AmeriSave HELOC review: what the published terms say
Sagewise may be paid if you connect with AmeriSave through our comparison service. That doesn't change this review, and AmeriSave didn't write or approve it. How we make money
Our take
AmeriSave is an online mortgage lender that also offers HELOCs, home equity loans and cash-out refinancing. Its HELOC page lists a typical minimum credit score of 600 and combined loan-to-value up to 90%, with some restrictions.
May fit you if
- Borrowers with credit scores in the 600s who are often turned away elsewhere
- Homeowners who want to compare a HELOC, home equity loan and cash-out refinance with one lender
Look elsewhere if
- You want every fee itemized before you apply (AmeriSave doesn't publish fee amounts)
- You need a written maximum line amount today (its page lists two different figures)
We don't give star ratings yet. We'll publish our rating method first.
Key facts
AmeriSave Mortgage Corporation · NMLS #1168 · Look up licensing
- Products
- HELOC, home equity loan and cash-out refinance Source
- Credit score
- 600 typical minimum; scores above 740 tend to see the best rates Source
- Combined loan-to-value
- Up to 90% with your first mortgage; some restrictions apply Source
- Debt-to-income
- 43% to 50% or less, calculated as if the line is fully drawn Source
- Line amount
- The page lists lines up to $500,000 in one section and up to $350,000 in another; ask for the current limit Source
- Rate type
- Tied to the prime rate (variable margin above prime); the page also mentions fixed options Source
- Availability
- Not all products and options are available in all states Source
How it works
You apply online or by phone. AmeriSave's page describes a draw period followed by a repayment period of 10 to 20 years; it lists draw periods of 3, 5 or 10 years in one section and a 10-year interest-only period in another.
Expect to document income, for example recent pay stubs and W-2s, or tax returns if self-employed, plus asset statements. If your income is from Social Security, a pension or retirement accounts, ask what they accept.
Costs and fees
- Closing costs
- Closing costs apply but are typically lower than for first-lien loans; no amounts published Source
We don't list rates because they change daily. Your rate and costs depend on your credit, home value, location and the amount you borrow.
What AmeriSave says
These are the company's own claims. We haven't verified them.
- Rate check
- "No Commitment, Zero Credit Impact" to check options Source
Things to check before you apply
- Get the line amount, draw period, rate type and every fee in writing on your Loan Estimate, because the public page describes them inconsistently.
- If only an interest-only payment is required during the draw period, your payment will rise when repayment starts.
AmeriSave's HELOC page gives conflicting figures for the maximum line, loan-to-value and terms. We've shown both where they differ and will update this review when the page is corrected.
Sources and method
Every fact on this page comes from AmeriSave's own published pages, checked on October 19, 2026. Terms change, so confirm them with the company. Licensing can be checked on NMLS Consumer Access. Spot an error? Tell us. See our editorial standards.