Frequently Asked Questions

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.

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).

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.

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.

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.

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.

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.