Refinance Disclosures

Loan Assumptions for Refinance Transactions

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

On Loan Amounts up to $647,200

15 & 30 Year Fixed – First Mortgage Loan

These rates 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. Minimum 760 FICO score, 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.  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 or lender payoff fees.  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 Loan Amounts between $647,200 and $970,800

15 & 30 Year Fixed – First Mortgage Loan

These rates 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 $600,000 to the maximum conforming loan limit amount in the property’s county. Minimum 760 FICO score, 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. 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 or lender payoff fees.  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 Loan Amounts between $970,800 and up to $2,000,000

15 & 30 Year Fixed – First Mortgage Loan

These rates 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. Minimum 760 FICO score, 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.  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 or lender payoff fees.  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 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 responsible for paying ‘recurring’ closing costs which may include:

prepaid interest
property taxes
state and county transfer taxes
all types of insurance
existing lender payoff fees
survey fees
inspection fees
discount points

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