Consumer Direct Mortgage: A Smart Homebuying Move

ConsumerDirect Mortgage, a division of FirstBank, announced a rebrand to Real Genius in February 2022. The direct-to-consumer mortgage company was founded in 2012 and acquired by FirstBank in 2013. Real Genius is dedicated to helping homebuyers by eliminating obstacles and simplifying the loan process with cutting-edge technology. The company aims to provide competitive rates, transparency, and a personalized approach to mortgage lending.

Consumer Direct Mortgage is now known as Real Genius

Consumer Direct Mortgage, a division of FirstBank, has officially changed its name to Real Genius. The company, founded in 2012 by Thornton, was acquired by FirstBank in 2013.

The direct-to-consumer mortgage company has developed cutting-edge technology to simplify the loan process, making it faster and more efficient than traditional lenders. Real Genius aims to help homebuyers eliminate obstacles by providing a modern mortgage application platform that offers rate and cost transparency. The platform also maintains a personalized approach, giving customers access to veteran mortgage professionals.

Jamie Thornton, Director of Online Mortgage Lending for Real Genius, stated that the company has invested significantly in technology over the last decade to help customers make solid mortgage decisions while offering competitive rates. Real Genius claims to provide the lowest total cost loan package to its customers by utilizing specialized mortgage technology and loan automation, allowing them to pass on savings in the form of rates that fall below the national average.

The Real Genius website highlights their trusted reputation, with over 50,000 homeowners as customers, and an average savings of $5,000 in lender fees compared to the top 5 lenders. They offer various loan options, including cash-out, debt consolidation, and retirement planning, with a focus on transparency and helping customers make informed decisions.

Real Genius is a division of FirstBank

Real Genius, a division of FirstBank, is a mortgage company that leverages technology to simplify the loan process for its customers. Founded in 2012 as ConsumerDirect Mortgage, the company was acquired by FirstBank in 2013.

Real Genius aims to eliminate obstacles for homebuyers by providing a modern mortgage application platform that offers rate and cost transparency. The company has invested in developing technology that assists customers in making informed mortgage decisions, such as choosing between a lower payment over 30 years or a shorter loan period. Their platform also helps customers identify hidden costs and decipher complicated jargon associated with mortgages.

FirstBank, the parent company of Real Genius, is a top-tier financial institution with over $11 billion in total assets. It is the third-largest Tennessee-headquartered bank, with a presence in Tennessee, South Central Kentucky, Alabama, and North Georgia. FirstBank's extensive resources enable Real Genius to provide innovative mortgage solutions while maintaining a personalized approach.

The direct-to-consumer business model of Real Genius has allowed them to streamline the loan process, resulting in quicker closings and more competitive rates compared to traditional lenders. Their dedication to innovation and customer service has earned the trust of over 50,000 homeowners, and they have originated more than $15 billion in loans.

Real Genius's commitment to its customers is evident through its user-friendly platform and experienced team of mortgage professionals. By leveraging technology, they empower homebuyers to make smart financial decisions and build a better future.

Real Genius offers fixed-rate mortgages, adjustable-rate mortgages, FHA loans, VA loans, and Jumbo loans

Real Genius offers a range of mortgage options to suit different customer needs. Here is a detailed overview of the mortgage types on offer:

Fixed-Rate Mortgages

Fixed-rate mortgages offer consistency and peace of mind. With this type of mortgage, the interest rate remains the same for the entire term of the loan. This makes budgeting easier, as your monthly payments of principal and interest do not fluctuate. Fixed-rate mortgages are a good option if you think interest rates might rise in the future and you want to lock in the current rate.

Adjustable-Rate Mortgages (ARMs)

ARMs are home loans with variable interest rates that can change periodically based on market conditions. The initial interest rate is fixed for a certain period (usually the first 5, 7, or 10 years), after which the rate adjusts at yearly or monthly intervals. ARMs are a good choice if you plan to keep the loan for a short period and can handle potential increases in interest rates.

FHA Loans

FHA loans are backed by the Federal Housing Administration and are ideal for first-time homebuyers. These loans offer low down payment options, more lenient credit score requirements, and the possibility of qualifying even with financial issues or bankruptcy on your record. FHA loans allow you to borrow up to a certain percentage of a home's value, depending on your credit score.

VA Loans

VA loans are guaranteed by the Department of Veterans Affairs and are available to veterans, service members, and eligible surviving spouses. These loans often do not require a down payment or private mortgage insurance, and they offer competitive interest rates. VA loans can be used for purchasing, repairing, or adapting a home for personal occupancy.

Jumbo Loans

Jumbo loans, or jumbo mortgages, are used for financing properties that exceed the lending limits set by the Federal Housing Finance Agency (FHFA). These loans are typically sought by borrowers looking to purchase luxury properties or homes in expensive real estate markets. Jumbo loans have more stringent credit requirements and carry more risk for the lender, so borrowers need to meet rigorous financial criteria.

Real Genius offers a completely online loan process

Real Genius, formerly known as Consumer Direct Mortgage, is a division of FirstBank, a bank based in Nashville, Tennessee. The company was founded in 2012 by Thornton and was acquired by FirstBank in 2013.

The company's dedication to simplifying the loan process through cutting-edge technology has made it a popular choice for homebuyers. Real Genius offers pre-approvals in as little as 15 minutes and provides a variety of loan types, including home purchase and refinance loans. They also offer rate-and-term and cash-out refinancing loans, as well as home equity loans through affiliate referrals.

One of the key advantages of using Real Genius is the potential cost savings. The company claims that borrowers can save up to $5,000 in lender fees compared to the top five lenders in the nation. This is achieved through their efficient loan team and advanced technology, allowing them to fund loans quickly while keeping expenses low.

Real Genius has received positive reviews, with an A+ rating from the Better Business Bureau and accreditation from the same organisation. The easy and transparent process is especially beneficial for first-time homebuyers, who can receive guidance from mortgage officers or lenders to determine the best rate based on their provided information.

Real Genius has an A+ rating with the Better Business Bureau

Real Genius, formerly known as ConsumerDirect Mortgage, is a division of FirstBank, a bank based in Nashville, Tennessee. Real Genius has an A+ rating with the Better Business Bureau and is BBB accredited. The company was founded in 2012 by Jamie Thornton and acquired by FirstBank in 2013.

Real Genius offers a completely online loan process with preapprovals in as little as 15 minutes. They provide rate-and-term and cash-out refinancing loans, as well as home equity loans through affiliate referrals. They do not offer home equity lines of credit or USDA loans. Real Genius claims that its borrowers can save $5,000 on lender fees compared to the top five lenders.

The company has invested in technology to simplify the loan process and provide competitive rates. Their platform allows for the secure sharing of documents and efficient progression through the loan process. Real Genius's team has been described as responsive, professional, and highly experienced. They are transparent about their rates and do not require any upfront information.

Real Genius has received positive reviews from customers, who have praised the company for their competitive rates, efficient processes, and excellent customer service. The company has a 4.7-star rating out of 5 on Trustpilot, based on more than 600 reviews.

Frequently asked questions