AmeriHome Mortgage Review 2022

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AmeriHome Mortgage AmeriHome Mortgage

Types of loans offered

Fixed rate matching, FHA, FHA, jumbo, wallet loans

AmeriHome Mortgage AmeriHome Mortgage

Types of loans offered

Fixed rate matching, FHA, FHA, jumbo, wallet loans

On the AmeriHome Mortgage website

Types of loans offered

Fixed rate matching, FHA, FHA, jumbo, wallet loans

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General rating of the lender

Pros and Cons

AmeriHome Mortgage Interest Rates and Fees

AmeriHome does not show typical rates or disclose lender fees on its website. To get an idea of ​​the rates offered by this lender, you will need to use the Spot Rates tool.

To get an instant quote, you’ll provide your name, email, and phone number, as well as some basic information about the type of home you want to buy. No credit inquiry required to know the quote price. Once you provide this information, you can see sample rates, monthly payments, and potential fees for a variety of loan options.

Compare to other mortgage lenders

AmeriHome vs. SoFi Mortgages

Both AmeriHome and SoFi Offers discounts for past customers, although AmeriHome is worth more. AmeriWallet from AmeriHome gives customers up to $1,000 in closing costs, while SoFi offers a $500 discount on loan processing fees.

The caveat is that both are difficult for most people to qualify for: You’ll actually need to get an AmeriHome mortgage to qualify for AmeriWallet. You must have a personal loan, student loan, or $50,000 credit in a SoFi Invest account to qualify for a SoFi discount.

AmeriHome may be the best option if you are looking for a wide range of mortgage options, while SoFi is a good option for those who want a simple online experience.

AmeriHome vs. Chase Mortgages

Chasing Is a good mortgage lender for people with low incomes and First time homebuyers Thanks to the DreaMaker Mortgage, which allows for 3% down payments, reduced mortgage insurance costs, and flexible credit requirements. The DreaMaker mortgage can also be combined with Chase’s Homebuyer Grant, which offers up to $5,000 in closing cost or down payment assistance.

AmeriHome may still be the best option if you need a portfolio loan or if you’re a former AmeriHome customer, but Chase’s grant and mortgage options make it a strong contender.

How does AmeriHome Mortgage work

AmeriHome mortgages are available in 48 states and Washington, DC. If you are buying or refinancing a home in Massachusetts or New York, you will not be able to get a mortgage from this lender.

AmeriHome Offers matchingAnd the FHAAnd the VirginiaAnd the jumboportfolio loans.

Portfolio loans are real estate loans that a lender keeps in their portfolio, rather than selling them to another entity such as Fannie Mae or Freddie Mac. Because these mortgages are not sold, they can have less stringent or different qualification requirements than matching mortgages. AmeriHome says its portfolio loans are geared toward those who need to sell their current home to buy a new one, investors, self-employed borrowers and retirees.

AmeriHome only lends Fixed rate loans, so you will not be able to get ARM with this lender. Offers a variety of lengths on mortgages, from 10 to 30 years.

You can get started with this lender online or over the phone.

If you have previously purchased or refinanced through AmeriHome, you are eligible for the previous customer discount, called the AmeriWallet. This discount gives previous clients $500 in lender fees and up to $500 in appraisal fees.

Is American Mortgage Trustworthy?

AmeriHome has an extension A+ . rating From the Better Business Bureau. A strong BBB score indicates that the company honestly advertises, responds effectively to customer complaints, and is transparent about business practices. This lender does not have any recent public scandals.

On TrustPilot, AmeriHome has a 4.7 out of 5 stars rating based on 2,476 customer reviews.

Frequently Asked Questions About AmeriHome Mortgage

AmeriHome is a subsidiary of Western Alliance Bank. It was founded in 2013 by current CEO Jim Forach.

No, AmeriHome has not changed its name. AmeriHome was acquired by Western Alliance Bank in 2021, but it did not change its name in the merger.

No, AmeriHome does not have an app. Some lenders, such as missile mortgage, offers applications that allow you to apply and track the status of the application on your mobile device. If mobile-first experience is important to you, you may want to check out our guide to Best Online Mortgage Lenders.

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