FBC Mortgage

FBC Mortgage Reviews

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About FBC Mortgage

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FBC Mortgage (NMLS ID# 152859) is a Florida-based mortgage lender licensed in 48 states. In addition to purchase and refinance loans, it offers loans for home renovation and new construction. Other features include quick preapprovals and e-closing. FBC Mortgage started in 2005 and has funded over $25 billion in loans.

    Pros & Cons

    • Fast preapproval
    • Construction and renovation loans
    • Electronic signing ahead of closing
    • Not available in Hawaii or New York
    • No pre-qualification


    To learn about FBC Mortgage’s rates, you can contact a loan officer or fill out information online for preapproval. The company’s average home purchase rate in 2021 was exactly the same as the national average.

    Bear in mind that the interest rates a lender offers depend on a borrower’s personal financial status, including credit score and debt-to-income (DTI) ratio. Borrowers with higher credit scores and lower DTI ratios tend to get better rates.

    FBC Mortgage has both fixed-rate and adjustable-rate mortgages (ARMs). ARMs have relatively low introductory rates compared with fixed-rate mortgages, so they can save you money in the short term. If you plan to refinance your loan or sell your home before the introductory rate period ends, an ARM could be a good choice.

    In 2021, FBC Mortgage's average home purchase rate was on par with the national average.

    FBC Mortgage average home purchase rate vs. national average

    Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

    Application process

    FBC Mortgage’s platform is called SimpleLoan. It syncs with your bank and payroll administration system to import your bank statements, pay stubs and W-2s. FBC Mortgage states that with SimpleLoan, it can offer preapproval in eight minutes. You can also track your loan progress and contact your loan officer using the SimpleLoan platform.

    FBC Mortgage application features

    Loan types

    FBC Mortgage offers a broad range of loans, including conventional (fixed and adjustable rates available), FHA, USDA, VA and jumbo loans. Specialty programs include:

    • 203(k) rehab loan: Loan program for fixer-uppers, combining purchase price and renovation costs in the total loan amount.
    • Construction-to-permanent loan (C/P loan): Bridges the gap between construction financing and permanent financing.
    • Foreign national loan: Offers funding for residents of other countries who want to make a home purchase in the U.S.
    • Portfolio loans: A program that offers less strict requirements for borrowers unable to qualify for a government-backed loan.
    • Reverse mortgage: Loans for borrowers 62 and older who want to start tapping into their home equity without having to pay back the loan immediately.

    In 2021, borrowers initiated 18,899 home purchase applications with FBC Mortgage. It closed 12,610 home loans, or two-thirds of the total applications. It only denied 2.5% of home purchase loan applications.

    Loan applications for home purchases only by year

    Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.


    FBC Mortgage offers refinance loans for those who want to adjust their rate or term and those who want to take cash out of their home equity. In 2021, about 27% of its loans were refinance loans, while 73% were home purchase loans. Demand for refinancing tends to increase when rates drop, as more borrowers consider replacing their existing loan with one that has better terms.

    Home purchase vs. refinance loans by year

    Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.


    FBC Mortgage doesn’t publish its loan requirements; the best way to figure out which loan programs you qualify for is to speak with a company loan officer, who will examine your financial situation and goals and tell you which loan types are available to you and how much you can borrow.

    As a general rule, conventional loans require a minimum credit score of 620 and a 3% down payment. Government-backed mortgages (FHA, VA and USDA loans) have lower credit score requirements than conventional loans. FHA loans have a minimum down payment amount of 3.5%; VA and USDA loans are available with 100% financing (no down payment).

    National mortgage requirements by type

    Cost and fees

    FBC Mortgage loan officers provide information about loan costs and fees, including closing costs. To get estimated charges on a loan, use the SimpleLoan platform to apply for preapproval. FBC Mortgage connects you with a loan officer. Within three business days of receiving your application, the lender is required to provide a Loan Estimate form with your estimated rate and closing costs.

    Before you close, you’ll receive a more exact breakdown called the Closing Disclosure. Closing Disclosures reflect the actual costs and fees you owe at closing.


    What is FBC Mortgage?

    FBC Mortgage is a national mortgage lender that offers purchase, refinance, renovation and construction loans. It's based in Orlando, Florida, and has loan officers around the U.S. FBC Mortgage’s features include the SimpleLoan application platform, a fast preapproval process and e-closing.

    Is FBC Mortgage legit?

    FBC Mortgage has been in business since 2005 and has funded over $25 billion in loans, according to the company. At the time of publishing, the NMLS Consumer Access database shows the company is authorized to do business in 48 states.

    Where is FBC Mortgage available?

    FBC Mortgage is licensed in all states except Hawaii and New York.

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    ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page . Specific sources for this article include:
    1. Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Sept. 14, 2022.
    2. NMLS Consumer Access, “ FBC Mortgage, LLC .” Accessed Sept. 15, 2022.

    FBC Mortgage Company Information

    Company Name:
    FBC Mortgage