ConsumerDirect Mortgage Review 2022
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At a glance
NMLS: 2389303
4.7
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing
Nationwide Availability
Available in all U.S. states (except Maryland)
Min. credit score required
620 for conventional loans; 600 for FHA loans
Pros and cons
Pros
- Convenient rate quote estimate that doesn’t require sharing name and email address
- Excellent past customer reviews and an A+ rating from the Better Business Bureau
- Majority of loans include lender credit to help cover third-party costs
Cons
- Borrower requirements and lender fees not listed online
- No USDA loans
ConsumerDirect overview
ConsumerDirect Mortgage is appropriately named: It’s the consumer-direct online lending division of FirstBank, which is a traditional FDIC-insured bank with more than 80 branches in four states and nearly $12 billion in assets. ConsumerDirect is headquartered in Delray Beach, Florida, and offers the basic menu of loan options.
Good for
Borrowers who appreciate rate transparency and want lender credits to help lower some costs
Loan types
- Conventional
- Jumbo
- FHA
- VA
- Fixed-rate
- Adjustable-rate
- Rate-and-term and cash-out refinancing
Lender fees
ConsumerDirect Mortgage’s fees are not listed online; however, its website does indicate that it offers lender credits for some third-party costs, which can help you save money.
Rates
ConsumerDirect’s mortgage rates are easily accessible online and regularly updated. You can obtain estimates based on the amount you’re looking to borrow, your credit score, the type of property and its location without sharing your personal details. Pay attention to the APR and lender fees associated with each different estimate. For example, you might be able to cut the lender fees by 90 percent in exchange for paying a 0.2 percent higher APR on a 30-year loan.
Online services
The ConsumerDirect website isn’t as comprehensive as those of some other lenders, but the rate quote tool is a key point of differentiation. You can easily apply online, too.
Minimum borrower requirements
While ConsumerDirect Mortgage does not publish minimum borrower requirements online, its rate quote tool shows that borrowers looking for a conventional loan will need a 620 credit score, at minimum, and FHA borrowers will need at least a 600.
Refinancing with ConsumerDirect Mortgage
ConsumerDirect offers both rate-and-term and cash-out refinancing options, and rates are advertised on its website. Notably, the lender has helped more than 10,000 borrowers refinance.
Not sure if ConsumerDirect Mortgage is right for you? Consider these alternatives
- BNC National Bank mortgage review: Another consumer-direct division of a traditional brick-and-mortar bank and specializes in VA loans
- Optimum First Mortgage review: Not as widely available, but also boasts high customer satisfaction and offers lender credits
- Homefinity mortgage review: Outstanding customer reviews and similar credit score requirements
- Lower mortgage review: Great customer reviews on Bankrate and a similarly transparent approach to rates
- NBKC Bank mortgage review: Exceptional reviews from thousands of past customers, but rates are not publicly advertised
Breakdown of ConsumerDirect Mortgage overall review score
- Affordability: 5/5
- Availability: 4.5/5
- Borrower experience: 4.7/5
Review methodology
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
ConsumerDirect consumer reviews
NMLS: 2389303
4.8
951 reviews
About consumer ratings
Hover for moreCustomer service rating
95% of reviews would recommend this lender
3 of 3 rates honored
Review this lender
Write a review of your experience with ConsumerDirect.
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.
Written by
David McMillin
Contributing writer
David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.