find a new home. If not, they will have to renew their Ready Buyer status by updating the information they previously submitted. However, if borrowers have signed up for AccountChek, which links their financial accounts to their application, certain financial information will not need to be updated because it can be accessed by AmeriSave’s system.
Submission for loan approval: Once a homebuyer has been preapproved and found the home they wish to buy, they can submit their application to underwriting. At this stage, the buyer’s application and documentation will be thoroughly reviewed to determine the final loan offer and approve them for funding.
Final approval: A home appraisal is necessary to approve a loan application. An appraiser, who will be selected by the appraisal management company hired by AmeriSave, will contact the buyer to schedule the appraisal. Their goal is to determine the value of the home and whether not it is eligible for financing. Depending on the results of the appraisal, the loan can be approved.
Close: Once approved for the loan, buyers can finally close. During closing, a meeting scheduled by their loan originator and processor, they can expect to pay closing costs, which will include appraisal fees, taxes, insurance and more. AmeriSave has been known to have customers close in as little as 10 days and at the most 60 days, but this length of time for close varies.

Communication during the process

Homebuyers who have chosen AmeriSave as their mortgage lender will have one point of contact throughout the process. If there are questions, a customer’s loan originator, who will act as their primary contact, and a loan processor, who will assist with processing the loan, will be able to answer them. Communication with the loan originator, loan processor and AmeriSave customer service can occur by phone, email and the chat feature available on the website.

Pros and cons of an AmeriSave Mortgage loan


  • Transparent pricing and rates: To ensure borrowers understand the cost of their mortgage before applying, AmeriSave’s website provides access to a list of fees associated with mortgages and their current rates on offer.
  • Fast closing: Due to AmeriSave’s automated process, buyers are able to close quickly, sometimes in as little as 10 days.
  • Rate match: If buyers find a better rate at a different lender within four business days of prequalifying for an AmeriSave mortgage, AmeriSave will match that rate or pay the buyer $500.
  • Rate Watch: This allows potential buyers to plug in their name, phone number, email address and current rate, and then receive alerts when mortgage rates decrease.


  • Lack of physical branch locations: Although AmeriSave is licensed in 49 states, there are no physical branch locations that customers can visit in person when they want to apply for a mortgage loan.
  • Limited mortgage product availability in certain states: Mortgage product availability varies from state to state, so not all borrowers will have access to the same products.

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.