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Best online mortgage lenders

How to find the best online mortgage lender for your needs

Resources / June 2, 2021

In even the craziest, most fast-paced real estate market, it’s important to have trusted experts in your corner. Whether you are a first-time homebuyer or looking to refinance your mortgage, it’s difficult to find the best online mortgage lenders or to know whom to trust to give you the best mortgage options.

At First Mortgage Direct, we pride ourselves in providing secure, reliable online home financing options to our clients around the country. We do so by sticking to our three pillars of honesty, integrity and experience.

What our pillars mean for your loan process

We’re not just blowing smoke when we say our focus is on honesty, integrity, and experience. Each of those statements are at the heart of what we do at FMD and why many consider us to be one of the best online mortgage lenders in the nation. 

Honesty

Let’s be real. Online mortgage lenders have taken a lot of heat over the past few years because of some dishonest tactics. It can be difficult to know who is actually looking out for your best interest and who is just trying to make a payday.

First Mortgage Direct isn’t the kind of lender to promise you an “amazing low rate” just to get you in the door. Our responsibility is to guide you through the process. We originate, process and fund each mortgage with our company’s money and sell them on the secondary mortgage market.

No games. No gimmicks. No hidden fees. Our first and only goal is to provide you with the mortgage shopping experience you deserve.

Integrity

As further proof that FMD isn’t just concerned with our profits, we don’t charge a lender fee. What determines our success is finding you the best online mortgage rates—not how many nickels and dimes we get on the back end. If a certain mortgage doesn’t make sense for you, we won’t pressure you into taking it. Period. 

Our company started in 2008, a time when trust in mortgage lenders was at an all-time low. We strive to be better than the average online mortgage lender. We work directly with each client to ensure we provide consistent service in line with our principles.

Don’t just take our word for it, either. We have ratings of 4.8 stars in mortgage lender reviews on Zillow and 4.6 stars on Bankrate, both higher than the industry average. We also recently received an award from Expertise.com as one of the best mortgage refinance companies in Kansas City. Search around and you will find that our surveys and customer comments are all typically glowing, something in which we take immense pride.

Experience

We aren’t just online mortgage lenders; we’re homeowners, too. Our team understands that buying a home can be one of the most exciting, yet stressful times in your life, particularly for first-time home buyers. We intimately understand the emotions that come with searching for a house, the frustrations of an offer falling through, and the elation of finding your perfect home.

Our team of experienced loan consultants know what you are going through, because they have been through it themselves. Our loan officers average more than 10 years of experience in the industry. In that time, they’ve helped countless clients just like you find online mortgage loans to secure their financial futures. 

We only hire the best of the best who fit our culture of better serving buyers and clients. We have best-in-industry service and we will get purchases done when they need to get done.

Meet the FMD team

Diverse group of laughing businesspeople reading graphs and paperwork together during a meeting at a boardroom table in an office

The benefits of a “team” approach to home financing

Based in Kansas City, First Mortgage Direct is passionate about our teams. From the Chiefs to the Royals and Sporting KC, we love to cheer on our teams and watch them achieve their goals. 

We bring that exact same energy and approach to our home mortgage lending process. We provide each client with a dedicated team that includes a loan officer, sales associate, processor, and closer to rely on.

Our loan officers work with our sales associates, who are responsible for borrower communication. They will be your main point of contact throughout the process. Every question you have, every rumor you hear about, and every ledge you need to be talked down from, they’re here to help. That’s because we know communication is crucial both to keep up with the fast-paced nature of the real estate market and to ease your peace of mind. 

Once you have an accepted offer, our in-house staff is dedicated to making sure you reach your closing date on time. We do this through diligent communication with both the client and realtors. Even better, our 100% digital processing experience allows us to get your loan closed even quicker. 

The online mortgage process, from an actual lender

Step one: Tell us about yourself

Before even applying for a loan, we want you to start by reaching out to us. This is so we can get a better understanding of what you are looking for and what your specific mortgage lending needs are. 

Every client is unique, even if you have the same budget in the same market as someone else. You need someone who can watch your back and truly understand your wants, needs, and dreams for your home, including:

  • Your budget
  • Areas you are searching
  • Home size
  • School districts
Step two: Apply for your mortgage online

We have a quick and easy online application that takes just a few minutes to fill out. There’s even an option to upload supporting documents, like bank statements and tax returns, through our secure portal. That means there’s no need to spend hours searching for and scanning stuff! This portal also works for our online home refinancing process as well, and at this point we will lock your rate. 

Step three: Processing your mortgage

This is the part that requires the most communication and where we work together to keep your closing goals on-track. Your loan consultant and their loan processor will be in contact with you regularly to get information and keep you updated on what’s happening. 

This part also requires you to track down tax returns and retirement account statements (which we know can be a drag). However, the quicker we have all of that, the quicker you can get your loan! 🙌

Step four: Underwriting

This is where First Mortgage Direct sets itself apart from other online mortgage lending services. At this point, other services might send off your account to be underwritten somewhere else.

Part of what makes us unique is a highly experienced staff that works together in a centralized location. Instead of needing to write an email to an underwriter, we can simply walk over to their office to check in. We can also pre-underwrite a file and issue a commitment letter, giving you a much stronger chance of selling. 

Because of our immense experience and team-based approach, we can help resolve any situation that may come up. That gives us an advantage over other online lenders like Rocket Mortgage. We don’t force you into our parameters; instead, we can tailor a solution to fit your unique needs. 

Step five: Closing

You’re just about there. The finish line is in sight. What’s the last thing you want to happen in this situation? A delay in closing! 🥵

We have a solid history of making sure your closing experience goes off on time and without a hitch. We can either schedule an appointment with a title company for you or send a notary directly to you with papers to sign, giving you flexibility on the day of closing.  

Once complete, your mortgage and your home are now officially yours and you are free to do whatever celebration dance you like! (Just as long as you send us a video of your awesome dance moves.)

Step six: Selling your mortgage

Now that you’re all settled into your new home with your new mortgage, it’s time for us to pass you off to a trusted bank or investor. Some of these include government entities like FannieMae or FreddieMac. You will receive a letter explaining who will own your mortgage and where to send your monthly payments. 

Why choose FMD for your online mortgage needs?

There are a lot of different places you can go to get a mortgage, both online and off, so why choose us? It’s simple: We are committed to giving you the best rates possible and building a mortgage that enhances your financial stability.

Our mission is to be your first step to a better future. We have a trusted and experienced staff of professionals that can guide you through the entire process, whether you are a first time home buyer or are looking to refinance your home for a better rate. Because you deserve nothing less.

We will unleash the power of the right mortgage by helping you secure an outstanding mortgage rate that allows you to achieve your financial goals. Ready to get started? Let us get to know a little more about you and what you’re looking for, and we will give you a free custom mortgage rate quote.