Amerisave Mortgage Review(s) and Interest Rates

June 9, 2011 No Comments »

Amerisave is one of the largest retail mortgage lenders in the country. They have hundreds of employees and serve customers in all 50 states (including Washington DC). They are a direct lender and claim to specialize in low mortgage rates and stellar customer service. Amerisave.com was designed to make shopping for mortgages online both easy and straight forward. Once on their website you can shop, apply and request your rate lock in minutes. Amerisave offers all mortgage products to their customers (including – 30 year fixed rate mortgages, adjustable rate mortgages, interest only mortgages, balloon mortgages, jumbo mortgages and a number of mortgage refinance options).

Amerisave also takes their customer service seriously. They constantly survey their customers and post the results online. With hundreds of new customer responses and testimonials posted each month, they have a high number of positive reviews. However, one should take into consideration the fact that there is nothing stopping them from simply omitting negative responses. The BBB Business Review gave Amerisave a C+ and has over 580 complaints registered as of June 2011 (384 of which were closed within the last year).

Amerisave Mortgage Rates 2011:

(Rates accurate as of June 2011. Visit Amerisave.com for updated rates and information.)

- 30 year fixed rate mortgage with a 4.188% APR on loans up to $417,000.

- 15 year fixed rate mortgage with a 3.430% APR on loans up to $417,000.

- 7 year ARM (adjustable rate mortgage) with a 3.016% APR on loans up to $417,000.

- 5 year ARM (adjustable rate mortgage) with a 2.878% APR on loans up to $417,000.

- 3 year ARM (adjustable rate mortgage) with a 3.076% APR on loans up to $417,000.

- FHA 30 year fixed rate mortgage with a 4.519% APR on loans up to $417,000.

- FHA 15 year fixed rate mortgage with a 3.90% APR on loans up to $417,000.

The Process:

Home Refinancing with Amerisave – 1) Search rates and determine the best loan for your needs, then apply, and request your rate online. 2) Download your loan documents, sign, and mail back to Amerisave. Amerisave will process & underwrite your loan. 3) They will arrange for you to close your loan in your home or at an attorney’s office most convenient to you.

Home Loans for Purchase – 1) Search rates and determine the best loan for your needs, then apply. 2) Download your loan documents, sign, and mail back to Amerisave. We will process & underwrite your loan. Your loan will be approved subject to final appraisal and title inspection. 3) Receive their Premier Pre-Approval certificate and shop for your new home.

If you have experience with the home loan or mortgage process with Amerisave, please share by leaving a comment!

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