BankFirst is a community-focused, full-service bank and direct mortgage lender serving primarily Mississippi and Alabama, with a strong local presence and a commitment to personalized service.The bank has been in operation since 1888 and manages all aspects of the mortgage process in-house, offering guidance from knowledgeable Relationship Managers.
See today’s mortgage interest rates on TrueRate.
How BankFirst compares to other lenders
| Headquarters | Columbus, Mississippi |
| Website | bankfirst.com |
| Rate | 0.15% less than the median rate |
| Lender fees | $400 (median) |
| Savings after 1 year, compared to the median interest rate | $867 |
| Savings after 10 years, compared to the median interest rate | $5,137 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,712 |
| Added cost after 10 years (vs. Tomo Mortgage) | $5,867 |
For a $400,000 mortgage, BankFirst’s rates and low $400 lender fee result in estimated savings of about $867 in the first year and over $5,100 across 10 years compared to the median lender. While that’s a solid value, homebuyers should still compare loan estimates—especially from lenders like Tomo Mortgage where doubling your savings may be likely.
What customers are saying
BankFirst is recognized for its personalized, locally focused mortgage service, with borrowers on Yelp and New Frontier Funding highlighting fast approvals, flexible repayment options, and attentive staff. The bank offers competitive rates and is praised for supporting community development, earning top rankings from S&P Global in 2023.
However, customer feedback is mixed: some cite inconsistent service, fee transparency issues, and communication lapses, with a low average customer review score and over 130 complaints closed in recent years. BankFirst primarily serves Alabama and Mississippi, making it best suited for borrowers in those regions
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.