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.
Borrowers who appreciate rate transparency and want lender credits to help lower some costs
- Rate-and-term and cash-out refinancing
ConsumerDirect Mortgage’s fees are not listed online, and the lender did not respond to requests for additional information. However, its website does indicate that its offers lender credits for some third-party costs, which can help you save money.
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 the amount of 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.
ConsumerDirect Mortgage is accredited by the Better Business Bureau with an A+ rating. Based on nearly 100 customer reviews, the lender scored a 4.71 out of five stars — some of the highest marks in the home loan industry.
The ConsumerDirect website isn’t as comprehensive as those of some of 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.
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Breakdown of ConsumerDirect Mortgage overall review score
- Affordability: 15/15
- Availability: 11/15
- Borrower experience: 9/10
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.