Amerisave requires a $35.00 application
deposit for a pre-qualification or pre-approval. This deposit will be applied toward your total
closing costs and charges incurred during the processing of your loan, but will not be refunded if
you cancel your loan or your loan is declined in final underwriting.
Lock Process:
Prior to locking a rate, Amerisave reviews your credit and submits your application through an Automated Underwriting (AU) system.
We only proceed with your rate lock when we have received income and asset documentation, and in some instances the complete appraisal.
Amerisave will then send you an email confirming the rate lock. If the pricing you requested is no longer available, an Amerisave Loan Advisor will contact you immediately.
Rate-Lock Extensions
Amerisave informs each customer of the minimum lock period, in days, in which Amerisave needs to
complete the customer's unique loan request. In the event we are unable to close your loan within
the rate lock period and your rate lock expires, you will be notified and given the choice to extend
your lock period or cancel your loan request.
The cost of extending your rate lock period varies with current market conditions and different
investing banks and lenders. Depending on the circumstances you may be able to extend your rate lock
for free or a fee may be required. If your rate lock expires as a direct result of an action taken
or not taken by Amerisave, Amerisave will absorb any cost associated with extending your rate lock.
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Also, our Loan Advisors are standing by to help you - please call us at 866.970.SAVE
