Real Genius Mortgage Review 2023

Breakdown of Real Genius overall score

• Affordability: Real Genius is a direct lender that offers competitive rates compared to Bankrate’s averages. Although there are lender fees, you might be eligible for a credit to either offset or eliminate this cost entirely.
• Availability: Real Genius works with borrowers in the majority of states.
• Borrower experience: You can easily compare rates and other cost information via the Real Genius website, and the lender has high marks from past customers.

• Methodology

  Bankrate's expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.

  Bankrate's reporters and editors have decades of experience covering the mortgage industry. They're skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here's how we assess each of the categories:

  • Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender's lowest advertised annual percentage rate (APR) based on Bankrate's sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
  • Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
  • Customer experience. Finally, we delve into what it's like to deal with the lender as a consumer. We look at the lender's application process and availability of customer service support. We also consider the results of J.D. Power's 2022 Mortgage Origination Satisfaction Survey.

  Bankrate's editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.

  Bankrate's methodology page spells out our rating process in greater detail.

Affordability: 5/5

Real Genius’ mortgage rates are competitive against Bankrate’s averages, easily accessible online and updated regularly. You can obtain estimates based on the amount you’re looking to borrow, your credit score, the type of property and its location without sharing your personal details. The lender’s origination fee runs $675, but lender credits typically offset this cost.

Availability: 4.5/5

Real Genius is available in most states and maintains branch locations in the Southeast. It offers conventional loans as well as some government-insured loans (FHA and VA), along with options to refinance your existing mortgage. It also offers jumbo loans and help with investment property financing.

Borrower experience: 4.5/5

Real Genius has been in business for 10 years (originally as ConsumerDirect Mortgage) and is accredited by the Better Business Bureau with an A+ rating. The lender was acquired by FirstBank in 2013. It has worked with more than 51,000 borrowers to date on $16 billion in loans. Along with the ability to see custom rate quotes in real time, Real Genius’ technology streamlines the process to allow for faster closings and lower costs. If you have questions about a mortgage, you can call 855-790-7811.

Refinancing with Real Genius

Real Genius offers both rate-and-term and cash-out refinancing options, and rates are advertised on its website. With a cash-out you might be able to tap up to 80 percent of your home’s value (more if you’re doing a VA refinance).

Alternatives to Real Genius

• BNC National Bank mortgage review – Another consumer-direct division of a traditional brick-and-mortar bank, and specializes in VA loans
• Optimum First Mortgage review – Not as widely available, but also boasts high customer satisfaction and offers lender credits
• Homefinity mortgage review – Outstanding customer reviews and similar credit score requirements