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Direct Home Lending Mortgage Review 2024

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At a glance

Direct Home Lending
NMLS: 274058
State License: 01823534
Editor's take

Direct Home Lending is based in California but also works with borrowers in other larger states, including Colorado, Florida, Oregon, Pennsylvania and Texas. This lender might be right for you if you need to close quicker than the typical timeline.

Bankrate Score
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4.1
Rating: 4.1 stars out of 5
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Bankrate Score

Customer Rating
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4.8
Rating: 4.8 stars out of 5

20 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing and more

Credit Good

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 600 for FHA loans and VA loans

Location

Nationwide availability

Arizona, California, Colorado, Connecticut, Florida, Georgia, Oregon, Pennsylvania, South Carolina, Texas and Washington

Dollar Coin

Min. down payment

Undisclosed

At a glance

Direct Home Lending

NMLS: 274058

State License: 01823534

4.1

Rating: 4.1 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing and more

Location

Nationwide Availability

Arizona, California, Colorado, Connecticut, Florida, Georgia, Oregon, Pennsylvania, South Carolina, Texas and Washington

Credit Good

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 600 for FHA loans and VA loans

Direct Home Lending overview

Direct Home Lending, founded in 2006, is an online and brick-and-mortar lender that offers loans in some states. The lender offers 24-hour approvals and closes most loans within 30 days, and also advertises 14-day purchase closings. Direct Home Lending focuses highly on customer service, such as helping investment property loan borrowers find a real estate agent.

Pros and cons of Direct Home Lending

Pros
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    Rate offers that stand up those of larger lenders

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    Can close in as little as two weeks

Cons
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    Doesn’t offer USDA loans

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    Doesn’t offer home equity loans or home equity lines of credit (HELOCs)

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    Only available regionally

Our Editor’s Take on Direct Home Lending

Direct Home Lending is based in California but also works with borrowers in other larger states, including Colorado, Florida, Oregon, Pennsylvania and Texas. This lender might be right for you if you need to close quicker than the typical timeline.

How Bankrate scored Direct Home Lending

To determine Direct Home Lending’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors:

  • Affordability: Direct Home Lending’s website offers an online quote tool outlining rates and fees for various loan terms. As of this review, the rates were very competitive compared to Bankrate’s averages (provided you’re a well-qualified borrower).
  • Availability: This lender works with borrowers in a limited number of states, so check before you apply.
  • Borrower experience: You can initiate a request for a rate quote and apply for a mortgage via the Direct Home Lending website.

Affordability: 9.6/10

You can see purchase or refinance rates and fees through Direct Home Lending’s online quote tool simply by filling out fields with the ZIP code of the property, the purchase price, down payment amount and your credit score range.

Availability: 6.8/10

Direct Home Lending isn’t available in all states; it currently operates in Arizona, California, Colorado, Connecticut, Florida, Georgia, Oregon, Pennsylvania, South Carolina, Texas and Washington. The lender offers conventional mortgages, jumbo loans and VA and FHA mortgages. It also offers loans on investment properties as well as reverse mortgages for older homeowners.

Borrower experience: 7.9/10

Direct Home Lending isn’t accredited by the Better Business Bureau, but has an A+ rating from the organization. In the online application process with this lender, you can look through the details of each loan, including fees and points, apply directly and get conditionally approved within minutes. The lender offers 24-hour approvals and closes most loans within 30 days, and also advertises 14-day purchase closings.

How to apply for a mortgage with Direct Home Lending

You can apply for a mortgage with Direct Home Lending online or by phone at 800-575-3648. 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 an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Direct Home Lending

Direct Home Lending offers both rate-and-term and cash-out refinancing options. You can use the lender’s online refinance quote tool to see rates and fees, or call or email the lender’s Fast Lending team, who can advise you on which mortgage refinancing program meets your needs.

Compare Direct Home Lending to other lenders

Direct Home Lending
Rating: 4.1 stars out of 5
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4.1

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Old National Bank
Rating: 4.6 stars out of 5
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4.6

Bankrate Score
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Read full review
Veterans United Home Loans
Rating: 4.9 stars out of 5
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4.9

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, FHA, VA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing

Min. credit score required

620 for conventional loans; 680 for jumbo loans; 600 for FHA loans and VA loans

Min. credit score required

620 for conventional loans, 640 for FHA loans, 680 for VA loans

Min. credit score required

620 for conventional loans, 620 for VA loans

Down payment

Undisclosed

Down payment

Undisclosed

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

Arizona, California, Colorado, Connecticut, Florida, Georgia, Oregon, Pennsylvania, South Carolina, Texas and Washington

Nationwide availability

All U.S. states

Nationwide availability

All U.S. states

Direct Home Lending customer ratings and reviews

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NMLS: 274058

State License: 01823534

4.8

Rating: 4.8 stars out of 5

20 ratings

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This lender has 0 recent reviews.

Knowledge
Rating: 4.8 stars out of 5
Level of service
Rating: 4.9 stars out of 5
Professionalism
Rating: 4.8 stars out of 5
Responsiveness
Rating: 4.8 stars out of 5
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1 star
95%
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5%

95% of customers would recommend this lender.