Amerisave - Declined after being "pre-approved with 802 credit score. Go with another company.
Update by user Dec 15, 2011
Amerisave has agreed to refund half of my $425 appraisal fee.
Original review posted by user Nov 30, 2011
My credit score is above 800 and I was declined.I was pre-approved and ultimately my loan was declined because my condo unit was only at 60% occupancy when the underwriter requires a 90% occupancy rate.
Of course they do not let you know this requirement until after you have paid $400+ for your appraisal and after you have increased your HO-6 coverage. This was after 2 months of trying to chase down the "mortgage specialist." The individual I dealt with was difficult to reach and was constantly on vacation.
My only hope is that the $700+ I loss after being "pre-approved" can somehow help to discourage other people from dealing with Amerisave.My advice is to go with Lending Tree or Quicken Loans.
Review about: Amerisave Mortgage.
Monetary Loss: $800.