Optimum First Mortgage Review 2022
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At a glance

NMLS: 240415
State License: MC-6741
4.2
Bankrate Score
Loans offered
Conventional, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; HARP 2.0; flex-term; reverse mortgage; stated-income loanNationwide availability
Available in Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Michigan, North Carolina, Ohio, Pennsylvania, Texas, Virginia and WashingtonMin. credit score required
620 for conventional loansPros and cons
Pros
- Fast closing time
- Lifetime Rate Protection Guarantee eliminates closing costs if you refinance at a later date
- Wide range of loan terms available
- Issues credits to offset lender fees in most cases
Cons
- Only available in 14 states
Optimum First Mortgage overview
Optimum First Mortgage offers loans in 14 states and has originated more than 20,000 mortgages since its founding. Borrowers can receive same-day preapprovals and the lender guarantees on-time closings in as little as 10 days. In addition to offering above-average closing time speed, the lender sets itself apart with some unique loan offerings. Its fixed-rate loans come in a variety of terms: 8-, 10-, 12-, 15-, 20-, 22-, 27- and 30-year options. Optimum First is also a good option for self-employed borrowers, as the lender offers stated-income loans. The lender is headquartered in Fountain Valley, California, with a branch office in Maricopa, Arizona.
Good for
Borrowers who want a fast closing process, alternative loan options and rate protection for refinancing
Loan types
- Conventional
- FHA
- VA
- Fixed-rate
- Adjustable-rate
- Rate-and-term and cash-out refinancing
- HARP 2.0
- Flex-term
- Reverse mortgage
- Stated-income loan
Lender fees
Optimum First Mortgage aims to help borrowers avoid any lender fees by issuing credits. The lender says that credits either help offset or completely reimburse their fees approximately 90 percent of the time.
Rates
Optimum First Mortgage doesn’t publicly advertise mortgage rates on its website. However, you can get a quick quote by filling out a form online with a few details including loan amount, property value, loan type and credit history.
Online services
The Optimum First Mortgage website includes calculators to help you estimate monthly payments, determine whether you should pay points and understand potential tax benefits and other questions about buying a home. There is no simple preapproval or prequalification option online, but you can easily request to connect with a loan officer. An online application portal allows for easy document uploading. However, there is no option for e-signing at closing. (It’s done with a traditional, in-person notary.)
Minimum borrower requirements
Optimum First Mortgage adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).
For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and a minimum down payment of 3 percent. The requirements for FHA and VA loans are detailed here:
Stated-income loans come with additional requirements, including excellent credit and a sizable amount of cash reserves.
Refinancing with Optimum First Mortgage
Optimum First Mortgage offers refinancing, including a compelling offer for any of their borrowers. The lender’s Lifetime Rate Protection Guarantee is a big point of differentiation. The program allows anyone with an eligible loan with Optimum First to refinance with zero closing costs if interest rates drop over the course of the loan. So, for example, if you get a 30-year loan with a 3.6 percent interest rate and you can get a 2.8 percent interest rate five years later, you won’t pay any closing costs.
Not sure if Optimum First Mortgage is right for you? Consider these alternatives
- Homefinity mortgage review: Homefinity has more widespread availability than Optimum First, although its average closing time is slower.
- Rocket Mortgage review: This lender is one of the biggest names in mortgage and consistently receives high ratings from J.D. Power.
- LowRates.com mortgage review: This lender has fast closing times and boasts outstanding customer reviews.
- Bank of America mortgage review: This big bank is available everywhere and offers discounts on home loans to banking customers.
- HomePlus Mortgage review: HomePlus is a mortgage broker for borrowers in Arizona, California and Texas that can help match you with the best loan for your situation.
Breakdown of Optimum First Mortgage overall review score
- Affordability: 3/5
- Availability: 5/5
- Borrower experience: 4.7/5
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.
Optimum First Mortgage consumer reviews
5.0
601 reviews
Customer service rating
99% of reviews would recommend this lender
10 of 10 rates honored
Review this lender
Write a review of your experience with Optimum First Mortgage Inc.
10 of 137 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.
Outstanding customer service!
Dave M | San Carlos, CA | 6/10/2021
I started the refi loan application process on two properties within a few days of each other. One was with a large out-of-state lender and the other one was with Dan Rhomberg of Optimum First Mortgage. They were both selected based on the best interest rates for each of the properties. The contra...
Tiffany Buck is the best
Syed Rizvi | Bakersfield | 6/24/2021
Tiffany Buck has been my Loan Officer for quite some time now and have saved me, literally, hundreds of dollars per month by refinancing in the last 2 years. She is proactive, highly Professional and always very helpful. She is very responsive to queries even at odd times. I highly recommend Optimum...
Excellent follow through and commitment to their clients
Excellent experience | Pennsylvania | 7/6/2021
Alex Hall at OptimumFirst was a pleasure to work with. He always responded promptly to any questions we had. The entire process of refinancing was simple, from application to closing.
Jeff Olson- Optimum First??
Responsive & Knowledgeable | Fremont, CA | 7/8/2021
Jeff was very attentive, was always available and competent. I had been working with a different broker and was pleasantly surprised to come across Optimum and Jeff Olson. I have used Optimum in the past and am glad I reconnected. Jeff was very confident and reassuring that I could subordinate my HE...
The Right Place
Professional, quick to respond and provide update appropriately | Los Angeles | 7/13/2021
It has been a wonderful refinance experience. Mark Lowman is professional, quick to respond and provide update appropriately. I appreciate Mark for helping me to refinance and get more than my expectation. I will strongly refer him. Will be back.
Excellent Customer Service
Josh Ramirez | Oakley, California | 7/15/2021
Alfredo and his team at Optimum First were a pleasure to work with. They answered our questions promptly, were very organized throughout the entire refinance process, and met our needs to the best of their abilities. Excellent customer service. Thank you.
Excellent mortgage refinance service
Excellent mortgage refinance | Illinois | 7/20/2021
Optimum First Mortgage did an excellent job
Home refinance
Scott | Pennsylvania | 7/27/2021
Great communication from our broker Alex. He kept us up to date and in the loop on all decision or actions that needed to take place. In the end, we received a new loan with a great rate. Highly recommend Optimum First.
Peter Di Ferdinand
Thank goodness Peter Di Ferdinand is a very experienced loan officer as without him I don't know if | Alpine Meadows, CA | 7/27/2021
I just refinanced my primary home with Peter. There were some major glitches from some vendors but Peter stuck with me to finalize issues and get my loan funded. Experience really does matter when it comes to loan officers. Thanks Peter! Carol Kinman
Very responsive
Great service | Pittsburgh | 7/29/2021
Channing was great to work with throughout the entire process. He was very helpful and quick to respond to all of my questions, even on the weekends!