First Mortgage Direct Review 2022

Written by
Bankrate
Edited By

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At a glance

First Mortgage Direct

NMLS: 244476

State License: MC-5877

4.1

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Bankrate Score

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Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property
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Nationwide availability

Available in California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Kansas, Maryland, Missouri, Nebraska, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Washington
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Min. credit score required

620 for conventional loans; 580 for FHA loans; 580 for VA loans

Pros and cons

Pros

  • Borrowers assigned readily available loan officer to work with via phone or email
  • No origination or hidden fees
  • Loans for purchases, first-time homebuyers and refinancing

Cons

  • Not available in every state
  • Limited call center hours for general inquiries

First Mortgage Direct overview

First Mortgage Direct is the online lending division of First Mortgage Solutions, a brick-and-mortar lender based in Kansas City, Missouri. The lender was founded on the principles of honesty, integrity and experience, with loan officers available to consult with and educate clients throughout the financing process. Notably, the lender doesn’t charge origination fees or other hidden costs, nor participate in any gimmicky specials or limited-time offers. Typically, qualified borrowers can obtain a preapproval within 48 hours, and purchase loans generally close within 30 days (refinances within 60). First Mortgage Direct is currently licensed in 20 states.

Good for

Borrowers looking for fast preapprovals, responsive email support and a variety of mortgage options

Loan types

  • Conventional
  • Jumbo
  • FHA
  • VA
  • USDA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term, cash-out and streamline refinancing
  • Home equity loan
  • Investment property

Lender fees

First Mortgage Direct doesn’t charge any lender fees. Borrowers can choose to pay discount points for a lower rate.

Rates 

First Mortgage Direct advertises rates on its website. Your individual rate will depend on your circumstances, such as loan amount, credit profile and down payment.

Online services

Borrowers can apply for a loan online through First Mortgage Direct’s website and are able to ask questions throughout the process via email or phone. The lender offers online preapprovals within one to two days, and its website features a selection of calculators, including rent versus own, debt consolidation and home closing costs, to help you weigh different scenarios.

Minimum borrower requirements

Following Fannie Mae and Freddie Mac guidelines, borrowers must have a credit score of at least 620 for a conventional loan and at least 3 percent available for a down payment. Borrowers cannot exceed a debt-to-income ratio (DTI) of 50 percent for a conventional loan.

For FHA, VA and USDA loans, those requirements are set by the government. You can find them here:

Refinancing with First Mortgage Direct

First Mortgage Direct offers rate-and-term, cash-out and streamline refinancing, and you can apply for a refinance online. There are no lender fees, but you’ll have to pay for third-party services, such as the appraisal.

Not sure if First Mortgage Direct is right for you? Consider these alternatives

Breakdown of First Mortgage Direct overall review score

  • Affordability: 3/5
  • Availability: 5/5
  • Borrower experience: 4.3/5

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.

First Mortgage Direct consumer reviews

4.7

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191 reviews

5 stars
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175
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11

Customer service rating

Knowledge
4.7
Level of service
4.7
Professionalism
4.7
Responsiveness
4.7

92% of reviews would recommend this lender

10 of 10 rates honored

Review this lender

Write a review of your experience with First Mortgage Direct.

10 of 27 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.

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Excellent expereince

Ash K. | Wayne, NJ | 6/1/2021

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Surprisingly Exceptional Service

SteveM | NJ | 6/7/2021

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Amazing Experience & Excellent Service!

Yetnayet Demessie | 8230 Jepson Place, Alexandria, VA 22309 | 6/11/2021

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Impressed

Excellent communication and responsiveness | Denver, CO | 6/18/2021

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Great experience, great service, rapid close

Great experience, very satisfied | Virginia | 6/25/2021

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Great Rates, Professional Guidance, and Fast Service

Great rate, with cash out! | Austin, Texas | 6/27/2021

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Fantastic Experience - Would 100% recommend

Kevin | Charlotte, NC | 6/28/2021

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Great experience

Jay | Austin | 6/29/2021

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Highly recommend working with Tyler Epley and Gwen Robertson, no matter where you are in the States!

Highly recommend working with Tyler Epley and Gwen Robertson, no matter where you are in the States! | Norwood, NJ | 7/8/2021

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Kerri Coggins is A on service all the way around!!

Kerri Coggins was amazing to work with | Austin tx | 7/12/2021