About Us

  • First Rate literally has a PERFECT reputation with no online review less than 5 stars! 
  • Timely Closings with no “surprises”
  • The BEST combination of low rates & fees
  • Our approach is a refreshing honest up front approach…we tell the customer what they need to hear, not what they want to hear (but sometimes it BOTH!)
  • Many lenders to choose from so our client gets the best deal possible
  • E-signature technology to reduce paperwork and make the mortgage process smooth!
  • If you need someone, you can get us! We can even be reached on weekends & weeknights!

First Rate Financial is a Mortgage Broker based in Frisco, Texas. Our goal is to achieve such a high level of satisfaction for our clients that we will receive repeat and referral business. We do NOT charge fees of any kind to handle your mortgage financing. We have loan officers scattered throughout the state of Texas so we have experience in every market.

When looking for a home loan or beginning the process of refinancing a home, your first step is to undergo a pre-qualification process. Once pre-approved, there will be some other formalities to go through as well. (processing paper work, checking credit, etc.)

It will be necessary to fill out a 1003 mortgage loan application completely. At the time of application, you may also be provided with a list of items that MUST be returned with your loan application. If these items are not turned in, this will delay getting your loan or losing your interest rate, if the processing period goes beyond quoted lock period. We will make sure to set an expectation of each milestone so the client will know when certain items are due.

Be prepared to pay for a residential real estate appraisal. Your loan officer will advise you on the cost for an appraisal. There a very few exceptions to paying for an appraisal, quite simply it must be paid. It’s required by the lender’s underwriters. Does not matter which mortgage broker you use, they ALL require it upfront or pay the appraiser at time of appraisal service being performed.

After the initial docs are received, the file (your loan) goes into processing. You will be contacted as additional documents are needed. At that time, we are trying to get your mortgage loan closed!!!

All and all, the mortgage process can be very smooth, simple, and quick if you choose the correct company to help your needs. With over 15 years of experience in the Texas market, First Rate Financial is the one to choose. We provide first rate service to first rate people!

First Rate Financial LLC NMLS #658200
14083 Badlands Drive, Frisco TX 75035


“Hi Josh, First Rate was such a pleasure to work with during the refinance of my home mortgage. Josh, you were always pleasant each time there was a question about completing the process. There was no apparent stress involved in getting the paper work done. Thank you for being such a gentleman.

– Elizabeth Peveto

“My wife and I worked with First Rate Financial to secure a mortgage in June under a very compressed time schedule. We were leaving on vacation overseas and we had to complete our application and all the required supporting documentation in less than 10 days. They were extremely helpful in guiding us through this process and working with both the lender and the title company to make sure we had the correct information in a timely fashion. With their help, we were able to complete the application on time before our trip and by the time we returned the loan was already approved. We are very grateful for their professionalism and dedication and we will certainly refer our friends”

– Sanaa and Said Azim

“Couldn’t be more pleased with Chad & First Rate Financial!”

– Jere & David Medina

“Buying a home can be a daunting process, I am familiar with some of the complexities of the process – dealing with underwriters is no easy task. Add in multiple different deals, many, often conflicting, voices, and one can struggle to keep afloat. Patrick Pitts juggles all of these things with a finesse and talent that would put the Barnum Brothers to shame. While many people complain that it is impossible to contact their loan officer, Patrick will take a call at any time and talk down even the most petrified buyer. I have complete faith in Patrick, and I have no inhibitions about giving him my stamp of approval. While mortgage loan officers seem to be dime a dozen these days, Patrick is one in a million!””

– Michael Wellner

“Patrick Pitts from First Rate Financial made our mortgage refinancing seamless. It was simple, easy and hassle free! Patrick kept the communication open. He was available ANY given time to answer ANY questions that my wife and I had. He patiently went over the Good Faith Estimate line by line with my wife and I to ensure we completely understand what those numbers were. It was EXTREMELY pleasant working with Patrick. What my wife and I love the most about Patrick and First Rate Financial is that we CAN close our loan at our own comfort home and at a time that we chose for our convenience. How about that! I referred Patrick to one of my co-workers and he experienced and felt the same way about Patrick and a great company call FIRST RATE FINANCIAL. Once again we want to say THANK YOU Patrick and First Rate Financial for a remarkable experience!”

– Jill and Jay Luong

“I had a not-so-good experience with the company that financed my first house. Jason, at First Rate Financial, came highly recommended from a friend. He was able to get me pre-qualified in no time! He explained everything to me so that I clearly knew the process and had realistic expectations for each phase of the process. Finally, the day came when I found my house. I called Jason and he took the time to walk me through the next steps. When it came time to lock in my rate, Jason got me the most competitive rate at the best price. His work put me in the best possible position to purchase my new home.”

– Ty Scott

“Please give First Rate Financial a call as you move forward with your home purchase.  They may be able to help you find a good property and can definitely help you with financing.

First Rate helped us through a very complicated re-financing. Thanks.”

– John Thompson

“Chad Lemons at First Rate Financial helped us refinance our house.  The experience was fantastic.  Every expectation was exceeded and everything he said would happen, did happen.  We got a great rate with no hassle, and the process was much faster than we thought possible.”

– Tom Ziglar

“Chad Lemons was a true blessing when he helped me refinance my mortgage. He was tireless, and even when it didn’t look like the loan would go through, he worked his miracles and not only got my loan approved in a timely manor but saved me several hundred dollars on my mortgage payment. I would highly recommend him to anyone. He is trustworthy, efficient and yes, even brilliant at tying up the loose ends to make a deal happen. In short, Chad Lemons is the man for the job!”

– Cindy Oates

“Chad, just a brief note to let you know how much Martha and I appreciate all the hard work you went through to enable us to refinance our home.  We will certainly recommend you to our friends who are thinking about refinancing.

When we sell, you will be the one we will call.”

– Nelson and Martha Hensley

“Building a new home presented several challenges, but Chad Lemons at First Rate Financial made the financing aspect of it a cinch. Circumstances caused our loan scenario and needs to change after the pre-qualification stage and after construction had commenced, which gave us great concern. He worked with us diligently until we found the solution that worked best for us. His work ethic, attention to detail, and customer service set him apart from the rest during a process that can be very stressful and confusing to home buyers that have limited experience with it. And when it came to our closing, he had our paperwork done almost a week early and his diligence made the process go as smoothly as possible. In fact, our builder sent us an email commenting on how rare it was for a broker to be so easy to work with and to be so organized with everything. I hope to be in my new home for a while, but when it’s time to move, Chad will be the first person I call!”

– Blaine Banta

“I want to express my sincere thanks to First Rate Financial for the personal attention given to me during the recent refinance of my home. I had been told that refinancing would be a beast; however, working with you made the entire process seamless. So often you hear about scams and greed in the housing industry and you don’t know who you can trust.

I was shopping loans and thought I had found the perfect one. Low and behold you completed my loan documents, resulting in a mortgage that could not be matched by ANY lender, and the rest is history!

Words could never convey how much I appreciate your impeccable integrity, patience, and the level of professionalism exhibited by you while guiding me through every single step. The mortgage and finance knowledge that you imparted will be invaluable for years to come.

May you continually be blessed in all of your business endeavors as you work tirelessly to help so many others in the community as they embark upon home purchases and refinance.”

– Nancy B. Williamson

“My husband and I were completely satisfied with the efficient service we received from Chad. We had been working with another financial institution attempting to refinance our home for 4 months. We found out about Chad, and we had our refinance funded at a lower rate, with proceeds in hand, within 6 weeks!! We would recommend Chad to our friends, family and associates. Thanks so much Chad!”

– Karen and Mike Maguire

CURRENT RATES 04/04/2017 at 8:00 AM CST

Interest Rate
Conforming and FHA Loans
30-Year Fixed
30-Year Fixed FHA
20-Year Fixed
15-Year Fixed
10-Year Fixed
7-Year ARM
5-Year ARM

*Based on loan amounts of $200,000+

*Subject to credit & income requirements

*restrictions apply

All conventional rates and APRs assume 80% financing on a $200,000 loan value with max loan of $417,000. Offers may terminate at any time without notice. Rate/APR calculated on a 365 day year with typical closing costs. Rates/APRs subject to change in closing costs and properties. All rates as of date posted on this website with 30 day lock period. Signed loan application required to lock rate. Rates may be higher for credit scores below 740 middle score. APR will change with loan amount and percentage of home being financed.