We chose Amerisave because their closing costs were supposedly much lower than their competitors and they had a good Better Business Bureau rating. I became suspicious after they began a loan process, charged us $375 for an appraisal and then we were told that we would be charged another $500 if for any reason the loan did not go through. After being told that we qualified, and after sending pretty much every single item of financial information to them for the last 10 years, we were suddenly stonewalled by outrageous requests for more documentation. I became suspicious and told them that they would not get any further documentations (we already had submitted a hundred pages or more) unles they could guarantee me that they were sincere about going forward with the loan. I never heard from them again. It was an expensive lesson, hopefully my experience will prevent someone else from getting scammed.

In Sept. 201o I decided it might be a good time to refinance my 30 year mortgage to a 15 year. Unfortunately I chose Amerisave Mortgage to do this. I stated the process, send all the documentation they asked for (w2's, tax returns, pay stubs etc.). My credit score is 815 and I wasn't taking any cash out. I have enough cash assets to pay off the mortgage if I choose and job that pays 100k/year. Seems simple, yes? I assumed that within 6-8 weeks the process would be complete, but no... Appraisers were sent to my property twice, because for some reason the first one was unable to do the appraisal. This took one month. After two months the underwriting group was asking me for essentially the same documentation I sent from the beginning. I replied that I sent it already, but for some reason the underwriter didn't have it. Okay, so, is all my personal information including ssn floating around Amerisave somewhere? Comforting. About 1 day after this latest incident, I decided that they didn't really seem to know what they were doing and I sent a note to withdraw my application. Two weeks later I receive a confirmation of the withdrawal and denial of credit. Okay, fine. I'm sure at this point they have now messed up my credit score too, but I can live with that.

Another week passes and I receive a notification from my credit card company that Amerisave has posted a $500 charge to my account. Why, you ask? Nothing on the cancellation email, nothing on the application informing me of this charge. Long story short, after disputing charge via credit card - find out the is some sort of rate-lock charge - seriously?

All I can really say is, please DO NOT do business with this company, they are inept and will find ways to charge you whether or not you actually get a mortgage from them or not. Buyer beware!

It took 4 months to finally close. My contacts at Amerisave were incompetent and uncaring. I could give MANY examples - I have MANY emails showing MANY problems. The first closing attempt failed due to mistakes on the closing documents and had to be rescheduled. I have been through 8 closings in my life and this was EASILY the most frustrating of them all. Again, over 4 MONTHS to get this done!!!

I applied for a loan on the first of September. One of the first documents that I had to suppy was the contract for purchase. The contract clearly stated it was due by the 16th of September. If this was an impossible date for them to make a committment I feel they should have communicated that with me. I supplied them with all of the paperwork they requested usually within the hour. Some of the paperwork I had to send twice. We have excellent credit and were putting 20% down. It appraised for $57, 000 more than we were borrowing. Nothing in that aspect to hold up an approval. When the contract date was due I pleaded with them to just get a letter of committment since I was pre-approved. I just received e-mails that both of my loan officers were out of the office for the rest of the week. Fearing that I might lose the house, I applied elsewhere just in case. I had to get a one week extention. The other company had a letter of committment in four days. I still got nowhere with Amerisave. After having to cancel, which I feel they cancelled on me, they charged me with a $500 cancellation fee. I do understand that I signed a loan/lock cancellation fee document but it does not tell you what that time frame is. I have tried everything to get an answer but I am not getting one. So, if you have to close within a time period you should stay away from Amerisave Mortgage.

I was in the process of refinancing my mortgage and looking for the BEST rates available. I already was about to close with another lender when I saw an AD for amerisave.

I took a look at it and contacted amerisave and began asking questions.

I spoke with a gentleman with the initials HM (name not disclosed for privacy) there from the start. From April 20-23, I have 43 emails in my INBOX from HM.

The very first one starts with this question I asked: "A bank gave me a new refi offer of 4.375%,
$2263 monthly total with tax and escrow, And 15yr term. Can you do better?"

HMs response was: "of course click on the link below to get rates"

So from there the emails began. I am not a broker nor do I know much about mortgages, rates, and so on, so I proceeded to ask every detail I was confused about. I did not want to LOSE out on my other lender and needed to make sure amerisaves pricing is actually what they tell me before I paid any fees.

After several emails and a few phone conversations, HM sent me this email: "Go ahead and complete the application and pay for the appraisal. Call me if you have any questions."

Still not convinced, I did more research and continued with my emails to HM. Email after email, HM was persistant. I kept asking him are there any hidden fees, anything that can change my rate once I paid, he kept insisting that is what it is. The application states to enter your home value and loan needed. How do I know my home value? I can only go by what I have on my paperwork from my last appraisal, right?

Only two years ago I did my mortgage and Chase appraised my home for $350K. So all I did is enter this info in the application. HM NEVER told me if your home value dropped then the rates will be higher than what you see. He just wanted to lure me in so kept pushing the LOW rates on me. So being unaware of this, I finally ended up paying the fees and applied. After 43 emails of HM telling me he has a better rate, and before the appraisal came, he REDID the quote for me at $2233/mo, and I was satisfied. But once the appraisal returned at $285k, the monthly rate was MUCH higher!

I requested for a refund, but was totally declined. I told them I was mislead and misguided. Amerisave did not want to listen to anything. I even told them my other lender appraised my home for $335k. This was like taking candy from a baby for them. I am clueless when it comes to mortgages. It was HMs job to tell me what surprises lies ahead and certain criteria needs to be met before those rates apply. I was not steered properly.

I would keep away from this company totally. I wish I can post my 43 emails to show you just how badly I was lead. THanks