If you’re evaluating Optimum First Mortgage, here’s an objective comparison based on publicly available data, third-party evaluations, and borrower feedback.
Optimum First Mortgage vs. Tomo Mortgage
Who is Optimum First Mortgage?
Optimum First Mortgage is a California-based mortgage non-delegated lender with a footprint in about 15 states, including large markets like Texas, Florida, and Pennsylvania. Because Optimum does not make its own underwriting decisions as a non-delegated lender—and instead relies on investor partners to approve and report loans—its activity does not appear separately in Home Mortgage Disclosure Act (HMDA) data.
Among lenders most active on Bankrate, Optimum and Tomo Mortgage are often neck-in-neck on interest rates. While rates are important, factors like fees, underwriting control, borrower experience, and policies such as rate-lock terms or cancellation charges also matter.
How Bankrate Rates These Lenders
Bankrate evaluates lenders across affordability, availability, and borrower experience. Scores below are compiled from Bankrate’s public pages (e.g., Tomo review on Bankrate).
| Category | Optimum First Mortgage | Tomo Mortgage | Rocket Mortgage |
|---|---|---|---|
| Affordability | 5 / 5 | 5 / 5 | 1.8 / 5 |
| Availability | 4.2 / 5 | 5 / 5 | 5 / 5 |
| Borrower Experience | 4.5 / 5 | 4.8 / 5 | 4.6 / 5 |
| Overall Rating | 4.6 / 5 | 4.9 / 5 | 3.8 / 5 |
Optimum First Mortgage vs. Tomo Mortgage
| Attribute | Optimum First Mortgage | Tomo Mortgage |
|---|---|---|
| Headquarters | Huntington Beach, CA | New York, New York |
| Website | optimumfirst.com | tomo.com |
| Bankrate Overall Rating | 4.6 / 5 stars | 4.9 / 5 stars |
| Year Founded | 2008 | 2020 |
| Availability | ~15 states | 33+ states + Washington, D.C. |
| Loan Types | Conventional, Jumbo, FHA, VA, USDA, Refinance | Conventional, Jumbo, FHA, VA (Purchase only) |
| Underwriting | Fully outsourced | Fully in-house |
| Rates | Does not show personalized rates on website | Shows personalized rates instantly online |
| Rate Lock Period | ~90 days | ~90 days |
| Lender Fees | “Expect ~0.5%–1% origination” — Consumer Affairs | No origination or processing fees |
| Lock-Break Fees | $595 | No lock-break fees |
| Pre-approval Process | Lead form; phone-based pre-approval | Fully digital; instant underwritten pre-approval |
How Optimum First’s Hybrid Model Affects Borrowers
Based on HMDA patterns, Optimum First operates primarily as a non-delegated lender. Non-delegated lenders sell the loan, then a third-party lender underwrites, approves, and funds.
- Speed: In-house loans often close faster.
- Consistency: Third-party underwriting can add steps or delays.
- Communication: More handoffs can reduce control and clarity.
Recent reviews on Bankrate, Reddit, and Yelp suggest experiences vary—some smooth and well-communicated, others affected by last-minute changes or unclear expectations.
What Customers Are Saying
Positive feedback
Optimum First earns praise for competitive rates and responsive loan officers; refinance timelines are often described as efficient.
“They are legit. I just closed a refi with them. They had the lowest rate at the time.”
“As a first-time buyer, I had a lot of questions and doubts, but they were always quick to respond and made me feel confident every step of the way.”
“My refinance process was quick and easy. No surprises and everything went smoothly. I highly recommend Optimum.”
Mixed or cautionary experiences
Other reviews describe misaligned final terms or communication gaps—issues that can stem from third-party underwriting and handoffs.
“It started off strong but ended with a 9.5% rate… I was told Plan B would be only 0.25% higher, but that wasn’t reflected in the final terms.”
“Throughout the process, I consistently sought clear information… Optimum’s communication was limited to brief replies.”
“I was told I wasn’t a priority because they were doing things for real customers in the pipeline instead of inbound business.”
How to Compare Mortgage Lenders
Interest rates
Compare par rates (0 points) and APR (rate + fees). Many headlines require paid points; small differences can mean big lifetime savings.
Lender fees
Origination/processing can add thousands. Compare the total cost, not just the rate. On a $400,000 mortgage, avoiding $2,000–$4,000 in extra fees is meaningful.
On-time close rate
Deadlines matter. Ask about underwriting turn times and document review. Tomo Mortgage reports a 98% on-time close rate (industry benchmark ~40%).
Pre-approval & offer letters
Fully underwritten pre-approvals typically strengthen offers vs. quick pre-quals. Ask what level of verification is completed up front.
Customer satisfaction
Read third-party reviews and ask for references. Look for responsiveness, clarity, and escalation paths.
Employee reviews
Healthy culture often correlates with better borrower experience (organized processing, proactive communication).
To understand how we compare rates fairly, see our TrueRate Methodology.