in Mortgage Refinance from Reali Loans
Would you recommend Reali Loans to your friends?
Thanks for your vote!
You voted: May or may not recommend
|Community Rating||Strongly recommended|
|Loan Term||15 - 30 years|
|Loan Amount||$100,000 - $2,500,000|
Reali Loans Review
Reali Loans is a mortgage refinance offering by Reali Loans, a direct lender based in San Francisco, CA. Founded in 2012, Reali Loans offers mortgage refinancing to borrowers in 12 states across the USA.
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 determine 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 offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with Reali Loans?
Reali Loans will typically approve (or deny) a mortgage refinance application within 48 hours and fund mortgage refinances within 14 days of approval.
Does Reali Loans charge a mortgage origination fee?
No, Reali Loans 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.
Does Reali Loans charge prepayment fees?
No, Reali Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs does Reali Loans offer?
Reali Loans offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
What property usage types does Reali Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Reali Loans allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
|No Origination Fee|
|No Prepayment Fee|
|Immigration Status Considered||
|Employment Statuses Considered||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$100K - $2.5M|
|Loan Term||15 - 30 years|