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Certified upFront Mortgage lender (UML)

Upfront Mortgage Lender Certified

Amerisave has been awarded the rare Upfront Mortgage Lender (UML) designation. The UML certification assures customers fair treatment in all dealings with Amerisave. Additionally, you are assured a fair and accurate interest rate and closing cost quote.

To be certified, Amerisave has met all of the UML requirements below. Read on to learn how Amerisave is dedicated to your satisfaction:

Requirement 1:A UML Must Provide Quick Access to the Market Niches it Prices On-Line.

The home loan market in the US is divided into millions of market niches and no one lender serves them all. Customers need a quick way to determine whether a particular lender prices the niche in which that customer lives. If not, the customer can go elsewhere without wasting time.

To see a list of Amerisave's market niche's click here: Amerisave Market Niches

Requirement 2: A UML discloses all lender fees, including points, origination fees, and any fixed-dollar fees, and guarantees them to closing.

This assures borrowers that price information is complete, and that new fees won't be added or existing ones increased after they have committed to working with the selected lender.

Requirement 3:A UML discloses all third party fees with the best estimates possible, indicating which if any are guaranteed by the UML.

Requirement 4:A UML Provides a Clear Explanation of its Lock Requirements.

Read about the Amerisave Rate Lock Policy.

Requirement 5:A UML discloses all the information about its ARMs needed by customers to make intelligent decisions.

Customers need information on potential ARM performance – what will happen to the interest rate and mortgage payment under assumptions about future interest rates that make sense to the customer.

Amerisave discloses the index and margin used, as well as the interest rate caps, on all ARM's we offer. Simply search rates and click on "view" under "loan details" for the loan program and interest rate in which you are interested.

Requirement 6:A UML informs borrowers if its loan originators are compensated in a way that gives them a financial incentive to overcharge the borrower.

Loan originators often benefit financially if they can induce the borrower to pay more than the prices posted by the lender or broker. Where this is the case, the borrower ought to know about it.

Mortgage Rate Quotes

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Today's Mortgage Rates

Loans up to $417,000 Rate* APR* Points*
30 Year Fixed 3.750 4.017 3.021
15 Year Fixed 2.625 3.165 3.524
7 Year ARM 2.500 2.964 3.987
5 Year ARM 2.125 2.856 3.910
FHA Rates Rate* APR* Points*
30 Year Fixed 3.250 4.423 1.616
15 Year Fixed 2.750 3.605 1.102
Veteran Loan Rates Rate* APR* Points*
30 Year Fixed 3.250 3.532 1.866
15 Year Fixed 2.750 3.163 1.226
USDA Rates Rate* APR* Points*
30 Year Fixed 3.250 3.861 2.238
*Rate/APR/Points for $260K loan, Massachusetts property, 740 FICO, 80% LTV, Rates effective 07/24/2014.
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  • Upfront Mortgage Lender
  • Fannie Mae Approved Lender
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