How do Guaranteed Rate and Quicken Loans compare?
- Consider this lender if you want great customer service.
- Choose another lender if you want the same servicer after closing.
- Consider this lender if you’re after a quick closing.
- Choose another lender if you want a HELOC.
Neither of these seems the right fit?
- Competitive rates
- Positive online reviews
- Online prequalification
- Mobile app
- Large jumbo loans available
- Flexible repayments
- Online loan support
- Fast turnaround
- Slow in-person service
- Need good credit
- Application deposit
- Two-step process
- Hard credit pulls
Reviews on its site state that most of its customers recommend Guaranteed Rate to their friends or family. And its online reviews are mostly positive, with customers saying the site is easy to use and its agents and customer service staff were helpful. Many say they received a better than expected rate and lower fees than they were quoted elsewhere.
It has 4.5 out of 5 stars with the Better Business Bureau. Negative reviews tend to focus on customer service experiences with individual agents.
Quicken Loans is accredited with the Better Business Bureau (BBB) and as of November 2020 has 3.67 stars out of 5 based on 1,930 customer reviews. On Trustpilot, the lender has 4.4 out of 5 stars with 16,814 customer reviews. Most reviews praise the attentive, personalized service they receive from its mortgage officers. Even when dealing with multiple representatives, borrowers report a keen attention to detail. Borrowers liked using Quicken Loan’s MyQL to track the progress of their loan.
However, some complaints point to hard credit inquiries without authorization during the application process. There are also reports that loan advisors were aggressive when trying to close the loan.
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