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First Mortgage Direct Review 2023

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At a glance

First Mortgage Direct

NMLS: 757416


Rating: 4.7 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

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


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

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

Pros and cons

Checkmark Pros

  • Customized online quote tool
  • No origination or hidden fees
  • Readily available loan officers via phone or email

Close X Cons

  • Preapprovals take slightly longer compared to other lenders
  • Not accredited by the Better Business Bureau

First Mortgage Direct overview

First Mortgage Direct, a division of Bison State Bank in Kansas, is available to borrowers nationwide. The lender was founded on the principles of "honesty, integrity and experience," according to its website. Notably, First Mortgage Direct doesn’t charge origination fees or other hidden costs or participate in any gimmicky specials or limited-time offers. Typically, qualified borrowers can obtain a preapproval in 48 hours (two business days), and purchase loan closings currently average 32 days.

First Mortgage Direct is good for

Borrowers interested a fast preapproval and a variety of mortgage options

Breakdown of First Mortgage Direct overall score

  • Affordability: First Mortgage Direct’s rates are in line with competitive rates from other lenders. Unlike others, however, it doesn’t charge an origination fee. To see this lender’s rates, you’ll first need to complete a short online form.
  • Availability: This lender does business in every state and has a diverse set of loan offerings for different kinds of borrowers, including investors.
  • Borrower experience: You can apply for a mortgage via the First Mortgage Direct website. Its business hours are limited to weekdays.


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.

Affordability: 5/5

Like many online-based lenders, First Mortgage Direct doesn’t charge an origination fee, so you’ll save some money on closing costs. The specific rate you receive with First Mortgage Direct will depend on your circumstances, such as loan amount, credit profile and down payment.

Availability: 4.8/5

First Mortgage Direct provides conventional loans as well as government-insured loans (FHA, VA and USDA), along with options to refinance your existing mortgage. It also offers investor loans. It is licensed to lend to borrowers in all 50 states.

Borrower experience: 4.5/5

First Mortgage Direct was founded in 2008 and has since funded $5.25 billion in loan volume. The lender is not accredited by the Better Business Bureau.

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 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.

If you have questions about a loan, loan officers are available Monday through Friday from 8 a.m. to 5 p.m. CT.

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.

Alternatives to First Mortgage Direct

First Mortgage Direct consumer reviews


NMLS: 757416


Rating: 4.7 stars out of 5

200 reviews

5 stars
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About consumer ratings

Customer service rating

Rating: 4.7 stars out of 5
Level of service
Rating: 4.7 stars out of 5
Rating: 4.7 stars out of 5
Rating: 4.7 stars out of 5

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.

of 13 reviews

The consumer reviews posted on ("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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Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor