Guaranteed Rate Mortgage
Concord, NCConsumerAffairs Unaccredited Brand
Guaranteed Rate is one of the largest retail mortgage lenders in the United States. Headquartered in Chicago, the company has approximately 210 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded nearly $19 billion in loans in 2017 alone. The company has become the Home Purchase Experts® by introducing the world's first Digital Mortgage technology and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service.
Keep an eye on your inbox, the lastest consumer news is on it's way!
I had the best experience getting my first mortgage ever at Guaranteed Rate and everyone I dealt with is so helpful and professional!! They always answered all of my questions (and I had many) promptly and explained everything with great detail. I will definitely refer anyone that is looking to get a mortgage or refinance.
Great mortgage officer - his team worked seamlessly together to get us approved for our loan 3 weeks early allowing us to focus on other parts of the home buying process. Joel was available whenever I had a question to clarify the process and numbers.
Robert and Catherine ** have helped my husband and I close on two homes now. They are extremely diligent and thorough with their work. They go above and beyond in doing everything possible to make the closing process go smoothly.
Just days before closing the loan officer quit his job and the next officer somehow applied a lower credit score increasing my interest rates and explained that they had no fault as to why this was happening. As a first time buyer they had no care or compassion for me or my family. I would not likely to recommend this company to anyone.
Hi David,We apologize for the experience you had with us! We would appreciate the opportunity to look into this situation further! Please give our Customer Success department a call at your earliest convenience at:773-328-6467.
Customer Success Ambassador
First off, I just want to say that I fully regret going with Guaranteed Rate. If I knew then what I knew by the end of this process I would have 100% gone with someone else. Everyone was so willing to help to get me on board with their company. Crunching numbers and making everything sound so good and so simple. But then once they had me on board, I rarely talked to my loan agent, even after repeated calls and messages. There were other workers in the office that he had communicate with me and it was obvious that Dave did not communicate the same information with them as he did with me which raised a lot of red flags and questions for me. The process took way longer than it should have.
This was not my first time buying a house and getting a loan. The experience with Guaranteed Rate took more than months whereas my first experience with a different lender was a piece of cake and basically done in a couple days. When I would ask about closing, I kept being told "oh maybe just another week or two or maybe a few more days". After this went on for weeks and weeks, I was then told by Dave that they were missing a document or piece of paper by someone else but not by me. He said it was something to do with the developer, but was very vague and would not get me give me specifics on what was going on. I was so frustrated I was ready to pull out even a week before the closing date came.
All the unanswered questions and calls to him and his office staff that took days to get an answer and then it was very vague or they didn't know it would have to get back to me but they wouldn't so I would have to call back. This company is a major headache, poor communication and poor customer service and I also feel being dishonest during the process. I would never ever ever use Guaranteed Rate again and anybody that I know I've also told, "Don't waste your time!" I encourage everybody I know to stay away from Guaranteed Rate and go with a smaller lender or bank where you actually get personal service.
I am very frustrated even though this was a year-and-a-half ago already and it still makes me very angry even when I just hear the name Guaranteed Rate. One of the biggest regrets in my life. Building a condo should have been a fun and exciting time in my life but Guaranteed Rate stressed me out so much that it was not an enjoyable experience and I was ready to back out of the whole deal, even building, because of Guaranteed Rate.
Thank you for taking the time to leave a review. We apologize that the experience you had with us when your loan closed was not what you hoped it would be. The feedback you've provided will continue to help our company improve.
-Customer Success Department
- 1,117,053 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I worked with Guaranteed Rate to purchase a home. The experience was great until a little challenge just before closing. There were some minor repairs that needed to happen for the deal to close. The seller was advised to put the money in escrow (which they did). When we arrived at closing there was an oversight of for additional closing fees which required me to bring an additional $2000 to closing. The Loan Officer was kind and even stated that they would reimburse a portion of the money. I was excited to be purchasing a home and operated out of trust. Fast forward, even though the money was put into escrow and repairs were not expected to happen until Spring 2018, the Loan Officer begin calling my phone three weeks after closing which was mid February. He stated that the repairs needed to happen ASAP. I wondered what the rush was but wanted to make sure I was being compliant.
He shared that if I had the repairs done, they would reimburse me the money. I had the repairs done and paid out of pocket thinking I was going to get my money back. Well, I was dead wrong. I realized that Guaranteed Rate pushed to have the repairs done so they could sell my mortgage, as they do with all their loans. Once the repairs were made, I never heard from the Loan Officer again or received my money back. Not sure what happened to the escrow money. I called, sent emails and event text messages with no return call. He never followed up about the additional money I had to bring to closing.
By the way, I also used a Realtor he recommended and no response from him either. I am happy with my new home but feel like I was manipulated by the loan officer. I felt like I was taken advantage of. I will not refer or use Guaranteed Rate again. They are great sales people who just want to close a deal and will tell you anything to get the deal closed!!!
I don't even know where to start. In the very beginning, David seemed like a nice guy, gave us good numbers then towards the middle of the process it was harder and harder to get a hold of him. About 2 weeks before we had to close he said that we’re APPROVED. “Wow, great news.” Then he said we’ll be hearing from his loan officer Colleen who will be our point of contact until we close. This has got the be the start of my WORST NIGHTMARE. Throughout the rest of the process, I had contacted her about 10x and she's only replied to me about 2x. It even got to the point where I emailed her a picture of the things I've already sent her because 3 days later she would reply and say they need us to send the same paperworks that they asked for. And in my emails, I even told her “I know you don't reply to your clients, but I thought I'd ask if there was anything else you need”... NO REPLY.
The day that we’re supposed to close 04/12/18 (Thursday) we still have not heard ANYTHING. David did not contact my realtor, the seller or I. Until we called about 3x, he finally answered and asked my realtor for an extension until 04/16/2018 (Monday). Good thing my realtor was smart enough to extend it until 04/19/2018 (Thursday). So we are one week out of contract already and David/Colleen does not contact us until FRIDAY, to say that we did not get appoved, mind you this is WAY after our original closing date. Now our EMD 5000$ is in trouble, and we may not get back because David, went way out of our contract date and the seller could very well keep it.
The reason for our loan denial was they stated was because I had a “job gap” in 2016 but I went to school in Aug-Dec and got a diploma for it. He wrote us an email that the first underwriter who looked at our loan application SHOULD NOT have approved our loan to begin with. So now we WASTED 2 months and our EMD is on the line. And now we have to pay the sellers FEES for the home because we are now beyond late. We are going to a different lender and he is trying to save the deal for us, which he’ll be able to close for us in about 10 business days.
LAST THING, David did not even try to do anything to try and save this. I had to be the one contacting other lenders to try and see if there is something they can do. So if you guys are interested in going with this lender, PLEASE do your research. Being a first time home buyer was already stressful enough, but if you want a lender who does NOT communicate well or at all with you, which makes thing 100x worst than it's supposed to be, definitely go with David ** and his team.
Thank you for taking the time to leave a review. We apologize for the experience you had with us. The feedback you've provided will continue to help us improve our procedures.-Cassandra W.
Customer Success Ambassador
My credit is perfect. Score is over 800. I earn 7 figures per year on a W2. My down payment was 40%. You would have thought I never paid a loan back with the back and forth with the loan processor. I spoke to the loan officer a few times. His rate was pretty competitive and he was a good salesman which is why I went with this company. The problem was I couldn't deal with the never ending emails and texts from them. We need this. We need that. What is this $5000 deposit from? What is that deposit from? I pulled the plug three weeks from closing and went with a local mortgage broker. His rate was a hair higher but I didn't have to deal with the nonsense. Don't fall for the rate... It's not worth it.
Thank you for taking the time to leave a review. We apologize for the experience you had with us.The feedback you've provided will only continue to help make our company better.-Cassandra W.
Customer Success Ambassador
This company is a huge fraud. They are charging for unlicensed professionals to evaluate homes and process home loans. I sought out to obtain a refinance loan for my home and assured that it would be no problem. The company charged me $450 up front for an appraisal fee. The appraisal was done by an unlicensed intern who showed up to my home claiming to be the licensed appraiser. The appraisal did not result in anything favorable which resulted in the loan not being able to be processed. My neighbors, with the same house as ours, had an appraisal done by a reputable company and was able to get the results they needed to refinance their home.
The "appraiser" was supposed to be contacted to reduce the services, but we were told there is nothing they can do. We were offered a HUD loan with $13,000 in closing costs as an alternative, pushing my loan to above and beyond what is able to be borrowed as well as an additional appraisal fee to be charged by the same fake "appraiser" that may or may not provide any real results. So as a result I am out $450 for a loan that could not be processed and no options. After numerous conversations with managers, customer service and senior management the company said they are sorry but better luck next time. We were scammed out of $450 in services that resulted in nothing. I am currently in the process of reporting this to the attorney general and the 3rd party credit card company that the payment was processed with.
Thank you for taking the time to leave a review.
This company is run by idiots. Don't waste your time, go somewhere else. Closing pushed back another week for the third time because they are missing a signature, even though they have been working on this loan for a 2 months. Morons.
Thank you for taking the time to provide your feedback. We apologize for the experience you had with us. We, in the Customer Success Department, are available for you to speak with should you wish to address this situation further. You can reach our department at: 773-328-6467.-Cassandra W.
Customer Success Ambassador
Agreed to use this company for purchasing a second condo. Initially everything was fine. Then kept getting more and more questions. After all had been satisfied, one week before closing, I received ridiculous requests including letters from my CPA. Uncalled for. Eventually backed out of the deal.
Thank you for taking the time to provide your feedback. We apologize that your experience was not what you hoped it would be. If you would like to discuss the situation further, please give our Customer Success Department a call at: 773-328-6467.-Cassandra W.
Customer Success Ambassador
I inquired online about Mortgages. I applied with a National place that sent my information out to different vendors. They all called, I talked with some of them and found the best rate and secured a home. Once I agreed to a deal with a mortgage lender I politely asked the companies to stop calling, they all did except for this one. They called me up to 10 times a day. I told them I wasn't interested, I asked them to put me a do not call list. They just continued to call.
Today I spoke to a rude person named Ruben, I asked him to stop calling and he just kept going with his sales pitch. I told him I would NEVER do business with a company that won't comply with my request to stop calling, he kept going with his sales pitch. I said take me off your list and never call me again and he said NO and kept going with his sales pitch. There's hundreds of Mortgage lenders out there, DO NOT GIVE YOUR INFO TO THIS ONE unless you enjoy rude people calling you ten times a day!
We were suppose to close and then day before it got pushed back a few days. Never go through them again. Process has been over 45 days and still do not have a closing and the monthly costs went up right before closing.
Getting a mortgage from Guaranteed Rate was a nightmare. I was asked to provide information redundantly. There were many last minute requirements which could have been taken care of weeks earlier. They caused my closing date to be delayed, causing headache to all parties involved. It got to the point that every time I got any new email, I felt utter dread, as in, "Oh no, what is the problem now?" The person in charge at the end would not answer her phone. I called a total of 19 times and she never answered her phone. The process was truly horrible.
Wow. Guaranteed rate. Let out my personal information to who knows who and now all they offer is a credit repair in the event something was to happen to my credit within the 2 yrs. If you're looking for a mortgage company keep looking and don't use this one. They spend more money ($20 million) on a sign at the ballpark than they do protecting your personal information.
Rate lock was for 45 days but they did not close in time, and they wanted us to pay thousands more in closing cost because they didn’t close in time. We worked with Cameron ** and Dana ** and were very dissatisfied with their performance.
I spoke to a rep who had great communication with me when I began my application. Followed up with calls, Emailed promptly and once I gave my credit card for deposit, they said the loan might not be able to be processed. The rep (Steve **) was so nice when he was trying to have all my information but when I was trying to get my deposit back for the appraisal, it was so hard to reach him. I have called, Emailed and nothing. I am still waiting for them to get back to me but I do not recommend. A friend of mine also looked at the numbers and they have hidden costs and time frames to not honor the rates. BE VERY CAREFUL.
The only reason GRM didn't get a single star was because at the end of it all, we actually did close on our new home. We had ZERO problems in the beginning and adored working with both Brent and Kate - I wish we had only worked with them. Perhaps then we wouldn't have had to go through all the worry and stress we did once our file left their very capable hands.
Things went downhill once the process landed in the hands of a woman named Christy. She was unresponsive to voicemail messages and barely responsive to multiple emails - all of this due to our needing to understand exactly what it was she asked us to send and then waiting to find out if what we did send was in fact, correct. We were responsive immediately to all her requests for information - I actually missed almost 2 quarters of a basketball game we were attending so we could read and sign things she sent us from the bleachers. It was coming down to the wire time-wise and we were beginning to really worry if we'd close, let alone get confirmation that everything was in order. When Christy FINALLY sent everything to the underwriter things didn't improve.
The day we were supposed to close at 11am we get a call after noon asking for ANOTHER document never requested prior. We bought in a state 600 miles from our current home and were already in that state to close so it was a miracle we actually had this document with us. Had we not checked the mail the morning we left, we wouldn't have had what they asked for. The requests for things we had already provided (some multiple times) was another frustration. Our closing was supposed to occur at 11am. We made it to the table around 3:30 in the afternoon after changing the time twice because the closing attorney was STILL waiting on the documents from GRM necessary to begin.
The amount of stress we went through wondering if we would close at all, let alone on the day we had planned for was emotionally exhausting. The lack of response from Christy was unacceptable. The multiple requests for the same documents was unacceptable. The request for a document AFTER our scheduled closing time was unacceptable. The necessary documents being sent to the closing attorney WELL AFTER our scheduled closing time was MORE THAN UNACCEPTABLE.
Going through the mortgage process is never fun but this was by far the WORST mortgage experience I have ever endured having bought 2 homes prior to this one. As I stated at the beginning of this review, at least we did close and now we have our home. This isn't the last property we are going to purchase but it IS the last one that will have anything to do with Guaranteed Rate Mortgage.
Guaranteed Rate has treated me like I am a criminal, or someone who steals money from old people. Apparently if you don't put all your money in a bank they think any cash deposit to pay for your down payment comes from illegal activity! This was stated by one their reps! Not only did they ask for your balance in the 401k but also the investment statement as well. And if you have a joint account do yourself a favor. Take your name off of it prior to buying the house!!! Even though the house is only in my name they made me disclose all the joint account holder information as well even their 401k! And they have nothing to do with the house! They also told me that there is no way in the 20 years I've been working could I have saved 4000 in cash and not put it in the bank!
Guaranteed Rate has been nothing but offensive during what should be the happiest time in one's life to the worst experience ever! And they discriminate against single women as their rep stated that more is required from single females than married females. Apparently we still live in the caveman era where women don't account for any contributions to society. And when you tell the lender, "Forget it. I'll switch to someone else" they hound you to just give up all your personal information as well as others that have absolutely have nothing to do with the house. If you don't put the money for the house (down payment and closing costs) and don't withdrawal not 1 penny for 60 days. Otherwise you will have to explain every withdrawal every deposit that you have made for the past 60 days!!! So if you're like most working class citizen and don't believe in putting all your money in the bank then PLEASE DO NOT GO THROUGH GUARANTEED RATE!!!
And to top it off they don't tell you the requirements up front. Oh no. They wait until the week before closing and threaten to push the closing date further out! Apparently we can take whatever day off they tell us we need too. This company DOES NOT LOOK OUT FOR THE CUSTOMER! Even with a FHA loan you know the one that is backed by the government meaning they would still get their money make it harder than giving birth!!! All of this is because of lenders who ripped consumers off during the time buying a home was at an all time high and because of their backdoor antics made the housing market crash thus leaving us to be treating us like a felony or criminal!!! It's because of their greed that the consumer now pays for their stupidity!!! And yes once again the working class citizens are the ones it hurts the most! I ended up canceling with them 2 days before closing! So all that work the lender did for the last month was for nothing!!!
Nor did they get paid for all that work!!! PLEASE PLEASE PLEASE DO NOT USE GUARANTEED RATE!!! There are sooo many other lending companies that will give you the best interest rate and won't treat you like you are a low life!!! If you still choose to use them be prepared to spend hours running around and you have to literally with an explanation letter for credit inquires, where the money came from in your accounts, your 401k even though you can't touch it unless you end the employment with an employer, or if you took a loan from it be prepared not only to show them you took a loan but they want your balance before you took it and once it's been taken and give a full written explanation to why you took that loan even if was from 1 year ago as they think you took it for criminal activities!
Never have I've been insulted as GUARANTEED RATE has!!! There is no guarantee with them. The company name should be GUARANTEED to make your house buying a horrible experience and if you want to know how a felony or criminals get treated then by all means GUARANTEED RATE will be more than happy to provide that service to you! And if you think about it with all that unnecessary information makes you start to wonder if they are selling your identity to others!!!
I reached out to Guaranteed Rate Mortgage to look at refinancing my home. Justin ** was the "Mortgage Specialist" who helped me with my application process. BEFORE I made the decision to apply for a loan, I explained to Justin on the phone that I have been divorced for 4 1/2 years, my ex-wife is on the title and the current mortgage and that my divorce decree says that we both equally split the equity or equally share any negative equity unless another method is used to get rid of the home. At that time, we had a negative equity and so we mutually decided that I would stay in the home and pay down the home until I brought it down to value and could refinance or sell. I asked Justin if any of this would be a problem and he said "nope, your ex-wife will just sign some documents when we close and that's really all there is to it".
Based on what Guaranteed Rate's Mortgage Specialist told me, I proceeded with the loan process, which included paying the $500.00 appraisal fee. Once it went to their underwriting, Justin and his team informed me that I would be approved for the loan but I had to get a "modified divorce decree". I checked with our local court where I got divorced, I checked with 2 attorneys and 2 mortgage lenders here in my town and all of them told me that I cannot modify my divorce decree for the property. They all told me that the legal method of handling this would be for my ex-wife to sign a "Quit Claim Deed" and the property is mine. Even the court system here stated that it's up to me and my ex how we wanted to handle it and if she was willing to sign a Quit Claim Deed, then that's all that is legally required.
I shared with Justin and his team that there are no ways for me to modify my divorce decree and I also reminded him that he told me this would not be a problem before I applied for the loan. Justin replied and said that Guaranteed Rate's request stands for a modified decree and that I would have problems with any other lender on this. So I applied for a loan through BBMC Mortgage out of California and they pre-checked with their underwriters and came back and said they would not require a modified decreae but would ask that I have my ex sign a document stating she was okay with me not selling the home and that she did not expect any equity out of the home. I also applied with another mortgage lender here in Lincoln, NE (Pinnacle Bank) and they checked on this before I applied and stated that all I would need is a Quit Claim Deed.
So I proceeded to apply with Pinnacle Bank and the loan went through underwriting and they were extremely honest, the only thing I will need is to have my ex sign over a Quit Claim Deed and that's all there was to it. Unfortunately, based on the false information Justin ** with Guaranteed Rate provided me and getting me to apply for the loan through Guaranteed Rate, I lost $500.00 on my appraisal fee. I had to pay another $500.00 for a new appraisal because most lenders will not allow you to utilize the same appraisal. Guaranteed Rate's response to this was that I agreed to a "no refund" on the appraisal and they felt they owe nothing to me despite the fact that their Mortgage Specialist misled me in order to get me to move forward applying for the loan and despite the fact that Guaranteed Rate was requesting something from me that simply cannot be done in modifying my decree.
They would not accept other legal methods of handling this. I strongly encourage anyone applying for a loan to seriously think twice before going through these online mortgage companies and if you do, DO NOT use Guaranteed Rate. There are way too many other mortgage lenders out there and you don't want to be misled just because someone gets commissions from selling loans. Most of the online lenders simply want to sell as many high volume loans as they can and they don't care if you lose your upfront fees, there is no risk to them to get you to apply. Use a local lender, I found that they offer much better rates and in my case, they even discounted my closing cost by $1,000.00 to help me out because of the $500.00 I lost with Guaranteed Rate.
This company was NOT transparent and really put me in a bind! From the beginning, I told them how much cash I would have for a down payment and what my budget was for cash to close. I made it through all the hoops and was given a thumbs up for closing. The good faith estimate stated about $6000 cash to close, and the Closing Disclosure emailed to me three days prior to closing stated $5165. "Awesome," I thought to myself, "less than what I expected." I make it to my closing appointment at 2pm and the title company is still working on getting the CD to balance. At 2:49 pm, the lender emails a new CD to me while I am already signing paperwork for the loan. The new CD states $23,000 cash to close!!!
This is not even close to what we discussed in the beginning of this process. Now, at this point I am already $2000 invested in earnest money and inspection fees, and I have a moving truck paid for and ready to move my belongings the next day! Had I known from the beginning that my debt to income ratio was too high, I would have simply rented for a while. But no, they get me into this deal to a point that I cannot back out...the day of closing...and spring this information on me. In the meantime, I accepted a transfer and had to start work. This left no time to locate a rental, really backed me into a corner. They did rework the loan and get cash to close down to $12,500. So now, it is Monday morning and I arrive promptly at 8:00 to sign closing docs, again. The title company says the lender has not sent the paperwork yet.
I perused the previous reviews, and I have to say, it's not about Guaranteed Rate as much as it is the person/people you are working with. Sure rates are rates and loans are loans but people make the difference. We are just finishing buying a home in a very competitive market (SF Bay Area) and the SF team (Phillip, Robert, Justin) are amazing. They have responded to every question and concern we've along the way. Our file was spotless, and when we came up against an issue obtaining flood insurance, Phillip went out of his way to help us find a policy.
Our file went to underwriting without error, which made the underwriting process painless. Yes, we had to provide bank docs, all investment accounts, tax returns, pay stubs, practically our firstborn child, but you have to be prepared to do that when applying for a mortgage. It's just part of the deal. Because of their quick work and attention to detail, we are set to close a week before our original date. This is my third home purchase and I've never had an easier, or more pleasurable, experience. I joke with Phillip that I will actually miss emailing him every day! Could not give Phillip's office a higher recommendation. Thanks to the entire team!
Nicole ** in Chicago, handled my loan and was always quick to respond. The team was always quick to respond, I sent signed documents online and seemed to have received a response instantly. The whole process was a breeze and took about two weeks total! I did have to resend paper work several times. I thought was odd, annoying at times. But it paid off.
I was told that I have locked in rates and everything is good to go. Made me pay 600 for the appraisal. After two months of useless document request. I was told my debt to income ratio is too high. Really I had an approval from Quicken Loans which I passed due to better rate. Anyways, I would stay clear from this shady company.
After the initial setup and documentation, they kept coming back and asking for the same info over and over again. I should have stopped right there. We combined our mortgage, equity loan and a college loan into 1, and it was impossible for them to get the info straight on how they would be paid off... First they said the college loan check was coming to us and we'd pay it, and then it magically was sent directly to the loan center weeks late and we had to deal with a late fee. So we paid our first payment which was due June 1, and a couple of days after, we received notice that our mortgage was sold to another lender.
The new bank harassed us from day 1 about our June payment, we continually called Guaranteed Rate regarding it and they just could not send it to the new lender our June payment in a timely manner...48 days to be exact before we threatened them with legal action by email. Then they wired it within a few hours. Every person we spoke with assured us it was gonna happen right then, yet never did, including my original contact regarding the loan, who was condescending in his reply to me. The new lender was a bank we would not have wanted to do business with based on their reviews, and now they are harassing us for late fees. Be prepared to have Guaranteed Rate sell your mortgage and send you to a lender that you may not want to be associated with. They are a nightmare, and I would run away from them!!!
We are disappointed to hear about your experience with Guaranteed Rate and would like to understand your issues further. If you can please contact our Customer Care Team with your loan information.You can reach us either by phone at (773) 328-6467 or by email at CustomerCare@Rate.com.Sincerely,
The Customer Success Team
Poor communication, asking for stuff over and over again by different people cause the rate lock to be extended which costs me money. Its month 4 still not closed yet. Horrid service. Do not use them. Kelly ** is an idiot. Worst experience.
Invade privacy and liars: The worse. RUN. DONT. They are poorly educated with what they are doing. Karol ** very unprofessional. Susan ** don't know what she is doing. Poor communication and they are impossible to deal with. Just live under a bridge before you consult them and I'm very serious.
We are disappointed to hear about your experience with Guaranteed Rate and would like to address your issues and concerns further. If you can please contact our Customer Care Team with your loan information.You can reach us either by phone at (773) 328-6467 or by email at CustomerCare@Rate.com.Sincerely,
The Customer Success Team
I'm a single first time home buyer working what I think is a first time loan officer. Yes, the blind leading the blind. I was not explained any kind of a process. I trusted that Damien ** knew what he was doing and that there was some sort process. I probably talked to him once every two weeks over about a month or so. I did not have a clue what was going on and never got an answer if I was ever approved or not. Anything and everything that could go wrong went wrong. I would just get emails of paperwork and sign them as I got them with. I would get a text or email 1-3 weeks later with a response that he just got my paperwork. I finally just gave up because the "process" was going absolutely nowhere.
To add insult to injury, my card was charged 4 days after I signed my release forms. He told me on 5/11/17 that it would be billed. As soon as my RE agent let Damien know that I was no longer interested in his services. He finally emailed me the electronic bill to sign after my release form was signed. I never signed it or responded to it and they still charged my card without my signature. Just to cover his butt because he would just let my paperwork sit for weeks at a time. To make a long story short... ask for an agenda, how much money for anything and everything. Interview your lending agent. Get everything in writing upfront. I called the corporate office. They said that they will not refund my money.
I have read a lot of these reviews and am surprised at how different many people's experiences have been with Guaranteed Rate. I worked with Tony in the Ann Arbor, MI office. I was purchasing in Houston, Texas. I started with roughly 8 direct lenders and narrowed down to Guaranteed Rate - overall best deal I could find after pitting the lenders' offers against one another. As for the entire process (and even after closing) Tony was very quick to respond (minutes after emailing) and would always give me a call back if I left a voice mail. After closing I had a couple questions and he was still very diligent and responsive. I really appreciate it and would highly recommend Guaranteed Rate based on this experience, and deal. (1% double match through Freddie Mac - I actually got money BACK at closing!) Thanks again Tony!
I had work with them for two different Mortgages and had very different experiences. No closing Manager was ever introduced, no one even showed up for the closing of my second house! They would say I was "clear to close" and then ask more financial questions and tell me I'm still in underwriting. I must have gone back to underwriting about 4 times. I was ask to call a number they gave me to waste my time in collecting my current tax records... My copy wasn't good enough. The phone number was wrong and we were two weeks before closing when this occurred.
No faith in they know what they were doing... They would ask the same questions to the wrong people within my team. My real estate agent was ask to get item the lawyer would traditionally answer. No one ever kept me in the loop when they were asking for an extension. The closing was a hard deadline. And everyone knew it. Just very stressful and inexperienced people doing their job poorly. Go elsewhere... you don't need the stress!
We are sadden to hear about your experience. If you would like to discuss these issues further please contact our Customer Care Team with your loan information. You can reach us either (773) 328-6467 or CustomerCare@rate.com. Kind regards, The Customer Success Team.
Guaranteed Rate Mortgage Company Information
- Company Name:
- Guaranteed Rate
- Company Type:
- Year Founded:
- Formerly Named:
- Guaranteed Rate
- 3940 N Ravenswood Ave
- Postal Code:
- United States