First Mortgage Direct Review 2022
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for
At a glance
NMLS: 757416
4.1
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment propertyNationwide 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 WashingtonMin. credit score required
620 for conventional loans; 580 for FHA loans; 580 for VA loansPros 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
- LoanMonkey mortgage review: Offers instant underwriting decisions
- NBKC Bank mortgage review: On-time loan closing guarantee or you and the seller get $2,500 each
- Better.com mortgage review: Like First Mortgage Direct, this lender doesn’t charge commissions or fees
- Navy Federal Credit Union mortgage review: Below-market rates for military members and families
- Wyndham Capital Mortgage review: Offers on-demand preapprovals and e-closings
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
194 reviews
Customer service rating
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 18 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 experience with FMD
Timely. Professional. Helpful. | Ashburn, VA | 8/11/2021
I started my Refi process about a month back. Tyler Epley reached out to me after I filled out information on bankrate. I was a bit overwhelmed with the calls I was receiving, but first thing first, FMD rates looked great. It was a breeze from this point on. Tyler was able to help me out through t...
Handled my special circumstances excellently
Scott R. | Houston, TX | 8/21/2021
FMD was the only one of four mortgage lenders I tried who could understand my special circumstances. I just retired, and haven't withdrawn any money from my savings yet, and underwriters at other lenders couldn't see past my lack of "income" history. The very professional lender I worked with at F...
Great communication
Diane S | Greenville, SC | 10/10/2021
Kerrie was so easy to work with and she genuinely cared about my purchase. She always made sure I was well informed and I was able to close with no headache!
Refinancing with First Mortgage Direct
Refinancing | North Carolina | 10/18/2021
Kerrie Coggins-Beller, was a joy to work with. She was very responsive and extremely pleasant when dealing with us. We have done this exercise over 9 times and Kerrie has been the best. I will recommend her to all of our friends looking to refinance.
Refinance
Steve | Olney | 10/26/2021
Kerrie was amazing, easy going, and honest in our dealings with her. She explained the process and got us the best deal possible. Would highly recommend her 10 times out of 10!
Great Experience
Steve Cermak | Marietta, Georgia | 4/14/2022
Had a great experience with first mortgage direct. Realtors advised us that using local brokers would make our offer more competitive. I didn’t want to pay the higher rates our local brokers were charging. Kerrie with first mortgage direct provided a concierge level of service that no other broker...
Great rate, fast close
AJ | North Carolina | 4/20/2022
Kerrie helped us lock in a great mortgage rate right as prices started to rise. She or someone from her team were quick to respond to us when we had questions, and always reachable by phone or email. The application required a lot of documents but the submission portal was easy to use and Kerrie's a...
Very responsive & best rates
Leah | Baltimore | 5/7/2022
I was very pleased with my experience working with Kerrie Coggins-Beller. She was so friendly and easy to work with. She explained complex things in an easy-to-understand manner, and was incredibly responsive to my needs in this hot market where inventory is moving quickly. Couldn't be happier!
Smooth Home Loan Process
Smooth closing with First Mortgage Direct | Hockley, TX | 6/15/2022
Scott Spicer and his team did a great job in getting my loan processed and closed. I was kept informed every step of the way. Information required for loan approval was easy to upload through the lender's portal. Overall it was an efficient and smooth process.
Fantastic experience
Chris | California | 6/21/2022
Katie Sabutis and the rest of the team at First Mortage Direct (Bison State Bank) did a really great job. Katie was super responsive and helpful and went above and beyond to get us to closing. Their online portal is easy to use and they are clear about their documentation requirements. They may n...