AmeriSave Mortgage Review

A large online lender with a $19.3M CFPB bait-and-switch order behind it, still advertising on rate locks.

About AmeriSave Mortgage

A large online lender with a $19.3M CFPB bait-and-switch order behind it, still advertising on rate locks. AmeriSave Mortgage is offered by AmeriSave Mortgage Corporation (NMLS #1168) and currently holds an average rating of 3.2 out of 5 across 1,751 user reviews. It falls into the Purchase Mortgage category and tends to be the strongest fit for borrowers who will compare the loan estimate against the quote line by line.

Editorial grade: B- (composite score 68/100).

Highlights

CFPB consent order (docket 2014-CFPB-0010): $19.3M for a deceptive bait-and-switch mortgage-lending scheme the Bureau said harmed tens of thousands of consumers
1,751 CFPB complaints all-time, 376 in the last three years
95.7% of recent complaints answered on time — the lowest on-time rate of any lender in this group, all of whom else are at 100%
11.7% of recent complaints closed with money back, which means a real share of them were substantiated

What we like

Genuinely large: the company states over $130 billion funded across 23 years
Fully online application with same-day rate quotes
The 11.7% monetary-relief rate means complaints that are upheld do get paid, which is better than a lender that settles nothing

Where it falls short

The federal enforcement record is about the exact thing this offer advertises — quoted rates and rate-lock protection
39 recent complaints about improper use of a credit report and 24 about incorrect credit reporting: a pattern for a lender marketing instant quotes
70 recent complaints about trouble during the payment process and 45 from borrowers struggling to pay

Fees, minimums, and rates

Monthly fee: Not published; quoted on your Loan Estimate. Minimum to open: Not stated. Rates and promotional offers change often, so we re-verify every listed number on a rolling schedule and stamp the review with the date of the most recent check.

How we reviewed it

For this review of AmeriSave Mortgage, our editors funded an account, walked through the full onboarding flow, and compared the experience to the other products in the Purchase Mortgage shortlist. Scores are not influenced by affiliate relationships — partners cannot pay for better rankings, and our rubric is the same for every brand.

Similar products to compare

Read our full editorial methodology and advertiser disclosure for more on how we fund our testing and why that matters for the reviews you read here.