Frequently Asked Questions

About Reali

Reali makes the home loan and refinance experience honest, fast and completely online. Reali allows you to complete your home loan entirely online. We prioritize customer convenience and transparency to remove all uncertainty from the refinancing process. Enjoy lower rates, lower fees, and a faster close with Reali!
Yes, Reali is a direct lender. You will work with our friendly team members from your rate quote through to closing. You’re also able to access the real-time status of your loan online at our website at any time.
Reali currently operates in Arizona, California, Colorado, Florida, Georgia, Illinois, Michigan, Oregon, Pennsylvania, Texas, Virginia and Washington. We will be in more states soon!
Of course you can refer a friend! We'd love to work with your network of family, friends and colleagues.
It depends on your situation. Typically, for both home purchases and refinances, the timeline is usually 30 days or less. However, if you want to purchase a home and the seller is asking for a shorter time frame, please contact us. If the seller is asking for a longer timeline, we can do loans with a longer escrow.
We do not currently service our loans. When your loan funds, we tell you who to make payments to and how to make them. We have vetted the quality of each servicer we work with.


Typically a pre-qualification is when a lender qualifies you based on your self-reported information on credit, assets, and income. This requires no documentation and can be done in seconds. At Reali, we encourage our customers to get pre-approved, as real estate agents tend to value pre-approvals more.

Pre-approval is a more comprehensive evaluation, and therefore more likely to lead to an official approval. It requires you to fill out a full mortgage application and upload documents that validate your self-reported information. We will pull your credit and render a decision.
Yes. Typically, self-employed borrowers will need to prepare more paperwork that shows solid proof of income, such as two years' worth of tax statements.
Yes, we currently work with borrowers who own up to 6 properties.

Loan Products Available

At this time, we do not offer loans for manufactured homes or mobile homes.
At this time, we only offer loans for residential properties.
Yes, under the guidelines of Fannie Mae and Freddie Mac.
Yes we do. You can get a mortgage or a refinance loan with Reali.
We are a rapidly growing company and we are currently building infrastructure to be able to handle the additional volume that will come with expanding into different states. Look for us in your home state soon!
We do not currently offer sub-prime or any other loan that is not guaranteed by Fannie Mae or Freddie Mac, but we are working 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).

Purchase Loans

Yes - getting pre-approved helps define the price of the home you can afford.
Earnest money is a deposit made to a seller that shows the buyer's good faith in the transaction. It basically means they are really interested in purchasing the home, even though they haven't finished the entire transaction yet. Earnest money is typically held jointly by the seller and buyer in a trust or escrow account. In the event that the transaction doesn't go through, the seller gets to keep the earnest money, so getting pre-approved is super important if you're interested in an earnest money deposit.


Like all mortgage lenders, our rates are calculated based on the 10-Year Treasury market rate, plus a spread. Rates change daily based on a variety of factors, including market conditions and expectations around adjustments to the federal funds rate.
Yes - click the “See Rate 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!
After you fill out our online application, you will see a Loan Estimate that provides details on all loan terms, but you will still have a floating rate. Your Reali Home Loan Advisor will reach out to you to perform a final confirmation that you want to lock the loan, and they you will receive confirmation of a locked rate within 24 hours. Alternatively you can call us at 1-855-846-7334 to speak to a Home Loan Advisor and lock right away.
Your rate is usually locked for 45 days. Your home loan advisor will let you know how long it is locked for when your loan is locked.
Yes. The Rate Quote page provides a variety of 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 in accordance with 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 occur when we identify an issue with your application that would cause the loan to be denied unless the issue is resolved.
Reali's pricing is directly tied to fluctuations in mortgage bond markets in order to offer you the best pricing at any given time.. As a result, when the market goes up, so does our pricing, but it also means that when the market goes down, you get better pricing. Pricing sometimes only changes at the beginning of the day, but can change a few times during the day depending on the volatility of mortgage bond markets.

If you see pricing on our site that fits your budget, reach out to us immediately because the faster you act, the faster you can lock in this price.
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. The better way to think about this is to consider at what interest rate you are not having any costs for the loan. Then take the cost differential of doing the loan at whatever interest rate you're looking at and divide it by the amount of money you'd save in terms of your monthly payment at that interest rate. The number expressed will be the number of months it will take for you to break even on the cost of the loan at that interest rate. If you're going to be in the home (or keep the loan) more than the number of months in your calculation then it may make sense to buy down the interest rate.

Reali Appraisal Deposit

Ordering an appraisal: To find out what your home is worth, we hire an independent appraiser to give an unbiased opinion of your home's value. (Remember, as your lender, we have no influence over the outcome of your appraisal).
The deposit is $500, which is applied to the amount of your appraisal. Appraisal amounts vary – they're usually anywhere from $400-$750 – mostly depending on your state and property type. Reali does not control the cost of the appraisal; it is determined by the Appraisal Management Company. (Remember, as your lender, we have no influence over the outcome of your appraisal). You can use credit, debit and prepaid Visa® or MasterCard® gift cards for your full deposit amount. We don’t accept checks, money orders or cash, as they tend to add weeks of processing time. We take pride in making home loans fast, honest, and completely online. Your Home Loan Advisor and Customer Success Manager are here to help you every step of the way.
Your deposit may or may not be refundable, depending on the status of your loan. 1) When you close your loan, we credit your deposit – in full – to your closing costs. For example, if your closing costs are $2,000, and you gave us a $500 deposit, you will only need to bring $1,500 at closing. This will be reflected on your closing statement. 2) If we have not ordered your appraisal for any reason, and do not move forward with your Reali home loan, the $500 appraisal fee will be refunded in full. 3) If your mortgage application is denied for any reason, including appraisal value coming in lower than needed for your loan terms, or if you decide not to go forward with your loan, we'll refund your deposit minus any appraisal costs incurred up to that point. For example, if you gave us a $500 deposit, and $350 was spent on an appraisal, you will be refunded the difference of $150. If the appraisal cost $500 or more then you will not be eligible for a refund. 4) In the event of a refund, processing times may take up to 14 days from the time you request your refund before being received by your bank or financial institution.
Your Home Loan Advisor or Customer Success Manager can help answer any questions. You can also call our toll-free support line at (855) 846-7334. Your team can answer any questions you have about the deposit.

Working With Reali

After you submit your loan application, we will review and get back to you with one business day.
You'll pay for an appraisal for your home about midway through the process of working with Reali. The cost of the appraisal is not refundable even if your loan is not approved, however you won’t pay for this unless we have a strong confidence that we can approve your loan through to completion.
Most of the time this is not an issue. If your credit score does come back and will affect your rate or your loan in any way, we will speak with you prior to taking any action.
Nope! Reali pays for the fee for you.
We use tax transcripts ordered directly from the IRS to verify the income of our borrowers. We do this for a variety of 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 that are not captured in W2 income from an employers, such as: ownership interests in any businesses; rental income and expenses from any owned properties; unreimbursed business expenses. 3) The government GSEs, Fannie Mae and Freddie Mac, require it.

Your Loan Closing

The balance on your impound account with your prior lender will be transferred directly back to you.
Yes. We can send a mobile notary to wherever you are located. Note that the subject property being financed must be located in a state that Reali currently lends in.
When certain fees such as property taxes and homeowner's insurance are due within a certain 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 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 4/10/2017, but the initial due date is 2/1/2017.


Reali takes strong 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.

We use administrative safeguards like 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.
To protect your personal information, your session will time out after 45 minutes of non-use at 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.