Lock in a Low Mortgage Interest Rate with Reali Rate Lock

July 30, 2020


When it comes to home buying or refinancing an existing mortgage, securing an interest rate you’re comfortable with is essential. Despite being at historic lows, mortgage interest rates still fluctuate multiple times a day. These frequent shifts can save you money or end up costing you thousands over your loan period. But we’ve got good news! Now with all-new Reali Rate Lock, you can secure an interest rate that fits your budget before you’ve even completed your loan application. 

 How Reali Rate Lock helps home buyers save money.

A Reali Rate Lock eliminates the risk that the rate on your pending loan will go up before you have a chance to finish your application. And unlike traditional lenders, Reali guarantees qualified customers can lock in a rate in a few minutes using our online platform—and without waiting for approval from a Loan Officer. Our goal is to do whatever we can to streamline and accelerate every stage of the homeownership process by eliminating paperwork, stress and frustration. 

“Reali Rate Lock is another example of how we are simplifying the mortgage process through technology innovation.” —Amit Haller, CEO, Reali 

How Reali Rate Lock works:

  • Find a rate you’re comfortable with, then lock in that rate in minutes at any point in the application process
  • Purchase borrowers must declare that they have signed a purchase agreement and upload it (but that’s the only document necessary!)
  • There’s no loan officer necessary, so we pass the savings on to you 
  • Once it’s locked, your interest rate won’t change and we protect you from higher rates
  • Lock periods typically last anywhere from 30-45 days depending on the loan application cycle
  • The Reali Rate Lock feature is only available to customers who have submitted the application and whose credit check is verified for certain conditions (e.g. no active bankruptcies).

Is a mortgage rate lock worth it?

The short answer is: Yes. The advantages of using Reali Rate Lock seriously outweigh any of the potential risks. With our loans, you get total transparency and lower costs. Start your application process online, move at your own pace and activate your rate lock anytime. If you decide not to lock in a rate that fits your budget, you may eventually need to make a higher down payment if rates increase. 

“The industry hasn’t seen low rates like these ever. Whether you’re a new home buyer or refinancing your current home, now is the perfect opportunity to lock in a rate given the current market environment.” —Jason van den Brand, Chief Lending Officer, Reali Loans

When is the right time to lock in your mortgage rate?

There are two questions to ask yourself before locking in a mortgage rate: 1) Am I happy with the pre-approved rate? 2) Can I afford to make the corresponding monthly payment? If you can answer yes to both of those questions, it’s time to strongly consider using Reali Rate Lock. Predicting whether rates will go up or down is essentially impossible, so trust your gut, get the best rate you can and lock it down hassle-free and completely online.  

Ready to get started or have a question about Reali Rate Lock?

Download the app or call us at 1-844-Hi-Reali

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