AmeriSave Mortgage Loan Refinancing Review – Pros, Cons and Financial Options

Explore fast and simplified mortgage loan refinancing options in this AmeriSave Mortgage review.

Refinancing any type of loan, including a mortgage refinance, can help customers save substantial money in the long run, lower their current interest rate, and shorten the life of the repayment term. Many customers want to first know, “Is refinancing the best choice for me in my current financial situation?”

In this AmeriSave Mortgage Corporation review, we’ll help you navigate the ins and outs so that you can make a more informed decision.

Like many online lenders and loan service providers, AmeriSave is committed to helping borrowers compare quotes through personalized assistance options. Refinancing is one of the many services that AmeriSave offers in their efforts to help borrowers save money while securing the home of their dreams.

Whether it’s the approach to business, the high rates of customer satisfaction, or the secure quote retrieval process, you’ll gather all the information you need to compare AmeriSave to other online lenders.

AmeriSave Mortgage Corporation: What You Need to Know

AmeriSave Mortgage Corporation has been in business since 2002. During that time, the company has mastered the art of mortgage financing in a way that helps customers consistently maximize their savings potential. AmeriSave’s team of experts approach the mortgage loan refinancing process as a way to help customers work towards their dream of homeownership on better terms.

Customer Satisfaction All the Way

One of the things that distinguishes AmeriSave from competitors is that 94% of customers reported that they would recommend AmeriSave to a friend or family member. This high satisfaction and referral rating is driven in part by low rates and a respect for consumer privacy.

When customers apply to view quotes with AmeriSave, contact information is not required. Many times, online lenders collect this information to continually stay in touch with prospective clients. Since AmeriSave doesn’t collect this information before sharing rate quotes, the company honors customer privacy while sharing the most accurate financial information.

Dedicated to Customer Success

AmeriSave is also an industry leader in terms of technology and innovation. The team of loan originators, loan processors, and support staff propel the company forward. These positions also ensure that customers receive the time, attention, and savings they deserve.

Learn more about refinancing options through AmeriSave by watching the introductory video on the Knowledge Center page:https://www.amerisave.com/knowledge-center/

How Does Mortgage Loan Refinancing Work?

Mortgage loan refinancing works by helping customers repackage a current home mortgage loan under new terms. This is accomplished by applying for a new loan that pays for the old or existing loan. In order to pre-qualify, AmeriSave collects data about your existing loan, current lender, and co-signers.

Many times, customers apply for refinancing because they want to take advantage of lower interest rates currently available in the housing market. Eligibility for these rates may depend on factors like credit history, outstanding debt, and other loan factors. While lower rates may go to borrowers with strong credit, customers of all backgrounds have the ability to save through a refinance process.

Search for Rates, Select a Loan, Sign for Closing.

AmeriSave helps customers save money through the following process:

• Check available rates. A transparent and fast rate check allows customers to see what they might qualify for upon application. A personalized quote can help a borrower decide whether refinancing is the right move.
• Select the right loan. When you search with AmeriSave, there are no obligations, no fees, and no financial commitments. You can easily apply online without having to stress about hidden costs.
• Close on your personal loan. Whether you’re opening a new home loan or closing on a refinance, AmeriSave’s staff members will walk you through a full closing process. This final step takes place after underwriting and is scheduled at a convenient time.

All home loans with AmeriSave include fixed rate and adjustable rate options. These include FDA, VA, USDA mortgages, and other options. Interest rates and closing cost options are personalized per loan and individual borrower.

Where is AmeriSave Available?

AmeriSave is currently available to current and future homeowners within the United States. In some states, there are special considerations and notices that borrowers should be aware of. These notices are focused on residents in California, Texas, and Oregon. AmeriSave is based in Atlanta, Georgia, and most customer support hours are during business hours in Eastern time.

How Much Does AmeriSave Cost?

When you refinance a home loan, the anticipated cost is often a long-term investment throughout the life of your loan. At closing, there may also be associated closing costs, which are standard during any loan or refinancing process. To get an idea of how much you can afford on a home or save in a mortgage refinance, use AmeriSave’s financing calculators to get a personalized outlook on anticipated costs.

What Type of Mortgage Loan Refinancing Does AmeriSave Offer?

Sometimes, borrowers have unique and individualized reasons for wanting to refinance a home loan. While certain situations are designed to lower interest rate only, others are meant to secure cash to handle other debts. AmeriSave offers full and transparent comparisons between Fannie Mae, USDA, FDA, and VA loan options.

Below are the types of mortgage loan refinancing that you can receive with AmeriSave.

Rate and Term Refinancing

Rate and term refinancing is perfect for borrowers who want to lower their current interest rate or shorten the length of their repayment term. This option helps customers take advantage of current or better rates. There are a few considerations and qualifications to remember.

• The home’s value must be greater than the amount owed on the existing loan.
• The customer may be responsible for appraisal fees and closing costs.
• A refinancing calculator can do the math for you to see if the process is worthwhile.

Cash Out Refinancing

The other option is cash out refinancing. This is the ideal choice for borrowers who want to gain cash from their home’s equity. The money can be applied towards things like home improvements and repairs, paying down debts, or other financial needs.

Cash out refinancing is for borrowers who have more than 20% equity in their current home. Borrowers must understand that this option involves borrowing against the value of the home. Although cash and long-term savings are key benefits, it’s important for borrowers to know about any assumed risks when making this decision.

Pros and Cons of Using AmeriSave for Mortgage Loan Refinancing

As with any online lender, AmeriSave offers customers a wide range of benefits. Some of these are standard to the refinancing process in general, and others are company-specific. Take a look at the list below to weigh the pros and cons of working with AmeriSave.

Pros:

• AmeriSave doesn’t collect contact information during the quote process, so you can get an estimate without sharing personal information.
• The company has experience helping borrowers secure a wide range of loans, from traditional fixed rate mortgages to more diverse products.
• The organization is staffed with loan servicing experts who can help customers apply for new loans or make changes to existing loans.
• AmeriSave maintains high customer satisfaction and personal referral ratings.

Cons:

• As an online lender, AmeriSave doesn’t maintain an in-person presence for borrowers who wish to work one-on-one.
• AmeriSave’s mortgages processes could still include appraisal fees and other closing costs, which borrowers may need to prepare for.

Are There Any Discounts on AmeriSave Products?

AmeriSave does not currently offer any discounts, although all borrowers have the ability to save money over the course of their loans. This is because AmeriSave can help customers secure better interest rates that amount to thousands of dollars saved over the course of several years. There are also no fees associated with AmeriSave’s application process.

AmeriSave Reviews from Happy Customers

AmeriSave is highly rated both internally and on platforms like Facebook and Zillow. The company is a 5-star lender on the Zillow marketplace and has received a Top 10 Customer Satisfaction award from Lending Tree.

Here are some other things that reviewers had to say about using AmeriSave for home financing.

_“[AmeriSave] rates were some of the best around. The website to track the status of the loan was great. Emily Roby was a pleasure to work with; she answered all of my questions and was very responsive. I have dealt with many other banks before and never had the level of customer service I had here. I always felt she cared about me and I was just not a number. Considering how busy they are it was impressive. Start to finish, it was easy, and I was closed within 30 days.” _- Steve from North Carolina

“Working with Mia has been very smooth and progressive. She keeps in touch and

lets me know where we are in the process in a timely manner. Amerisave has been the best lender that I have ever contacted.” - Daryl, AmeriSave customer surveys

_“We had been working with a variety of lenders to make the best decision regarding refinancing our home. We selected AmeriSave based on their overall ability to accommodate our needs. So many things ... competitive rates, professional and courteous staff, willingness to help their customers, pleasant attitudes. I haven't ever had a better financial experience so far!” _- Susan from South Carolina

How to Apply for an AmeriSave Mortgage Loan Refinance

Applying for an AmeriSave mortgage loan refinance is an easy 3-step process. This includes:

• Applying - share asset and income information
• Locking in rates - work with a loan originator to review
• Closing - schedule a final signing after underwriting

On the Web

1. Visit the homepage at amerisave.com.

2. Select the red “Get Rates” button, or choose “Refinance” from the top menu.

3. Select the “Get a Quote Fast” button.

4. Select “Home Refinance” as your preferred option.

5. Share personal and asset information for a direct quote.

6. Once you have your rate, you’ll be guided through a process for applying directly.

7. An assigned mortgage loan processor will facilitate the process and guide you to closing.

By App

AmeriSave does not currently offer the application process via app. Customers should apply online or by reaching out to a customer service representative via phone.

By Phone

To apply or to receive help via phone, customers can use 800-777-9609 to get in touch with a loan expert.

How to Contact AmeriSave

Address: 3525 Piedmont Rd NE 8 Piedmont Center, Suite 600 Atlanta, GA 30305

This address corresponds to the AmeriSave Mortgage Corporation Customer Service Department.

**Customer Service: **1-888-700-4026

_Representatives are available by phone Monday through Friday, 8:00 AM to 5:00 PM EDT. _

**Email Support: **[email protected]

Questions and correspondence are also accepted by traditional post.

**Website: **https://www.amerisave.com/

**Facebook: **https://www.facebook.com/amerisave

**Twitter: **https://twitter.com/amerisave

**LinkedIn: **https://www.linkedin.com/company/amerisave

**Blog: **https://www.amerisave.com/knowledge-center/

More information about how to contact AmeriSave can be located on the company’s Customer Service page.

Does AmeriSave Offer Other Financial Products?

Yes, AmeriSave offers more products beyond the scope of refinancing. Even so, the company primarily specializes in homeownership. This means that all financial products are geared specifically toward buying or refinancing a home.

A complete overview of AmeriSave’s loan options is available on the company’s Loan Programs page. Below is a summary of each type of loan product outside the scope of refinancing.

Fixed Rate Loans

Fixed rate mortgage loans are a standard type of mortgage. In this loan, both the interest rate and monthly principal amount never fluctuate. This provides consistency and predictability to borrowers who are worried about volatile changes. With AmeriSave, you can secure traditional 15 or 30-year mortgages, but you also have access to 10, 20, and 25-year options.

Adjustable Rate Loans

Adjustable rate loans can be beneficial for borrowers who are confident that they will either sell or rent their home in less than 7 years. Adjustable rate mortgages, commonly called ARMs, have interest rates that fluctuate with market standards. Benefits include lower payments, savings when interest rates decline, and flexibility for customers who don’t intend to live in one residence for a long time.

FHA Loans

FHA loans are especially helpful for lower income borrowers or those with poor credit history. These loans offer lower down payment options and often come with greater flexibility. While FHA loans are issued through the Federal Housing Authority, you can pre-qualify for this type of loan using AmeriSave.

VA Loans

VA loans are also flexible in terms of credit history and down payment amount. These loans help military veterans and their families secure suitable home loans. In many cases, down payments and private mortgage insurance (PMI) are not required.

Although VA loans come with specific requirements, AmeriSave’s mortgage experts are trained to facilitate this loan process. Visit the VA Loans page today to get pre-qualified and to connect with an expert.

USDA Loans

USDA loans are another option for borrowers who require low or no down payments and flexible credit requirements. These loans are guaranteed through the United States Department of Agriculture. Many times, these loans offer incentives for moving into certain locations that could benefit from housing development.

USDA loan benefits include low down payments, no private mortgage insurance (PMI), and lower interest rates. There are certain guidelines regarding income, property value, and location. AmeriSave can help borrowers navigate these requirements to secure the right USDA loan for their unique situation.

AmeriSave Mortgage Refinancing Review – Summary

In this AmeriSave mortgage review, you’ve learned more about AmeriSave as a unique online lending option. If you’re looking to save money on your mortgage payment or lower your existing interest rate, the team at AmeriSave may be able to help.

AmeriSave’s offerings can also help customers throughout each stage of life. If you’re refinancing today but need a new home loan several years from now, AmeriSave’s products may benefit you. With a free quote retrieval process, customers always have quick access and visibility into the best rates without making big commitments. If you’re still in the research phase, this AmeriSave perk provides the visibility you need to make the right decision.

For more information on AmeriSave’s longstanding history of helping homeowners, visit the website today!