AmeriSave Review for 2024

AmeriSave offers competitive mortgage rates for home purchase and refinance loans. Find out if AmeriSave is the right lender for you.

Lending flexibility4.7
Customer service4.8
Ease of application5.0
Online experience4.3
Our Score
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Conventional mortgages
Jumbo mortgages
FHA, VA, and USDA mortgages

Best Features

  • Competitive mortgage rates on average
  • Closing date guarantee and no rate lock fee
  • Variety of loan products


  • No home equity loans, HELOCs, construction loans or manufactured home loans
  • Not available in New York


The Mortgage Reports may be compensated by some of the mortgage lenders we review. However, this does not affect our review process or the ratings lenders receive. All reviews are created independently by our editorial team. We review products and services from partner lenders as well as lenders we do not work with.

Founded in 2002, AmeriSave Mortgage Corporation is a direct lender that has funded billions in purchase and refinance loans.

The company aims to make the loan process simple and hassle-free with transparent pricing and a user-friendly online application.

AmeriSave has a full range of affordable mortgage solutions and a good reputation among its customers.

Whether you’re looking to purchase a home, get a lower mortgage rate, or cash out your home equity, AmeriSave may be worth a look. 

AmeriSave mortgage rates

In 2021, AmeriSave’s average 30-year mortgage rates were lower than some major lenders. Along with lower interest rates, its average loan origination fees and closing costs were about average compared to those charged by major mortgage companies.

Of course, rates and fees vary by customer. But a lender with competitive mortgage rates on average is a good place to start your search.

Average mortgage rates at major lenders

AmeriSaveRocket MortgageWells FargoFreedom Mortgage
Avg 30-Yr Interest Rate, 202112.90%3.00%3.14%2.66%
Median Total Loan Costs, 20211$4,087$4,670$3,600$3,880
Median Origination Fee, 20211$1,952$2,430$1,330$0

Average rate and fee data were sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

When buying a new home, it’s important to compare rates and fees with multiple lenders to ensure you receive the best deal. Quotes are free. Ideally, you should request customized rate quotes from at least three lenders before making a decision. A low mortgage rate not only decreases your monthly payment, but also has a big impact on your total cost over the life of the loan.

Find your lowest mortgage rate. Start here

AmeriSave Mortgage review for 2024

AmeriSave Mortgage strives to offer its customers lower rates and fees, and to provide a transparent mortgage experience.

Before starting the loan application process you can visit the lender’s website and click the “Home Purchase” or “Refinance” link to receive up-to-date rate information. Keep in mind that rate samples are based on 15-year and 30-year fixed-rate mortgages. Your own customized rate will likely be higher or lower than advertised depending on the strength of your mortgage application. The higher your credit score and down payment, the lower your rate will typically be.

AmeriSave also has a variety of mortgage products. These include government-backed loans (FHA, VA, and USDA) as well as low-down-payment solutions. You can choose between adjustable and fixed-rate mortgages with loan terms that work for you.

But unfortunately, if you’re looking for a home equity loan or a home equity line of credit, this lender doesn’t offer them. In addition, AmeriSave won’t be able to help if you need a construction loan or you’re purchasing a manufactured home.

However, for other more mainstream home loans, this mortgage company is likely worth a look.

Working with AmeriSave

Headquartered in Atlanta, Georgia, AmeriSave is licensed in 49 states and Washington D.C. Unfortunately, it isn’t licensed in New York.

You can search rates, choose your mortgage type, and submit a loan application all online, then close at a time and location that’s convenient for you.


For a home purchase or refinance, start by getting prequalified through AmeriSave’s website. Fortunately, prequalification does not involve a hard credit pull. So the lender won’t pull your credit report, and your score will not be negatively impacted.

Loan application process

You’ll need to provide basic personal and financial information for your loan application, such as details about your income and assets. Next, you’ll review available mortgage rates. If you decide to proceed, you’ll submit an online application and authorize a credit check.

AmeriSave also has an online portal where you can safely upload paperwork like your recent paycheck stubs, W2s, tax returns, bank account statements, and other documents requested by your loan officer.

After underwriting, the lender will schedule a closing date. Depending on your location, there’s the option to e-sign loan documents or schedule an in-person closing.

Rate Lock and Shop guarantee

Amerisave’s Lock and Shop program will lock your rate for up to 90 days at no cost to you. What’s more, the lender will back up its home buying process with its Certified Closing Promise. According to Amerisave’s website, “If your loan doesn’t close through no fault of your own, we pay you $1,500.”

AmeriSave customer service reviews

Overall, AmeriSave receives mostly positive reviews from its customers. The lender received only 402 complaints with the Consumer Financial Protection Bureau (CFPB) in 2021, which was less than one complaint per 1,000 mortgages.

Out of more than 10,000 customer reviews, AmeriSave also has a rating of 4.3 on Trustpilot. Most customers praised the company for its transparency, excellent customer service, and low rates. Many were impressed by the speed of closing, too, with some customers closing within 14 to 25 days.

Customer service reviews at major lenders

CFPB Complaints, 20214Complaints Per 1,000 Mortgages, 20215J.D. Power Satisfaction Score, 20216
Rocket Mortgage3760.24876/1,000
Wells Fargo4880.58832/1,000
Freedom Mortgage2620.35829/1,000

As far as complaints, a small percentage of customers experienced poor communication and slow response times. Although Amerisave Mortgage ranked below the national average for customer satisfaction by J.D. Power, it is accredited with an A+ rating by the Better Business Bureau (BBB).

Mortgage loan products at AmeriSave

Even though AmeriSave doesn’t have home equity loans, manufactured home loans, or construction loans, it does offer all the standard mortgage options you’d expect. These include:

  • Conventional loans: Loan types that conform to guidelines set by Fannie Mae and Freddie Mac. Many first-time home buyers can qualify with flexible down payment and credit score requirements. Keep in mind that when putting less than 20% down on a conventional loan, you typically pay private mortgage insurance (PMI) until you reach 20% home equity
  • Jumbo loans: Jumbo loans are for high-priced real estate, allowing loan amounts above local conforming loan limits. In most areas of the U.S., loan limits are currently capped at $ for a single-family home
  • FHA loans: These low-down-payment government loans are insured by the Federal Housing Administration. FHA loans require a minimum down payment of 3.5% and allow credit scores as low as 580
  • VA loans: If you are an active-duty military member, veteran, Reservist, National Guard member, or an eligible spouse, you might qualify for a VA loan. You could get approved with no down payment, no mortgage insurance, and a minimum credit score as low as 580, depending on the loan amount
  • USDA loan: Use a home loan insured by the U.S. Department of Agriculture to purchase a home in an eligible rural area. USDA loans require no down payment, but you’ll need a minimum credit score of 640 (preferred)
  • Fixed-rate mortgages (FRMs): Fixed-rate loans offer regular monthly mortgage payments over the life of the loan term, often between 10 and 30 years
  • Adjustable-rate mortgages (ARMs): Adjustable-rate loans have a fixed interest rate for the first few years and then their rates can float up and down with wider interest rates

Most borrowers stick with a traditional, 30-year fixed-rate loan to enjoy the lowest possible payment. But AmeriSave lets you opt for a shorter term, between 10 and 25 years, if you want to pay off your house sooner. Just keep in mind that mortgage payments will be higher with a shorter loan term, but you’ll pay less in interest repayment.

Refinancing with Amerisave

In addition to home purchase loans, homeowners who are looking to refinance their existing mortgages have options, too. Amerisave a few types of loan options to help borrowers lower their monthly payments, own their homes sooner, or tap their home equity.

  • Rate-and-term refinance: Exchange your original mortgage with a new one that offers more favorable loan terms or a lower interest rate
  • Cash-out refinance: Access your home’s value by replacing your current mortgage with a new, larger loan amount, and then receiving the difference as a lump sum of cash. Cash-out refinance loans are also available for FHA and VA loans
  • FHA Streamline Refinance: A low-doc, low-cost refi loan designed for FHA homeowners
  • VA IRRRL: Also known as the Veterans Affairs Interest Rate Reduction Refinancing Loan, this is a low-doc, low-cost mortgage refinance
Check your refinance loan options. Start here

Where can I get a loan with AmeriSave?

According to NMLS, AmeriSave has physical branches in the following states: AZ, CA, CO, FL, GA, HI, IL, KS, KY, LA, MA, MD, MI, DN, MO, NC, NH, NJ, NM, NV, OR, PA, TX, UT, and WA.

In addition, AmeriSave is a licensed online direct lender in all states (except New York) and Washington D.C.

Amerisave FAQ

Does AmeriSave service its own loans? 

Yes, AmeriSave provides servicing on most of the loans it originates. It may retain the loan until you pay off or sell the house.

What's the minimum credit score for a mortgage with AmeriSave? 

The minimum credit score with AmeriSave Mortgage varies depending on the loan program. Typically, you’ll need a minimum credit score of 620 for a conventional loan, 580 for a VA or FHA loan, and 640 for a USDA loan.

Are AmeriSave interest rates good? 

AmeriSave generally offers low, competitive interest rates. In 2021 (the most recent data available), the lender’s average 30-year rates were lower than its major competitors. But mortgage rates vary by person. If you have a lower credit score or a small down payment, your rate could be higher than average.

Does AmeriSave offer cash-out refinancing? 

Yes, AmeriSave offers cash-out refinancing on conventional, FHA, and VA loans. You can borrow against your home’s equity — usually up to 80 percent — and use the money for various purposes such as debt consolidation, home improvements, or anything else.

Is AmeriSave the best mortgage lender for you?

AmeriSave offers various home loan solutions for first-time buyers, repeat buyers, and refinancing homeowners. This includes mortgages for borrowers with lower credit scores and lower down payments. Plus, AmeriSave mortgage rates are often quite competitive, so there’s a chance you could get a good deal on your home loan.

If you’re interested in AmeriSave, request a rate quote to see what it can offer you. But check with a few other lenders, too. Your mortgage broker, Realtor, or real estate agent can point you in the right direction. You never know which mortgage company can offer you the best deal until you’ve seen personalized estimates.


The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:

  • Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements
  • Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services
  • Ease of application: Includes the availability of an online pre-approval or pre-qualification process
  • Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability
Time to make a move? Let us find the right mortgage for you


  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings