Optimum First 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

4.8

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Loans offered

Fixed-rate, adjustable-rate (ARM), conventional, jumbo, FHA, VA, HARP 2.0, biweekly mortgages, reverse mortgages, stated-income mortgages, non-QM, hard money; 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)
  • Conventional
  • Jumbo
  • FHA
  • VA
  • HARP 2.0
  • Biweekly mortgages
  • Reverse mortgages
  • Stated-income mortgages
  • Non-QM
  • Hard money
  • Refinancing

Lender fees

Optimum First Mortgage does not charge lender fees, such as an origination fee or application fee, on most loans.

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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474 reviews

5 stars
4 stars
3 stars
2 stars
1 stars
466
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3

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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Write a review of your experience with Optimum First Mortgage Inc.

10 of 57 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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Very helpful, no hype

Allen Robinson | Sacramento, CA | 8/7/2020

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Returning Client

Derek N | Sacramento, CA | 8/21/2020

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Great Rate-Painless and easy process

Pamela Bolin | Porter Ranch | 8/24/2020

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Great Refinance Experience!

E&A Ploessel | Fullerton, CA | 8/25/2020

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Initial Mortgage and Rate Protection promise

Tyler S | California | 8/25/2020

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Great experience

C. Murphy | Newport Beach | 8/26/2020

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Couldn't have gone better!!

Ochoa Family | Whittier, CA | 8/28/2020

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It was a great overall experience

Keith | Corona, CA | 9/8/2020

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Best choice for a refinance

Glen G | Placerville CA | 9/9/2020

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Exceptional Service and Teamwork

Ryan J. | Long Beach, CA | 9/13/2020