Guaranteed Rate Mortgage

Concord, NC

Guaranteed Rate is one of the ten largest retail mortgage lenders in the U.S. The company has become The Home Purchase Experts® by offering industry-leading self-service tools and low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Headquartered in Chicago with approximately 175 offices across the U.S. and licensed in all 50 states, Guaranteed Rate has helped hundreds of thousands of homeowners with more than $65 billion in home purchase loans and refinances since 2000.

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Consumer Complaints and Reviews

They were patient and walked me through the process. As it was my first time, I had a lot of questions and they eased my mind. I was impressed by their level of involvement. Every time I spoke with them they knew who I was and how to meet my personal needs. They were able to and willing to help in any way possible. They were friendly and helpful throughout the whole process. It was great knowing they were in my corner assisting me throughout the process. Great value. You can't put a price on peace of mind and I had it throughout the process because of them. It seemed effortless. I was very thankful.

Guaranteed Rate experience was the worst mortgage experience I had ever experienced. I wish I could rate them lower than 1 star! As a part time real estate investor, I have dealt with multiple mortgage companies in the past. It was time for us to refinance our personal residence and I asked a Tim **, real estate acquaintance for a recommendation for a refi.

He suggested Leo ** of Guaranteed Rate. Leo sent the application and then I was assigned to deal with Jennifer **, loan coordinator. I made application in May 19, 2016. I began to send them all the documentation they requested. I had the house appraised and it came in much higher than I expected. As a re investor, I had closed on multiple deals, latest was 2012 and the wanted the closing docs for those. Not enough. They asked for more. (I had wind damage to my roof in March and filed a claim which the insurance company paid). Underwriting wanted to know what the large check recorded in my check account. I showed them the documents for the roof repair. They asked where I got the money, I had to show them the insurance deposit.

Somewhere along the second month, they said I was the owner of the company I work for and wanted all my business records. I said I am an employee, I WORK as an EMPLOYEE. They said somewhere on the internet it said I was the owner. (I am the General Manager.) I had to have one of the employees (Since I was the GM) write a letter on company letterhead to state that I was not the owner. They called him at work to ask him if I was the owner. Not good enough! Two weeks later, they wanted documentation of the owner. I had to have the accountant of the company send them documentation that I was not the owner. Another month passed.

In July I get a closing documents to sign, closing is scheduled for July 13. It came and went. The rate lock was good for July 31st. That came and went. Then the Loan Coordinator took a week off while underwriting worked on the loan package. Jennifer returned, underwriting was behind and everything is delayed. They asked for my 2013 Tax returns (they had 2014 and 2015). Finally, It was delayed because the investors wanted some P&L and Balance Sheets of some companies that my family runs independent of our participation, but my wife is listed as part owner. That took about a week.

Our credit score is mid 700 and our income is well above average and debt to income is low 30%. No problems there. Then August 12 (FOUR MONTHS!!!) Jennifer calls and said they have bad news. The underwriter miscalculated and made an error in data enter of my documents and once they corrected the problem, my debt to income is too high to be approved. WHAT???

I know what I make, I know what I owe, there should be no problem. Jennifer confessed that they made a huge mistake by not entering the information correctly. AND because (I have good accountants who know how to LEGALLY show a lower taxable income) it made my debt to income exceed their qualifying levels. I was not approved. By saying that their underwriters are college interns would be too kind. Their underwriters are not as smart as a 5th grader! I believe they hire elementary students as underwriters. I will start all over now but not with NO Guaranteed rate. Ty, get another job!

Hello Keith,

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 We would love to speak with you and resolve these issues.


The Customer Success Team

Accuracy was very prompt, legit and legible without any kind of discrepancies, unlike other businesses and I'd highly recommend this service to anyone, just as well as I highly value it. Organization was very satisfying and pleasing, unlike others and it was united instead of being individualized. Customer service was very desiring and attentive, compared to others. The value of this business is totally credible.

I got what I asked for... can't complain. Interest rates high...not very comparable. Seems more interested in money. I think they took advantage of me being in a Bind. Not really my best decision. Seemed very scattered... nobody seems like a priority. They took calls and answers questions so good in that respect. Once again...not the best decision ever made. Everything was just so lackluster. I can't complain because they came through. I am grateful but that's all it was a human compassion behind it. Business straightforward.

Hello Jennifer,

Thank you for your feedback. We will take it into consideration as we work with loan teams to improve. If you would like to discuss your experience further 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 We would love to speak with you and resolve these issues.


The Customer Success Team

The service was pretty good but it still felt like they were only interested in how much they could make off me. There was no sincerity and no honesty. They couldn't wait till I signed a contract so their commission was secure. There was no feeling of true concern about my welfare. It was a definite feeling of big corporation. The more numbers they put up the bigger their group would get. Since the bailout, a lot of big business only see the consumer as a way to get out of debt and still be multi-millionaires. Gain everything and to heck with the consumer and their needs.

Well, customer service was horrible. You apply online and they're claiming to get to you within the week. But, 3 months later you finally hear from them and all the info you gave them was wrong so you have to start all over. That is if you haven't been sued. You apply online, it takes months to get response. The rates are top dollar, the willingness to go out of their way for your needs is not there and you still get very little service for top money.

Hello Lynn,

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 . We would love to speak with you and resolve these issues.


The Customer Success Team

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They was accurate while they are doing with my file and I liked the procedure of the company. I really liked the agents in the company while I was there in the office. It is the good organization and I hope I will continue doing the business with them in the future too. They treat their customers very well and I would like to thank them for the work they have done. I liked the customer service and I am extremely happy with the way the customers are treated here at the branch. Customers are the main important thing in a organization and if you treat your customers well. Their value is good and they have a very good value in the market and I will recommend to get the loan from them as they have the good rep.

I started out working with Mike ** at Guaranteed Rate in Grand Rapids, MI. The first few phone calls/e-mails he acted friendly and things seemed to go fast (this makes sense, as he was trying to gain a new customer. I told him I was just shopping around for the best rate). It wasn't long into the process that he started treating me like every question I asked was dumb, and giving me attitude every chance he could. I told Mike very early on that I needed this loan to be done by May 15 (two months out). He assured me multiple times that this is no issue whatsoever and we would be closing weeks before this. A few weeks into the process, Mike became very difficult to get a hold of. Both my realtor and myself would call and e-mail multiple times within 2-3 days with no response until I would call from a number unfamiliar to him.

Mike lied multiple times about the status of my loan. For about a month he would tell me it's in underwriting. Then he would request more tedious documents from me (I was jumping through hoops left and right to get them every and any document they asked for). I kept reminding him that my lease ended May 15 and I had no other options as far as a temporary living situation (I have horses and dogs). He kept saying "we're so close", "almost there", or "it's in the final stages of underwriting". Finally, I called his manager RJ ** who told me "this is very unlike guaranteed rate" and "I'm so sorry for all of the miscommunication with Mike". I told him about Mike throwing fits and he told me from there on out he would be my contact, and I should no longer communicate with Mike.

Over the next few weeks, I kept pushing for the loan to get done by checking in every day to see if there was any additional documentation they needed from me. RJ started falling off the face of the earth, and was just as hard to get a hold of as Mike had been. Luckily for me, I had his cellphone number. So I would just call over and over again until he would finally answer (this is after he would ignore me for 4-5 business days). So the week of May 15 comes around and Mike (who ended up getting involved again) told me I should have the clear to close by tomorrow. I spoke with RJ the same day, and he said that realistically it wouldn't happen for a few more weeks, because given the lengthy process (which he admitted was no fault of my own), my credit report that they pulled was going to expire that Friday and there "isn't much we can do".

At this point, I was backed into a corner and had no option other than to re-sign the lease for my rental property. My landlord was not willing to extend my lease by anything less than 12 months. I explained this to Mike and asked him to write me a denial letter (because RJ told me word for word that my loan "will not go through"), so I would be able to get my earnest money ($1500) back from the title company.

Mike threw another fit, told me "no way", hung up on me (like the professional he is), and proceeded to CALL THE SELLERS DIRECTLY to tell them I was backing out of the loan and they should not release my earnest money to me because I had the clear to close. This was not true, and I have e-mail proof from Mike after the time of this phone call stating that I still did not have the clear to close. Mike went out of his way to attempt to screw me over when it had absolutely no effect on him whether or not my EMD was returned to me.

Not only is this just straight-up mean, but what he did is also illegal and violates my privacy, RESPA, and the clean-desk act. Mike ** (and everyone else at Guaranteed Rate that I dealt with) is a cold-hearted, whiny little child that only cares about if they get paid or not. I would not recommend Guaranteed Rate to my worst enemy.

I was working with a guy named Frank (I'll be nice and not give his last name). He was friendly until I sent him my documents (DL, tax forms, W2's, etc.) then he went ghost for 3 weeks. When I contacted him to find out what the deal was, he says that he thought he had sent me the information. THOUGHT??? YOU SHOULD HAVE MADE SURE!!! HE IS A VP OF MORTGAGE!!! He never sent an approval letter. He didn't tell me what type of loan I was approved for. When he finally got around to emailing me the amount I was approved for, he changed that 3 times which made me think he was shady. Getting information out of him was like pulling teeth. The more I inquired about getting the loan the more ghost he went.

After emailing several times someone named David emailed me and said Frank didn't work there anymore. OK, GUARANTEED RATE MORTGAGE, THIS WAS THE CHANCE FOR YOU TO REDEEM YOURSELF!!! BUT YOU DIDNT!!! So it appears to me that no one wants any business. David did not tell me if my loan was still open, who would be my next loan officer. He didn't ask if I needed help or information. Clear signs that Guaranteed Rate Mortgage not a good company to work with.

Hello Juanita,

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 We would love to speak with you and resolve these issues.


The Customer Success Team

The underwriters were incompetent across the board. We had to re-send documents multiple times because they could not communicate what they needed the first time so we had to do re-work constantly. The company did not follow state/federal guidelines regarding providing final numbers for closing. We did not receive the final numbers until 15 minutes before we closed, versus the legal guidelines to provide us those numbers 72 hours prior. Additionally the numbers that were provided to us 15 minutes before closing, were over $3,500 more than what we had discussed the previous day. We then had to bring that difference unexpectedly to the table for closing.

The company also charged us $811.25 for an extended rate lock guarantee. This was not discussed and closing was held up by their inadequate filing of our documents, not because of us. We had to provide more documents than our last 3 houses combined and this was a refinance on a house we purchased 7 months prior so we had just gone through a closing with another bank. They claimed this is the new standard but since we just went through this process 7 months prior we knew they were full of BS. They also harassed my wife's place of work by asking for proof of employment 4 different times (including after we had already closed on the loan). They called and emailed her boss 8 times in a course of a week (her boss was not happy).

Hello Jeff,

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 We would love to speak with you and resolve these issues.


The Customer Success Team

I dealt with David and I have never worked with someone more incompetent. I started the process of getting a refi in early Feb. Gave them all the information required and discussed what I would like to see at closing etc. Things went smoothly enough at first, but as time went by I found myself having to send an email looking for an update. When I got information it was vague. Because you're dealing with an internet based bank, you have to sign forms electronically. I was asked to go ahead and sign even though the information will need to be updated later, but legally we can't schedule the closing until you sign those documents.

As the closing date approached I still didn't know the final loan amount, closing costs or what I would need to bring to closing. A few hours before the closing he tells me I will need a check for almost $3,000. I originally asked to have that kind of money rolled into the loan, but the appraisal amount made that an issue. That's fine, but I should have found that out days before any closing, not 3 hours before the closing. He said a personal check would be ok and that my first payment would be June 1.

When the attorney showed up it turned out a personal check was not ok and the first payment would be May 1. We did not close and I was ready to be done. Davids manager had David sort of apologize, "sorry you misunderstood me" and they offered a 1/8 point reduction with no additional fees. It was enough to entice me back in, but the same behavior from David. Either no information or just "can you bring this much to closing?" No explanation as to why I needed this much or that much. I did not know about the issue with the appraisal amount yet. I kept asking him to roll it in.

And then again, another closing was scheduled and I hadn't seen anything that told me what exactly I was closing. 3.5 hours before the closing the attorney calls me and tells me he doesn't have the paperwork yet. I called David and there is a problem with the Title or something and we have to reschedule. It's now the first week of May. The third attempt to close is approaching and again I don't know details. I know I was told I would get a lower rate, but I haven't seen anything official.

The attorney calls me to verify the appointment and I asked him for details. The rate was not adjusted and instead of rolling in the closing costs, I now need to bring $4,000 to closing and he's never mentioned it to me at all!! I cancelled the closing and sent an email to David shutting it all down. Nothing but frustration and disappointment. His manager jumps in again to defend David and offer me the original rate with points because now the rates have gone up and they can't even offer me the original rate DUE TO THEIR INCOMPETENCE!!! A complete waste of time.

Hello Steve,

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 . We would love to speak with you and resolve these issues.


The Customer Success Team

I'm so disgusted that I am speechless. I was recommended a guy named Mark **. When I first contacted him, it sounded too good to be true. He said he would not rest until I was completely satisfied ... blah.... blah ... blah. After submitting my loan application, he said I would get an answer in 24 hours or less. A week passed and I did not hear from him. So I made the first move and asked him about my application. He then said that he would work on it that same day and get to me later. In other words, it means he didn't move a finger for a week. He called me that same day to talk to me about my application and that everything looks good and he just needed a document but he was going to be out of town for the week (how convenient).

After not hearing from him for a week, I e-mailed him last Friday. He immediately e-mailed me back saying he was back in town and he will get back to me on Monday because he was off for the weekend for Easter. I contacted him on Monday (no answer), Tuesday (no answer), Wednesday - I called him and he answered, but when I told him my name, he stayed quiet and pretended that he couldn't hear me and hung up. I called him back and I got the answering machine instead.

Thank you for the feedback Carmen.

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 Success Team with your loan information.You can reach us either by phone at (773) 328-6467 or at We would love to speak with you and resolve these issues.

Thank you. - The Customer Success Team

Do not waste your time working with this company. I was just denied the application for a refinance for a reason that was never asked to be disclosed. I am out the $450 Appraisal Fee and countless hours of requests they made of me. By working with them it was counter-productive to my intention... to lower outgoing costs. I would never recommend anyone work with these people. My contact was Craig ** and he apparently doesn't take his job seriously nor does he seem to be adequately trained to handle this industry. AMATEUR.

David ** was very thorough, professional, enjoyable to work with. I would recommend Guaranteed Rate to anybody that would ask.

Austin ** and his team were incredible. Getting a loan with them was a breeze compared to my past financing experiences. From the easy to use interface, diligent and organized coordinators, and friendly people, the whole experience was more than just painless. It was fun. They also worked lightning fast. I can't speak highly enough of the service, and the rate they got me is GREAT. I can't wait to refer them to my friends, and will definitely use them going forward! I can't paste it to your website, but feel free to add it as a testimonial if you want. I want to connect you with my sister. She should probably refinance. She has a 45 year 5-1 ARM. It is unconventional though, as it's highly commercial where she lives. I'll send her an e-mail, and she can fill you in.

Hi Samuel, we appreciate the great review! Guaranteed Rate's Digital Mortgage was created to simplify the home buying experience by making it quick and easy for our customers to upload, review and sign documents. Customer service is one of our top priorities and Austin and his team exemplify this. We want to thank you for your referral, and look forward to working with you again in the future! Cheers! -- The Customer Success Team

Normally I don't write reviews, but I have to tell you about the wonderful group of people I had the pleasure of dealing with at Guaranteed Rate. When I decided to build a new home I was overwhelmed with the many mortgage lenders available. I didn't know whom to turn to. Then my real estate agent (Lisa ** - Century 21) recommended Guaranteed Rate. I was still skeptical of the whole Online Digital Mortgage process. I have never been more pleased with anything in my life as I was with GR. David ** (Branch Manager), Jonathan O'Brien ( VP Mortgage Lending) and Linda ** (Mortgage Consultant). Professional service from everyone involved with my mortgage.

They have this online digital mortgage down to a science. From start to finish, I was very impressed with their commitment to explaining the entire process and keeping me informed of how everything was progressing. All I had to do was follow their instructions, give them all the necessary documentation they requested and they did the rest. I'm no different than most people seeking to purchase a home. I had some credit challenges that the entire team worked with me to overcome. I can honestly say that GR went above and beyond to secure my loan. I never got to meet my team in person, so I want to say THANK YOU ALL! So if you're looking to purchase a home or to refinance, GR is the way to go! GUARANTEED!

Hi Gerald, thank you for your review! We are extremely pleased to hear about your experience working with Guaranteed Rate and our Digital Mortgage. The online interface was created with our customers in mind. Pair this with the knowledge and support of our great loan officers and processors and you have a painless mortgage process! Thank you for your recommendation and for being a valued customer. Cheers! -- The Customer Success Team

Our contact at guaranteed loans was fantastic. We felt safe and taken care of during the home buying process. Would happily recommend him to friends and relatives.

The entire office was kind, helpful, extremely informative and very communicative. They really made the whole process smooth and seemingly easy. I thank Brian and his staff wholeheartedly and will recommend them to anyone seeking a home loan.

Hi Gary, we appreciate the review! One of Guaranteed Rate's core values is "Putting the Customer First". Brian and his team are just an example of how this mentality can go a long way and make the mortgage process quick and easy. Thank you for being a valued customer! Cheers! -- The Customer Success Team

Our Experience With Guaranteed Rate from the beginning with Michelle ** made us feel at home and that we were in good hands and that we made the right choice of coming to Guaranteed Rate for our Mortgage. Her team was so helpful and at all times were in contact with us all the way to closing. Thank You Guaranteed Rate.

Guaranteed Rate was a pleasure to work with, will definitely use them again!

Our finance experience with Guaranteed Rate was exceptional. Your friendly and knowledgeable staff was able to guide us at every step. We appreciated each one of them.

My experience with Dan ** was an excellent one. The group was fantastic, they were very organized and professional. Their method of digital sign was wonderful, it eliminated footwork, and was paperless. I have and will continue to recommend them to anyone in need.

Hi Joann, we are pleased to hear about your experience with Dan and his team. Guaranteed Rate not only offers an online platform to make things quick and easy, but also a knowledgeable team behind it to offer top notch customer service. We appreciate the review and thank you for your recommendations! -- The Customer Success Team

Guaranteed Rate provided excellent service as well as offering the best value.

Hi Franklin, thank you for your great review! We appreciate it and thank you for being a valued customer. Cheers! -- The Customer Success Team

I was completely satisfied with Paul and his staff, and the process went very well.

I feel so upset that I did not check reviews before we dealt with this company - we would have steered clear. All the same issues: Disorganized, Misleading, Inaccurate information between depts. Delaying us from moving on to a company that actually delivered results - we had success but NOT with an internet company I might add.

First off let me start by saying this is my first experience with a online bank. I will never do this again! Guaranteed Rate has the worst customer service I have ever dealt with. No one will give you a straight answer. They have a "Pass the buck "system with several departments and none of them seem to know what the other is doing. My loan is supposed to close in a few days and no one there can tell me if it will close on time. After reading other reviews I am quite concerned. I can never get a straight answer from anyone there! I would definitely not recommend them to anyone!

Requested $50k loan online. GRL contacted me by phone, and transferred to Scott who asked me whether I would be interested in a condo or townhouse. I said, no but have seen a duplex. He asked, for how much? I said, $49,500. He replied, we do not mortgage homes for less than $50k. I thought being denied for $500 was petty, so I asked, you don't finance under $50k? He said, no and thanked me for being interested but could not help me anymore and wished me a good day and hung up.

We were referred to Pat ** by our realtor. When we initially spoke on the phone we said that we would be interested in paying a 20% down payment and taking out a 15-year mortgage. After that we had 4 different people send us papers to sign almost daily. None of these people seemed to communicate with one another at all, and many of the papers were duplicates. Pat seemed to have no idea of what was going on with the whole process and basically signed off as soon as our loan process got initiated. He seemed to have no recollection of anything we spoke about early on, and I don't think he had any communication with the other people who were handling our loan. He also forgot to lock our initial interest rate when he said he would, and we ended up having a higher rate than initially discussed.

Imagine our surprise when at closing I find out that all the documents were automatically done for a 10% down payment and 30-year mortgage. We never discussed this. Our bad for not reading over the 100s of pages of fine print. Now we are stuck paying the PMI. To put additional 10% down will need a new appraisal. Pat was a terrible communicator from the beginning and I wish we had gone with someone else. Choose a different bank.

We have bought and sold five houses in four states, so we know what to expect. Unfortunately, our recent experience purchasing a condo in Cambridge with our daughter was an absolute nightmare from start to finish. There were four different people in as many locations working on the loan documents, none of whom seemed to communicate with each other. There would be long periods of no contact, then a call or email with demands for some piece of information they needed immediately.

The loan rate they initially quoted was significantly lower than the final rate with no explanation for the discrepancy, but by then it was too late to go back to a more competitive lender. I would describe everyone of the individuals we had contact with as disorganized and unprofessional. We also lodged a complaint with our realtor. We strongly recommend finding another lender who can provide the expertise, transparency, and accountability you should expect for a decision as big and complex as buying a home!

On June 23, 2015 after a strong recommendation from my realtor, I called Joann ** with Guaranteed Rate of Grand Rapids, MI and was told that I was pre-qualified for a house that I was looking at. The only stipulation was that I pay off a small loan that I had. I paid off the loan as requested and started going forward on the house, getting all required inspections and corresponding on at least 20 occasions with Guaranteed Rate... Forward 45 days later and 2 days before we were scheduled to close, I was told that a final review of my file showed I was not qualified for the house because of an error on their end regarding the monthly payment I had on a different loan.

Seems Joanne had put a payment in that was only 1/2 of what the actual payment was, not what was on our credit report. Shawn **, the branch manager who was at least a little helpful told me that he had me again qualified for the house if I paid off and closed a credit card. Again forward 3 weeks and just before closing, I was told that nope, still not qualified. After talking to a different lender, I was told that no reputable company would have ever qualified me for that house. Now I am out well over $1000 dollars and now no one with Guaranteed Rate will return my calls.

9 DAYS LATE AND COUNTING! Guaranteed Rate is a Mortgage Company in Scottsdale 14811 N Kierland Blvd, Ste 100 Scottsdale AZ, (480) 214-8800 (they won't answer). MY clients are having to pay RENT because these guys can't get anything finished. The sellers are threatening a cure notice which will make the contract voidable. They had over 30 days to close which they assured us was plenty of time. It is unconscionable for lenders to have such disregard of their effects on people's lives.

Guaranteed Rate Mortgage Company Profile

Company Name:
Guaranteed Rate Mortgage