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  Reliant Bank Mortgage
Reliant Bank Mortgage
in Home Loans from Reliant Bank · NMLS ID #527661
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Reliant Bank Mortgage

Unaffiliated
in Home Loans from Reliant Bank · NMLS ID #527661
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Highlights
Loan Amount Up to $400,000
Loan Term (Years) 15 - 30 years
Credit Score Range Starting at 620
No Origination Fee N/A

Reliant Bank Mortgage Review

Reliant Bank Mortgage is offered by Reliant Bank (NMLS #527661), a bank founded in 2006 and based in Brentwood, TN. Reliant Bank Mortgage is available in 2 states across the USA.

Key Takeaways

  • Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
  • 4 different mortgage programs offered. Reliant Bank Mortgage offers FHA, FHA 203k, VA, jumbo, conforming, and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. Reliant Bank Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • High maximum LTV ratio. Reliant Bank Mortgage has a maximum loan to value ratio of 90%, which is higher than average. Most lenders want you to have at least 20% equity.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Reliant Bank Mortgage.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Reliant Bank Mortgage.

Reliant Bank Mortgage Pros & Cons

Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 2 states.

Reliant Bank Mortgage FAQ

How much can you borrow via Reliant Bank?

Reliant Bank Mortgage allows borrowers to apply for loan amounts of up to $400,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Reliant Bank Mortgage?

Reliant Bank Mortgage offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Reliant Bank offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does Reliant Bank Mortgage charge an application fee?

No, they don't charge an application fee. However, the cost of the loan process is most likely included elsewhere in the closing costs.

Do they charge mortgage origination fees?

Yes, Reliant Bank Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Reliant Bank Mortgage offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Reliant Bank Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Reliant Bank Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Reliant Bank Mortgage is (877) 221-2050.

What is the support contact email?

The support contact email for this business credit card is corrsales@reliantbank.com.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 4:30pm
  • Tuesday 8:30am - 4:30pm
  • Wednesday 8:30am - 4:30pm
  • Thursday 8:30am - 4:30pm
  • Friday 8:30am - 5:00pm
  • Saturday Closed

About Reliant Bank Mortgage

Availability

  Available in 2 states
  • Arizona
  • Tennessee

Feature Breakdown

Credit Score Range 620 -
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Maximum LTV 90%
Minimum Age 18
Minimum Down Payment Starting at 3.5%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
  • Manufactured/Mobile Home
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Proof of Insurance
  • U.S. Tax Identification Number
  • Social Security Number
  • Employer Identification Number
Investment
Primary Residence
Mortgage Features Instant Online Preapproval
Loan Amount Up to $400,000
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • FHA 203k
  • VA
  • Jumbo

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