AmeriHome Mortgage Review 2022

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Types of Loans Offered

Fixed-rate conforming, FHA, VA, jumbo, portfolio loans

AmeriHome Mortgages AmeriHome Mortgages

Types of Loans Offered

Fixed-rate conforming, FHA, VA, jumbo, portfolio loans

On AmeriHome Mortgage’s website

Types of Loans Offered

Fixed-rate conforming, FHA, VA, jumbo, portfolio loans

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Overall lender rating

Pros and cons

AmeriHome Mortgage interest rates and fees

AmeriHome doesn’t show sample rates or disclose lender fees on its website. To get an idea of ​​the rates this lender offers, you’ll need to use its “instant rate quote” tool.

To get an instant rate quote, you’ll provide your name, email, and phone number, in addition to some basic information about the type of home you want to buy. No credit inquiry is required to see a rate quote. Once you provide this information, you can see sample rates, monthly payments, and possible fees for a variety of loan options.

Compare to other mortgage lenders

AmeriHome vs. SoFi mortgages

Both AmeriHome and SoFi offer discounts for previous customers, though AmeriHome’s is worth more. AmeriHome’s AmeriWallet gives customers up to $1,000 off closing costs, while SoFi offers a $500 discount off its loan processing fee.

The caveat is that both are difficult for most people to qualify for: You’ll need to already have gotten a mortgage with AmeriHome to qualify for AmeriWallet. You must have a personal loan, student loan, or a $50,000 balance on a SoFi Invest account to qualify for SoFi’s discount.

AmeriHome might be the better choice if you’re looking for a wider range of mortgage options, while SoFi is a good option for those who want a simple online experience.

AmeriHome vs. Chase mortgages

Chase is a good mortgage lender for low-income and first-time homebuyers thanks to its DreaMaker mortgage, which allows 3% down payments, reduced mortgage insurance costs, and flexible credit requirements. The DreaMaker mortgage can also be combined with Chase’s Homebuyer Grant, which offers up to $5,000 in closing cost or down payment assistance.

AmeriHome may still be the better option if you need a portfolio loan or if you’re a previous AmeriHome customer, but Chase’s special mortgage and grant options make it a strong competitor.

How AmeriHome Mortgage works

AmeriHome Mortgage is available in 48 states and Washington, DC. If you’re buying or refinancing a home in Massachusetts or New York, you won’t be able to get a mortgage with this lender.

AmeriHome offers conforming, FHA, VA, jumbo, and portfolio loans.

Portfolio loans are mortgages that a lender keeps in their portfolio, rather than selling to another entity like Fannie Mae or Freddie Mac. Because these mortgages aren’t being sold, they can have less stringent or different qualification requirements than conforming mortgages. AmeriHome says its portfolio loans are geared toward those who need to sell their current home to purchase a new home, investors, self-employed borrowers, and retirees.

AmeriHome only lends fixed-rate loans, so you won’t be able to get an ARM with this lender. It offers a variety of term lengths on its mortgages, from 10 to 30 years.

You can get started with this lender online or over the phone.

If you’ve previously purchased or refinanced through AmeriHome, you’re eligible for its previous customer discount, called AmeriWallet. This discount gives previous customers $500 off lender fees and up to $500 off appraisal fees.

Is AmeriHome Mortgage trustworthy?

AmeriHome has an A+ rating from the Better Business Bureau. A strong BBB grade indicates a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices. This lender doesn’t have any recent public scandals.

On TrustPilot, AmeriHome has a 4.7 out of 5 star rating based on 2,476 customer reviews.

AmeriHome Mortgage FAQ

AmeriHome is a subsidiary of Western Alliance Bank. It was founded in 2013 by current CEO Jim Furash.

No, AmeriHome hasn’t changed its name. AmeriHome was acquired by Western Alliance Bank in 2021, but it didn’t change its name in the merger.

No, AmeriHome doesn’t have an app. Some lenders, like Rocket Mortgage, offer apps that let you apply and track your application status on your mobile device. If a mobile-first experience is important to you, you might want to check out our guide to the best online mortgage lenders.

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