Ally Bank
4.5 Bankrate ScoreAlly Bank began offering direct-to-consumer home...
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
Reliant Home Funding is a New York-based mortgage lender that works with borrowers in about half of U.S. states. It offers an array of loan options, including construction loans for new homes and reverse mortgages. This lender might be worth exploring especially if you live in New York, where it can help you navigate a program that allows you to save on costly mortgage and real estate transfer taxes.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, FHA, VA, USDA, refinancing and more
Min. credit score required
620 for conventional loans, 500 for FHA loans, 700 for adjustable-rate mortgages, 620 for renovation loans
Nationwide availability
Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington and Washington, D.C.
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans
Reliant Home Funding is a Long Island, New York-based mortgage lender available in more than 20 states, including Colorado, Florida, Illinois, New York, Pennsylvania and Texas. The lender focuses heavily on customer service, emphasizing relationships over transactions. You can complete the entire lending process remotely, preapprovals typically take less than 24 hours and closings currently average 14 days.
Emphasis on customer service
Fully online lending process
Not available in all states
Reliant Home Funding displays mortgage rates on its website and updates them regularly. Each quote includes the rate, APR and cost of points, so you’ll have a clear understanding of how much you’ll pay for a particular loan offer. The lender charges a $1,295 underwriting fee.
Reliant Home Funding has a large suite of loan products, including conventional and government-backed loans with both fixed and adjustable rates, along with construction and home renovation financing. It also offers reverse mortgages.
To be eligible for a conventional loan through Reliant, the lender requires at least 3 percent down and a minimum credit score of 620. FHA loan borrowers need a down payment of at least 3.5 percent, but can have a credit score as low as 580. To get an adjustable-rate mortgage (ARM), you must put down at least 5 percent and have a higher credit score (700-plus). VA loans have no standard credit or down payment requirement.
Reliant Home Funding is a family-run operation, established in 2010 and with $1.1 billion dollars funded since. It has an A+ rating from the Better Business Bureau (although it isn’t BBB-accredited).
With Reliant, you can get preapproved or prequalified online via the lender’s website, usually within 24 hours. If you want to move forward with the loan, you can complete the entire process online, as well, including signing required documents. Closings average about two weeks.
You can also use Reliant’s app, RHF Go, to compare loan options, calculate savings if you’re looking to refinance, submit documents, check your loan’s status and more. In addition, the lender’s website features a handy mortgage calculator, which you can use to learn more about how much yours might cost.
Images courtesy of Reliant Home Funding as of 2/26/2024. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.
You can apply for a mortgage with Reliant Home Funding online or by phone at 877-937-6787. Reliant’s team is available Monday through Friday from 9 a.m. to 6 p.m. ET. Here are some tips to prepare for the process:
Reliant Home Funding offers both rate-and-term and cash-out refinancing options. You can refinance completely online just like applying for a mortgage to purchase a home, but you won’t be able to view fees upfront through the lender’s website.
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
|
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
|
Rating: 3.9 stars out of 5
3.9
Bankrate Score
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
|
---|---|---|
Loans offered Conventional, FHA, VA, USDA, refinancing and more |
Loans offered Conventional, jumbo, FHA, VA, USDA, refinancing and more |
Loans offered Conventional, jumbo, FHA, VA, USDA, refinancing and more |
Min. credit score required 620 for conventional loans, 500 for FHA loans, 700 for adjustable-rate mortgages, 620 for renovation loans |
Min. credit score required Undisclosed |
Min. credit score required 620 for conventional loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans |
Down payment 3% for conventional loans; 3.5% for FHA loans; none for VA loans and USDA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans |
Nationwide availability Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington and Washington, D.C. |
Nationwide availability All U.S. states |
Nationwide availability Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C |
5.0
155 ratings
This lender has 0 recent reviews.
100% of customers would recommend this lender.