AmeriSave Mortgage Review

ByNadav ShemerDec. 27, 2020

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In a Nutshell

AmeriSave Mortgage Corporation is a full-service mortgage lender operating in 49 states and DC. Established in Atlanta in 2002, it has funded 220,000+ homes for a total value of more than $55 billion. AmeriSave is known for offering streamlined online applications with the option of contacting customer support any time you need assistance.


  • Apply and submit forms directly online
  • No SSN needed to get pre-approved rates
  • Wide range of loan options


  • No rates without filling out a quote request
  • No loans above $1.5m
  • Not licensed in New York State

AmeriSave at a Glance

Direct lender or marketplace? 


Loan types: 

Purchase, refinance

Featured loans: 

Conventional, FHA, VA, and USDA mortgages

Repayment terms:

 10-30 years; 5/1, 7/1, or 10/1 ARM

Minimum Down Payment:    

3% for conventional
Minimum Credit Score: 620+ for most loans

Suitable for: 

When you need a straightforward loan application


AmeriSave is a major lender, with a variety of loan options for purchasing and refinancing. These include conventional loans, jumbo loans, and government-backed loans such as FHA, VA, and USDA loans. With each loan, you get a choice between fixed or variable rate and flexible repayment terms of 10, 15, 20, 25, or 30 years. Interest rates are competitive, and AmeriSave offers a range of calculators and tools to help you make an informed borrowing choice.

Suitable For?

This lender is great for straightforward applications. If you have all your paperwork in order and know where you’re buying/refinancing, then AmeriSave can help you get this done quickly. However, if you have any doubts over your purchase/refinance, there is a risk, because of the $500 cancellation fee reported by some applicants.

Types of Loans/Products

AmeriSave offers a selection of loans for purchase and refinance. While its menu isn’t quite as extensive as the biggest lenders, it does offer all the most common types of loans – most of them with competitive starting APRs.

Here’s the full breakdown of purchase options:

  • Conforming loans with minimum 20% down payment
  • Jumbo loan, with loan amounts as high as $1.5 million
  • FHA, VA, and USDA loans, according to the usual rules

And here are the refinance options: 

  • Conventional rate-and-term refinance
  • Cash-out refinance

The Application Process

Potential borrowers can start the application via AmeriSave’s website, or over the phone or live chat with a licensed loan originator. The great thing about the AmeriSave service is it serves prospective home buyers too. You can apply based on what you’re looking for; you don’t have to have found a home yet to apply.

To begin the process online, you’ll need to fill out a short application form that takes about 3-5 minutes to complete. This includes details about yourself, where you live, what type of home you are purchasing/refinancing, type of property, and identifying details such as social security number.

If you apply online AmeriSave will run a hard credit query before pre-approval. However, you always have the option of speaking directly with a licensed loan originator and having them run a soft credit query to determine your eligibility.

After receiving your pre-approved rate, you can go ahead and complete the rest of the process online. AmeriSave offers the option of securely uploading your documents to the portal and even e-signing them to expedite the process.

Rates and Terms

With AmeriSave you get to choose between five different repayment terms: 10, 15, 20, 25, or 30 years. You can take a fixed-rate mortgage or an ARM with 5/1, 7/1, or 10/1 options. One downside to AmeriSave’s service is that it doesn’t advertise rates. To see your rate, you’ll need to go through the whole pre-approval process described above. Generally speaking, AmeriSave’s interest rates are higher than average. However, it charges less on origination and other closing costs, so its APRs are competitive overall. 

Help & Support

To get in touch with AmeriSave, simply call or start a live chat online with a licensed loan originator. The company’s call centers are available toll-free Monday through Friday between 8:00 am and 5:00 pm ET. The company can handle the whole application and approval process by phone, and many customers do prefer this option. The support staff are well trained and able to answer our questions promptly and effectively. However, email responses can take between one and two business days. Customers can also find answers directly on AmeriSave’s website, which features an informative FAQ section.


Thanks to a fully in-house process and a variety of loan options, AmeriSave is a good choice for customers seeking a mortgage. The company offers both traditional mortgages and several government-backed loan options. More importantly, its variety of loan repayment terms give borrowers the flexibility to find the right choice for their impending home purchase or home refinance. A straightforward application process also helps customers close on their homes more quickly.


What is AmeriSave Advantage? In 2016, AmeriSave launched its real estate assistance and rewards program, AmeriSave Advantage. This program helps customers access a network of local real estate agents. After the transaction is complete, the customer may receive cashback of up to around 0.5% on the sale price, e.g. $1,300 off a $300,000 home purchase.

Does AmeriSave offer local expertise? According to AmeriSave, it employs 500+ mortgage professionals around the country. It has a presence in every state except New York, where it isn’t licensed to do business.

Does AmeriSave really not charge loan origination fees? Correct. However, its interest rates are slightly above average, so the end result is that its APRs are competitive but not world-beating. Note that it does charge other common closing fees, including those mandated by law for government-backed loans.

Physical Address

AmeriSave Mortgage Corporation

3525 Piedmont Rd NE

8 Piedmont Center, Suite 600

Atlanta, GA 30305

AmeriSave Mortgage AmeriSave Mortgage Visit AmeriSave Mortgage

AmeriSave Mortgage customer testimonials

GreatReviews 4,802
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  • author
    7 hours ago
    Zachayry Emdee not only makes…

    Zachayry Emdee not only makes refinancing as easy and painless as possible, but also is extraordinarily knowledgeable and forthcoming about every aspect of the process. It is often hard for the average homeowner to grasp the intricacies of escrow accounts, points, PMI etc. Often I have found that even the loan originators don't have a full grasp of this. Zachary Emdee definitely knows these concepts in depth and has the ability to explain it (without over-explaining it) based on the particular interest level of the customer. I completed the process feeling completely confident that was control of the decision I made based on the information I was given.


  • author
    Randy Tucker
    6 hours ago
    It was amazingly easy

    It was amazingly easy. Never would I have thought something as big as a refinance could be done exclusively electronically. Zack and his team guided me through the process the whole time.


  • author
    8 hours ago
    Very knowledgeable and professional…

    Very knowledgeable and professional easy to work with.


  • author
    9 hours ago
    Lee Harris was an incredible loan…

    Lee Harris was an incredible loan officer - GREAT customer service, very responsive. The entire process took about 3 weeks from first conversation with Amerisave to closing day. Competitive rates. Would absolutely recommend to anyone looking to refinance.


  • author
    9 hours ago
    I was very pleased with the overall…

    I was very pleased with the overall experience in refinancing my mortgage. I did not expect the process to be completed in less than one month's time, but I feel it is necessary for the client to be prepared in supplying all requested documents in a timely fashion. I would suggest having a checklist of all anticipated documents that are needed ready when the client submits an application. The portal is quite helpful is instructing the client what documents are needed.


AmeriSave Mortgage