First Mortgage Direct Review 2025

First Mortgage Direct, a division of Bison State Bank in Kansas, was founded in 2008 and is available to borrowers nationwide. The lender was founded on the principles of "honesty, integrity and experience," according to its website. The lender offers both conventional and government-backed home loans, as well as refinancing options. Notably, First Mortgage Direct doesn’t charge origination fees or other hidden costs or participate in any gimmicky specials or limited-time offers.

Pros and cons of First Mortgage Direct

Affordability: 4.9/5

Because of its competitive interest rates and no origination fees, First Mortgage Direct scores a near-perfect 4.9 out of 5 stars for affordability. It's uncertain whether the lender participates in HFA programs, which can help prospective homebuyers afford homes. 

• Interest rates: The specific rate you receive with First Mortgage Direct depends on your circumstances, such as loan amount, credit profile and down payment. This lender quotes a mortgage rate that’s below the national average.
• Down payment: Different loan types have different down payment requirements. Conventional loans with First Mortgage Direct require just 3 percent down, while FHA loans require a minimum of 3.5 percent. VA loans do not require a down payment. It's unclear whether the lender participates in HFA programs, which can help with down payment costs. 
• Fees and closing costs: Like many online-based lenders, First Mortgage Direct doesn’t charge an origination fee, so you’ll save some money on closing costs.

Availability: 5/5

Because First Mortgage Direct offers a wide variety of loans across a broad geographic footprint, it scored 5 out of 5 stars for availability.

• Home loans offered: The lender provides a variety of mortgage types, such as conventional loans and some government-backed mortgages, including VA and FHA loans. It also offers refinancing options.
• Footprint: First Mortgage Direct is licensed to originate mortgages in all U.S. states. 
• Where to find: You can start the mortgage process online by filling out a form or by calling to speak with a loan officer. 

Borrower experience: 3.9/5

First Mortgage Direct allows you to apply for a mortgage online and offers quick preapproval turnaround times. It also offers a way to get rate quotes online without needing to submit your email or wait for a loan officer to contact you. However, because of its 30-day rate lock window and few contact methods, the lender gets 3.9 out of 5 stars for borrower experience. 

• Application and preapproval process: You can apply for a prequalification and a mortgage online through First Mortgage Direct’s website. The lender's website features a selection of calculators, including those to compare renting versus owning, debt consolidation and home closing costs. However, the lender's standard rate lock window is only 30 days. 
• Transparency: By providing some information about your desired location, purchase price and down payment amount, you can get estimated rate quotes right on the lender's site. 
• Customer service: If you have questions about a loan, First Mortgage Direct loan officers are available Monday through Friday from 8 a.m. to 5 p.m. CT. But the lender only lists two contact methods: filling out an online form or calling to speak with a loan officer on the phone.

First Mortgage Direct is a small lender, so it hasn’t built the name recognition of its larger rivals. For example, the lender is not accredited by the Better Business Bureau and has not received a J.D. Power score. However, this lender is part of a federally insured bank. 

First Mortgage Direct offers both rate-and-term and cash-out refinancing options. There are no lender fees, but you’ll have to pay for third-party services, such as the home appraisal. The lender provides free customized refinance rate quotes once you provide some personal information. 

You can apply for a mortgage with First Mortgage Direct online or by phone at 855-222-5102. Here are some tips to prepare for the process:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. You’ll need to provide the address of the home and submit to a home appraisal. (If you’re refinancing, you might or might not need an appraisal.)