## Amerisave Mortgage: A Comprehensive Overview
**Introduction:**
Amerisave Mortgage Corporation is a national mortgage lender and servicer headquartered in Draper, Utah. Founded in 2002, the company has grown significantly over the years, becoming a trusted provider of mortgage lending solutions for homeowners across the country. Amerisave is known for its competitive interest rates, flexible loan programs, and personalized customer service.
### Services Offered by Amerisave Mortgage:
– **Purchase Loans:** Amerisave offers a wide range of purchase loan options to help homebuyers finance their dream home. These include conventional loans, jumbo loans, FHA loans, and VA loans.
– **Refinance Loans:** Homeowners can refinance their existing mortgage with Amerisave to reduce their interest rate, consolidate debt, or access their home’s equity.
– **Home Equity Loans and Lines of Credit (HELOCs):** Amerisave provides home equity loans and HELOCs to homeowners who want to borrow against the value of their property for various purposes, such as home improvements, debt consolidation, or education expenses.
### Loan Programs Available through Amerisave:
**Conventional Loans:**
– Fixed-rate mortgages and adjustable-rate mortgages (ARMs) with terms ranging from 10 to 30 years.
– Loan amounts up to $726,200.
– Competitive interest rates.
**FHA Loans:**
– Government-insured loans with low down payment requirements and flexible credit guidelines.
– Loan amounts up to $472,030.
– Upfront and annual mortgage insurance premiums required.
**VA Loans:**
– Loans backed by the US Department of Veterans Affairs for eligible veterans and active-duty military members.
– No down payment or private mortgage insurance required.
– Competitive interest rates and flexible loan terms.
**Jumbo Loans:**
– High-value loans for properties that exceed conventional loan limits.
– Loan amounts up to $3 million.
– Stricter credit and income requirements.
### Benefits of Using Amerisave Mortgage:
– **Competitive Interest Rates:** Amerisave consistently offers competitive interest rates on all loan programs.
– **Flexible Loan Options:** The company provides a variety of loan options to meet the needs of different borrowers.
– **Personalized Customer Service:** Amerisave’s team of experienced loan officers provides personalized guidance and support throughout the loan process.
– **Fast and Efficient Loan Processing:** The company’s streamlined loan process ensures a fast and efficient closing.
– **Online Mortgage Application:** Homeowners can conveniently apply for a mortgage online through Amerisave’s website.
### Eligibility Requirements for Amerisave Mortgage:
To qualify for a mortgage through Amerisave, borrowers must meet certain eligibility requirements, which vary depending on the loan program. These requirements typically include:
– **Credit Score:** A minimum credit score is required, which varies by loan program.
– **Debt-to-Income Ratio (DTI):** Borrowers must have a DTI that meets the company’s guidelines.
– **Income:** Borrowers must have sufficient income to support the mortgage payments.
– **Property Location:** The property being financed must meet Amerisave’s property eligibility criteria.
### Application Process with Amerisave Mortgage:
Borrowers who meet the eligibility requirements can apply for a mortgage through Amerisave by following these steps:
1. **Pre-approval:** Obtain a pre-approval letter to determine the loan amount you qualify for.
2. **Loan Application:** Complete the mortgage application online or with a loan officer.
3. **Document Submission:** Provide required documentation to verify your income, assets, and credit history.
4. **Loan Approval:** Amerisave will review your application and issue a loan approval notice.
5. **Closing:** Attend the closing meeting to sign the loan documents and receive the loan proceeds.
### Amerisave Mortgage Customer Reviews:
Amerisave Mortgage has received generally positive customer reviews for its competitive interest rates, flexible loan options, and personalized customer service. Many customers praised the company’s loan officers for their professionalism and helpfulness throughout the mortgage process. However, there have been some complaints regarding longer closing times and communication issues in certain cases.
### Conclusion:
Amerisave Mortgage is a reputable mortgage lender that provides a wide range of loan products and services to homeowners nationwide. The company’s competitive interest rates, flexible loan options, and personalized customer service make it a viable choice for borrowers seeking a trusted mortgage provider. By carefully considering your eligibility and loan requirements, you can determine if Amerisave Mortgage is the right lender for your specific needs.