Amerivalue mortgage review ”2019” | finder.com

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Amerivalue mortgage review

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Complete a questionnaire for quotes from multiple lenders.

Amerivalue is a matching service that connects potential home buyers and mortgage lenders. But some customers have complained of multiple unwanted calls and emails after filling out the questionnaire.

Details

Loan types Purchase, Refinance, Jumbo, Home Equity, Fixed, Adjustable, VA
Minimum credit 680
Minimum down payment 3%
Origination fee N/A
Other fees You pay nothing in fees to use the Amerivalue website.

Should you choose a lender, the fees vary depending on your loan, financial situation and the lender. And you’ll only know the cost after you apply and compare lenders’ offers.

Pros

  • Quotes from multiple lenders.
  • No hard pull.

Cons

  • Potential phone call and email spam.
  • No visual comparison.
  • High credit score requirements.
  • Fees unknown until you apply.
There are almost no user reviews online regarding Amerivalue. But LeadPoint the company that owns Amerivalue is rated A+ by the Better Business Bureau where it’s been accredited since 2006.

Nine complaints and four reviews stand on the BBB website and revolve around getting spam email from the company. This is common when marketplaces share your info with multiple lenders.

What types of loans does Amerivalue offer?

Amerivalue can connect you with several different mortgage types, including:

Conventional

The most common mortgage type, conventional mortgages generally range in length from 15 to 30 years, and may be available with a fixed or adjustable interest rate.

VA

VA loans are available to qualifying veterans, military service members and select military spouses and can get you into a home with $0 down.

Jumbo

A jumbo loan is any loan too big to be bought out by government lenders Fannie Mae and Freddie Mac. As of 2019, in most counties any loan over $484,350 is considered a jumbo loan.

Other loan types

  • Refinance. Refinance your current mortgage to get a better interest rate or change your loan term.
  • Home equity. Tap into the equity you’ve built up in your home.

Amerivalue fees

Amerivalue doesn’t charge any fees, but any lender you’re matched with through the site likely will. Closing costs generally range from 2% to 5% of the home’s price, and can include:

  • Application fee
  • Origination fee
  • Rate lock fee
  • Underwriting fee
  • Ongoing fees
  • Third party fees

Requirements

To get a quote you need to have a credit score of 680 or higher. If you do, fill out a questionnaire to get offers from lenders that you’ll likely qualify with.

Documentation

Amerivalue requires no personal documentation to give you quotes. If you decide to apply for one of the loans offered to you, you may need:
  • Credit history
  • Bank statements
  • Renting history
  • Credit history
  • Bank statements
  • Renting history

Pros and cons of Amerivalue

Pros

  • Quotes from multiple lenders. You can get quotes from up to five lenders, saving you time from applying on your own.
  • No hard pull. You can get a quote without using your Social Security number, so there’s no hard pull on your credit.

Cons

  • Potential phone call and email spam. Customers report that they received phone calls and email spam from the company’s owner, LeadPoint.
  • No visual comparison. After you give Amerivalue your information, you have to just sit back and wait for lenders to contact you, and then compare them on your own. There’s no central hub where you can see all lenders, compare lender reviews or see all of the interest rates you’re eligible for.
  • High credit score requirements. To get a quote, you need to have a credit score of 680 or higher.
  • Fees unknown until you apply. Once you fill out the questionnaire and get your quotes, then you’ll find out the fees you’ll pay on your mortgage.

Compare to other lenders

Name Product Min. credit score State availability Loans offered
620
Available in all states
Purchase, Refinance, Home Equity, HELOC, Jumbo, Reverse, Fixed, Adjustable, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
620
Not available in: HI, MA, NV, NY, ND, UT
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Explore financing options and home shopping services all on the same website.
620
Not available in: HI, NY
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA, Reverse
A hassle-free lender specialized in home loans.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Flexible options, fast approvals and support online backed by a trusted brand.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA
A subsidiary of CIT Group, CIT Bank is a direct lender that offers a variety of mortgage loan options.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

How to get a home loan with Amerivalue

To get quotes:

  1. Visit the Amerivalue website.
  2. Select a mortgage loan or a refinancing loan.
    Amerivalue Application process screen 2
  3. Choose property type and what kind of property are you looking to buy — primary or investment property.
    Amerivalue Application process screen 3
  4. Provide information about the cost of the property and your down payment.
    Amerivalue Application process screen 4
  5. Answer financial questions about your credit score and financial history.
    Amerivalue Application process screen 5
  6. Enter your full name and contact information.
    Amerivalue Application process screen 6
  7. Receive mortgage loan quotes from lenders.

What is Amerivalue?

Amerivalue isn’t a direct lender. Instead, connects potential homebuyers with lenders, and by submitting your phone number and email, you’re giving consent to receive marketing calls and emails.

Its parent company, LeadPoint, has an A+ rating with the BBB, but only one out of five stars — although with only four reviews, it’s hard to say how customers feel.

But the site has had several legal issues since 2008. Its license was revoked in Indiana, it allegedly operated without a license and was fined in New Hampshire and it allegedly sold customer leads to advertisers that were not licensed as deposit originators in California.

Bottom line

With Amerivalue, you can get multiple mortgage loan offers on one website. There are no fees for this service but the contact information you provide can be used for marketing.

If Amerivalue isn’t for you, check out other mortgage lenders and compare your options.

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