I refinanced with Amerisave back in 2004 and it was a great experience, so when rates recently (Oct) dropped, I went directly to them to refinance again. This time it was a totally different experience.
To begin with their web page where you can look up rates is deceptive.in order to find the true rates, you must change the credit score located on one edge of the page in small print to your credit score and changing it from a perfect score of 800 to your score dramatically changes their rate quotes. But what finally drove me away was that after applying for the refinance on Wed of one week, getting the appraisal done on Friday of that same week, I went back on Monday the following week to lock in my rate ONLY to find that between Wed and Mon, their points for the loan jumped from 3/4 of a point to 2-1/4 points. That drove the cost to complete the refinance out of sight.
To make it worse, I discovered after complaining about the hike in the points that although their rate lock was good for 30 days, it typically took them 60-90 days to close a loan, so the rate lock was worthless.
I was duped and feel cheated especially as I still had to pay for the appraisal. As I said I had a good experience in so perhaps the company has changed ownership or management since then. I definitely would NOT do business with them.
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