AmeriSave Home Equity Review
An online home equity application from a lender that returns money on complaints far more often than its peers.
By Michael Hewitt, Founder & Editor-in-Chief.
Our verdict
Borrowers under a 680 score can start here: AmeriSave's minimum is 620, where Rocket's 680 turns them away, and it closes 26.8% of CFPB complaints with money returned. That relief rate can also mean more went wrong. Rates, fees and maximum loan-to-value aren't published, which holds it back, so confirm all three at application.
Skip it if you want rates, fees and loan-to-value limits published before you apply.
About AmeriSave Home Equity
An online home equity application from a lender that returns money on complaints far more often than its peers. AmeriSave Home Equity is offered by AmeriSave Mortgage Corporation. Our editorial rating is 3.3 out of 5.
Best for: Borrowers under a 680 score, or who want a lender that settles.
Editorial grade: C+ (composite score 65/100).
Highlights
- Minimum credit score of 620, as the lender states it
- Closes 26.8% of CFPB complaints with monetary relief
- Application runs online end to end
What we like
- 620 minimum takes borrowers Rocket's 680 turns away
- Returns money on complaints at more than ten times Rocket's rate
- Complaint volume has fallen sharply: 310 of 1,325 in the last three years
Where it falls short
- Answers 98.2% of complaints on time against 99.9% at Rocket
- A high monetary-relief rate can mean more went wrong, not only that it was fixed
- Rates, fees and maximum loan-to-value are not published
Fees, minimums, and rates
Monthly fee: Not published; confirm at application. Minimum to open: Not published. Rates and promotional offers change often, so check the provider's own page before you apply.
How we reviewed it
This is a desk review: we have not opened an account with AmeriSave Mortgage Corporation. It is built from AmeriSave Mortgage Corporation's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the HELOC shortlist. The rubric is the same for every brand.
Similar products to compare
- Rocket Mortgage Home Equity Loan review
- Figure HELOC review
- Bethpage FCU HELOC review
- Spring EQ HELOC review
Read our full editorial methodology for how we review products.