Frequently Asked Questions

All the answers to your questions about Reali products, services, and our team. Browse the FAQs below to stay up on the latest.

Have another question? Give our team a call at 844-447-3254. We're available 7 days a week from 9 am to 6 pm PST.

About Reali

Reali provides the same hands-on, local support that you would expect to receive from a traditional agent, at a fraction of the cost to buyers and sellers. Our streamlined and sophisticated processes, including our one-of-a-kind Reali App, make our work more efficient so that we can conduct business with less overhead. The result: we pass that savings on to you.

Both! We have a team of local Reali Agents throughout California supporting both buyers and sellers. For our buyers, we have the Reali App, which allows you to search listings, schedule appointments, chat with your agent, place offers and more -- all from within the app! Sellers can use the app to kick off their home selling journey and manage the transaction. Find your local real estate agent.

There's more than one way to buy a home with Reali. With Reali Cash Offer, we'll front you the cash you need to place an ALL CASH offer on the home you want. This makes your offer much more competitive, more appealing to sellers, and most people who place a cash offer are able to get the home they want for 2% below asking price. That's thousands of dollars saved! Learn more about Reali Cash Offer.

Buying a new home while selling your old one? With Reali Trade-In, you'll use Reali's cash to place a competitive ALL CASH offer on the new home you want. You move in whenever you're ready. Then, we'll list your old home with cleaning, prep, and staging included! When that home sells, you'll use the proceeds from that sale to buy your new home back from us. (It's actually a lot simpler than it sounds.) Learn more about Reali Trade-In.

Reali is currently available to buyers and sellers in most major markets throughout California.

Yes, we're Reali real! We are certified Best of Zillow agents and are verified by the Better Business Bureau. But don't just take our word for it... see what our home buyers and sellers have to say.

Selling a Home

Great question! All Reali agents are assigned to local regions where they have market expertise, and they are committed to providing an honest and transparent home buying and selling experience. Enter your zip code or city to find and contact your local Reali agent.

Reali will market your home on the MLS and other online search platforms like Trulia and Zillow, PLUS our Reali App and its very own personalized web page with a Matterport virtual home tour, floor plan, and paid advertising. Learn more about how we will market your home. 

No! We will promote your home on the MLS and other online search and digital platforms like Zillow, Trulia, Google, YouTube, Facebook, and Instagram.

Once your home listing is live, you’ll get real-time updates on buyer activity, offers and escrow right through the app. Follow along with the sales process every step of the way, so you always know the status of your listing as our agents negotiate a fast close at the best price.

Buying a Home

When you work with Reali, we pass up to 1% of the home purchase price along as a cash rebate after close. For example, on a $1 million home, you get up to $10,000 as a cash rebate.* With three ways to buy, we have more options to help you save thousands. Learn more about our buyer Cash Rebate.

Your Reali Cash Rebate will be in your bank account within 7-10 days after close of escrow.

Your Reali Cash Rebate will be 1% of the home purchase price. For example, on a $1 million home, you get up to $10,000 as a cash rebate.* See what you could get back using our Reali Rebate calculator.

*Buyer’s agent fee subject to change. Cash rebate rates assume the seller pays a 2.5% buyer agent commission. The buyer’s agent commission must meet or exceed 1.5% of list price or $5,000 (whichever is greater) before the transaction is eligible for the Reali Cash Rebate. If the buyer agent compensation paid by the seller is a referral and not a percentage-based commission, then the Reali Cash Rebate does not apply.

Download the app and start browsing homes. Once you are ready to schedule a visit, we'll get you Verified and connected with your local Reali Agent, who will join you on your scheduled listing visits. From there, they'll stay with you through the entire buying process, using their knowledge and expertise to help you to find and WIN the home you want.

Yes! Your local agent will meet you at your scheduled listing visits.

When you find a home you're interested in checking out, just use the Reali App to schedule a visit. Open the app and browse the listing of the home you want to see and click on the Schedule a Visit button. All we ask is that you verify your identity before visiting a home with one of our Experts. This helps us check that you're really you and keeps our Experts safe. To verify your identity, go to your Journey in the app, click on Schedule a Visit, and hit Verify Your Identity to submit your proof of ID.

Yes! You can work with Reali to purchase any property available and listed in the Multiple Listings Service (MLS). You can use the Reali app and receive our Reali Rebate when we represent you, even if we are not listing the home you want to purchase.

Unfortunately, if you're already working with an agent, you're not able to buy your home through the Reali App. There are many benefits to choosing Reali. If Reali represents you, you'll be able to utilize the Reali App to manage your home buying journey while you work with your dedicated, licensed Reali Agent to find a home. Plus, buy your home with Reali and you get our commission at the end as a Reali Rebate!

The Reali App

Yes! The Reali App is compatible with iOS (9 and higher) and Android (5 and higher). Download the Reali app for your smartphone.

So much. The Reali App supports your entire home buying and selling journey. You can search for homes, chat, schedule on-demand visits, request property reports, place offers, and more. And if you’re selling a home, you can find out how much your home is worth and schedule a listing appointment with your Reali Agent right in the app to list your home up to 2 weeks faster. You can also store your important documents, manage your offers, and get live updates throughout the entire process. Everything you do in the app is with the full support of licensed Reali Agents. They work with you throughout your journey to make sure you have the best experience possible!

When you are in the app, click on the chat feature to begin a discussion with your Expert team. You will be able to chat with our extended team to ask questions, request information, and more. Once you are working with a Reali Agent, you'll be able to talk to your assigned agent via phone and in-person meetings.

Reali Agents are available to chat through the app 7 days a week, 9am-6pm PT.

When you find a home you're interested in checking out, just use the Reali App to schedule a visit. Open the app and browse the listing of the home you want to see and click on the Schedule a Visit button. All we ask is that you verify your identity before visiting a home with one of our Experts. This helps us check that you're really you and keeps our Experts safe. To verify your identity, go to your Journey in the app, click on Schedule a Visit, and hit Verify Your Identity to submit your proof of ID.

Reali Verified customers are able to schedule visits in the app. Verifying your identity helps us check that you're really you and keeps our Experts safe.

Congrats! To place offers in the Reali App we ask that you get Reali Verified and provide financial verification. That means, uploading your ID, a written pre-approval letter from your lender stating how much you can borrow, and a proof of funds statement that says you have enough money for the downpayment and closing costs. If you're purchasing a home with cash, your proof of funds would show that you have enough money for the entire purchase price plus closing costs.

If you’re thinking about selling your home, download the Reali App and select the Seller Journey to get started. From there, you will navigate to the Evaluate section of the Journey and click on ‘Request Home Valuation’. Fill out the form in the app so our team can pull data to look up the property’s value.

Resources you need to succeed.

From understanding state-mandated safety measures to discovering our latest stay-at-home technology solutions, get the latest insights into California’s dynamic real estate market.

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Answers to all your questions about home financing with Reali Loans. Learn more about mortgage pre-approvals, loan types, and more.

Have another loan-related question? Give us a call at 855-846-7334 or email loans@reali.com. We're available Monday through Friday from 9 am to 5 pm PT.

About Reali Loans

Yes, Reali Loans is a direct lender. You will work with our friendly team members from your quote to closing, saving time and money along the way. You can also access the real-time status of your loan online on our website at any time.

We do not currently service our loans. When your loan funds, we'll let you know to whom you should send your payments. All of our loan servicers are thoroughly vetted.

Reali Loans currently operates in Arizona, California, Colorado, Georgia, Illinois, Michigan, Oregon, Pennsylvania, Texas, Virginia, and Washington. We're headed to more states soon!

We're a fast-growing company, but we're committed to growing wisely. Our team at work building the infrastructure needed to handle the additional volume, and with that will come expanded services in new states.

Depending on your situation and the type of loan, the timeline can vary. Typically, for both home purchases and refinances, the timeline is 45 days or less. Nonetheless, if you want to purchase a home and the seller is asking for a shorter timeline, please contact us at 1-855-846-7334. If the seller is asking for a longer timeline, we can do loans with an extended escrow.

Loan Types & Products

Yes, we do! You can get a mortgage or a refinance loan with Reali Loans.

We do not currently offer sub-prime or any loan not guaranteed by Fannie Mae or Freddie Mac. We are at work on better risk models for these underserved products.

We do not currently offer adjustable-rate mortgages (ARMs), but we plan to in the future.

No, we do not provide home equity line of credits (HELOCs).

Pre-Approval

Yes! We recommend getting pre-approved as the first step in your home buying journey. In fact, in light of COVID-19, most sellers won't allow you to tour their homes without showing proof of your pre-approval. As a practical matter, getting pre-approved is essential in determining the price of the home you can afford. Don't have a real estate agent yet? We can help with that too. Find a Reali real estate agent near you.

Loan Process

After you fill out your loan application, you will receive an email inviting you to lock your rate online (if you qualify). To do so, simply log in, select your preferred loan, then submit a refundable deposit toward your appraisal fee. Alternatively, your Loan Officer will call you to discuss your loan options and can lock your rate for you. Want to lock your rate right away? Call your Loan Officer at 1-855-846-7334.

If you are buying or selling a home in California, please let your Loan Officer know that you are interested in working with Reali and we will be sure to connect you to our real estate team.

Reali Loans takes vital steps to safeguard information about you and your properties. We maintain a comprehensive security program based on industry standards and best practices to ensure your information is safe from unauthorized access or misuse. We take an in-depth approach to implementing rigorous physical, administrative, and technical safeguards.

Our physical security includes security guards and personnel, building access badges, and a video surveillance system to protect our computing infrastructure from unauthorized access.

Online, your session will time out after 45 minutes of non-use at Reali.com to protect your information. If you are leaving your computer unattended or if you used a public computer, we strongly recommend logging out to protect your information, regardless of how long it will be until your session expires.

We use administrative safeguards like a security training program, employee background checks, and acknowledgment of our Acceptable Use Policy to ensure that your information is only accessed by trained staff on a need-to-know basis to provide services to you.

Technical safeguards like perimeter security, industry-standard encryption, and continuous monitoring ensure that your information is protected with layered and complementary controls. We use SSL technology to create an encrypted connection for all communication between all web browsers and our servers.

The security safeguards are reviewed and adjusted periodically based on ongoing risk assessment. However, despite our substantial investment in protecting your personal information, ultimately, no institution can guarantee its absolute security.

The earnest money deposit (often referred to as the EMD) is a deposit made to a seller showing the buyer's good faith in the transaction. It means the buyer is genuinely interested in purchasing the home, even though they haven't completed the transaction yet. The EMD is typically held jointly by the seller and buyer in an escrow account. Should the transaction not go through, the seller gets to keep the deposit, so getting pre-approved is a critical first step if you'll require the earnest money deposit.

Your Loan Closing

Yes, we can send a mobile notary to wherever you are based. Note that the property you are financing must be located in a state where Reali Loans operates.

When fees such as property taxes and homeowner's insurance are due within a specific timeframe from your closing (the timeframe varies from 60 to 90 days), we as a lender require that these fees are paid at closing as prepaid items. The primary reason for this is that most of our loans are ultimately securitized through Fannie Mae and Freddie Mac, and they require that there cannot be any other liens on a property. A lien could be created if, for whatever reason, prepaid items like property taxes go unpaid, so paying upcoming property taxes through closing reduces the risk for us as a lender.

Note that for property taxes in California, the invoice you receive for them may list a "delinquent date" that is different than the initial due date. For instance, the delinquent date for the first half payment in 2017 is 4/10/2020, but the initial due date is 2/1/2020.

Credit

No, there is no fee to pull your credit report. Our team will pay this fee for you.

We use tax transcripts ordered directly from the IRS to verify the income of our borrowers. We do this for a few reasons: 1) It helps prevent fraudulent submission of income information. 2) Up-to-date tax transcripts show a variety of items that can impact your ability to repay a mortgage and sometimes not captured in W2 income from an employer. Items can include ownership interests in any business, rental income, expenses from any owned properties, or unreimbursed business expenses. 3) The government GSEs, Fannie Mae and Freddie Mac, require it.

Rates

Reali Loans' pricing is directly tied to fluctuations in mortgage bond markets to offer you the best pricing at any given time. If the market goes up, so does our pricing. It also means that when the market goes down, you get better pricing. Pricing mostly changes at the beginning of the day, but it can change a few times during the day, depending on market volatility. If you see pricing on our site that fits your budget, our best advice is to act fast and call us at 1-855-846-7334. The faster you act, the likelier you'll lock in your ideal rate.

Yes - click the “Show Details” button on our Rate Quote page to see an estimated breakdown of fees and closing costs. We do our best to accurately calculate all fees up-front. Rates and fees are only as accurate as the information you provide us, so please be accurate with the information you provide.

Your rate is usually locked for 45 days. When your loan is locked, your Loan Officer will let you know how long it is locked for.

Yes. The Rate Quote page provides various loan options with higher and lower rates based on discount points paid at closing.

Closing costs include all applicable transaction fees and other costs that are necessary to complete the process. We disclose all closing costs following the rules set by the Consumer Financial Protection Bureau.

If you have a complete loan application with uploaded documents, we can usually lock your loan the same day or within 24 hours. Exceptions to this may occur if we identify an issue with your application that would cause the loan to be denied unless we resolve the issue.

This is really up to you. One point costs 1 percent of your mortgage amount (or $1,000 for every $100,000). Essentially, you pay some interest up front in exchange for a lower interest rate over the life of your loan. Your dedicated Loan Advisor can talk you through various scenarios.

Appraisal Deposit

You pay an appraisal deposit so we can arrange an appraisal of your home when you are refinancing. To assess your home's worth, we hire an independent appraiser to give an unbiased opinion of its value. As your lender, we have no influence on the outcome of your appraisal.

Your dedicated Loan Officer is available to help answer any questions. If you don't have a dedicated advisor, call our toll-free support line at 1-855-846-7334.

The deposit is $500, which we apply to the amount of your appraisal. Depending on your location, appraisal costs vary, but they're usually between $400 and $750. Reali Loans does not control the cost of the appraisal; the appraisal management company sets it. You can use a credit, debit, or prepaid Visa® or MasterCard® gift cards for your full deposit amount. Sorry, to keep our process efficient and processing times down, we don't accept checks, money orders, or cash.

Resources you need to succeed.

Use our in-depth resources to grow your knowledge of buying a home and getting a mortgage, or refinancing your current home.

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