Reliance First Capital Mortgage Review

About Reliance First Capital, LLC

Reliance First Capital, LLC

Reliance First Capital was founded with the purpose of helping both existing and prospective homeowners receive the right mortgage. We achieve our goal by developing customized mortgage programs that match each client's specific needs and situation. So whether you’re looking to buy a home or looking to refinance your current mortgage, whether you have perfect credit or are struggling with payments, our dedicated and knowledgeable staff will design a custom-tailored mortgage that helps you achieve your financial goals. At Reliance First Capital, we welcome the opportunity to put our years of industry experience to work for you. As a direct lender, we have the resources to deliver the right programs, fast approvals, speedy closings and, most importantly, deliver your money. You can RELY on Reliance First Capital.

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What is Reliance First Capital?

Reliance First Capital was founded in 2008. The company is a direct lender headquartered in Melville, N.Y.; and, according to a company representative, it has closed almost $7 billion in mortgages since its founding. Reliance is an approved FHA, VA and Fannie Mae and Freddie Mac lender. Reliance offers an informative website and a wide range of mortgage and refinancing options, including specialty products to assist borrowers who have low credit scores or non-traditional work histories, including self-employment.

Working with Reliance First Capital

Reliance First Capital is licensed to do business in:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Connecticut
  • Delaware
  • Florida
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Vermont
  • Virginia
  • Washington
  • Wyoming

In addition to Reliance First Capital’s Melville headquarters, the lender has origination centers in Cleveland; Nashville, Tenn.; Pittsburgh; Dallas and Charlotte, N.C. Each origination center (and its headquarters) has loan officers available to assist you with the loan process.

Reliance First Capital works with a wide range of borrowers. Borrowers with credit scores as low as 500 may be able to find a product that meets their needs. Reliance First Capital also does manual underwriting to ensure borrowers with unique histories can still be considered for mortgage and refinancing products.

Reliance First Capital lends for most residential property types, including:

  • Single-family homes
  • Multi-family homes
  • Manufactured homes
  • Condominiums

The company does not lend for co-ops.

Reliance First Capital products

Reliance offers a wide range of products designed to meet the needs of different borrowers. Here are the company’s products for purchasing a home, refinancing a home or taking advantage of the equity in your home.



Home equity

Reliance First Capital special mortgage programs

Reliance also offers special mortgage programs:

  • Reliance Advantage Program (RAP) — This is a bank-statement-only program, which means Reliance looks at your bank statements to determine your income, and there is no requirement for W2s. This makes it easier for borrowers who are self-employed to obtain a mortgage. The program offers purchase mortgages and refinances, and it is available for single-family homes, multi-unit properties with up to four units, investment properties and second homes.
  • Debt consolidation program — This is a special refinancing program designed to lower the interest rates on your debt, allowing you to get out of debt more quickly.

The mortgage application process

Reliance First Capital offers a digital application process, although it will work with borrowers who prefer paper, too.

How to apply. You can start an application via the Reliance website. From there, you can complete the application digitally using the web portal, where you can upload documents digitally. If you prefer paper, though, that’s fine, too. The loan rate is typically locked in when you submit an “intent to proceed” with your application.

Disclosure process. You can review disclosure documents through Reliance First Capital’s secure web portal or on paper, depending on your personal preference.

Submitting loan for approval. Reliance First Capital will provide you with a checklist of the documents you need to upload. Once you have submitted all your required loan documents, the loan is submitted to underwriting for approval. This is typically done within hours of submitting the paperwork. If an appraisal is required, Reliance First Capital will contact an appraisal company, which will then get in contact with you and schedule the appraisal and collect the appraisal fee.

Final approval. After it receives the appraisal, Reliance First Capital will work with you to secure any other documentation requested by the underwriters, at which point your loan will be submitted for final approval.

Closing. Reliance First Capital will work with you to determine a time and place for closing that works for you and your schedule.

Communication during the process

Reliance assigns you a licensed mortgage analyst, who is your main point of contact throughout the mortgage process. You will also have an assigned loan processor, who will stay with you throughout the application process. They will communicate with you through the web portal or via email or phone, depending on your personal preference.

Pros and cons of a Reliance First Capital mortgage


  • Helpful borrower tools. For example, Reliance offers a video that clearly explains its loan application process and a glossary of common mortgage terms.
  • Special programs. Reliance offers programs for borrowers who have had financial difficulties or have a unique employment background.
  • Robust portfolio. It offers a wide range of products that can help borrows meet several financial goals, including debt consolidation, buying a fixer-upper or purchasing a second home.
  • Property types. Reliance First Capital will lend for manufactured homes and multi-unit properties, along with traditional single-family homes.
  • Dedicated point of contact throughout the process. You have one person to contact if you have any questions or issues, regardless of where you are in the application process.
  • Low down payment options. Reliance offers low- and no-down-payment loan options, which can be helpful for first-time homebuyers.


  • Relatively few local options. If you prefer face-to-face interactions, you would need to visit one of the origination centers, which are located in only six of the 34 states where Reliance lends.
  • Website lacks some detailed information. For example, the website doesn’t discuss details about its conventional, fixed-rate mortgage programs.
  • Does not offer home equity products. Reliance First Capital does not offer home equity lines of credit or home equity loans at this time.

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.