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Reali Mortgage Refinance Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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Reali is a full-service, California-based real estate company that offers fast, transparent, technology-forward solutions. Established to streamline the mortgage process and minimize the unnecessary fees, Reali waives loan origination charges and extends competitive rates to its customers. In 2021, the company was recognized as one of Forbes Best No-Origination-Fee Lenders in the nation. 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 4.7/5 from Trustpilot.
 
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How is Reali rated?

Breakdown

4.3/5
Loan Variety
4.5/5
Ease of Process
4.5/5
Customer Service and Reputation
4.0/5
Discounts and fees

Overall Rating: 4.4 / 5 (Excellent)

Whether you want to consolidate your current mortgage, cash-out, get lower mortgage rates, or lower your mortgage payments, Reali has a program. Reali offers consumers conventional, rate and term, and cash-out refinance loans, as well as home loans.

Reali features fixed-rate refinance loans, with terms ranging between 10 and 30 years, which is great for those looking for flexibility. Reali’s application process is fast and straightforward, and consumers can apply for loans online, or over the phone.

The company’s website is easy to navigate, and has great tools such as articles, a refinance calculator, and an FAQ section, to help consumers make smart decisions.

Additionally, consumers can send Reali refinance estimates from other banks, and Reali will better the offer, setting it apart from other lending companies reviewed by us. In addition to conventional loans, Reali also offers Jumbo products.

If you’re looking for a company that offers conventional refinance loans with competitive fixed-rates and speedy application process, Reali is definitely an option to consider.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Cash-out
Refinance
Loan Programs
Conventional
Jumbo
Fixed Year Terms
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed

Loan Variety - 4.3 / 5

Reali offers a range of mortgage refinancing options with great mortgage rates and low closing costs. The company keeps the refinance process easy by offering a hassle-free application and pre-approval process.

Consumers can apply for refinance loans to lower their current rates or payments, switch to fixed rates, change their current loan products, to consolidate mortgages, change the term of their mortgage loans, drop PMI (if they have at least 20% equity in the property), to better their borrower profile, or to buy out a co-owner.

Application Process

Minimum Credit Score
620
Waived Fees
Reali doesn't charge lender fees, application fees, underwriting fees, or origination fees (unless customers buy down points)

Ease of Process - 4.5 / 5

Reali’s mortgage refinance application process is easy and straightforward. Consumers can complete the application online or over the phone by providing the refinance purpose (lower payments, lower rates, get cash, pay off faster, or switch to fixed rate), current mortgage balance, estimated home value, zip code, and estimated credit score.

In order to get a more accurate rate, consumers can also put the type of property, property use, their annual income, monthly debt (excluding mortgage payment), current mortgage term and interest rate, and year the current mortgage was made, among other things.

Once consumers provide all the required information, they’ll get a free estimate on their refinance loan, which includes the loan’s APR, monthly payments, and the loan’s settlement and closing costs.

Additionally, applicants can send Reali an email with estimates from other banks, and the company will better the offer, which ensures them an excellent deal.

Reali Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
991397
Nationwide Mortgage Regulatory Actions
1
NMLS Collection Date
2018-11-06
CFPB Collection Date
2016-10-16

Online Reviews

BBB Rating
A+
BBB Positive Reviews
0
BBB Negative Reviews
1
BBB Neutral Reviews
0
Date Collected
2016-10-16

Customer Service and Reputation - 4.5 / 5

Reali was founded in 2015, so it’s a relatively new company in the industry. The company has a BBB rating of A+, which is excellent, with zero complaints filed in the last four years. Similarly, the company has an excellent TrustPilot score of 4.7/5 with 93% of positive reviews from customers. Additionally, there appears to not be any complaints filed against it with the CFPB.

Reali has only 1 regulatory action filed against it with the NMLS dating back to 2015. Reali offers customer support via email, and over the phone, Monday through Friday, 9:00 a.m. to 5:00 p.m. PT.

Contact & Additional Information

Homepage URL
https://reali.com
Company Phone
(844) 447-3254
Headquarters Address
777 Mariners Island Blvd. #210, San Mateo, CA, 94404
Year Founded
2015

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Customer Comments & Reviews

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J
jessemullinax
2/23/2016
This company is a joke. I have been trying to get my home loan since Nov. 2015. They kept rushing me to pay for an appraisal saying we just want to close your home loan in 1 month, hahahaha yeah right. I submitted all my details required, paid for a home appraisal that came back great, however this loan was never closed because this company can not get their act together. I highly advise everyone not to even give this company 1 second of your time. I wasted my time, money and never got my loan as promised and now the rates have gone up. If only i could take legal action!

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