Questions?
866.970.SAVE
	Call Now. Open 24/7

Search Mortgage Purchase Rates

- No Personal Information Required


Loan Amount:	$
Property Value:	$

We apologize, but many features of our web site require that your browser have JavaScript enabled.

Please go to your browser's help files to learn how to enable JavaScript. After you have enabled JavaScript, you may continue

Also, our Loan Advisors are standing by to help you – please call us at 866.970.SAVE

Today's Mortgage Rates

November 20, 2008
Product	Rate	APR
30 Year Fixed	5.000	5.392
30 Year Fixed, Interest Only	5.375	5.746
15 Year Fixed	4.500	5.194
5 Year ARM	4.500	5.119
5 Year Interest Only ARM	4.500	5.115

Get Approved
FAST & EASY

Click Here for Details

Mortgage Purchase News

Posted: 09/30/08 9:20 AM

Mortgage Purchase News

The Standard & Poor's/Case-Shiller 20-city housing index released Tuesday fell a record 16.3 percent in July from the year-ago period, the largest drop since its inception in 2000. The 10-city index plunged 17.5 percent, its biggest decline. . .

Home Loan Pre-Qualification vs. Pre-Approval

While shopping for a home loan, brokers and lenders will offer to pre-qualify or pre- approve you for a mortgage. Home loan pre-qualification and pre-approval are different and distinct processes, so it is important for you to understand the difference.

Pre-Qualified

A loan officer or loan processor working for a mortgage lender or broker can typically pre-qualify you for a home loan within an hour. Getting pre-qualified for a home loan is a good first step that will let you know if you should proceed to the pre-approval process. To get pre-qualified you will need to complete a mortgage application and allow the broker or lender to pull your credit. They will review the mortgage application and your credit and let your know if you are pre-qualified.

Pre-Approved

Only a mortgage underwriter can pre-approve you for a home loan, loan officers and processors can not. Typically mortgage brokers do not have underwriters on staff, so they typically can not pre-approve your home loan. A valid pre-approval is the best tool you can have when shopping for a new home. The key is to ensure that it is valid. A valid pre-approval has been underwritten by an authorized underwriter (an underwriter is the final person that says your loan is approved). If an underwriter pre-approves your home loan application upfront, all you have to do is find the home you want, have it appraised, and then you should be able to close in just a few days. Some mortgage brokers and lenders will issue pre-approvals that have not been reviewed by an authorized underwriter, be sure to ask.

To get pre-approved for a home loan you will need to provide the underwriter with your income and asset documentation (W2’s, Bank Statements, etc). The underwriter will review your credit, mortgage application, documentation, and then approve you for a set loan amount and property value. Once you have been pre-approved for a home loan you are ready to start shopping. The process typically takes a couple of days.

Knowing exactly what type of home loan you can obtain will allow you to shop and negotiate with confidence. For example, you could inform a seller that you are pre- approved for the mortgage and you are prepared to close next week. If the seller needs to close quickly, it will not matter if there is another buyer that cannot close for weeks or months. Plus, sellers do not like to take their properties off of the market for long periods of time. The ability to close quickly is one way to get a great deal.

To get pre-approved for a home mortgage you will need to provide the underwriter with your income and asset documentation (W2’s, Bank Statements, etc). The underwriter will review your credit and then approve you for a set loan amount and property value. Once you have a pre-approved real estate mortgage you are ready to start shopping.

Other Useful Information

Purchase Home Loan Closing Costs
Shopping Home Loan Rates
Purchase Home Loan Calculators

Live Customer Satisfaction Survey

Read what customers say about our level of service.

Posted: 11/20/08 8:21 AM
The employees are friendly and very helpful. I don't know what I would have done if they did not help me daily with getting my loan processed. Great Company so far. Glad to do business with them.

Posted: 11/20/08 8:05 AM
As of now in the process, every thing has been handled promptly and clearly. I would recommend AmeriSave to other people looking to refinance or buying a new home.

Donald Counts

Posted: 11/19/08 3:58 PM
So far, Amerisave staff has stayed in touch and kept us updated.

Posted: 11/19/08 1:43 PM
Keep us well informed every step of the . . .

Links

FHA Mortgages	Reverse Mortgages
VA Mortgages	Fixed Rate Mortgages
USDA Mortgages	Mortgage Loans
Refinance	Mortgage Rates
Home Loans - Purchase
Mortgage Calculators
Online Mortgage Classes
The Amerisave Process
Weekly Market Commentary

Why You Should Choose Amerisave

	Upfront Mortgage Lender Certified
	Guaranteed Closing Costs in Writing
	$500 Low Rate Guarantee
	$1000 On-Time Closing Guarantee
	Underwriter Reviewed Pre-Approvals
	Save Money at Home Depot & Other Stores

In The News