AmeriSave Home Purchase

Best Of Product

AmeriSave Home Purchase
in Home Mortgage Loans from Amerisave Mortgage Corporation · NMLS ID #1168

AmeriSave Home Purchase

in Home Mortgage Loans from Amerisave Mortgage Corporation · NMLS ID #1168
SuperMoney Net Recommendation Score +62  


This product is strongly recommended by SuperMoney users with a score of +62, equating to 4.2 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Community Rating Strongly recommended
Loan Amount $60,000 - $2,000,000
Loan Term (Years) 3 - 30 years
Credit Score Range 550 - 850
No Origination Fee
Number of Reviews 29

AmeriSave Home Purchase Review

AmeriSave Home Purchase is offered by Amerisave Mortgage Corporation (NMLS #1168), a direct lender founded in 2002 and based in Atlanta, GA. Amerisave Mortgage are available in 49 states (and Washington, DC).

Key Takeaways

  • Lock & Shop rates. AmeriSave offers a 90-day certified Lock & Shop interest rate that protects you from rate hikes while you’re shopping for a house. The locked rate does not require a signed purchase contract and is not subject to 30-year conventional loan restrictions, which gives you more flexibility.
  • Certified Approval Letter. AmerSave issues a Certified Approval Letter within hours after you’re approved so you can begin shopping for a home. The Certified Approval Letter verifies that your income and credit history meet the loan underwriting standards, which shows the seller you’re able to follow through on the home purchase.
  • 4 different mortgage programs offered. AmeriSave Home Purchase offers FHA, USDA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, Amerisave Mortgage Corporation does not offer financing for manufactured homes.
  • Non-standard interest rates available. AmeriSave Home Purchase offers option ARM mortgages, adjustable-rate mortgages, hybrid mortgages, and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No origination fee. AmeriSave Home Purchase does not charge a fee for processing your application on some loan options.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for AmeriSave Home Purchase.
  • Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered.
  • High maximum DTI ratio. AmeriSave Home Purchase has a maximum debt-to-income ratio of 45%. This ratio includes all your monthly debts, not just your proposed mortgage payment. Typically, lenders have a maximum DTI of 43% or lower.

AmeriSave Home Purchase Pros & Cons

Pros Cons
  • Very competitive rates and fees
  • In 3 minutes, can get customized rates & all programs prequalified without giving SSN or hard credit pull
  • Real-time prequalification
  • Prequalification without hard credit pull
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Considers applicants with fair credit.
  • Offers financing for both single and multi-family homes.
  • Available in 49 states.
  • Does not finance mobile homes

Amerisave Mortgage FAQ

How much can you borrow via Amerisave Mortgage Corporation?

Amerisave Mortgage allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Amerisave Mortgage?

Amerisave Mortgage offers mortgages with terms ranging from 3 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Amerisave Mortgage Corporation offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does Amerisave Mortgage charge an application fee?

Yes, there is an application fee of $500.

Note that if your loan originator or loan officer claims not to charge an application fee, the cost of the loan process is probably included somewhere else in the closing costs. As with other closing costs, the application fee is often negotiable. However, you may need to offer a higher down payment or have an excellent credit score to get your loan officer to consider a lower price.

Do they charge mortgage origination fees?

No, Amerisave Mortgage does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Amerisave Mortgage charge prepayment fees?

No, Amerisave Mortgage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, Amerisave Mortgage offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Amerisave Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Amerisave Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for AmeriSave Home Purchase is (866) 970-7283.

What is the support contact email?

The support contact email for is

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

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Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 5:00pm
  • Tuesday 8:00am - 5:00pm
  • Wednesday 8:00am - 5:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 8:00am - 5:00pm
  • Saturday Closed

Other Services by Amerisave Mortgage Corporation


  Available in 49 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Application Fee $500
No Origination Fee
No Prepayment Fee
Credit Score Range 550 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Other
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
Primary Residence
Loan Amount $60,000 - $2,000,000
Loan Term 3 - 30 years
Interest Rate Types Offered
  • Hybrid Mortgage
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
  • Option ARM
Mortgage Programs
  • FHA
  • USDA
  • VA
  • Jumbo

AmeriSave Home Purchase Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +62, equating to 4.2 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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