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Guaranteed Rate vs. Rocket Mortgage

Guaranteed Rate has more loan options and overwhelmingly positive reviews, but Rocket Mortgage has lower advertised rates.

Guaranteed Rate has a wide range of loans and great customer reviews. However, you might get a better interest rate with Rocket Mortgage, depending on the type of loan and your credit score.

Our verdict: Rocket Mortgage wins for lower advertised rates

Guaranteed Rate and Rocket Mortgage are popular lenders with a good track record of customer satisfaction. But if you’re after the low rates, Rocket Mortgage comes out slightly ahead of its competitor.

But it was a tough decision. Guaranteed Rate consistently receives high marks from past customers, and borrowers can generally expect great service during the loan process. And you may be able to negotiate lower fees through your loan officer, especially if you have good credit.

But Rocket Mortgage appears to offer more competitive rates overall, which means you may be able to save money. The company also services its loans, except for jumbo loans, so Rocket Mortgage will continue to work with you after your loan closes.

As always, it’s a good idea to compare multiple lenders to see what kind of rates you prequalify for. Getting multiple quotes will help ensure you’re getting the best deal possible, regardless of what rates are advertised on a lender’s website.

Overview: Guaranteed Rate vs. Rocket Mortgage

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Get rates See rates
Name Guaranteed Rate
(NMLS #2610)
Rocket Mortgage
(NMLS #3030)
At a quick glance
  • Consider this lender if you want great customer service.
  • Choose another lender if you want the same servicer after closing.
  • Consider this lender for its competitive rates.
  • Choose another lender if you need a home equity loan or HELOC.
Loan products offered Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance Conventional, Jumbo, FHA, VA, Refinance
State availability Available in all states Available in all states
Min. credit score 620 620
BBB Rating A- A+
Trustpilot Rating Poor Great
Pros
  • Competitive rates
  • Positive online reviews
  • Online prequalification
  • Mobile app
  • Fast service
  • More flexibility
  • Prepayment is OK
Cons
  • Slow in-person service
  • Need good credit
  • Application fee
  • Some loans aren’t available
  • No physical locations
More info Read Review Read Review

Guaranteed Rate customer reviews

When it comes to great customer reviews, it’s hard to beat Guaranteed Rate. The company has some of the highest ratings of any lender we’ve reviewed. On Zillow, the company gets a stellar 4.96 out of 5 stars from 18,445 customers as of December 2021.

Customers overwhelmingly praise their loan officers for providing outstanding and professional service, being responsive and effectively answering questions. Many describe the process as “easy” and “uncomplicated.” Others describe loan officers as “incredibly helpful.”

While less common, unsatisfied customers have mentioned problems with payments not being forwarded to the new loan servicer and payments not being correctly applied after loans were sold.

Rocket Mortgage customer reviews

Rocket Mortgage, previously known as Quicken Loans, also gets pretty high marks from customers. As of December 2021, the company earns a 4.48 out of a 5-star rating on Zillow from over 7,880 reviewers.

Satisfied customers mention helpful, attentive and personalized service from loan officers, along with lower-than-expected interest rates and fees. Borrowers also liked Quicken Loan’s MyQL to track their loan’s progress.

However, some customers were surprised about unauthorized credit inquiries, and others say that loan advisors were pushy when trying to close a loan. While Rocket Mortgage appears to offer good service, it has fairly numerous complaints on the Better Business Bureau website.

Compare your mortgage options

We think Guaranteed Rate and Rocket Mortgage could be a good choice for many borrowers. However, if you’re tech-savvy and prefer a fully digital mortgage that doesn’t charge any origination fees, consider Beeline or Better.

Or, if you’re looking for a specialized loan that’s harder to find, we suggest Draper & Kramer Mortgage or North American Savings Bank. Both these lenders offer a wide range of loan products for borrowers with a range of credit scores and circumstances.

Find your perfect mortgage by comparing these lenders and lender marketplaces. Select See rates to get a personalized quote.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
AmeriSave
(NMLS #1168)
AmeriSave
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
620
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
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