Entries by Kim Coaloa

How Do You Verify My Assets?

One of the biggest complaints from consumers is the hassle of collecting document after document for asset verification. AmeriSave offers paperless asset verification through AccountChek. Our priority is ensuring that the information we receive is safe, secure and accurate while providing exceptional customer service in a timely fashion. Assets are generally verified by bank statements and/or […]

How Does Credit Affect My Mortgage Rate?

When you apply for a mortgage, your credit will be pulled during the Application Process. What is AmeriSave’s minimum credit score? The minimum credit score for AmeriSave is 620 for our conventional products. FHA, VA, and USDA loans require a minimum credit score of 600. Which credit score is used to determine what I qualify […]

When Can I Refinance?

What is a cash-out refinance? If you have equity in your home — you owe less than the home is worth — you may be able to refinance and get some of the equity out in cash. Homeowners can use the cash for any reason, but a common use is for debt consolidation, or home […]

How Do I Get A Rate Quote?

How do I get a rate quote? You can obtain a rate quote without entering any personal information at AmeriSave.com. Click on “Get Rates” at the top of the screen, enter your property information information, click “Search” and the system will present you with rate quotes specific to the criteria you entered. Please be sure that […]

What Income Documentation Do I Need?

We require full documentation for conventional loans (including all income and assets). We do allow for limited documentation on FHA and VA streamlines. Acceptable types of income documents W-2 Generally, the income of W-2 borrowers is verified by obtaining copies of the last two pay stubs and copies of the last two years W-2 statements. […]

Why Do I Need An Appraisal?

The appraisal is a document from a state governed, state licensed appraisal professional that gives an estimate of a property’s fair market value based on the sales of comparable homes in the area and the features of a property.  An appraisal is generally required by a lender before loan approval to ensure that the mortgage […]

Helpful Tips

How To Compare Offers From Multiple Lenders First, make sure you are comparing current mortgage rates for the same type of mortgage. Mortgage rates and closing costs can change significantly from one day to another, so if you are comparing offers from multiple lenders it must be done on the same day. For example, if […]

Is Refinancing Right For You?

In today’s housing market, many homeowners may see advantages in refinancing their homes. Individuals impacted financially by the mortgage crisis in the early to mid-millennia have taken advantage of low rates and have refinanced, in some instances, multiple times. So, you may wonder, is refinancing right for you? Well, there are a number of things […]

Buying A Home With Student Loan Debt

The class of 2017 graduated college with an average of $37,172 in student loan debt; that’s up 6% from the previous year. In the coming months and years these students are going to find jobs, start families, and begin looking for their starter homes, with many of them still carrying a handsome amount of student […]