Online Lender With Good Customer Reviews and Fast Closing


Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.

Types of Loans Offered

Conforming, FHA, VA, USDA

Types of Loans Offered

Conforming, FHA, VA, USDA


  • Fast prequalification with a soft credit check
  • Claims that half of its customers close in 25 days
  • Has very good reviews on both Zillow and Trustpilot


  • Doesn’t list rates online
  • Won’t let you apply with alternative credit data
  • Few additional features beyond its main mortgage offerings
  • Repeat buyers need to put 5% down

more information

  • Available in all states except New York
  • Charges a $500 application fee and a $295 underwriting fee
  • Minimum credit score and down payment displayed are for conforming mortgages. The 3% down option is only available to first-time homebuyers; others must put down at least 5%.

Overall lender rating

pros and cons

AmeriSave Mortgage Corporation mortgage interest rates and fees

unlike some

mortgage lenders

, AmeriSave doesn’t list sample rates online and won’t show you customized rates without applying for prequalification. Currently, the lender only advertises its lowest rate on its rate page.

If you get a mortgage with AmeriSave, you’ll pay a $500 application fee and a $295 underwriting fee. However, AmeriSave notes that its fees can vary depending on your location and the type of mortgage you get.

AmeriSave Mortgage Corporation v. New American Funding

New American Funding is a good choice for borrowers who want a lot of options, since it offers a variety of different mortgage types. Its special mortgage offering, the I CAN mortgage, lets you choose any mortgage term between 8 and 30 years. New American Funding also accepts alternative forms of credit from borrowers who have no credit or poor credit. Alternative forms of credit can include things like proof of rent or utility payments.

However, if AmeriSave has the type of mortgage you’re looking for and offers you a lower rate than other lenders, it might be the better choice for you.

AmeriSave Mortgage Corporation v. Bank of America

Both of these lenders are solid options for the average borrower. Which one is better for your needs might come down to which lender offers you the better deal when it comes to rates, fees, and overall costs.

If you’re a first-time or lower-income homebuyer, Bank of America might be the better option thanks to the down payment and closing cost grants it offers.

How AmeriSave works

AmeriSave is an online lender that originates loans in 49 states and Washington, DC The only state it doesn’t lend in is New York, so if you’re purchasing or refinancing a home there, you’ll need to work with a different lender .

This lender offers a few different mortgage types, including conforming, FHA, VA, and USDA mortgages. On its conforming loans, first-time homebuyers can put down as little as 3%; repeat buyers must put down at least 5%.

AmeriSave’s minimum

credit score

for its conforming mortgages is 620. To get an FHA or VA mortgage with this lender, you’ll need to have a credit score of at least 600. USDA mortgage borrowers need a score of at least 640. You’ll need a credit score to get approved with this lender, since it doesn’t accept alternative credit data like proof of utility payments.

For its lender fees, AmeriSave charges a $500 application fee and a $295 underwriting fee.

You can get started with AmeriSave online or over the phone. If you need help, you can also chat online with a loan officer by clicking the “chat” button on its application page. AmeriSave’s customer service line is open Monday through Friday from 8 am to 5 pm ET

Is AmeriSave Mortgage Corporation trustworthy?

AmeriSave has an A+ rating from the Better Business Bureau. BBB ratings are based on a company’s response to customer complaints, honesty in advertising, and transparency about its business practices.

In JD Power’s 2021 Primary Mortgage Origination Satisfaction Study, AmeriSave ranked below the industry average in customer satisfaction. However, the lender has really good customer reviews on its Zillow lender profile and on Trustpilot.

AmeriSave Mortgage Corporation FAQ

Can I get my $500 back from AmeriSave?

AmeriSave charges a $500 application fee. This type of fee can be costly for borrowers who ultimately aren’t approved or decide not to get a mortgage with the lender they paid the fee to, since it often isn’t refundable. AmeriSave notes in some of its responses to BBB complaints that its application fee isn’t refundable.

What credit score do you need for AmeriSave?

The credit score you’ll need will depend on the type of mortgage you’re planning to get.

  • Conforming: 620
  • FHA: 600
  • VA: 600
  • USDA: 640

Is AmeriSave a good lender?

AmeriSave currently has a 4.67 star rating on Zillow and a 4.3 rating on Trustpilot. However, it ranked below the industry average in JD Power’s annual customer service study. You might like AmeriSave if you’re looking for a conforming, FHA, VA, or USDA mortgage and want a speedy closing.