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Direct Home Lending, founded in 2006, is an online and brick-and-mortar lender that offers loans in California, Colorado, Oregon and Washington. Legally known as PIC Capital, Inc., Direct Home Lending is headquartered in Corona, California.“Our company mission is to make lending a better experience,” says President and CEO Brian Sardarizadeh. “To accomplish this, our focus is on technology and customer service. We also pride ourselves in helping borrowers to clear obstacles that can challenge their ability to secure a loan.”
Available in California, Colorado, Oregon and Washington.
Minimum credit score
640 for conventional loans; 680 for jumbo loans; 550 for FHA loans; 550 for VA loans
Conventional fixed-rate and adjustable-rate (ARMs) mortgages, jumbo, FHA, VA and reverse mortgages. Refinancing options include rate-and-term refinancing, cash-out refinancing, and streamline (VA/FHA).
Underwriting approval in 24 hours or less for most loans
Closings usually within 14 days
Competitive rates and pricing
Nozero-closing cost options available
The website provides free personalized rate quote
Doesn’t offer USDA loans
Doesn’t offer home equity loans or home equity lines of credit (HELOCs)
Only available in four states
Find your mortgage match
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Conventional fixed-rate and adjustable-rate (ARMs) mortgages, jumbo, FHA, VA and reverse mortgages. Refinancing options include rate–and–term refinancing, cash-out refinancing, and streamline (VA/FHA).
Lender fees vary depending on loan type.
Minimum borrower requirements
Direct Home Lending adheres to the conforming loan requirements and underwriting guidelines for mortgages approved by GSEs, Fannie Mae, and Freddie Mac, as well as those backed by the FHA and VA. Requirements will vary based on the loan and borrower. In general, minimum FICO scores, minimum down payment and maximum debt-to-income ratio (or DTI, the percentage of your monthly gross income used to pay debts) can range from, respectively:
Conforming loans up to $510,400: 620 credit score minimum, 5 percent down, 50 percent DTI
Jumbo loans up to $2.5 million: 680 credit score minimum, 5 percent down, 43 percent DTI