Optimum First Mortgage Mortgage Review 2021

By Peter G. Miller

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

Optimum First Mortgage

NMLS: 240415

State License: MC-6741

3.6

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Bankrate Score

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Loans offered

Fixed-rate, adjustable-rate (ARM), FHA, VA, HARP 2.0, biweekly mortgages, reverse mortgages, stated-income mortgages; refinancing
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Nationwide availability

Available in Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Michigan, North Carolina, Ohio, Pennsylvania, Texas, Virginia and Washington
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Min. credit score required

620 for conventional loans

Pros and cons

Pros

  • Wide range of mortgage product choices
  • Online loan applications with help from mortgage loan officers
  • No layering on top of loan program requirements
  • Strong applicant approval

Cons

  • Not available in all states

Optimum First Mortgage overview

Optimum First Mortgage is a highly-rated mortgage lender, doing business in 14 states, that has originated more than 20,000 loans. The lender boasts a "Lifetime Rate Protection Guarantee," which allows borrowers to refinance eligible existing loans with the lender, with zero closing costs, if interest rates become lower over the course of their loan term. According to the lender, the majority of its mortgages are funded within 20 days. Established in 2008, Optimum First Mortgage is headquartered in Fountain Valley, California. It has two other branch offices in Maricopa, Arizona, and San Antonio, Texas.

Loan types

  • Fixed-rate
  • Adjustable-rate (ARM)
  • FHA
  • VA
  • HARP 2.0
  • Biweekly mortgages
  • Reverse mortgages
  • Stated-income mortgages
  • Refinancing

Lender fees

Optimum First Mortgage does not provide lender fee information on its website.

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). Depending on the loan, a minimum down payment of 3 percent is required.

Government requirements for FHA and VA loans are detailed here:

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Optimum First Mortgage consumer reviews

5.0

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457 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
449
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1
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Customer service rating

Knowledge
5.0
Level of service
4.9
Professionalism
4.9
Responsiveness
4.9

99% of reviews would recommend this lender

0 of 0 rates honored

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10 of 65 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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Easy Refi

GK | Monument, CO | 5/21/2020

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2nd REFI w/ this mort bkr - Peter DiFerdinand

E Levine | Los Angeles, Calif | 5/26/2020

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Awesome Experience

Anthony K | San Jose, CA | 6/3/2020

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Great Service

Bear | Los Angeles, CA | 6/5/2020

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Very professional and excellent communication

John | Bakersfield | 6/5/2020

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Great Service and Low Rate

gabe834 | Oxnard, CA | 6/5/2020

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Fabulous experience!!

L&S Smith | Northern California | 6/6/2020

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The Best!

Mark G. | 80439 | 6/18/2020

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Optimum First Always A Great Experience

Henrik Weinhold | Lake Balboa, CA | 6/18/2020

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Refinanced with Optimum

Vickie | Costa Mesa, CA | 6/23/2020