Complaint / review text:
In an effort to Refinance, we chose Amerisave because it had a website that enabled us to easily see costs and watch interest rates. We contacted the Rep and dove into the process, filled out the application and submitted our required paperwork. The rep quickly ordered a credit check and appraisal. Our credit is A and it checked out at around 800 average and our appraisal came in $300K over what our Refinance amount was. Our appraisal cost $450 and the Credit check was $13.50. After 6 weeks, we were denied a loan with them! The reason? They said their investors didn't lend on our Zoning of Residential/AG! For most people, this zoning would be a benefit as it allows us a horse, which we don't have! Anyway, they can have their rules, but something so obvious as zoning (which is public record) should be a qualification question - especially if we can be denied based on it!
We are out our appraisal and credit report money & time and interest rate! We contacted a new lender and are about to close, but we had to pay for a new appraisal & credit report - not to mention the energy, effort, time and loss of a quarter of a point in interest rate. Amerisave should have had our pre-approval solid before ordering an appraisal for our house. We are so angry! Stay away from them - they are dirty dealing!