![]() If mortgage rates drop and you refinance with them, you can qualify for that credit as well. In conjunction with this new offer, they are extending a $750 credit that can be applied towards a future refinance transaction. ![]() Of course, be sure to compare their mortgage rates to competitors, as the cost could be passed along to consumers. And it is a lender-paid buydown, meaning AmeriSave covers the cost. So if you qualify for a rate of 6%, you’ll get a rate of 5% in year one. You get a 1% rate reduction the first year of your mortgage term. In February 2023, AmeriSave launched the “Lock & Drop Program,” which a temporary mortgage rate buydown. Lastly, they just launched personal loans up to $50,000 loan amounts that come with a fixed rate and a 3-, 5-, or 7-year term. The company also offers a home equity line of credit (HELOC) if you need cash, but don’t want to lose the low fixed interest rate on your first mortgage. They have caps of 2/2/5, meaning the most they can adjust initially is 2%, then 2% periodically, and up to 5% during the life of the loan. With regard to their adjustable-rate mortgages, they offer the 5/1, 7/1, and 10/1, which are the most popular available. You can get a fixed-rate mortgage in 30- or 15-year terms, along with less common loan terms of 10, 20, and 25 years. In terms of loan type, they offer both conforming and jumbo loans, along with government loans such as FHA, USDA, and VA loans. They recently launched a suite of home buyer perks including a certified approval letter, certified closing promise, and a lock & shop option.Īll three can make you a stronger candidate in a bidding war, or simply give you peace of mind that you qualify for a mortgage if and when you find your dream home. Fixed-rate loans: 30-year, 15-year, 25-year, 20-year, and 10-year fixedĪmeriSave has all the typical loan options you’d expect from a national direct lender, including home purchase, rate and term, and cash out refinances.Government loans including FHA, USDA, and VA.Conventional (Fannie/Freddie) and jumbo loans.They also have a wholesale lending arm that works directly with mortgage brokers, so it’s possible your loan could come from AmeriSave if you use a broker. In January 2019, they acquired the origination business of The Money Source (TMS), which had been a growing force online as well.ĪmeriSave took on some TMS employees and their Plano, Texas and Chandler, Arizona offices via the acquisition, with expected volume of $1.5 billion for 2019. Since inception, they have funded over $55 billion in home loans on over 230,000 properties nationwide. The company says many of its customers choose to go the “self-serve” route for all or most of their transaction thanks to the intuitive loan origination platform in place.ĪmeriSave is licensed in 49 states and the District of Columbia, with New York the only state they don’t lend in. ![]() Over the past decade, AmeriSave has “invested heavily in its proprietary technology” to create a “highly automated” loan process, similar to other fintech lenders like Better Mortgage and Figure. Regardless, they are a mortgage lender that lives online, which hopefully means they can pass the savings of brick and mortar expenses on to you. ![]() They refer to themselves as a fintech company responsible for “pioneering the first truly digital mortgage experience,” a claim Rocket Mortgage might disagree with. is a direct-to-consumer mortgage lender lender based in Atlanta, Georgia that has been around since early 2002. (not available in NY)ĪmeriSave Mortgage Corp. Claims to have pioneered digital loan origination process.Has originated over $55 billion in home loans on over 230,000 properties.Founded in 2002, based in Atlanta, Georgia.Direct-to-consumer mortgage lender that offers home purchase and refinance loans. ![]()
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