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Direct Home Lending Review: Some of the Most Competitive Rates in the Nation?


Today we’ll review “Direct Home Lending,” a company that says it specializes in FHA and VA loan lending, along with home purchase loans.

They also happen to offer mortgages backed by Fannie Mae and Freddie Mac, along with refinances, and appear to advertise some pretty competitive interest rates.

Like other online mortgage lenders, they aim to cut costs through technology and pass on the savings to their customers via reduced rates and lower fees.

Let’s take a closer look at this Southern California-based lender to determine if they could be a good home for your loan.

Direct Home Lending Fast Facts

  • Full service mortgage company that offers home purchase and refinance loans
  • Founded in 2006, headquartered in Corona, California
  • A dba of parent company PIC Capital, Inc.
  • Currently licensed to do business in four states
  • Run by a staff of about a dozen loan originators and processing staff
  • Say they specialize in FHA and VA loan lending

Direct Home Lending is a full-service mortgage lender that offers both home purchase financing and mortgage refinances to existing homeowners.

Their specialty appears to be government lending, though they offer the full menu of lending options, including conventional and jumbo loans.

The company is located in Corona, California and has been around for about 15 years. Ironically, they got their start right around when the housing bubble burst more than a decade ago.

They are currently licensed to do business in just four states, including California, Colorado, Oregon, and Washington. So they appear focused solely on the West Coast.

How to Apply with Direct Home Lending

  • You can call them directly or get started on your own from their website in minutes
  • Either fill out a short lead form or click “Apply Online” to begin the application
  • They offer a digital mortgage experience powered by BeSmartee
  • Allows you to import bank statements, eSign disclosures, and track your loan 24/7

To get started, you can either call them or visit their website. If you opt for the online route, you can fill out a short lead form and wait for someone to call you back.

Or you can simply dive into the digital loan application by clicking “Apply Now,” which they say only takes about 15 minutes to complete.

Direct Home Lending says it offers a hassle-free digital mortgage, which is powered by fintech company BeSmartee.

They also claim to offer 24-hour loan approvals, so you should be able to get a quick turnaround time on your loan submission as well.

The BeSmartee platform allows you to complete most tasks electronically, whether it’s filling out the application, eSigning disclosures, linking your bank account(s), or ordering the home appraisal.

All in all, they appear to make things easy and aim to close loans in 30 days or less.

The company also mentions the possibility of 14-day purchase closings, which is super-fast if on a tight deadline, especially in a competitive housing market.

Loans Programs Offered by Direct Home Lending

  • Home purchase loans
  • Refinance loans: rate and term, cash out, and streamline
  • FHA loans
  • VA loans
  • Conforming loans
  • Jumbo loans
  • Fixed-rate and adjustable-rate options available

Direct Home Lending offers both home purchase loans and refinance loans, including rate and term, cash out, and streamline options.

It’s unclear if they offer home renovation financing, including FHA 203k loans and Fannie Mae HomeStyle, but there’s a good chance they do.

They lend on all property types, such as condos/townhomes, vacation homes, and multi-unit investment properties.

You can get a conforming loan backed by Fannie Mae or Freddie Mac, or a jumbo home loan that exceeds the conforming limit.

In fact, say they offer super jumbo loans as high as $10 million, so you shouldn’t be limited in terms of how much you need to borrow.

They also offer government-backed home loans, including FHA loans and VA loans.

Notably, they don’t appear to offer USDA loans, which are geared toward homeowners in rural areas.

In terms of loan type, you can get both fixed-rate and adjustable-rate mortgages in a variety of common loan terms.

Ultimately, you shouldn’t be limited when it comes to loan choice as long your particular scenario is fairly straightforward.

Direct Home Lending Mortgage Rates

While they don’t display their mortgage rates on their own website, you might come across them if actively shopping your home loan.

They often pop up in mortgage rate comparison tables, and I’ve personally seen them beat out all the other lenders listed.

Of course, rates can vary from day to day, and by your specific loan scenario, but they do tend to offer low mortgage rates (or at least advertise them).

In terms of lender fees, that’s a question mark as they aren’t mentioned on their website. But they do seem to offer no cost options, meaning you won’t necessarily have to pay lender fees out of your own pocket.

However, it’d be nice to know if they charge a loan origination fee, processing, or underwriting fee to more easily compare them with other lenders.

As always, take the time to grab a quote from a few other lenders (and take note of the fees), then compare the mortgage APR among them if you’re looking for the cheapest mortgage.

Direct Home Lending Reviews

On Google, Direct Home Lending has a solid 4.7-star rating out of 5 from about 125 customer reviews.

And on Yelp, a 4.5-star rating from 33 reviews, a 4.8-star rating on Zillow from a dozen reviews, and a 4.7 out of 5 on Facebook from another dozen.

While not a ton of customer reviews, they’re at least consistent and positive across all the different ratings sites.

Personally, I’d like to see more customer reviews, but at least what they’ve got so far shows they’re a very well-liked lender.

In summary, Direct Home Lending might be a good option if you’re looking to lower your existing rate via a refinance as they seem to offer low-cost mortgages.

They could also work for a home purchase, especially if they can really close in 14 days, though if you prefer face-to-face interaction and additional guidance, a brick-and-mortar lender might better suit you.

Direct Home Lending Pros and Cons

The Pros

  • Offer a digital mortgage experience powered by BeSmartee
  • Can apply for a home loan from any device in minutes
  • Say they can issue 24-hour approvals and 14-day purchase closings
  • Appear to offer low mortgage rates with low fees
  • Lots of programs to choose from including jumbo loans
  • Excellent customer reviews from past customers
  • A+ BBB rating
  • Free mortgage calculator on their website

The Cons

  • Only licensed in California, Colorado, Oregon, and Washington
  • Do not offer USDA loans
  • No mention of rates or lender fees on their website

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