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Reali Mortgage Review


ConsumersAdvocate.org Rating: 4.3 / 5 (Excellent)
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Reali is a full-service, California-based real estate company that offers fast, transparent, technology-forward solutions. Designed to take excessive commissions and fees out of the mortgage process, Reali only charges a low, flat transaction fee and no origination charges. After acquiring Lenda (now Reali Loans) in 2019, Reali expanded to offer mortgage and refinancing options for homebuyers and homeowners in 14 states. In less than 5 years, Reali has cemented a winning reputation with an A+ from the BBB and a 4.7/5 on Trustpilot.
 
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How is Reali rated?

Breakdown

4.5/5
Lender Types
4.5/5
Available Mortgage Types
4.5/5
Customer Experience
4.5/5
Reputation & Transparency

Overall Rating: 4.3 / 5 (Excellent)

Reali is a real estate brokerage offering a hassle-free approach to mortgage loans. With no paperwork, no hidden fees, and no long waiting times, Reali is ahead of the competition with regard to speed and convenience. The major drawback about their service is that it's only available in certain states. Despite not being an option for a great majority of consumers, eligible applicants can expect this company to deliver on their promise of a transparent, easy-to-follow loan application process, and personalized assistance from start to finish.

Reali Loan Specifics

Available Mortgage Types - 4.5 / 5

Reali currently offers fixed-rate mortgages and FHA loans for qualifying individuals residing in the states of Arizona, California, Colorado, Georgia, Illinois, Michigan, Oregon, Pennsylvania, Texas, and Washington. The company doesn't state what their loan limits are, yet being as they conform to underwriting guidelines stipulated by Fannie Mae and Freddie Mac, it's safe to assume the maximum amount for a home in a high-cost area can range from $679,000 to $1 million, depending on the size of the unit. The company offers pre-approval and prequalification for eligible applicants and states they do not charge an origination fee or brokers fees.

Types of Mortgage Loans Offered

  • Fixed Rate 10 Year
  • Fixed Rate 15 Year
  • Fixed Rate 20 Year
  • Fixed Rate 30 Year
  • Jumbo Fixed Rate
  • VA Fixed Rate

Reali Customer Experience

Customer Experience - 4.5 / 5

Reali offers rate comparisons, quick quotes, and a straightforward application process that is as convenient as it is simple. Prospective customers looking to compare rates should keep in mind the company only services select states, offers a limited selection of loan products, and does not underwrite loans for under $85,000. Applicants can expect to start receiving loan offers in as little as one business day and have some additional tools at their disposal, such as a mortgage calculator and information on the types of loans the company offers.

Online Features

Online Application
Yes
Online Quote
Yes
Additional Tools and Resources
Mortgage Calculator
Help Articles
SSN Required for Quote
No

Reali Qualification Requirements

Qualification Requirements - 4.3 / 5

Reali requires a minimum FICO credit score in the 620 range. Like most lenders, the company will require proof of uninterrupted employment or stable income, yet is willing to work with self-employed borrowers.

Key Requirements at a Glance

Minimum FICO Score
620

Reali Lender Reputation

Reputation & Transparency - 4.5 / 5

Reali is a San Mateo-based direct lender founded in 2015. As a newcomer to the mortgage finance and refinance industry, the company has yet to establish itself among other top players offering similar products and services. Reali is, however, accredited by the Better Business Bureau and holds an A+ rating with the organization. What's more, the company has an excellent reputation of Trustpilot with a 4.7 score out of 5 and an overwhelming 93% positive reviews.

Key Facts

Lender Type
Marketplace
Year Founded
2015
BBB Rating
A+
Trustpilot Rating
4.7 out of 5
Collection Date
2019-10-16

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
991397
The Nationwide Mortgage Regulatory Actions
1
Consumer Financial Protection Bureau Complaints
0

Company Profile

Full Name
Reali Mortgage
Company Website
https://reali.com
Headquarters
777 Mariners Island Blvd. #210, San Mateo, CA, 94404

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