Real Genius Reviews

You can get started by visiting the Real Genius website and clicking on “Apply Now.” For both home purchase loans and refinances, be prepared to provide financial information, like asset values and debt balances. You’ll also enter income and employment information. It may be helpful to have certain documents handy as you complete the application (e.g., recent bank statements and pay stubs).

If you need assistance or have questions during the process, you can call, text or email the mortgage banker assigned to your account.

The Real Genius loan application portal lets you save your progress so you can pick up where you left off. After you submit your application, you can view your loan status. The company promises fast preapprovals, so you may receive a decision in as little as 15 minutes.

Real Genius application features

You can easily view the rates you may qualify for at Real Genius by visiting the company’s website and answering a few questions about your individual situation.

Keep in mind that the rate you receive is just an estimate. For a more accurate quote, you’ll need to apply for preapproval. The preapproval process takes into account additional data that would affect your rate, like your debt-to-income ratio.

Real Genius offers a variety of home loan options, including conventional (with fixed or adjustable rates), FHA and VA loans. The company also provides a jumbo loan option for borrowers looking to purchase homes in high-cost areas.

In addition, Real Genius offers a selection of specialty mortgages for less typical situations, like purchasing a vacation rental home or a second home. The company may also be able to help borrowers secure financing for other investment properties as well. Keep in mind that interest rates are generally higher for these types of mortgages compared with rates for a primary residence.

Real Genius also provides a selection of mortgage refinancing options to choose from based on your individual needs, including rate-and-term refinances and cash-out refinances.

Real Genius doesn’t disclose its borrower requirements. Most lenders have higher credit score requirements on conventional loans compared with government-backed mortgages (like FHA and VA loans). It’s likely you’ll need a credit score of at least 620 to qualify for a conventional loan, but check with the lender for its requirements.

Also, you generally need to offer at least a 3% down payment on conventional loans. FHA loans have slightly higher down payments — typically at least 3.5% if you have a 580 or higher credit score. Down payment requirements are higher, at 10%, if you have a score less than 580. VA loans offer 100% financing, so there are no down payment requirements.

National mortgage requirements by type

Real Genius does provide an estimate of origination fees when you use the rate calculator on its website. You’ll need to input some preliminary information, like home value and credit score, to receive a closing cost estimate.

Origination fees (often called lender fees) can include underwriting charges and application fees. Generally speaking, origination fees can total 0.5% to 1% of the loan amount and are included in closing costs. Altogether, closing costs can amount to 2% to 5% of the loan amount.

Other closing costs can include fees for certain services, like the home appraisal and title search. To better prepare you to pay closing costs, the lender will provide an estimate after you are preapproved. Also, about three days before closing, you’ll also receive the Closing Disclosure, which outlines all of the costs associated with the loan.

Available terms from Real Genius may include 10-, 15-, 20-, 25- and 30-year loans, depending on what you qualify for. Shorter loan terms typically come with higher monthly payments but lower total interest costs, while longer terms spread payments over a longer period and may reduce the monthly payment amount.

Like most lenders, Real Genius structures mortgage payments on a monthly schedule that includes principal and interest. Borrowers may be able to choose between fixed-rate loans, which keep the same interest rate for the life of the loan, and adjustable-rate mortgages, where the interest rate can change over time.

Yes, Real Genius (NMLS #2389303) is a legitimate lender that has funded over $16 billion in home loans. The company adds a personal touch to the digital application process by matching borrowers with local mortgage bankers in their state.