Lender review
AmeriSave Mortgage review: what Michigan borrowers should know
Best for: self-directed borrowers who want online rate quotes without a call
- Headquarters
- Atlanta, GA
- Founded
- 2002
- NMLS
- #1168
- Min. credit score
- 620
- Min. down payment
- 3%
AmeriSave is one of the largest online mortgage lenders and one of the few that lets Michigan borrowers pull real rate quotes online without a phone call first. It even keeps a Michigan branch. The digital-first model suits confident, self-directed buyers, but the flip side is uneven service and complaints about rate-lock and fee handling.
Rate shoppers who hate the phone tend to gravitate toward AmeriSave. Almost alone among the large online lenders, it lets you generate a genuine quote on its site before anyone tries to reach you, which suits Michigan buyers who'd rather compare numbers at midnight than schedule a callback.
The Atlanta-based operation carries a full agency menu, USDA and jumbo included, and it even keeps a Michigan branch on the map, so it isn't purely a faceless portal. For a confident borrower who knows their own file, that self-serve model closes loans quickly and cleanly.
Where it stumbles is the human layer. Complaints cluster around rate-lock changes that move mid-process and appraisal fees that catch people off guard, and the hands-off style leaves little support if your file turns complicated. First-timers who want someone walking them through each step may find the experience thin.
What works
- Instant online rate quotes without speaking to a loan officer
- Full product lineup including USDA and jumbo
- Maintains a Michigan branch alongside its online platform
What to watch
- Complaints about rate-lock changes and appraisal fees
- Digital-first model offers limited hand-holding
- Customer-service consistency is a recurring gripe
Loan programs at AmeriSave Mortgage
Which core Michigan loan types AmeriSave Mortgage offers, with the typical minimum down payment for each program. Program floors are industry standards — AmeriSave Mortgage's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | ✓ Yes | 0% |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Where AmeriSave Mortgage's credit bar sits
AmeriSave Mortgage's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| AmeriSave Mortgage | Michigan median* | |
|---|---|---|
| Editorial score | 3.9 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 5 | 5 |
| Michigan-headquartered | No | — |
*Median across the 55 Michigan lenders in our catalog.
How AmeriSave Mortgage's rates and offers compare
Before committing, pull a same-day quote from at least two competitors — pricing gaps of 0.25% are common for identical borrowers. Start with Cardinal Financial, Freedom Mortgage or Union Home Mortgage, then compare Loan Estimates line by line. See where rates sit this week in our Michigan rate table.
AmeriSave Mortgage: frequently asked questions
What are AmeriSave Mortgage's mortgage rates in Michigan?
AmeriSave Mortgage doesn't post one rate — like every lender, its pricing turns on your credit score, down payment, loan size and the day you lock. Ask for a personalized quote to see the number you'd actually get. The reliable move: pull a written Loan Estimate from AmeriSave Mortgage and set it beside this week's Michigan averages in our rate table, comparing on the same day.
Is AmeriSave Mortgage a legitimate mortgage lender?
Yes. AmeriSave Mortgage is a licensed mortgage lender registered under NMLS #1168 and lending since 2002. Its license — and any past enforcement actions — take seconds to check at NMLS Consumer Access. Our unpaid editorial review rates it 3.9/5 for Michigan buyers — no lender pays for placement.
What credit score do you need for a AmeriSave Mortgage mortgage?
AmeriSave Mortgage generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. Because overlays vary lender to lender, treat 620 as a starting point rather than a guarantee.
Does AmeriSave Mortgage offer FHA, VA and USDA loans?
AmeriSave Mortgage offers FHA, VA and USDA loans to Michigan borrowers. It covers the full government-loan menu. Its complete Michigan lineup is Conventional, FHA, VA, USDA, Jumbo.
Does AmeriSave Mortgage lend in Michigan?
Yes. Although AmeriSave Mortgage is headquartered in Atlanta, GA, it is licensed to lend in Michigan and actively originates purchase and refinance loans across the state, from metro Detroit to the Upper Peninsula.
Will AmeriSave Mortgage sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask AmeriSave Mortgage directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — AmeriSave Mortgage did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-01 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#1168).