Mortgage Questions, Answered
Find answers to common questions about mortgages, our services, and the homebuying process. Can't find what you're looking for? Contact us.
28 questions answered
About Ralo
Ralo is a modern mortgage broker built on automation. We file with multiple lenders, read every quote for hidden fees, and hold them to their best price — the work a traditional broker does by hand and charges a fat fee for. Because software does the heavy lifting, we run on a fraction of the standard commission, which helps keep your rate lower. A licensed human is with you the whole way.
Mortgage pricing is opaque, and lenders can shift costs between rate and fees. We line up offers side by side, call out unnecessary fees, and negotiate on your behalf. Ralo believes it delivers the best pricing in the U.S., and we show it with transparent, line-item quotes.
Yes. Pricing varies by lender and by day, and the first quote is not always the full picture. Shopping and negotiation can change both rates and fees, which is why side-by-side comparisons matter.
Timelines vary by lender, property, and how quickly documents are provided. We keep the process organized and keep everyone aligned, but the closing date ultimately depends on the full team involved.
Ralo makes money through lender-paid compensation — a fraction of the industry average — that the lender pays us after closing.
We support common loan types like conventional, jumbo, ARM, and refinancing options. If you have a specific scenario, ask us and we will confirm eligibility.
Ralo is licensed as a mortgage broker in Texas and is expanding to additional states. Check our licensing page for the most current coverage. NMLS: 2751459.
We are a broker, not a bank. That means we can compare multiple lenders, negotiate pricing, and show you trade-offs side by side. Our goal is transparency and clarity, not a sales pitch.
You get both. Our technology handles paperwork and comparisons, and a licensed expert is available for questions and decisions that need a human view.
Yes. Share the quote and we will compare it against other offers. If your current offer is already the strongest fit, we will tell you.
We will try to improve it and show the comparison clearly. If someone else already has the strongest offer for your goals, we will be upfront about that.
We partner with reputable lenders that compete for your business. We monitor pricing and service quality to keep the network honest.
We only share what is needed to compare offers, and only after you authorize it. Your contact details are not shared until you choose a lender to move forward with.
No. We do not sell your personal information to third parties.
Loan Types
Conventional loans can be a good fit if you have steady income, solid credit, and some cash to close. They are widely available and mortgage insurance can often be removed once you build enough equity.
A jumbo loan is larger than the conforming limit set each year by FHFA. They are used for higher-priced homes and typically require stronger credit, more documentation, and more cash to close.
Learn more about specific loan types:
Rates & Pricing
We compare offers from multiple lenders and show the full breakdown of rate, points, and fees. That makes it easier to see the real cost, not just the headline rate.
We show the Loan Estimate and line-item costs for each offer so you can verify directly with the lender. If anything looks unclear, we walk you through it.
We are a broker, but we use technology to compare offers quickly and transparently. One application, multiple lenders, and clear line-item pricing without lead selling.
You can still use Ralo to compare. Share your current offer and we will see if there are better options or lower fees available.
We use industry-standard security practices and only share your information with lenders you authorize. We do not sell your personal data.
Key factors include your credit profile, down payment, loan type, loan term, property type, and current market conditions. Shopping multiple lenders can also improve your pricing.
Rate locks protect you from rate increases while your loan is processed. Lock when you have an accepted offer and are comfortable with the terms. Some lenders offer float-down options if rates drop.
Paying points is an upfront fee to lower your rate. It can make sense if you plan to keep the loan long enough to earn the savings back.
The Mortgage Process
Pre-qualification is a quick estimate based on self-reported information. Pre-approval is a verified conditional commitment after the lender checks your credit, income, and assets. Pre-approval is much stronger when making offers on homes.
Timelines vary by lender, property, and how quickly documents are provided. Pre-approval can be quick, but closing often takes several weeks once you are under contract.
You will typically need recent pay stubs, W-2s or tax returns, bank statements, ID, and employment verification. Self-employed borrowers often need additional documentation.
Closing costs are fees paid when finalizing your mortgage, such as origination or processing fees, appraisal, title insurance, prepaid taxes and insurance, and government recording fees. They are separate from your down payment.
Still Have Questions?
Our team is here to help. Get personalized answers and see what rates you qualify for.