Reali Loans Mortgage Refinance

Reali Loans Mortgage Refinance Review

Reali Loans Mortgage Refinance is offered by Reali Loans Inc. (NMLS #991397), a direct lender founded in 2013 and based in San Mateo, CA. Reali Loans Mortgage Refinance are available in 12 states across the USA.

Key Takeaways

• No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
• No origination fee. Reali Loans Mortgage Refinance does not charge a fee for processing your application on some loan options.
• Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
• 3 different mortgage programs offered. Reali Loans Mortgage Refinance refinances jumbo, and conventional mortgages.
• Financing for single-family and multi-family properties. However, Reali Loans Inc. does not offer financing for manufactured homes.
• Refinancing for large mortgages. You can refinance mortgages with balances of up to $2,500,000 with Reali Loans Mortgage Refinance.
• Standard interest rates types. Reali Loans Mortgage Refinance only offers fixed-rate mortgages.
• Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Fast process. In some cases you can refinance your mortgage loan within 5 business days.
• High maximum LTV ratio. Reali Loans Mortgage Refinance has a maximum loan to value ratio of 97%, which is higher than average. Most lenders want you to have at least 20% equity.
• Lender fee waiver. Existing customers don't have to pay lender fees if they refinance again in the future.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Reali Loans Mortgage Refinance.
• Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Reali Loans Mortgage Refinance.
• High maximum DTI ratio. Reali Loans Mortgage Refinance has a maximum debt-to-income ratio of 50%. This ratio includes all your monthly debts, not just your proposed mortgage payment. Typically, lenders have a maximum DTI of 43% or lower.

Reali Loans Mortgage Refinance Pros & Cons

Reali Loans Mortgage Refinance FAQ

What range of mortgage balances will Reali loans refinance?

Mortgage refinancing loans start at $100,000 and go up to $2,500,000

What is the maximum loan term for a mortgage refinance via Reali loans?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Reali Loans Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.

How long does Reali loans take to refinance?

Generally, it takes Reali loans between 5 and 14 days to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.

Does Reali loans charge a mortgage origination fee?

No, Reali Loans Mortgage Refinance does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.