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Guaranteed Rate has gone from a startup to one of the top mortgage providers in the country in less than 20 years. But it sells your loan after closing, so the quality of customer service you receive will depend on which company acquires your mortgage.
Conventional: 620
Other mortgages: As low as 580, depending on type
Minimum credit score
3%
Minimum down payment (Conventional)
Available in all states
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, Refinance |
---|---|
Minimum credit score | Conventional: 620 Other mortgages: As low as 580, depending on type |
Minimum down payment (Conventional) | 3% |
State availability | Available in all states |
NMLS # | 2610 |
Guaranteed Rate is not currently available on Finder
Have you considered Rocket Mortgage?
Apply online for free and lock in your rate for 90 days.
If you’re looking for a top-rated lender that combines technology with human support, Guaranteed Rate might be a good choice. The company comes highly rated by past customers, who rave about the professional, helpful and “above and beyond” service from their loan officers.
The company also has a near-perfect rating on Zillow from thousands and thousands of customers, with relatively few complaints registered on the Better Business Bureau (BBB) website as compared to other lenders.
However, the company sells its loans after closing. While this may not be a big deal for some people, others may prefer to stick with the same lender for the life of their loan.
But if great service during the lending process and competitive rates are important to you, Guaranteed Rate may be worth checking out.
To find out if you meet the requirements for a Guaranteed Rate home loan, get preapproval online or speak with a loan officer directly.
Basic eligibility for a mortgage with Guaranteed Rate includes:
Here’s what you need to apply for a mortgage from Guaranteed Rate.
For employed persons:
For self-employed persons:
Guaranteed Rate has many of the same fees you’ll find with most mortgage companies. Expect to pay about 2% to 5% of your home’s total cost in fees and other closing costs, although lender credits up to $1,200 may be available.
Here’s how to get preapproved with Guaranteed Rate:
Guaranteed Rate also offers these specialized types of mortgages.
Guaranteed Rate is a highly-rated fintech lender that combines technology and human support for a smoother lending experience. But the company sells its loans after closing, making it hard to know the service levels you’ll receive afterwards.
While selling loans is a common practice in the mortgage industry, you may prefer to stay with the same lender after closing. If you fall into this category, Axos Bank, Mr. Cooper, Quicken Loans or Rocket Mortgage may be a better option.
Like Guaranteed Rate, these companies offer technology-based lending processes, but continue to service the majority of loans after closing. This means you can expect the same service levels throughout the life of your loan.
Regardless of which company you go with, comparing lenders and lender marketplaces is the best way to find the right match and best deal for your situation.
Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.
As of August 2022, Guaranteed Rate has a 4.96 out of 5 rating on Zillow from over 19,800 customers. Guaranteed Rate has been accredited by the Better Business Bureau (BBB) since 2009 and has an A business rating with 123 customer complaints closed in the last three years.
Customers who report positive experiences express being thrilled with their loan officers’ service and knowledge, as well as the interest rates they received. Complaints with the company revolve around the loan servicer not receiving forwarded payments and incorrectly applied payments.
While customer reviews are overwhelmingly positive, the company has an outstanding government action on the BBB site related to false claims to government mortgage loan programs.
Guaranteed Rate is a residential mortgage company founded in 2000 with headquarters in Chicago. Its original goal was to disrupt the mortgage market with innovation and focus. It works to deliver low rates and full fee transparency.
The company has grown to become the seventh-largest retail mortgage lender and has funded over $120 billion in home loans since its founding. Guaranteed Rate has bought a number of local mortgage companies around the country and now has more than 300 offices.
Guaranteed Rate is not currently available on Finder
Have you considered Rocket Mortgage?
Apply online for free and lock in your rate for 90 days.