Overall great rate and above average customer service - just be aware of locking terms!
Written: May 15 '10 (Updated May 15 '10)
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I did some extensive searching for the best rate and Amerisave beat everyone by 1/8 of a percent and that was with no fees where most others had fees that started at $1200 and went up from there. I got 4.875 FHA with no point or fees and the float down option. My next best from another broker was 5.125 with $1200 in fees and no float. Needless to say, I was skeptical. All the good reviews didn't help much either since it looks like the majority of them just signed up to post 1 review (this one). Seemed fishy. I went ahead with it and was pleasantly supprised in the end. Good service and no suprises.
The only thing that I wish was more straightforward was the locking process. Call them first to find out what they need to get a rate lock and dont expect to apply and just lock a rate the same day unless you have given them all the necessary paperwork upfront. Also, when you get a rate quote, input your info on the front page and then on the page where it gives you quotes, it will enable an option to enter your credit score. DO THIS! The rate and terms weight heavly on the credit score. I got a quote with my 800 score and was offered over a $1K towards closing with 4.875% FHA. As soon as I added my wife with a score of 780, it dropped to $40 towards closing! Over $1k for 20 points!
After you get over that initial hump, they were responsive for the most part and stayed on top of me to get what they needed. In the end, my closing agent and realtor thought there was a mistake since the rate was so low, but they indeed held up their end of the bargin. Only last tip would be to lock with the 45 day term. When I did it, the 30 day and 45 day offerings were exactly the same. I ended up not needing the extra 15 days, but it was nice to have that cusion at no addational charge. Good luck with your house hunting!
Recommended:
Yes
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About the Author
Location: Clearwater, FL
Reviews written: 23
Trusted by: 1 member
About Me: I'm a civil engineer in FL. C Ya on epinions!
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