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FBC Mortgage Review: A Florida Lender with a Simple Loan Process


Today we’ll take a look at FBC Mortgage, which is a Florida-based mortgage lender that does a ton of business in its home state.

In fact, they originated nearly $2 billion in home loans in the Sunshine State last year, which accounted for roughly 60% of their overall loan volume.

They also recently struck a deal with the University of Central Florida (UCF) to be the field sponsor at the “Bounce House.”

So it’s safe to say that if you live in Florida, there’s a good chance you’ve heard of FBC Mortgage. Either way, read on to learn more.

FBC Mortgage Fast Facts

  • Direct-to-consumer retail mortgage lender
  • Founded in 2005 in Orlando, Florida
  • Licensed in 48 states nationwide (excluding Hawaii and New York)
  • Funded over $3 billion in home loans during 2019
  • Refer to themselves as a top-20 national mortgage lender
  • Also operate correspondent and wholesale lending divisions

FBC Mortgage is somewhat middle-aged for a mortgage company, having been around for about 15 years.

The name is related to their past affiliation with the Florida Bank of Commerce, hence the initials FBC.

During their relatively short time in existence, the company changed hands twice but came full circle.

First, it was sold to privately-owned investment bank Sterne Agee Group, Inc. in 2012, then three years later it reacquired itself.

That excitement aside, today the independent nonbank lender has roughly 1,000 employees nationwide and funds billions in home loans annually.

Last year, nearly 80% of their total loan volume consisted of home purchase lending. So it’s clear they are partnered with lots of real estate agents and home builders.

But they also offer mortgage refinances, including rate and term refis and cash out refis, which accounted for the remainder of their lending.

As noted, a good chunk of their business is done in Florida, but they’re also very active in nearby Georgia and Texas, and as far away as Arizona and California.

How to Apply with FBC Mortgage

  • You can call them directly or simply apply online via their digital mortgage process
  • Their online app known as allows you to get pre-approved in just 8 minutes
  • Applicants can import and upload key financial documents and generate a pre-approval letter after completion
  • Your designated mortgage professional (or loan officer) will contact you within 24 hours of loan submission

To get started, you head over to the FBC Mortgage website and click on Apply Now. It will ask if you’re working with a loan officer.

If yes, enter their name to be directed to their personal webpage, at which point you can apply for a mortgage immediately without any human interaction.

If no, you’ll simply be ported over to the same loan application and be connected with a loan officer after you begin.

It’s possible to search for a nearby branch or loan officer using the directory on their website as well.

FBC Mortgage has a digital mortgage process known as SimpleLoan, which lets users apply from a computer, smartphone, or tablet.

Once you create an account, you can import your pay stubs, W-2s, bank statements, and other key financial documents.

You can also scan and upload documents necessary to meet any conditions on your loan. And review any pending mortgage tasks required to close your loan.

Once your loan in submitted, you can review your loan details at any time, lock your loan, get real-time status, or contact your loan officer if you have any questions.

They say you can get pre-approved for a home loan in as little as eight minutes, which I believe is the same amount of time as Rocket Mortgage.

All in all, they appear to be using the latest technology to make applying for a mortgage quick and easy.

Loan Programs Offered by FBC Mortgage

  • Home purchase loans
  • Refinance loans: rate and term, cash out, streamline
  • Renovation loans (FHA 203k) and construction loans
  • Foreign national loans
  • Conventional conforming home loans
  • Jumbo home loans
  • Government-backed loans: FHA, USDA, and VA
  • Reverse mortgages
  • Portfolio loans
  • Fixed-rate and adjustable-rate options with various loan terms available

FBC Mortgage Rates

FBC Mortgage does not publicize its mortgage rates on its website or elsewhere as far as I know.

While slightly unfortunate, it doesn’t mean their rates are higher than the competition. We really don’t know unless you contact them for a quote.

The same goes for their lender fees, which don’t seem to appear on their website.

As such, it is recommended to get pricing before you apply to see how competitive they are relative to other mortgage lenders you’re considering.

You should have a good idea of pricing before you proceed to ensure you don’t leave money on the table.

Of course, pricing is just one of many factors when deciding on a mortgage company to work with.

One must also consider things like customer satisfaction, and a lender’s ability to close, and close on time.

FBC Mortgage Reviews

On Rate Your Lender, they have a 4.8-star rating out of 5 based on roughly 12,000 customer reviews. And 95% of customers say they would recommend FBC Mortgage.

On Birdeye, they’ve got a 4.1-star rating out of 5 based on 200 reviews.

On LendingTree, they have a perfect 5-star rating, but it’s only based on a small handful reviews. All 100% of customers on that review site recommend FBC.

There are also individual loan officer ratings on Zillow if you want to research specific people to work with, given the fact that they employ hundreds of loan originators.

They are an accredited business with the Better Business Bureau, and have been since 2011. They currently hold an A+ rating with the ratings company.

Their customer reviews on the BBB aren’t great, but that’s typical of the BBB website.

FBC Mortgage Pros and Cons

The Pros

  • Offer a digital mortgage application
  • Can apply directly from their website without human interaction
  • Lots of different loan programs to choose from
  • Free mortgage calculators on site
  • Mostly excellent customer reviews
  • A+ BBB rating

The Cons

  • Not licensed to lend in Hawaii or New York
  • Do not publicize their mortgage rates or lender fees
  • They don’t appear to service their own loans

(photo: Anthony Quintano)

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