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Guaranteed Rate Mortgage

Concord, NC

Guaranteed Rate Mortgage
Overall Satisfaction Rating 1.69/5
  • 5 stars
    5
  • 4 stars
    1
  • 3 stars
    2
  • 2 stars
    3
  • 1 stars
    33
Based on 44 ratings submitted in the last year
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This company is not yet accredited. See reviews below to learn more or submit your own review.

Guaranteed Rate is an online and in-store mortgage lender that helps consumers find the right loan program for homebuying and refinancing. With its online mortgage option, Guaranteed Rate lets you to handle the entire mortgage process completely from your computer or smartphone.

BOTTOM LINE

Guaranteed Rate is a mortgage company that focuses on simplifying the loan process and offers a 100% digital mortgage experience. Visit its website to apply and qualify for a mortgage that fits your needs.

PROS

  • Completely online experience
  • Work with mortgage professionals
  • Multiple types of mortgages

CONS

  • No in-store services in some states

Top Guaranteed Rate Mortgage Reviews We Found

Rated with 5 stars
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Verified Reviewer

Paige **, kept my nerves calm as my wife and I were trying to refinance. She was with us at the beginning and stayed in touch to the end. We are very pleased with the new rate. ... The closing person, and the notary public sent over to our home were fabulous and very informative.

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Rated with 5 stars
Verified Reviewer

I was clear to close in 1 week. Jay ** and his local team walked through everything. Jay waived the lender fee and I pretty much paid nothing to refi. This was the cleanest and most easy experience I've had with what could be a long process. Great team, great people, very competent and effective at what they do.

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    What is Guaranteed Rate Mortgage?

    Guaranteed Rate offers multiple types of mortgages, including:

    • 30-year fixed-rate mortgages
    • 15-year fixed-rate mortgages
    • Adjustable-rate mortgages
    • Jumbo loans
    • FHA loans
    • VA home loans
    • Interest-only mortgages

    If you’re interested in finding out more about a Guaranteed Rate mortgage or applying for its programs, visit a local branch or go to the company's website to fill out the loan application. You need the following information to apply:

    • Name
    • Email address
    • Home purchase price
    • Down payment amount
    • Credit score
    • Phone number

    Once you fill out the information above, you can get preapproval for a loan in as few as 15 minutes. Once preapproved, you work with certified loan officers and specialists who analyze your personal finances to help you choose the right loan.

    Guaranteed Rate mortgage rates and fees

    Guaranteed Rate’s mortgage interest rates and fees vary based on the type of loan and your creditworthiness. Prevailing economic factors also influence interest rates.

    Guaranteed Rate has an online mortgage payment calculator that gives you a rough estimate of your monthly mortgage payments. Work with your loan officer and lending specialists to find out what interest rate you qualify for.

    Guaranteed Rate mortgage FAQ

    Does Guaranteed Rate sell mortgages?
    Guaranteed Rate doesn’t state whether it sells its mortgages to other financial institutions. Be sure to ask your loan specialist or loan officer about the possibility of the company selling your mortgage.
    Is Guaranteed Rate a mortgage broker?
    No. Guaranteed Rate handles all mortgage loans in-house and does not act as an intermediary for other mortgage lenders.
    Is Guaranteed Rate a good lender?
    Guaranteed Rate receives good reviews from many customers. The company offers mortgages to consumers nationwide.

    Is Guaranteed Rate mortgage good?

    Guaranteed Rate helps consumers get mortgage loans online and in stores. A Guaranteed Rate mortgage is a good option for consumers in any state who want to complete the entire mortgage process online. Visit the company’s website to apply.

    Guaranteed Rate Mortgage Reviews

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    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: March 6, 2020

    I was clear to close in 1 week. Jay ** and his local team walked through everything. I didn't have to submit pay stubs since they could validate income through the banking shared system. I didn't have to pay for appraisal since they gave me the highest value possible allowed with FannieMae for my property, way higher than I thought. I got the lowest rate possible and shopped around to be sure. Jay waived the lender fee and I pretty much paid nothing to refi. My prior mortgage was paid off within 3 days of closing and I got excess money paid back to me via direct deposit within 3 days. My mortgage was sold as they told me would be the case when I applied (they told me either Chase or Wells Fargo most likely and it went to Wells). This was the cleanest and most easy experience I've had with what could be a long process. Great team, great people, very competent and effective at what they do.

    5 people found this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Jan. 28, 2020

    Paige **, kept my nerves calm as my wife and I were trying to refinance. She was with us at the beginning and stayed in touch to the end. We are very pleased with the new rate and am now able to pay a few bills that caught us by surprise. The closing person, and the notary public sent over to our home were fabulous and very informative.

    Guaranteed Rate Mortgage response

    Thank you for the kind review! We consistently strive for greatness, and we're happy you saw it firsthand

    - The Customer Success Team

    2 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: Sept. 3, 2019

      I have read many of the reviews and am sad that many of those people did not have the experience I did. Dominic **. was amazing. This was my first purchase of a home and Dominic helped me every step of the way. When I called he answered or call back as soon as he could. He never left any of my questions unanswered. He worked with me when I had trouble getting some paperwork. I would recommend Dominic to friends and family. Thank you Dominic and Guaranteed Rate!

      Guaranteed Rate Mortgage response

      We appreciate the time you took to leave us this awesome review! We are thrilled and delighted to know your experience with Guaranteed Rate was a great one. Thank you for this review and thank you once again for choosing Guaranteed Rate!

      4 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 20, 2019

      Based on my experience with Guaranteed Rate for refinancing my home, the Loan Officer Mr. Keith ** handled my case very carefully in a very efficient way and quick results. I even got a better rate than I hoped for. Mr. **'s team - the Mortgage Consultant Shawn ** and the Loan Coordinator Jessica ** did work together efficiently as well. They are knowledgeable to what they are doing. They are so easy to work with. Overall, my experienced went smoothly, from the beginning to closing. I would highly recommend Mr. ** to everyone who needs refinancing/purchasing their home.

      Guaranteed Rate Mortgage response

      Thank you for the awesome review! We are delighted to read about your efficient and quick experience with us. Thank you again for choosing Guaranteed Rate!

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 27, 2020

      Although COVID 19 did have some impact on our process, we were told that the underwriters were concerned about our loan to debt ratio. The final conclusion was to pay off a student loan (which was actually being paid for by a grant), and put less down on the house. The net effect was to decrease the ratio, but to actually increase the monthly burden to us (increasing the monthly payment by nearly $200 and adding PMI which would not have been there). The closing date was also pushed back by 3 weeks. If it would not have been so difficult, we would have dropped Guaranteed and gone with another lender - however, given the particulars of the time, we could not. We also ended up paying for points when other lenders would not have changed it. For all these reasons we regret going with Guaranteed Rate and cannot/will not recommend them to anyone.

      Be the first one to find this review helpful
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      Rated with 1 star
      Verified Reviewer
      Original review: May 14, 2020

      Me and my girlfriend were in the process of buying a house. Paid for a termite inspection, home inspection and appraisal. After we paid they refused to use my part time job income and lied about my girlfriend losing her job in order to disqualify us for a loan. With my part time income am more than able to qualify. Am out of $1300 thanks to them and have to start the process with a different lender. Don't use this company. Am not the first one to go thru this.

      2 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer Verified Buyer
      Original review: April 18, 2020

      I used Guaranteed Rate to purchase my home 2 years ago. Unfortunately, due to a challenging divorce I was required to refinance my home in my own name as my sole and separate property. I contacted GR for the refinance since they helped me with the initial purchase. It was nothing but a struggle from start to finish. The whole process took 4 months to complete and they were unable to refinance me at a rate equal to or less than my current rate. GR wanted to control every aspect of my divorce, from when and how I was to pay my ex his equalization payment, when I signed my final decree, when my ex could get the Quit Claim Deed to sign, etc. All of this was completely unnecessary and just made the whole situation more stressful and drawn out.

      Communication was terrible. We were never on the same page. They even asked to speak with my lawyer directly more than once, costing me several hundreds of dollars, because they didn't understand or believe the conditions of my divorce I had already explained. I was told on several instances that everything was complete and that I would be cleared to close but issues kept coming up. I asked several times if there was anything else outstanding in my file preventing the clear to close and was told no. I found out days later that they had been unable to verify my homeowners insurance for 3 weeks. One quick phone call and this issue could have been fixed weeks earlier. This was just one example of several communication issues.

      For a company who claims to make the security of personal information a priority and have a completely secure online process, this was also a major problem. I was asked to send my personal information including bank statements to three different people via email and when I attempted to use the secure portal I was told not to. When my Dad asked to submit his personal information via a secure portal, he was told that the account was not set up for that and was requested to also send his personal information via email.

      Through the whole process I never felt like a priority. They were unable to close my loan prior to the expiration of my rate lock, forcing an extension. They constantly blamed the COVID19 situation for their delays. After 4 months and a week past my anticipated closing date I returned a phone call only to be told they would call me back at end of business day because they were busy closing another client's file.

      I absolutely will never use this company again and do not recommend them. If I wasn't so far into the process and wanting my divorce to just be finalized after a year long battle I would have canceled my application and gone with another lender. Unfortunately, I had to meet a deadline as a condition of my divorce or sell my home. They made it impossible for me to switch lenders so late in the game.

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      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 23, 2020

      Stay away from this company find a new lender before you close. You have the right to find one. I should have..First off I am a first time home buyer and the start nice and sweet, then I call with a few questions and was told, "I will call you back." Never did.. She had attitude when I called her back. She was very unprofessional and rude. Her name was Louise. I will never recommend and refi with them.. that was before I closed. Now after closing everything seems fine.

      I get my first payment slip for them and the numbers a screwed up, so I pay them and 3 days later I received another payment slip from Suntrust that bought my loan from them. I call G.R.A. To send my payment over to them and they say can’t til it’s due?? What I pay you to pay them not for you to hold my money to make interest for yourself then send it when it due. They should sent it when I want it paid. I am just trying to make sure my mortgage was paid to the right people during a national crisis. And they don’t care about you or what happened try rocket mortgage. Bottom line go to a bank cut these losers out..

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      7 people found this review helpful
      Customer increased Rating by 3 stars!
      Verified Reviewer
      Resolution response: March 17, 2020

      They are trying their best.

      Original review: March 16, 2020

      They wasted my time for 2 months and we're completely unreasonable & unprofessional. Stay away, if I could give a negative score I would. I had another lender I was working worth and trusted these guys based on the lies they told me: that was a terrible mistake. My fico is 800+ and income is fine yet they couldn't get the loan processed after months of back and forth despite me meeting all requirements and giving them everything they asked for. Don't waste your time, go with someone else and stay away from Guaranteed Rate; they are nothing but a headache. I sincerely regret giving these guys an opportunity to serve my needs. Bunch of amateurs.

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 10, 2020

      Guaranteed Rate brought interest rate points without my consent. First and foremost, I was referred to Guaranteed Rate by a realtor. Everything seem to be going smooth at first. I was initially told to lock in a float down interest rate and when a lower interest rate is available they will lock in the lower interest rate. THIS WAS A LIE!! When my loan officer contacted me to tell me that I was going to get an interest rate of 3.75%, I was excited because my initial interest rate was somewhere around 4.35%. Later my loan officer called me and said that there was a mistake made regarding the interest rate and that his manager told him, if he doesn't correct it they will take the money from him. So instead of my interest rate dropping, they made me pay for points to bring it down without my consent. I wasn't aware of this until I went to closing and my attorney pointed out that I had purchased the points to bring the interest rate down.

      It was so underhanded on Guaranteed Rate's part. The amount was small enough where you could hardly notice it was there in the midst of other fees. When I called Guaranteed Rate at closing to confront them about the purchase. The manager told me that I shouldn't be upset seeing that my loan officer had worked really hard on my loan and that If I wasn't satisfied, the closing could be stopped right then and there. I felt robbed. Even though the amount was around $250. Who buys down interest rates on a loan under $100,000. It does not make any sense because there is no real benefit in doing so.

      My loan officer tried to convince me that I was saving money in the long run. He also tried to convince me that I told him to make this purchase. Which was a complete lie. He later admitted that it was his fault and that he was new to the company and the manager was shadowing the loan. Ironically, the manager was fired two weeks later. I wonder why? Apparently, it was more than just me that this was done to. Buyers beware!!!

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      11 people found this review helpful
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      Guaranteed Rate Mortgage Company Information

      Company Name:
      Guaranteed Rate, Inc.
      Company Type:
      Private
      Year Founded:
      2000
      Formerly Named:
      Guaranteed Rate
      Address:
      3940 N Ravenswood Ave
      City:
      Chicago
      State/Province:
      IL
      Postal Code:
      60613
      Country:
      United States
      Phone:
      17733286467
      Website:
      www.guaranteedrate.com