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Derrick Foster smiling in a professional headshot for financial services.
Portrait of Derrick Foster, a professional at Preferred Rate, showcasing confidence and approachability.
Beautiful modern craftsman house with landscaped front yard and double garage.
A stunning modern craftsman-style house featuring a landscaped front yard, large windows, and a spacious double garage.

NMLS: #135444

Derrick Foster

Sr. Mortgage Advisor

Awards

(4)

Rising Star Award Recipient (Multiple Years)

President’s Club Award Recipient (Multiple Years)

20+ Years of Mortgage Industry Experience Award

Franklin County Youth Football Board Member

I’ve spent more than 21 years in the mortgage industry, and my background in the construction industry gives me a unique perspective on the homebuying process. I understand both the financial side of purchasing a home and many of the details that come with building or improving one. What I enjoy most about this career is helping people reach important milestones in their lives and turning the dream of homeownership into a reality.

I pride myself on being proactive and transparent with my clients. I make sure they always know what to expect and provide consistent updates throughout the loan process so they feel confident and informed every step of the way. Many of my clients say the same things in their reviews — that I’m responsive, communicative, and that they felt supported from start to finish. My goal is always to make the process as smooth and stress-free as possible.

While I work with a wide range of borrowers, I especially enjoy helping first-time homebuyers. Buying your first home can feel overwhelming, and I love being able to guide people through the process, explain their options, and help them feel comfortable with every decision. I focus on building relationships rather than simply completing transactions, taking the time to understand each client’s goals and financial situation so I can help them find the loan option that works best for them.

One of the most rewarding parts of my job is seeing the excitement when someone buys their first home. Being able to help make that moment happen is something I never take for granted.

Outside of work, I’ve been married to my wife Amanda since 2010, and we have three kids: our daughter Karmen, 14, our middle son Cooper, 11, and our youngest son Cruz, 8. We spend a lot of our time together at their sporting events or enjoying the outdoors hunting and fishing. I’m also actively involved in coaching youth sports, including youth football and coaching my youngest son’s basketball team.

Licensed in:

OH and IN

Specialties:

First-Time Homebuyers

USDA Loans

VA Loans

FHA Loans

New Construction

Renovation Loans

Investment Properties

Down Payment Assistance

Lending Specialties

First-Time Homebuyers

USDA Loans

VA Loans

FHA Loans

New Construction

Renovation Loans

Investment Properties

Down Payment Assistance

Derrick Foster's
Awards and Recognition

Rising Star Award Recipient (Multiple Years)

President’s Club Award Recipient (Multiple Years)

20+ Years of Mortgage Industry Experience Award

Franklin County Youth Football Board Member

Why work with me?

5.0/5 Rating

115 reviews

1,200+

Families helped

25 Days

Average close time

21 years

Of experience

Real clients. Real results.

Great experience again with Derrick Foster

Shawn O

Derrick was very helpful throughout the loan process. I was able to call him anytime, he answered all of my questions and made it easy to understand. I would certainly recommend!

Collin D

Derrick was so good with getting us approved and keeping us updated the whole time! I was very impressed! His wife even made us a cute home sign. I highly recommend using Derrick at Preferred Rate

Rebecca B

Great guy to work with. Very hardworking and flexible willing to go above and beyond to get you to closing.

Carrie F

Derek Foster did an FHA for us, we had a very challenging situation with my wife on disability and me on Social Security and a high debt to income ratio and he made it happen if Derek says he can do it hitman's team will work very hard and you will walk away with a home loan

Jay S

We had a very challenging FHA loan my wife is on disability and I'm on Social Security are debt to income ratio was very high but Derek work very hard and made our Dream Come True

Myron S

Excellent experience from start to finish. Derrick made the experience simple and easy to understand.

joshua h

Derrick was a pleasure to work with. Response, prompt and thorough. Would recommend.

Ken E

We recently closed on our home and while the overall experience had its fair share of frustrations, I want to take a moment to recognize and genuinely thank Derrick for his professionalism, patience, and support throughout.He was responsive, knowledgeable, and truly went the extra mile to keep things moving and communicate clearly, even when other aspects of the process felt unnecessarily difficult. I deeply appreciated his steady presence and the way he advocated on our behalf.This five-star rating is for him alone—he deserves the credit. If you're considering working with this lender, I highly recommend asking for Derrick directly. He's the reason we made it to closing. Thank you for everything!

Kandra C

Derrick is a nice guy and easy to work with. He was there every step of the way and he was always quick to respond back. I will recommend him any day of the week.

Tasha E

Wonderful to work with! Couldn’t have asked for a better process and will definitely be returning!

Jena E

Stress free and easy!

Dustin S

This was our first home purchase and Derrick was there every step of the way. He consistently went above and beyond to ensure a smooth process and encouraged us throughout. The entire experience was great from start to finish – we couldn’t have asked for a better lender.

Ashley S

Derrick Foster walked me through the whole process. This was my first home purchase and I couldn’t have asked for a better lender. 

Doug S

My experience was awesome Derrick was friendly. Whatever questions I had he got me answers in a timely manner. The process was a pain but he helped me to stay focused and was one of the people that encouraged me not to give up. I would recommend him to anyone looking to purchase a home. Thank you.

David A

Derrick was fantastic!

Jacob C

Went above and beyond for me.  Answered my questions and went out to find answers for me if he did not know. It was a smooth purchase.  Thank you for your help

funkidaddio

Went above and beyond with his service. Provides realistic numbers and treats you with respect.

funkidaddio

Derrick and Jennifer worked tirelessly and diligently to make sure we were able to purchase the house of our dreams. They made it possible for us and we couldn’t be more appreciative :)

lexi c

Derrick was awesome! I never dreamed we could get a home to call our own and Derrick helped us get our dream home. He was professional and done everything in his power to help us. Thank you Derrick, you truly changed our lives!!Steven and Crystal

Crystal E

Great to work with! Answered all and any questions anytime I had any.

Matt M

Derrick and Brenna made my 1st time buying a home seem like the easiest thing ever!! I was totally clueless on what to do, they gave me guidance, answered my million questions all while being so helpful in my adventure! I would recommend them to everyone!!! I am so happy and grateful for this dynamic duo!!!!

Tawana H

Derrick is great at what he does he did an awesome job getting us closed on our house!

Evan B

Derrick was so amazing to work with. He was readily available for all of the questions that my husband and I had about buying our first home. He truly made the whole process smooth and easy. We couldn’t be happier that we chose to work with him! 

Kaitlyn M

Derrick is an excellent loan officer! He goes above an beyond to help his customers! Cares bout his customers! Amazing!!

Rita M

Definitely recommend for anyone looking to buy a new home, such a smooth process.

Cleveland B

Derrick did a great job of helping us through the process and keeping us informed .

Peggy C

You did a great job, thanks

Johnny C

Derrick and his Company were awesome, he went above and beyond for me!

Jackie G

I have used Derrick Foster and Preferred Rate with every loan or refinance I have ever had. He makes everything so easy. They do all the work so you dont have to. Great people to work with and I would suggest contacting Derrick with any of your mortgage needs!

chris m

Derrick was 100% on top of his game . First time home buyer and I got weekly if not fail updates at time to get me through this process guy. Guy is an absolute professional and even when things went south he roped everything back in and we steadied the course. If I move again I will be sure to follow his experience and expertise.

Burning B

Derrick is the best person to work with on a loan. He really helped us and kept in touch. Thanks for getting us into our new house.

Connie K

Derrick was very professional enjoyed talking to him and working with him. Very educated and efficient. Thanks Derrick

tina m

He's a fighter knows the ins and outs of the loan process and what it takes to get the best loan for you. His team is top notch their Communication skills are out of this world I couldn't be more happier with their Performance as a whole. I really wish there was an Option for ten stars. 5 stars are just not enough

Tyler H

We’ve worked with Derrick twice now. He’s professional yet easy to work with, and understanding of high emotions that come with buying a home. Would go back a third time if that time comes.

Jenkins 9

Derrick & his staff try there best to walk you through the loan process. If you don't understand something. They are there to help! 10/10 Recommend 🙂

Ashley P

Derrick and his team is amazing! I had such a good experience buying a house through him! I would never go to anyone else!

Abagail D

Derrick did an awesome job and I willContinue to work with Derrick in the future and I do recommend him to others.I called in with a request that I personally knew was a big ask and knew it was going to be a stretch because of time. Derrick rose to the challenge with open arms and gotto work. I had clear communication and support through this whole process.Derrick is a true professional! He personally helped myself and my family acquire a dream home and property Thank you so much for all you hard work and support that you do and know we couldn’t have done this without you

Jason S

Derrick was great to work with. He was very friendly and always extremely patient with my many many questions.

Brittany F

My experience was excellent. Every question I had was answer. Even questions I didn't know I needed to ask or explain to me. I won't go anywhere else

matt s

He went above and beyond for us. He is amazing!

Emily W

All that needs to be said is the man gets the job done !!!!!

tyler t

Great experience working with Derrick Foster! Would recommend to anyone buying a home!

Cameron W

Derrick was very easy to communicate with. And walked me thru everything. Highly recommend him to anyone. Thank you for everything!

Jonathan P

Derrick and Brenna have been such a great help with the process of getting financed for our first home! Very down to earth and easy to work with, and experienced! We are very pleased.

Hannah E

Great experience! Everyone was very knowledgeable and helpful.

Tracy D

Derrick was amazing! He went above and beyond and made this whole buying process so easy for us! The whole team was great and did awesome work for us! Thank you!!

Britny

Derrick communicated with us regularly during the purchase process. There were no hidden surprises along the way. He listened to what our needs and wants were and worked to hard to exceed those expectations. Secure, user friendly technology was used to facilitate the loan process which was extremely beneficial to everyone! I would recommend Derrick and his team to anyone who can appreciate working with a down to earth, respectful person who happens to have a good sense of humor in the most appropriate times! I would also like to give a huge, well deserved shout out to "Jennifer" who kept the documentation workflow organized and moving forward every step of the way. It couldn't have been done without you!

Julie A

Great experience! Everyone was very knowledgeable and helpful.

Tracy D

Derrick made this process go really smoothly. He explained the process so well step by step and for first home buyers that meant a lot. He also was very attentive and answered all questions we had great response time. Definitely a great choice.

Ian F

They work with you every step of the way of buying a home!

Alesha L

Derrick was amazing through the entire loan process! He is an excellent communicator and very knowledgeable! I could not have asked for a better home buying experience.

M S

I would never take my business anywhere else. Just an amazing group of people to work with. So simple and easy.

Chris M

I will recommend Derrick Foster and his team to everyone. He goes above and beyond for his clients. My wife and I did not have perfect credit, so if there is a possibility to get the loan approval, he will find it. We have went through Derrick on four different occasions and he has always made it easy on us and never had any issues. Easiest home mortgage loan you will ever apply for. My wife and I are definitely customers for life! Thanks Derrick!

Chris M

Derrick and his staff were fantastic at helping us purchase our first home. They were extremely quick and made everything easier in the home buying process. Our realtor, who'd never worked with him, stated he was one of the best lenders she's had the pleasure of working with. Thank you all for making everything wonderful in our journey to grow our family!

Dustin C

I appreciate everything that was done. You went above what would normally be expected. We love our new home…

Roger H

Everything went fairly smooth! I wasn't sure what to expect but the team made it super easy

Candice A

Easy and simple it was over all a awesome experience for buying my first home

Robert P

Very helpful, responsed quickly, kept us informed and update on everything going on and didn't drag it our. Highly recommend Derrick and his associates.

Heather M

It was outstanding, Derrick was great to work with and made the hole experience quick and painless. I would recommend him to anyone!

Keith M

Quick. Continuous, consistent updates.The whole team assisted me in the purchase of my first home. They were absolutely wonderful and kept me in the loop the whole time.

Kelly G

The experience was great, all info given was forthcoming and very helpful. If I ever need the help in the future I would request you all for the help.

Daniel A

Great company. Derrick will go above and beyond to help in anyway. Highly recommend

Mary R

Saved me money. Helped me through the whole process

Johnny C

Derrick did great helped me get my loan fast and efficiently.

Brady F

I first talked with Derrick when we started looking for houses around the Brookville area in July 2025.  I can’t thank Derrick enough  of the work that he done on financing our new house.   Even though we have never met in person, my wife and myself consider Derrick a friend. When I think of the ultimate in customer service we will always think of Derrick Foster.  Our 6 month journey of finding, financing and moving into a new house has been an up and down coaster ride of highs and lows.  His communication  is top notch.  There was many calls in which I called and received calls on the weekend and evening hours regarding the progress of our loan.   Even when there was no activity on my house he would call every week to check on the progress or if I heard anything.  Thank you Derrick Foster for everything.   God bless you and your family.   Dave and Elaine Ethridge3/3/2026

Dave E

Goes above and beyond for the customer.

Scotty M

Fast and easy loan process great to work with had answered any questions we had with a fast response time

Jeremy B

I would highly recommend Derrick to anyone he is an outstanding standing guy and he get the job done quick and timely matter

Chris W

Loan Programs

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A bright, inviting living room featuring a blue sofa, wooden chairs, and a fireplace with logs, perfect for relaxing or entertaining.
DSCR Loans (Investment Loans)

Featured

Beautiful modern craftsman-style house with a landscaped front yard and garage.
A stunning craftsman-style home featuring a welcoming porch, modern design, and the 1% Home Loan Program.
1% Home Loan Program

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Conventional Loans

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Comfortable living room featuring a fireplace, wall-mounted TV, and stylish decor for a welcoming ho.
A welcoming living room with a fireplace, wall-mounted TV, and elegant decor, ideal for relaxing and entertaining in a cozy home setting.
Down Payment Assistance (DPA)

Featured

Refinance Loan
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Supporting veterans and families with VA home loan options and resources.
VA Loans
USDA loan approval process for rural home financing.
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USDA Loans
FHA loan approval process with Preferred Rate for homebuyers.
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FHA Loans
Beautiful blue house with landscaped yard, ideal for low down payment mortgage options.
Charming blue home surrounded by lush greenery, perfect for those seeking low down payment loan solutions.
Low Down Payment Loans
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A charming two-story house featuring a spacious front porch, large windows, and a well-maintained lawn, ideal for HELOC loan considerations.
HELOC Loans
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A smiling couple during a home renovation project, standing on stairs with construction supplies around them.
Home Renovation
Luxury home with a spacious driveway and well-maintained landscaping for jumbo loan financing.
Explore jumbo loan options for financing high-value homes like this beautiful property.
Jumbo Loans
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Comfortable man working on a laptop at home, highlighting flexible bank statement loan options for homebuyers.
Bank Statement Loans
Construction financing solutions for building your dream home or project. Expert guidance for seamle.
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Construction Financing
Beautiful manufactured home with a welcoming porch and landscaped yard.
A charming manufactured home featuring a spacious porch and lush landscaping, ideal for comfortable living.
Manufactured Home Loans
Colorful Victorian-style condominiums with detailed architecture and lush greenery.
Beautiful Victorian-style condominiums with intricate details and vibrant colors, perfect for condominium loan options.
Condominium Loans
Healthcare professional loan options for doctors and medical staff. Secure funding to grow your medi.
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Medical Professional Loans
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First Responders | Nurses | Teacher Loans
Affordable community lending options for homebuyers.
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Community Lending
Buydown mortgage rates with temporary payment reductions.
Learn how temporary buydowns can lower your mortgage payments during the initial years of homeownership.
Temporary Buydowns
Modern two-story house with garage, ideal for bridge loan financing.
A contemporary two-story home with a spacious garage, perfect for real estate bridge loans and investment opportunities.
Bridge Loans
Expanded Income Loans for Home Improvements.
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Expanded Income Loans
Loan options for international clients seeking financial solutions.
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Loans for Foreign Nationals
Home loan options for quick approval and competitive rates.
Simplify your home buying process with Preferred Rate's SmartBuy program.
Click n’ Close SmartBuy National DPA
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Expanded Credit Loans
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Reverse Mortgages
Seller PreLock Program for homeowners to secure home sale options.
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Seller PreLock Program
Preferred Rate Pathway DPA Program interior design.
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Pathway DPA Program
Rhyze HELOC
Secure lock program for home safety and security.
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Secure Lock Program

Refinance With Purpose

Every refinance starts with a goal. Whether you want to lower your payment, shorten your term, or access equity, we’ll build a strategy around
what matters most to you.

Consolidate Debt

Simplify what you owe. Use your home’s equity to combine high-interest debt into one  payment.

Lower Payments

Improve monthly cash flow. Even a small rate adjustment can create  savings over time.

Get Cash Out

Access equity with intention. Turn your home’s value into funds for renovations, education, retirement, or financial goals.

Change to Fixed Rate

Stabilize your payment. Move from a variable rate to predictable payments built for long-term planning.

Refinance VA Loan

Use a VA refinance program to improve your terms, access cash, or reduce your monthly payment.

Discover your home’s value instantly.

Get a personalized home value report powered by real market data. Track equity, explore trends, and stay informed about your property and mortgage loan.

Home loan approval process with competitive rates at Preferred Rate. Secure your mortgage today with.
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