Disclosures

Purchase Disclosures

Loan Assumptions for Purchase Transactions
Mortgage rates are updated daily. However, mortgage rates can change several times a day based on volatility in the financial markets. Please make sure you have the latest rate quote by calling us at 888-973-5346. We are unable to lock a rate till we have received a complete loan application, including all requested documents and information, a fully ratified purchase contract and, signed lending disclosures from the applying borrower(s). Our rate lock desk closes at 5 pm PST. If your completed loan application package is not received by 5 pm PST, mortgage rates will be subject to the following business day pricing. Rate locks are for 30-days.

On Conforming Loan Amounts up to $647,200
15 & 30 Year Fixed – First Mortgage Loan

These mortgage rates reflect conforming loans and are only available for properties located in California. Disclosed rate assumes a rate and term purchase of an owner-occupied single-family residence in California with loan amounts ranging from $400,000 to $647,200. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate financing. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance, or assessments. Sample APR does not include any origination or discount points. Sample APR includes only an underwriting fee of $1095. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. Subject to underwriting approval.

On High-Balance Loan Amounts between $647,200 and $970,800 (Check County Specific Loan Limits)
15 & 30 Year Fixed – First Mortgage Loan

These mortgage rates reflect high-balance conforming loans and are only available for properties located in California. Disclosed rate assumes a rate and term refinance of an owner-occupied single-family residence in California of a loan amount from $647,200 to the maximum conforming loan limit amount in the property’s county. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate financing. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance, or assessments. Sample APR does not include any origination or discount points. Sample APR includes only an underwriting fee of $1095. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. Subject to underwriting approval.

On Non-Conforming Loan Amounts between $970,800 and $2,000,000
15 & 30 Year Fixed – First Mortgage Loan
These mortgage rates reflect non-conforming loans and are only available for properties located in California. Disclosed rate assumes a rate and term refinance of an owner-occupied single-family residence in California of a loan amount of $1,000,000. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate financing. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance or assessments. Sample APR does not include any origination or discount points. Sample APR includes only an underwriting fee of $1095. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. Subject to underwriting approval.

Reliance Financial is not brokering any loans that are less than $100,000.

Refinance Disclosures

Loan Assumptions for Refinance Transactions

Mortgage rates are updated daily. However, mortgage rates can change several times a day based on volatility in the financial markets. Please make sure you have the latest mortgage rate quote by calling us at 888-973-5346. We are unable to lock a rate till we have received a complete loan application including all requested documents and information from the applying borrower(s). Our rate lock desk closes at 5 pm PST. If your completed loan application package is not received by 5 pm PST, mortgage rates will be subject to the following business day pricing. Rate locks are for 30-days.

On Conforming Loan Amounts up to $647,200
15 & 30 Year Fixed – First Mortgage Loan

These mortgage rates reflect conforming loans and are only available for properties located in California. Disclosed rate assumes a rate and term refinance of an owner-occupied single-family residence in California of loan amounts ranging from $400,000 to $647,200. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate debt and/or solar liens. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance, or assessments. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. By refinancing the existing loan, the total finance charges may be higher over the life of the loan. Subject to underwriting approval.

On no-closing cost loans, Reliance Financial will pay non-recurring closing costs which DO not include prepaid interest. property or transfer taxes, hazard or flood insurance, mortgage insurance, assessments or homeowners association fees, and current lender loan payoff fees. See below for a list of the non-recurring fees.

On High-Balance Conforming Loan Amounts between $647,200 and $970,800 (Check County Specific Loan Limits)
15 & 30 Year Fixed – First Mortgage Loan

These mortgage rates reflect high-balance conforming loans and are only available for properties located in California. Disclosed rate assumes a rate and term refinance of an owner-occupied single-family residence in California of a loan amount from $647,200 to the maximum conforming loan limit amount in the property’s county. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate debt and/or solar liens. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance or assessments. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. By refinancing the existing loan, the total finance charges may be higher over the life of the loan. Subject to underwriting approval.

On no-closing cost loans, Reliance Financial will pay non-recurring closing costs which DO NOT include prepaid interest, property or transfer taxes, hazard or flood insurance, mortgage insurance, assessments or homeowners association fees, and current lender loan payoff fees. See below for a list of the non-recurring fees.
 

On Non-Conforming Loan Amounts between $970,800 and $2,000,000
15 & 30 Year Fixed – First Mortgage Loan

These mortgage rates reflect non-confirming loans and are only available for properties located in California. Disclosed rate assumes a rate and term refinance of an owner-occupied single-family residence in California of a loan amount of $1,000,000. Further, minimum 760 FICO score is required, and 60% loan to value with no subordinate debt and/or solar liens. If these factors are not met, you may still qualify for a loan but higher interest rates and closing costs may apply. Sample rates DO NOT include payments for taxes, insurance or assessments. Your actual payment obligation may be higher. Not all applicants will be approved. Advertised rate and APR are subject to change without notice. By refinancing the existing loan, the total finance charges may be higher over the life of the loan. Subject to underwriting approval.

On no-closing cost loans, Reliance Financial will pay non-recurring closing costs which DO not include prepaid interest. property or transfer taxes, hazard or flood insurance, mortgage insurance, assessments or homeowners association fees, and current lender loan payoff fees.

On no-closing costs loans, Reliance Financial will pay the following ‘non-recurring’ third-party closing costs on behalf of the Borrower as follows:

  • Underwriting fee
  • Appraisal fees
  • Credit report fees
  • Flood certification fees,
  • Escrow fees
  • Notary fees
  • Title insurance fees (lenders policy and endorsements)
  • Recording fees

 

Borrower(s) is/(are) responsible for paying ‘recurring’ closing costs which may include:

  • Prepaid interest
  • Property taxes
  • State and county transfer taxes
  • All types of insurances
  • Homeowner’s association dues
  • Existing lender payoff fees
  • Survey fees
  • Inspection fees

 

Reliance Financial is not brokering any loans that are less than $100,000.