Mortgages

AmeriSave Mortgage review: rates, fees, pros and cons

Are you considering AmeriSave for your mortgage? Here's a comprehensive review of the company's rates, fees, and pros and cons. Find out what this lender has to offer!

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AmeriSave Mortgage: Enjoy pricing transparency and a range of mortgage options

AmeriSave Mortgage logo
Find out if this lender is your right choice in this AmeriSave review. Source: The Insider Advisor

Achieving homeownership doesn’t have to be difficult! Therefore, in this AmeriSave Mortgage review, you’ll find out how to get the money you need to buy your dream home!

AmeriSave Mortgage logo

AmeriSave Mortgage: how to apply

Learn how to apply for the AmeriSave Mortgage! Learn how to prequalify without a hard credit pull! Get personalized interest rates!

This article will compare this lender’s rates, terms, and pros and cons! As a result, by the end of your reading, you’ll be able to make the best decision possible. Keep reading to learn more!

Credit Score580 or higher;
Loans OfferedConventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate. Also, rate-and-term, cash-out, and streamline refinancing;
Minimum Down PaymentAs little as 3%;
APRSee terms;
TermsUp to 30 years.

AmeriSave Mortgage review: what you need to know

AmeriSave is a lender that offers mortgage loans nationwide (except in New York) and delivers a good variety of loan options to potential customers.

This lender offers conventional, jumbo, FHA, VA, USDA, fixed- and adjustable-rate loans. Also, they have rate-and-term, cash-out, and streamline refinancing options available.

This is a great lender for anyone looking for fast prequalification and some guidance throughout the process.

AmeriSave Mortgage charges no application fees. However, they don’t disclose their origination fee or additional closing costs.

Additionally, their minimum down payment is as little as 3%.

When it comes to the mortgage rates, they will vary depending on how you’ll come out as a borrower. So you’ll need to prequalify first.

Furthermore, AmeriSave delivers multiple online calculators to help you estimate your borrowing conditions and make the best of your decision.

AmeriSave Mortgage main features

Smiling young businesswoman deep in thought at her office desk
Learn AmeriSave Mortgage details! Source: Adobe Stock

Choosing a lender is not an easy process! Therefore, you must consider all your options and the details before applying!

For that reason, below, we compare the benefits and drawbacks of the AmeriSave Mortgage! By closely examining its main features, you can easily decide whether it is right for you!

Pros

  • AmeriSave offers a good variety of loans and products;
  • Offers pricing transparency and structured fees;
  • Prequalify without hurting your credit score;
  • The average closing time is 25 days.

Cons

  • AmeriSave doesn’t offer mortgages in New York;
  • Doesn’t offer home equity lines of credit or home equity loans.

Credit score required to apply

There minimum credit score required will depend on the mortgage you’re applying for.

Therefore, for conventional loans, borrowers need a credit score of 620. For an FHA loan, a 580 credit score is enough.

However, remember that good credit history will guarantee better borrowing conditions.

AmeriSave Mortgage application process: how does it work?

Applying for the AmeriSave Mortgage is simple! Therefore, you can prequalify and preview the loan conditions you’ll get without hurting your score!

To learn more about how the application process works, keep reading! We’ll teach you everything you need to know!

AmeriSave Mortgage logo

AmeriSave Mortgage: how to apply

Learn how to apply for the AmeriSave Mortgage! Learn how to prequalify without a hard credit pull! Get personalized interest rates!

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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