Ameris Bank Mortgage Review

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Types of Loans Offered

Conforming, FHA, VA, USDA, jumbo, Ameris Dream, construction, rehabilitation, recent housing event, physician, bank statement, HELOC

Ameris Bank Ameris Bank Mortgages

Types of Loans Offered

Conforming, FHA, VA, USDA, jumbo, Ameris Dream, construction, rehabilitation, recent housing event, physician, bank statement, HELOC

Types of Loans Offered

Conforming, FHA, VA, USDA, jumbo, Ameris Dream, construction, rehabilitation, recent housing event, physician, bank statement, HELOC

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Overall lender rating

Pros and cons

Ameris Bank mortgage interest rates and fees

Ameris Bank doesn’t display any sample mortgage rates online. If you want to get a rate quote, you’ll need to reach out to an Ameris loan officer near you.

Ameris Bank charges a mortgage administrative fee that’s approximately $1,025. You’ll pay this in addition to any third-party closing costs you incur during the process of getting your mortgage.

Compare to other mortgage lenders

Ameris Bank vs. Guild Mortgage

Both of these lenders offer a remarkably wide range of mortgage products. If you have an unusual situation or are looking for a specific type of loan, the right fit may come down to which offers the mortgage you’re looking for.

Guild Mortgage is similar to Ameris Bank in that it also accepts non-traditional credit (like proof on-time rent or utility payments) from borrowers who have no traditional credit score through its Complete Rate program. Because of this benefit and its convenient online process, Guild is our top lender for first-time homebuyers.

However, if you’re struggling with your down payment, Ameris might be the better fit, thanks to the down payment grant it offers and its Ameris Dream mortgage, which allows 0% down with no mortgage insurance for eligible first-time homebuyers.

Ameris Bank vs. Bank of America mortgages

Bank of America and Ameris Bank both have similar offerings for cash-strapped first-time buyers. Bank of America offers down payment assistance up to $10,000 and closing cost assistance up to $7,500.

For borrowers who are having trouble qualifying through traditional means due to having a limited credit history or insufficient savings, Bank of America could be a good choice. Its Community Affordable Loan Solution requires no down payment and no closing costs, and you can use non-traditional credit to qualify.

Both of these lenders are affordable choices for first-time homebuyers, so it could be worth getting preapproved with both. But Ameris could be the better choice overall if you’re looking for a wider range of loan options to choose from.

How Ameris Bank mortgages work

To get a mortgage with Ameris Bank, you’ll need to search on the lender’s website for a loan officer near you. Then, you can get started over the phone or online. If you prefer to apply in person, you may visit one of the bank’s physical branches in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, or Virginia.

Ameris Bank lends mortgages in 46 states and Washington, DC. It isn’t available to borrowers in Alaska, Hawaii, Maine, or New York.

Ameris Bank offers basic mortgage types, including conforming, FHA, VA, USDA, and jumbo mortgages, as well as more niche products. It has both construction and construction-to-permanent loans, rehabilitation loans, and medical professional mortgages.

Its Bank Statement Advantage program is a good option for self-employed borrowers who need to use bank statements to show their income. It also offers a Recent Housing Event mortgage for borrowers who have experienced a “housing event” (this could include a foreclosure or short sale) due to financial hardship.

The Ameris Dream mortgage is for first-time homebuyers who meet income and location requirements. It allows up to 100% financing with no mortgage insurance. Ameris Bank also offers a down payment grant of up to $12,500. The grant is a second mortgage that will be fully forgiven as long as you stay in your home for at least five years.

This lender also offers home equity lines of credit (HELOCs).

Ameris Bank lets borrowers with no or limited credit apply with non-traditional credit on some of its loans. The lender may look at your rent payment history or evaluate your cash flow using bank statement data to establish your creditworthiness in lieu of a traditional credit score.

Is Ameris Bank trustworthy?

Ameris Bank currently has a C rating from the Better Business Bureau due to having two complaints filed against the business and a failure to respond to one complaint. The BBB measures trustworthiness based on response to customer complaints, honesty in advertising, and transparency about business practices.

Ameris Bank has no recent public scandals.

On its Zillow lender page, Ameris has a 4.95 out of 5-star rating, based on 854 online customer reviews.

Ameris Bank Mortgage FAQ

Ameris Bank is a strong and affordable lender, particularly for first-time homebuyers. But whether it’s a good fit for you depends on your needs, your financial situation, and what kind of rate you can get. It’s a good idea to shop around with multiple lenders to see which one suits your needs and is the most affordable.

Ameris Bank is a subsidiary of Ameris Bancorp. Its current CEO is Palmer Proctor.

On its mortgages, Ameris Bank charges an administrative fee. This fee is approximately $1,025.

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