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Guaranteed Rate Mortgage
Overall Satisfaction Rating
1.74/5
  • 5 stars
    4
  • 4 stars
    2
  • 3 stars
    0
  • 2 stars
    0
  • 1 stars
    27
Based on 33 ratings submitted in the last year
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    Guaranteed Rate Mortgage

    Concord, NC

    ConsumerAffairs 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.

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      121 Guaranteed Rate Mortgage Consumer Reviews

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      Page 1 Reviews 1 - 10
      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!

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      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!

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      Rated with 4 stars
      Verified Reviewer
      Original review: May 27, 2019

      Unlike other posted reviews my experience with Guaranteed Rate, Inc was positive. Mike ** was my loan officer. He was always very prompt, courteous and professional; REALLY knows the business! Cathy was the person who handled the final documents/verifications and she was amazing. I actually looked forward to talking with her! With the exception of 2 small issues (mistakes made by staff who is no longer there) my the process from start to finish was so much smoother than I would have ever imagined. I am a widow and this was my first home purchase on my own. I felt respected and in good hands.

      Guaranteed Rate Mortgage response

      We are delighted to read about your positve experience with us! We hope to work with you in the future, should you decide to look into your mortgage options again. Thank you for the review and thank you for choosing Guaranteed Rate!

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      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Jan. 17, 2019

      I just closed my second residential loan with Guaranteed Rate. I was recommended to a specific broker team by someone whom I trust very much & I was not let down. In both cases I was clear to close early. I’m someone who submits all docs ASAP and consistently updates stubs and statements as they come in, so maybe that helped. Personally, I work in commercial lending at another bank, so I know that underwriting is a crucial process where the borrower and lender have to be an efficient team that communicates well. It takes both sides to get the deal done, so the more proactive you can be as a borrower, the better off you’ll likely be. Build a strong relationship with your underwriters and your originator, because it helps - especially down the road when the loan has closed and you need help from someone for whatever reason.

      Now, the most recent loan was actually kept with GR, who is now the loan servicer. First time I’ve had them as a servicer. Our loan is a joint account and my other half keyed in his checking account number wrong for autopay. We weren’t notified by the system AT ALL that the payment was rejected. I didn’t know until I got an email saying the payment was late. So, I have an email for autodraft set up, an email for autodraft payment initiated, then 10 days later an email notifying me that no payment has been made. Soooo... the system seems to have the ability to generate emails - why no email for a rejected payment? So, the late payment email came after our grace period and now we have a fee, a stained borrowing relationship and potentially a ding on our credit reports.

      Shame on us for keying in the info wrong, but why no notification that the payment failed?! Even the online payment system didn’t show anything rejected or have an alert - it just said next autodraft in X days. I called in to the number on the missed payment email and was treated like an animal. Like I am the scum of the earth, a delinquent borrower.

      You see, this issue could have been easily corrected if I had proper notification via an email, phone call, or alert when I log in. I didn’t have a fair opportunity to fix my mistake. The CSR told me they can’t call about rejected payments (huh?) and that I can’t set up alerts. Feels like dirty business to me. She told me she’d apply my one time fee waiver. NOT GOOD ENOUGH. Why should I use my only fee waiver for something that could have been prevented by normal and reasonable customer service. Then I remembered - my originator & our relationship.

      Sent him an email detailing the issue & he waived the fee no questions, I still have my one time fee waiver, and most important - I got an apology. The only reason I’m not spending thousands to refinance to get out of GR is because of my amazing relationship with my originator. He is my only contact going forward as far as I’m concerned. So, make sure you build a relationship with your loan officers/originators. They know what customer service is & will take care of you.

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      Guaranteed Rate Mortgage response

      Hi Lauren,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you had with our Servicing Department, but we are so glad to hear that you have such a great working relationship with your originator! We would appreciate the opportunity to look into the situation you described. At your convenience, please give our Customer Success Team a call.

      -Cassandra W.

      Customer Success Ambassador

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 14, 2019

      I am in underwriting for a mortgage closing and my experience with Guaranteed Rate affinity is horrendous! The staff's incompetence and lack of attention has pushed my closing twice. First, they didn't add a cosigner until late in the process and then they didn't order IRS transcripts until 5 business days before closing, making it virtually impossible to close on time AGAIN! The staff is unresponsiveness and unprofessional and now won't respond to emails. This company is a joke. Don't use them!

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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 10, 2019

      This company is HORRIBLE!! Got me a pre approval letter and thought we were on the path that would buy us a home. WRONG!!! Drew the entire process out with a VA Loan and even tried to add my spouse to help push it through... LIE!! We have bought 3 homes over 20+ years and NEVER had such a HORRIFIC experience like with this company!!! I wouldn’t recommend this company or their people to anyone, even my WORST ENEMY!!!

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      Rated with 1 starResolution In Progress
      Verified Reviewer
      Original review: Aug. 23, 2019

      This loan company could not come through in a timely manner. They delayed our closing and costs us thousands of dollars. They are incompetent and unable to be professional. Please never use this company.

      Guaranteed Rate Mortgage response

      Hello,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you are having with us. We would appreciate the opportunity to look into the situation you described. At your convenience, please give our Customer Success Team a call.

      - The Customer Success Team

      Be the first one to find this review helpful
      Rated with 1 starResolution In Progress
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 14, 2019

      As many many other reviews have stated, I'm thoroughly disappointed. I won't go into all the details, but to make a long story short, I've been working with someone for nearly a month, maybe longer. In fact, I gave them another chance, when I had gone to another lender, because GR told me they had a "new program" with no point buy down, that would beat my current lender's APR. Ironically enough, I mentioned that to my current lender and he said the only way I could get the rate GR says without buying percentage points is to have a credit score of above 700. Hmmm... Red flag!!

      I was sent multiple pre-approval quotes from GR over the course of about a couple months, all with different amounts, interest rates, etc... Partially due to the houses I liked ended up having contracts on them already and things having to be re-worked. However, multiple times they had been re-worked due to some "new program that just came out"... Or so that's what I was told.

      Finally, I received a rate and payment I was satisfied with... which sounded almost too good to be true, considering I don't have the best credit. When I looked over the breakdown of all the fees and monthly payment, I noticed a "hazard insurance" added in which I was told was basically home owner's insurance. I called to ask if the "hazard (home owners) insurance" could be removed from my monthly payment as I chose to bundle it with my auto insurance to get a lower rate.

      The most recent detailed breakdown for everything was $235,000 (purchase price) with $50,** down payment (about 21.5%) with total due at closing of $57,**. Fine! I noticed the monthly mortgage of around $1500 after taxes, insurance, and a $121 "hazard insurance (aka home owner's insurance). I called to ask for the $121 to be taken out, and to change the $235,000 to $234,000 (offer price for the home). Simple right?! Well, mathematically, one would assume that by doing that things would go DOWN, not UP. Well, this must be the NEW stupid math, because everything went up, after I got my "new" detailed statement back. My down payment increased to $53,000 and my total cash to close jumped to $64,000. How in the HELL does everything go up, when I asked to remove the $121/month AND the selling price of the house went down $1,000???

      Apparently numbers were changed, without my knowledge OR permission to try and PUSH it through the computer so it would get approved. I was told something about the computer flagging it for non-approval at only 20% down and that's whey she increased the amount... again, without my knowledge or permission. Ummm... Last I checked, $50,000 is more than 20% of 234,000. Doesn't take a mathematician to figure that out. Was then told by the lady I was working with, that she didn't know why it wouldn't go through and was sent over to her loan officer for investigation to see what they could do. I went back to my original lender, of which now I trust none of them, so I hope he comes through since I'm supposed to close Sept 12.

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      Guaranteed Rate Mortgage response

      Hello,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you are having with us. We would appreciate the opportunity to look into the situation you described. At your convenience, please give our Customer Success Team a call.

      - The Customer Success Team

      Be the first one to find this review helpful
      Customer increased Rating by 4 stars!
      Verified Reviewer
      Original review: Aug. 13, 2019

      We have been dealing with this company for 4 months now. On top different loans. Every time we are told a settlement date... they say, "No, we can't settle". Other than giving them the soul of my first born child, I can't imagine what else they could possibly need. I have jumped through hoops for nothing and losing money every day. We were promised that everything was going well and that these loans are no brainers. It is causing major problems in my family and to my health. I actually ended up in the hospital due to stress.

      This company came recommended and I am truly wondering how anyone could recommend this company. The underwriters tell you everything is a go then they drop it like a hot potato. I have purchased 7 homes over the years and never ever have I had these issues. I'm left wondering, what the hell will happen next. These are people's lives they are toying with and they just don't care. Our world has been shattered. What do we do now, now that they have our money and we still don't have a settlement date. On either loan. Unbelievable. Buyer beware.

      View more
      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 6, 2019

      Without going into all the details, which I will do at a later date, Guaranteed Failure has delayed my loan 14 days, and now says another delay is imminent. These people don't answer calls or send timely emails. They just don't know what they are doing...

      Guaranteed Rate Mortgage response

      Hello,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you are having with us. We would appreciate the opportunity to look into the situation you described. At your convenience, please give our Customer Success Team a call at 773-328-6467.

      - The Customer Success Team

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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
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