Lock & Shop

Get a rate you can count
on in 3 minutes

SHOP WITH CONFIDENCE

Shopping for your dream home is exciting… until you find yourself in a competitive market, unsure how much you can afford and unable to compete with buyers who already have a pre-approved loan lined up.

LOCKED IN FOR 90 DAYS

With AmeriSave’s Lock & Shop program, you can lock in your mortgage rate for up to 90 days.1

Locking in your rate before your first open house lets you shop with peace of mind, knowing you are protected against rising interest rates, and can estimate your monthly mortgage payment for a property you love.

PROTECTED WITH A $1,500 GUARANTEE

Once you find your dream home, you’ll be able to make an offer immediately with your AmeriSave Certified Approval, which gives buyer and seller the confidence of knowing you have financing available to you. If your loan doesn’t close through no fault of your own, we pay YOU $1,500. (See Certified Approval letter for terms, conditions, and exclusions.)

Get Approved

What is lock & shop?

Get approved lightning fast, keep your
mortgage rate for 90 days

Lock & Shop lets you start home shopping with the
confidence of knowing your mortgage interest rate
BEFORE you buy. Plus, your rate is locked and protected
for 90 days—even if interest rates increase!

Lock & Shop Lock & Shop

Why amerisave?

We’re Fast

We get that home shopping is stressful, especially in a competitive, fast-moving market—so we move faster. In as little as three minutes, you can find out what types of home loans and highly competitive rates you pre-qualify for. Receive our Certified Approval within a day of getting your mortgage rate quote, which demonstrates that you are well-qualified for your home loan financing.

No house? No worries!

Even if you haven’t found your dream home yet, you have time to shop worry-free knowing you have a competitive mortgage rate locked in and a Certified Approval for a mortgage within your price range. When you’re ready to buy, your mortgage is well on its way, too.

Your rate is protected

Other lenders will pre-qualify you for a loan—what’s also called “pre-qualification”—but most won’t commit to a rate until you’ve found your property and are under contract. If interest rates go up before your loan goes through, your rate could increase.

At AmeriSave, we can also give you a Certified Approval Letter2 that includes the underwriting approval of your credit and income - the next best thing to a cash offer when you’re shopping in a competitive housing market. Unlike a typical pre-qualification, our Certified Approval Letter gives you confidence that you will close at the amount you are pre-approved for, otherwise, we’ll pay you $1,500.

No house? No worries!

Even if you haven’t found your dream home yet, you have time to shop worry-free knowing you have a competitive mortgage rate locked in and a Certified Approval for a mortgage within your price range. When you’re ready to buy, your mortgage is well on its way, too.

SHOP WITH CONFIDENCE

1

Get a rate in 3 minutes

We make it easy. Just provide some basic information online about your home-buying plans and find out what your mortgage interest rate will be.

2

Same-day Qualification and Certified Approval

Most borrowers receive their Certified Approval within hours—a letter that confirms your qualifications as a borrower and shows sellers that you are a serious buyer.

3

Start shopping!

You are now qualified for a mortgage at a locked-in interest rate and plenty of time to shop for the perfect home. As long as you close your mortgage loan within the 90-day period, the rate you locked in, is the rate you get.

CERTIFIED CLOSING PROMISE3

An “approval” is great but means nothing if the loan doesn’t close. We
are so confident in our Certified Approval that we include a Certified
Closing Promise of $1,500—so you can feel confident, too.

Get Approved
Lock & Shop Lock & Shop

Frequently asked questions

You get pre-qualified—an early step in your home-buying or refinancing journey. When you begin the online application process, we can check your basic information, such as your credit score and how much you hope to borrow for a home. (We do not perform a “hard credit pull” at this stage, which is industry speak for checking your full credit history and which can affect your credit score.) In just a few minutes, you will receive a pre-qualification, which includes the interest rate and loan options that AmeriSave is likely to offer you.

Pre-qualification lets you know the rate and loan options that AmeriSave would likely offer you. Certified Approval means that we have underwritten, approved and certified that you are income - and credit - approved for your mortgage loan. Once you have Certified Approval and know your new mortgage rate (if you have chosen to lock your rate), you’ll be able to confidently calculate your monthly payment on any home you are considering purchasing.

AmeriSave’s Certified Approval process is fast. Our customers typically receive their approval letter in hours—not days.

If you opt for Lock & Shop and follow its terms and conditions, this rate should not change. Your rate could change, if, for example, you ultimately choose a property at a higher price than the loan amount you listed on your pre-qualification application. But if your loan closes within the 90-day period (meaning that you complete the negotiation, inspection, and other home buying steps well before the 90-day period expires, typically within 30 to 60 days of entering into the Lock and Shop agreement.) If your mortgage loan does not close through no fault of your own, we will pay you $1,500 as part of our Lock & Shop promise.

Two issues often make home shopping challenging for buyers.

  1. Sellers give preferential consideration to buyers who can pay cash or who are pre-approved by a mortgage lender. If you are a buyer without pre-approval, it is extremely difficult to compete against buyers who already have a loan lined up.

  2. You can’t know how much house you can afford if you don’t know your interest rate. When they start home shopping, buyers can’t predict what their mortgage rate will be two or more months down the road—even if they have received pre-qualification from a lender. With Lock & Shop, you have time to search for a new home with your interest rate protected. This lets you estimate your monthly mortgage payment as you shop for homes within your budget. When you find your perfect home, you can make a competitive bid immediately, armed with the knowledge that you have a loan and know exactly what you can afford.

Terms & Conditions

1). The loan must be closed and funded prior to the expiration of the rate lock. All loans are subject to credit approval. Not all products are eligible for Lock & Shop. Lock & Shop requires a $500 non-refundable upfront fee. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend.

2). The Certified Approval by AmeriSave should not be construed as a loan commitment or a final loan approval and is subject to the (1) identification of acceptable property; (2) our confirmation that your income and credit information that was Certified remains substantially the same through the loan closing; (3) if you have not already locked your rate, our confirmation that you remain eligible for the loan program once rate is locked; and (4) the sale of your present home if we have verified your assets / down payment utilizing those proceeds. Final loan approval is subject to our certification of acceptable property by obtaining satisfactory appraisal, survey, title report, evidence of property insurance, and any other information we may request, as well as confirming that there have been no significant changes in your financial circumstances since we issued your Certified Approval.

3).Certified Closing Promise. Following the issuance of your Certified Approval by AmeriSave to you, if you continue to meet eligibility requirements, your subject property meets guidelines, your loan program has not changed, and through no other fault, action, inaction or delay on your part, we certify to you that your loan will close. And if it does not, we will give you $1,500.

AmeriSave Mortgage Corporation, NMLS ID #1168, (www.nmlsconsumeraccess.org), Equal Housing Lender; Corporate Office: 3525 Piedmont Rd NE, 8 Piedmont Center - Suite 600, Atlanta, GA 30305. Additional licensing information may be found by clicking here on this "Licensing" link. For questions regarding state licensing, please contact (866) 970-7283. Not all products and options are available in all states. It does not originate mortgages for properties in NY. Terms are subject to change without notice. Some people portrayed are professional models.

* The advertised rate also assumes the borrower fully documents income, assets and liabilities, escrows for taxes and insurance, and there is no subordinate financing.

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