ConsumerDirect Mortgage Review 2021
Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
At a glance
NMLS: 472433
4.2
Bankrate Score
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Find my best matchesLoans offered
Conventional, FHA, VA, jumbo, ARMs; refinancing options include rate-and-term refinancing and cash-out refinancingNationwide availability
Available in all U.S. states except MarylandMin. credit score required
620 for conventional loans; 600 for FHA loans; 700 for jumbo loansPros and cons
Pros
- Online application and service available
- Loan options include fixed-rate, adjustable-rate (ARM), VA, FHA and jumbo mortgages and mortgage refinancing options
- First-time homebuyer programs available
Cons
- Only three brick-and-mortar locations
ConsumerDirect overview
ConsumerDirect Mortgage, a division of FirstBank (based in Nashville, Tennessee), is an online lender that was established in 2012. FirstBank is a publicly traded, 115- year-old, FDIC-insured bank with more than $11 billion in total assets. ConsumerDirect Mortgage offers the basic menu of loan options, both conventional and government-insured such as FHA and VA loans. Lender credit is available for borrowers’ closing costs on a majority of their loans, which can help save borrowers money. ConsumerDirect Mortgage is headquartered in Delray Beach, Florida.
Loan types
- Conventional
- FHA
- VA
- Jumbo
- ARMs
- Rate-and-term refinancing
- Cash-out refinancing
Lender fees
ConsumerDirect Mortgage fees vary by loan type. The lender doesn’t charge origination fees, according to a ConsumerDirect spokesperson.
Minimum borrower requirements
ConsumerDirect Mortgage adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). Depending on the loan, a minimum down payment of 3 percent is required, according to a spokesperson.
For FHA and VA loans, requirements are set by the government. You can find them here:
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ConsumerDirect consumer reviews
4.8
945 reviews
Customer service rating
95% of reviews would recommend this lender
0 of 0 rates honored
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3 of 3 reviews
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Excellent all around
Stacy | Conway, AR | 5/12/2021
Excellent service from start to finish. Phillip Blasi was hands on and available to answers just about any query about the process. The processor Nate Picone was equally excellent. The made the process of obtaining a loan and the purchase of the home easy to understand!
Nothing but stress and trouble
CLL | Minnesota | 4/27/2021
Nothing but stress and trouble after signing the initial papers in November 2020. Was told we would close the first of February 2021. Incompetent with information. Duplicate requests for already submitted documents. Did not close until mid-March. Incompetent with paperwork. Has not sent our "req...
Response from ConsumerDirect Mortgage
First off, my sincerest apologies that you had such a poor experience. We strive to provide 5 star service to every customer regardless of the situation. We'd love to talk to you and get your feedback so that we can address the issues internally. Please feel free to give us a call at 704 209 4435. Respectfully, Jamie A Thornton - Director, Online Mortgage Lending
Worst mortgage provider ever
Worst experience ever | Atlanta, GA | 6/28/2021
Don't trust these guys - they took forever to close on your loan, poor communications and worst of all, makes a lot of excuses and shift all of the blames to you. Don't ever work with these guys.
Response from ConsumerDirect Mortgage
We apologize that you experienced these frustrations during the loan process. If you would like to discuss these items in detail, please feel free to reach out to our customer advocate team at 704-209-4435.