Amerivalue Review
March 14, 2020 / Hollie Shuttlewood
Amerivalue Review
March 14, 2020 / Hollie Shuttlewood
Amerivalue Review
Advertising Disclosure
Amerivalue is a free online platform that matches home buyers with mortgage lenders. It boasts a massive network of hundreds of mortgage lenders – from national lenders to small, local lenders. After you complete the short online form, Amerivalue crunches your information and connects you to top lenders in seconds.
How it Works
Amerivalue is an aggregator, not a broker or lender. What this means is that Amerivalue collects your information and shares it with the brokers and lenders it thinks can offer you the best deals on your mortgage or refinance.
It takes only 2-3 minutes to fill out Amerivalue’s online form. Best of all, it won’t affect your credit score and you won’t need to submit any documentation.
Here are the questions you’ll need to answer:
  • Purchase or refinance
  • Property description (single family, multi family, town house, condo)
  • Estimated credit rating
  • Have you found a home or are you still looking?
  • Type of property (primary, vacation, investment)
  • Estimated home value
  • Down payment
  • Preferred loan type (fixed, adjustable, or both)
  • Have you had any bankruptcies/foreclosures in the past 3 years?
  • Can you verify your income?
  • Have you had any late payments in the past year?
  • Have you or your spouse served in the military?
  • Do you have a banking or credit account with a major bank?
After entering your contacts details (name, address, phone, email), just wait a few seconds for Amerivalue to generate results and send them to your inbox. You’ll also start receiving calls from lenders within a few hours of submitting the form.
Pros
Easy way of quickly comparing the market
Generates results in seconds
No social security number needed
Cons
You could receive lots of calls from lenders
Not an actual broker or lender
The number one reason to choose Amerivalue is that it lets you compare the market in seconds. You could go to each lender one by one and request a quote. Or you could let Amerivalue do the work for you, drawing on its network of hundreds of lenders to find you the best loan offers for your borrowing profile.
One downside to using a loan aggregator such as Amerivalue is the high likelihood that your phone will ring off the hook for a couple days. Amerivalue exists to connect you with lenders, so it stands to reason that it shares your data with lenders. If you don’t like the idea of getting constant calls from lenders or brokers, then you should avoid Amerivalue.
Types of Loans
Amerivalue’s partners offer every type of mortgage loan in existence. Through Amerivalue, you can find lenders willing to help you purchase a home or refinance an old mortgage. Most partners offer a choice between fixed and adjustable rates. Some of Amerivalue’s partners even offer home equity loans.
Here’s a full breakdown of the main home loans you can find through Amerivalue:
  • Conventional (conforming) loan
  • Jumbo loan
  • FHA loan
  • VA loan
  • USDA loan
  • Home equity loan / HELOC
  • Cash-out refinance
  • Reverse mortgage
Loan Features
Each lender in Amerivalue’s network determines its own loan features, and it’s fair to say these features vary significantly from lender to lender. Herein lies the main benefit of using the Amerivalue service: its platform lets you easily compare rates, terms, and loan features from different lenders.
Aside from being a matching service, the Amerivalue platform has two additional features worth mentioning here:
  • It offers a free overview of your credit score and history (link provided after you complete the Amerivalue online form)
  • It offers deals from third-party services closely related to the mortgage industry, such as ID theft protection and a review of your 401(k).
Rates and Terms
Amerivalue works with hundreds of lenders, so the rates and terms vary significantly. The great thing about Amerivalue is that it takes your borrower profile (based on your estimated credit score and other information your provide) and matches you with the lenders it thinks can give you the best rates. If you have a strong credit score, then Amerivalue should be able to find you APRs around the 3% mark. If your credit score is poor, then expect a higher APR.
Contact Amerivalue
Amerivalue is purely an online matching service, and does not offer any customer support. That means no contact phone number, no email, and no physical branches.
Summary
Starting out your mortgage search or having trouble finding a suitable lender? With a massive network of hundreds of mortgage lenders, Amerivalue can kick-start your search. The service is free to use and requires very little effort on your part. Simply fill out Amerivalue’s short online form (it only takes 2-3 minutes), and you’ll receive tailored results to your inbox in minutes.
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