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ConsumerDirect Mortgage Refinance Review


ConsumersAdvocate.org Rating: 4.7 / 5 (Excellent)
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Based in Delray Beach, Florida, ConsumerDirect Mortgage provides consumers with customized quotes for both their home purchase and refinancing needs. The company was founded in 2012 as a division of the FirstBank a publicly traded, FDIC-insured bank based in Nashville, Tennessee, with more than 112 years of experience in the industry.
 
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How is ConsumerDirect Mortgage rated?

Breakdown

5.0/5
Loan Variety
4.6/5
Ease of Process
4.5/5
Customer Service and Reputation
3.5/5
Discounts and fees

Overall Rating: 4.7 / 5 (Excellent)

ConsumerDirect Mortgage's selection of loan options and plans make it a solid alternative for anyone looking to refinance their home. The company features a wide variety of loan terms and programs that consumers can choose from. Additionally, one of the company's greatest assets is its fast and easy quoting service, by which consumers can prequalify for loans that are generated based on their specific refinancing needs. Another big plus for ConsumerDirect is the overwhelmingly positive reception from customers online. We recommend ConsumerDirect Mortgage for consumers who want a fast, straightforward way of qualifying for a loan and meeting their refinancing needs.

Loan Options

Lender Type
Bank
Loans Offered
Rate & Term
Cash-out
Refinance
Loan Programs
FHA
VA
Conventional
Jumbo
Fixed Year Terms
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Variety - 5 / 5

Consumers can apply for two different types of refinancing through ConsumerDirect Mortgage: rate & term refinance or cash-out refinance. A customer's refinance loan program can be conventional, jumbo, FHA, or VA depending on their needs and what they qualify for. Those interested in finding out if they are eligible for a specific type of refinancing can pre-qualify on the company's website. The terms available for ConsumerDirect Mortgage refinancing are many. Fixed terms include 30, 25, 20, 15, and 10 years, while adjustable terms include 10, 7, and 5. The minimum amount for any loan with the company is $50,000.

Application Process

Minimum Credit Score
600

Ease of Process - 4.6 / 5

The application process for refinancing loans from ConsumerDirect Mortgage is remarkably fast. After choosing the kind of loan they want, consumers will be directed to the website's Custom Rate Quote page. There, they can see numerous quotes that are generated based on their specific loan requirements and needs. Users can specify a variety of details including their property's value, preexisting mortgage balance, credit score, property use and type, and desired loan term. Users can also generate quotes that include cash-out refinancing, VA, and FHA options and have lock periods of 30, 45, or 60 days. Each custom quote includes an estimated rate, monthly payment amount, APR, and Lender Fee/(Credits). The minimum credit score that shows up in the quote generator's dropdown menu is 600.

ConsumerDirect Mortgage Reputation

Memberships & Regulatory Info.

Memberships
FDIC
Nationwide Mortgage Licensing System ID
472433
Nationwide Mortgage Regulatory Actions
0
NMLS Collection Date
2018-12-11
CFPB Total Mortgage Complaints
0
CFPB Collection Date
2018-12-11
Total VA Loans Written (Q1 2017)
254 loans
Total VA Loan Amount (Q1 2017)
$60,052,807

Online Reviews

BBB Rating
A+
Date Collected
2018-12-11

Customer Service and Reputation - 4.5 / 5

Founded in 2012 as a division of FirstBank, ConsumerDirect Mortgage boasts a positive reputation. The NMLS shows no regulator reported administrative or enforcement actions against the company and it does not show up at all in the CFPB. It is also a member of the Federal Deposit Insurance Corporation. On the Better Business Bureau, the company holds an A+, is currently accredited, and displays very favorable customer reviews as a whole. This is also true for many other review gateways, where ConsumerDirect Mortgage enjoys very good customer feedback.

Contact & Additional Information

Homepage URL
https://cdmtg.com/
Company Phone
(855) 790-7811
Headquarters Address
220 Congress Park Drive STE 140, Delray Beach, FL, 33445
Year Founded
2012

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