I decided to give AmeriSave a try after reading so many positive reviews. It's one of the worst decisions I've ever made in my life. The loan officer stated that he would beat any competitor's interest rates in order to earn my business (1st broken promise). Next, he stated that if I provided all the requested documents within 48 hours that the loan would close in 10-14 business days (2nd broken promise). Then he stated I wouldn't have to pay any points and that they would waive the appraisal fee since I had already paid for an appraisal (3rd broken promise). The same loan officer's communication was horrible (went a week before replying to emails and voicemails). Finally, he entered the wrong information for the loan on numerous items (eg, I requested to borrow $495k and he entered $510k; he entered points totaling $5k; he entered a desktop appraisal of $675k when I had three independent appraisals showing the house valued between $730-$750k; he never adjusted the incorrect debts shown on my credit report even though I provided statements showing lower debts; etc.) which affected my DTI and LTV and then stated he couldn't get me approved through Fannie Mae (4th broken promise). When I brought this to the attention of his sales manager, the sales manage said he would take care of the matter and fix everything which never happened (5th broken promise) and like the loan office the sales manager was slow to reply and never replied two voicemails and one email. After such a horrific experience, I contacted a customer service rep. Out of Atlanta informing her of my experience with loan officer and manager out of the Troy, MI. Office. She spoke with her manager and was able to get my loan transferred to a different loan officer out of the same office. I was hoping for the best with a new loan officer unfortunately the new loan officer was just as incompetent and unprofessional as the previous loan officer making matters worse (eg, allowed the rate lock to expire, increased loan interest rate, increased points to $20k even though I stated that points were a deal breaker, kept loan amount at $510k event though I asked to reduce the loan amount down to $475k, didn't reply to voicemails or emails for a week, made numerous promises and broke every one of them, etc.). Since I had to deal with the same issues all over again, I contacted their Customer Service department again letting them know that things were worse than before. The CS rep. Said she would contact her manager and that they would take care of this matter asap. Several days later the CS rep contacted me to see if anyone from the Troy, MI office had contacted me with regards to all of the issues I was having. I told her that nobody ever contacted me about the matter and that I was going to take my business elsewhere. In reflection, I wouldn't recommend AmeriSave to anyone. Their loan officers over promise and under deliver. Their communication is horrible and they don't listen to the customer (eg, neither loan officer ever reduced the amount I wanted to borrow even though I said something to them every time we spoke, etc.). If you value your time and money, do NOT use AmeriSave. There are other lenders that are more professional and keep their promises. Luckily, my story has a happy ending. I switched lenders and within two days of submitting my application, it went to underwriting. The underwriters approved everything, it's been approved by both Fannie Mae and Freddie Mac, and now we're waiting for the appraisal to come back. My new lender has been amazing and we've started discussing which title agency we will be using along with a projected closing time frame.

I learned this the hard way when I decided to go with an AmeriSave mortgage. After going through this process with other mortgage companies, including at the end of 2008 after the financial crisis, I had a reasonable understood how the mortgage process worked.

But I had an unfortunate wake-up call just a few weeks into my AmeriSave mortgage experience. From my perspective, the banking company was putting pressure on me just for sport. It seemed they almost took pleasure in making my life a living nightmare. Making me struggle to get documents that were difficult to acquire. The fact that they are asking me for some of these documents was absurd…

What type of documents, you might ask?

First was the number of documents. At first, it was 10, then 20, when I finally thought I was done, I had 10 more, then another 10. All in all, by the time I finally completed the process, I must've submitted somewhere between 50 and 60 documents.

Some of the oddest ones included:
• The current year K-1 tax documents from stocks that I didn't even own anymore. I didn't have those and unlike other documents, tracking those down proved to be extremely difficult. In the end, I learned that those documents didn't even exist. Then I had to provide proof if they didn't exist.
• I had the chase down one of my rental property's HOA invoices. This shouldn't have been a big deal, as I provided AmeriSave with the document initially, but as it turned out, the HOA invoice I provided was from the previous quarter, and that wasn't good enough. I had to get the HOA invoice from the current quarter even though it was the same dollar amount.
• Since my wife had sent me a gift to help purchase the property, AmeriSave wanted the bank account statement from my partner. Not a big deal, I asked for it and received it. Unfortunately, they also demanded that she provide her other bank accounts that were NOT part of the gift. Why would someone not on loan have to provide bank accounts that have nothing to do with the loan? My partner was reluctant and for a good reason. What business is it of AmeriSave to demand to see someone's private bank accounts that are not connected to the loan and not on loan? Good thing they did not ask for my mothers bank accounts!
• AmeriSave also required me to contact my accountant and have him write a letter stating that my business was currently active. This seemed like it didn't make a lot of sense for several reasons. For one, I had been in business for almost 20 years, and I just gave them a fresh tax return. Did they think I would dissolve my business? Secondly, my accountant only does my annual return, so he doesn't have any firsthand knowledge about my business other than what's in my tax return, which AmeriSave already had. Finally, they had already provided my business was active by providing real-time statements showing company receipts. So, they can see with their eyeballs firsthand that money was coming into the company. So why did they want me to contact the third party who had less information than they did and plead that they would create a document for me? It's one thing to make me chase down documents. Still, it's even more complicated when I have to go to a third party and ask them to create a document, especially when that party doesn't have firsthand knowledge of the information AmeriSave wants them to provide. Why would that even matter when they see the money being generated by the business. It would be like demanding a copy of a document when you already have the original.

It took some time, but after completing all the requirements, I finally got a Certified Loan Approval that was good for eight weeks! That should've been no problem because the loan was closing in four weeks. I worked hard to get everything they needed, including pleading with other parties to give me personal information or create letters for me to get the certified approval before we would lose our earnest money.

I was set… or was I?

One week before the closing, AmeriSave hits me with another huge list of requirements! What? Oh, No! Wasn't I already certified? The official document I received stating I was certified is not real? Do I have to start this painful process again? Why did you wait nearly three weeks to tell me I would have to do all this again?

The first time I went through this process was stressful enough, but now I've already given my 30 days' notice to my landlord and sold half my belongings in preparation for the move. I did this because I was relying on the fact that I was certified.

Now we have another massive list of new absurd requirements, despite already being certified.

• AmeriSave wanted a disclosure and waiver document from my broker. When I asked him for it, his response was, "Lol. I can honestly say I have never had a lender ask for those before!"
• AmeriSave wanted me to provide a lease agreement on my rental property because it wasn't in my tax return… The problem was, it was in my tax return. Stop wasting my time!
• They wanted a copy of the earnest money check. The problem was we paid by wire, and they already have the wire documents. Are you morons?
• They want another letter from my accountant that my business is active. So now I have to contact my accountant again and ask them to write the same letter he wrote three weeks ago?

It's like AmeriSave is making me do stuff just for the sake of making me do stuff. I frantically called and emailed my loan originator, trying to figure out what was going on, asking her to please call me ASAP. I received no return phone call. Instead, I got a short, dismissive email stating that I had been preapproved, but now a few things need to be updated.

However, that's not the case! I had an official loan certified approval that was good for a specific amount and good for eight weeks. I sent another email asking her to contact me ASAP, and with only a week to go till closing, I think it was warranted, but I heard nothing back.

I ended up missing my closing date because they would not approve my loan. Again, they wanted more documents. I missed the second closing date because they were still late on approving me.

The worst part is, when they don't approve the loan by the deadline, they delay the process. When the process gets delayed, many of the documents that were submitted now become old. So now they demand new documents again.

Wait… So I have to get new documents now because you did not do your job in time?

In the end, I must have submitted 120 to 140 different documents and missed two closing dates, finally closing right at the third deadline after complaining to AmeriSave management about my loan officer, who had no sense of urgency.

I got lucky to barely squeak through one of the most stressful situations of my life as the sellers were threatening to pull out, of I missed my third deadline.

In the end, it worked out okay, but I can tell you I would never work with AmeriSave again. My warning to all home buyers, unless you want to deal with lots of extra stress and a bank that could care less about their client's closing date, stay far far away from AmeriSave.

Spent over 30 hours providing bank statements, profit and loss statements, personal and business tax returns, and in general provided all of Amerisaves request in a timely manner. The first loan officer I was dealing with was awesome! He was transparent as well. He was diligent with responding to my texts, emails, and calls.

My credit score is close to 800. Never missed a payment in over 8 years. My personal income is 80k and my business income was 200k. I paid over 10k in income tax in 2020 for my personal and I used a loss carry forward for my business. After he analyzed my income, he told me my chances in refinancing were great!

Now to the underwriter. My loan officer told me that the underwriter is requesting additional bank statements. So I provided him the entire 2020 bank statements for my personal and business. He was not to happy with the treatment I was receiving and honest to God he quit Amerisave.

They transferred me to another loan officer, James. James procrastinated and compared to the first loan officer, no way on earth can James provide the customer service in terms of answering his calls or responding to messages like the first loan officer. James was no too interested in providing me accurate information and assumed that I didn't know anything about depreciation and in general taxation. So he told me the underwriter mentioned that my business was not profitable according to my 2020 business return, which would imply that Amerisave is incompetent and not in the right industry if they want to help individuals such as myself refinance. How can they not know how to understand the line numbers on Form 1120?

To conclude, I practically provided them all of the information related to my personal and business. They can now sell my information, ILLEGALLY, and being they did not provide me a legitimate reason to why they didn't approve my refinance, I'm sure they will! They stole $500 from me and I was told by the first loan officer that I will be refunded if I don't get approved. That turned out to be not the case.

Amerisave has recently been recognized with the Better Business Bureau in 2020. They have little onto no experience in the refinance or mortgage industry. Be careful providing them information that is excessive. They are a mystery!

I learned a valuable lesson and when it comes to vital information that is personal information, I give myself an F for taking a chance without conducting my due diligence researching Amerisave. They treated me like I wasn't American and the hard work I have put forth in the past decade went down the drain in the eyes of an incompetent mortgage company.

Do your research and it may be tedious, but read any document they want you to sign. My experience with Amerisave leads me to believe they are running scams on Americans. This is a lesson learned for me and I'm sharing my experience so anyone who reads this doesn't repeat the same mistake I made.

Many mortgage companies who have a proven track record will blow Amerisave out of the roof. The first loan officer I worked with was awesome and he quit because he knew I qualified compared to individuals who he helped refinance in the past, yet I was being pushed around.

I hope this helps the individual reading this make an informed decision!

On January 21,2021 I started a mortgage refinance process with Amerisave Mortgage. My Loan processor was Bryce Powers. Bryce and I discussed the loan, including the loan rate. I was happy with the initial loan rate of 2.75% for a 30 year mortgage. I asked Bryce to "lock-in" the rate. Bryce explained that it was Amerisave's policy not to lock in rates because "if the rate dropped, the customer benefits and if the rate goes up, Amerisave will issue an exemption to get the rate back to the rate on the signed disclosure." This sounded like a great deal to me, a can't lose situation. After the appraisal came in higher than anticipated, I asked Bryce what the rate would be on a cashout refinance. Bryce quoted me a rate of 3% with 3.154 in points totaling $9115 for a 30 year cash out refinance. I asked Bryce again about locking in the rate because the 10 year note was starting to go up. Bryce stated the following, "I would not work for a company that misled its customers, and I'm sure you would not do business with a company that lied to you. Your rate is 3%, if the market rate goes down, you win. If the market rate goes up, my supervisor will give me an exemption to get your rate back to 3%." I believed Bryce and on February 10,2021 I signed a disclosure for the cash out refi with these terms. Well, rates continued to rise and and I called Bryce again to inquire about the interest rate. Keep in mind, communication with Bryce was HORRIBLE. I would have to call him several times and send multiple emails before he responded, if he responded at all. When I finally got in touch with him and expressed my concern over the rising mortgage rates, he again told me not to worry, that Amerisave would take care of me. Well, on March 10,2021, in anticipation of a March 14,2021, I received a new, updated, surprise disclosure via email. This disclosure still had the 3%, 30 year mortgage put now the points I was paying went from 3.154 points totaling $9115 to 3.664 points totaling $*******, a difference of $1473. I again made several telephone calls and send various emails to Bryce letting him know the terms on the disclosure had changed and I was being charged more in points, and in title fees. When I finally got Bryce on the phone, he told me not to worry, he would send the disclosure back to his manager and get it corrected. The next day Bryce call me back and told me he got the points down to 3.437 totaling 9933. 18 but he could not get it back to the original agreement of 3.154 totaling $9115. He stated there was nothing he could do to get my disclosure back to the terms we originally agreed on, and signed onto, and my only option at this point would be to cancel the refinance request or move forward with he new terms. He did not apologize for continuously telling me there would no issue with my rate and there was no need to lock it in. He very coldly told me to cancel or move forward. I then asked to speak with his manager. The same day his manager called me and acknowledge that Bryce had misled me. He stated that Amerisave had hire a lot of new people and it was obvious that they need some work in how they communicated the rate lock policy to customers. He also stated he could do nothing more except offer a refund for the $500 application fee, which I have not received. Bottom line, I had no choice but to move forward with the refinance. Amerisave had me in a hostage situation. If I cancelled the refinance and when with another company, I would have to begin the process from the beginning and would probably get an even higher interest rate. Amerisave is very calculating. They change you a non-refundable $500 application fee upfront and conduct your appraisal within 4 days of application. This is done to lock you into their services. After the appraisal and the underwriting is approved, they know you will move forward with the refinance because moving to another mortgage provider at that point will cost you more money and a higher interest rate since rates have gone up. That is also why Bryce, after lying to me in 4 separate conversations, offered to cancel my loan or move forward. He knew I had no choice but to move forward.
I am requesting that Amerisave reimburse me for the difference on the points on the February 10,2021 disclosure and the final March 4,2021 disclosure. The difference amounts to $818.18.
While researching online complaints against Amerisave I have found that this interest bait and switch scheme is #1 complaint against Amerisave. Anyone wanting to conduct business with Amerisave should read the reviews on Consumeraffairs.com, BBB.org, and Sitejabber.com. If you don't care whether your interest rate goes up during your underwriting process, and if you don't care about being able to communicate with your loan originator or loan processor, the Amerisave will be just fine for you. Bryce openly lying to me during 4 separate conversations and made no apologies for it. Ultimately, his lies cost me $818.18 in points. The $818.18 would not have matter if he had been honest with me the 4 times I asked about locking the rate.

WARNING. AVOID AMERISAVE AT ALL COSTS.
READ ALL THE REVIEWS ARE THEY ARE WARNING YOU OF THE TRUTH. I DIDN'T READ AND I PAID THE PRICE.

I'm incredibly frustrated, upset, and confused about my experience with Amerisave and with your team, specifically Michelle Clark, and Chris Scianimanico.
Last week Michelle emailed me on the 24th of March to say the loan is in final underwriting and it should be done "this week" (4th or 5th time I've heard that one)I emailed on Friday of last week to ask for an update. No response. I emailed again Monday. No response. I emailed again yesterday. No response. All of these emails were to all 3 of you. All I'm doing is going off of YOUR words and asking for an update based on those words. This is approximately the 15th time that I reached out and have gotten no response back after multiple days.
Today I find out after calling Michelle that on the 24th the underwriter put in a note that it needs to be restructured. I didn't get any communication about this at all. And from what Michelle told me, no one took action on it, making this a entire week delay a totally avoidable, a delay upon delay that's already 8 months into this. This shouldn't take longer than a pregnancy.
I have no choice now but to call each of you every single day since I have zero trust or faith that anything will be done or any of my messages will be responded to or even read.
I also have no choice but to start filing BBB complaints and leaving detailed honest reviews about my experience with your team and you as individuals. I have so much energy from my anger that I will be spending the entire day doing this. I run a business based on integrity, trust and customer satisfaction and I am horrified about how you guys operate. I think everyone else needs to know as well before getting into a deal with Amerisave. The way things are done is totally unacceptable, it feels like a DMV from a 3rd world country but it's called Amerisave. All you guys have done so far is waste my time, not save.
I'm sorry about my harsh words but at the same time I'm not. I hope this is the honest feedback you guys need to change your ways.
Sincerely, Rao Fu

After 8 months and over 6 times being told "the loan should close this week", I'm being told the loan has to be restructured and now I am required to submit another year of tax filings. I'm done with the company.

In all my years of doing business I've never had an experience as bad as at Amerisave. I run a marketing company and as someone who is in position to rank a website for keywords like "amerisave" as a warning to all other potential customers, I feel a moral obligation to setup a website to collect and expose the real experiences of customers at Amerisave as from my research almost everyone is complaining of the same things. I also feel a moral obligation to speak to my lawyer about a class action lawsuit to compensate for all of our time and money lost.

I am completely done with this company and will never work with them again. I am in the process of filing complaints and reviews on as many platforms as possible.

I was very impressed with my loan officer as I began the loan process. He was easy to talk to and easy to get in touch with. One of the reasons that I chose Amerisave was the saving that I thought I was getting on the closing Costs. On 10/18 I was given the estimated closing costs of $3559. 00 which included a 1.97% Point cost of $1970. 00, after comparing to the other lending companies I decided that Amerisave was the best. Deal. On 10/22 I called the Loan Officer to discuss the closing costs and what other lenders were telling me and Made sure that what I was told on the 18th was accurate. All was confirmed and I was assured that the closting costs were indeed accurate. After the confirmation, I was no longer able to make contact with the loan officer. The processor person was wonderful and went out of her way to help me. The loan took about 60 days because even though I have excellent credit and assets WAY ABOVE the $100,000.00 I was asking for, the underwriting department kept asking for more and more information. When it was all said an done, I sent them 51 pages of information, it was a nightmare. On 12/20 they sent me the FINAL closing cost details which was $1,068.53 more than the 10/18 closing estimate. They were showing the points charge as 2.25 or $2251. 00 and they were erroneously charging me Property Taxes of $527.60. The processor told me she was not able to make any changes to the points they would have to go through the Loan Officer. I was not able to get in touch with him, so I called his manager who said he would look into the problems. Wonder of Wonders the loan officer did call me on 12/24 to say the points went up between 10/18 and 10/22 but I told him we had discussed the closing costs in great detail on the 22nd and he assured me they were accurate. He assured me that he would talk to his manager to see what could be done. My closing was scheduled for 12/26@8:00AM. Well, to no surprise I never heard from the loan officer again. As for the closing costs, the points remained at 2.25( instead of 1.97 like I was quoted) the property taxes were removed (that was the only good thing that happened), some how between the 12/20 FINAL Closing Costs and this 12/24 FINAL Closing Costs - they mysteriously came up with an additional $40.00 charge for deed Prep Fee, they increased the Recording Fees from 56.00 to 79.00. I'm sure they knew that I was just fed up with this whole ordeal and would just said OK, I surrender - You got me good. In Conclusion - be very ware of dealing with these people. Make sure you get everything in writing moment to moment. If they give you an estimate and you wait 30 minutes to make a decision make sure you get something new in writing showing the date and time of the commitment or just deal with someone else. As for me, I will never deal with this firm again. I really feel like they are very un-trustworthy.