Today we’ll check out Florida-based lender “The Mortgage Firm,” which has been originating home loans since the mid-1990s.
That’s a lifetime in today’s world of nascent startups, and shows they’ve been able to weather the ups and downs of the housing market while earning a stellar reputation at the same time.
In fact, they were recently named the top mortgage lender by SocialSurvey for customer satisfaction, beating out dozens of other companies in their category.
Let’s learn more to see if they could be a good fit for you.
The Mortgage Firm Fast Facts
- Direct-to-consumer retail mortgage lender
- Offers home purchase financing, refinance loans, and reverse mortgages
- Founded in 1995, headquartered in Orlando, FL
- Funded about $3.5 billion in home loans last year
- Licensed in 22 states and the District of Columbia
- Does most of their business in home state of Florida along with Georgia
The Mortgage Firm is an independently operated direct-to-consumer retail mortgage lender that offers home purchase financing, mortgage refinance loans, and reverse mortgages.
They primarily serve home buyers and existing homeowners in the Southeastern United States, with their home state of Florida providing most of their overall volume.
Last year, they funded roughly $3.5 billion in home loans, making them a large-sized regional lender.
About two-thirds of their volume was dedicated to home purchase loans, with the rest mostly comprised of mortgage refinances.
At the moment, they’re licensed to do business in 22 states and the District of Columbia.
Those states include Alabama, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, North Carolina, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, and Washington.
How to Apply with The Mortgage Firm
- You have the option of working online or visiting a physical branch
- Either way their digital mortgage application makes it easy to get tasks done
- Borrowers can scan/upload documents, link bank accounts, and eSign disclosures
- The entire loan process can be managed via the online borrower portal 24/7
To begin, you can either visit their website or go to a physical branch in-person. Most of their offices are located in Florida and adjacent states.
If you go online, there is a branch directory along with a loan officer directory. Assuming you know who you want to work with, you can simply click on “Apply.”
This will launch the digital mortgage application that is powered by ICE Mortgage Technology, formerly known as Ellie Mae.
It allows you to perform most tasks electronically, from the scanning and uploading of documents to the eSigning of disclosures.
Once your loan is submitted, you’ll also be able to manage all aspects of the process via the online borrower portal, which can be accessed via their website.
And they’ll send automatic updates to you throughout the process along with continual status reports to ensure there are no surprises.
After closing, The Mortgage Firm automatically provides a “HomeBinder” to all borrowers as a digital closing gift.
It puts all your closing documentation in the cloud so you can access your forms securely from anywhere if and when needed.
All in all, they appear to be big on the latest technology, which should make the entire loan process both convenient and hopefully fast as well.
Loan Programs Offered by The Mortgage Firm
- Home purchase loans
- Refinance loans
- Home renovation loans
- FHA/USDA/VA loans
- Conforming loans backed by Fannie Mae and Freddie Mac
- Jumbo loans
- Reverse mortgages
- Fixed-rate options: 10, 15, 20, and 30 year terms
- Adjustable-rate options: 5/1 and 7/1 ARM
- Can finance primary, second homes, and investment properties
One advantage to using The Mortgage Firm is their deep menu of available loan programs.
Whether you’re purchasing a home, refinancing an existing mortgage, or renovating a property, they should have a loan to fit your needs.
They offer just about anything you could ask for, from government-backed stuff like FHA and VA loans to jumbo loans and even reverse mortgages in some states.
They can finance primary residences, second homes, and investment properties, along with condos/townhomes.
With regard to specific loan types, you can get a fixed-rate mortgage in a 10, 15, 20, or 30-year term, or an adjustable-rate mortgage such as a 5/1 or 7/1 ARM.
The Mortgage Firm Rates
Unfortunately, The Mortgage Firm doesn’t post its daily mortgage rates online like some other lenders.
As such, you’ll need to get in touch with a loan officer to discuss loan pricing and eligibility before proceeding to the application.
The same goes for their lender fees, which appear to be absent from their website. Be sure to inquire about all fees, including application, loan origination fee, and so on.
Once you know all those things, you can shop their quoted mortgage APR with other lenders to find the best deal.
Ultimately, I don’t know how competitive they are relative to other companies, so do take the time to obtain other quotes.
However, their fantastic reviews and customer satisfaction awards tell me they must be doing something right on the pricing front.
The Mortgage Firm Reviews
On SocialSurvey, The Mortgage Firm has a strong 4.91-star rating out of a possible 5 from about 30,000 customer reviews.
The sheer volume of reviews shows they’re consistently making their clients happy.
Additionally, they were ranked the top mortgage company for customer satisfaction in 2019 by SocialSurvey in the “large” category and previously won the “medium” category in 2018.
So it appears they’re growing and maintaining a very strong reputation at the same time.
Over at Zillow, they have a super impressive 4.96-star rating from about 1,000 customer reviews. Be sure to filter by loan officer to find those who go above and beyond.
On Google, they have a 4.9-star rating from about 1,000 reviews as well.
And while they aren’t an accredited business with the Better Business Bureau, they do maintain an ‘A’ rating based on complaint history.
To sum it up, if you’re looking for a convenient loan process from a very highly-rated mortgage lender, The Mortgage Firm could be for you.
Their wide range of available loan programs coupled with their many ways to apply makes them appealing to both first-time home buyers and existing homeowners.
The Mortgage Firm Pros and Cons
The Good
- Offer a fully digital mortgage application
- Can apply for a home loan directly from their website
- Also have physical branches in many Southeastern states for those who wish to do business in person
- Lots of different loan programs to choose from including reverse mortgages
- Excellent reviews from thousands of customers across multiple ratings websites
- Won multiple customer satisfaction awards
- Free mortgage calculators and mortgage glossary online
- Free HomeBinder account as a closing gift
The Maybe Not
- Aren’t licensed in all states
- Do not list mortgage rates or lender fees on their website
- May not service your loan after closing
