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Guaranteed Rate Mortgage

Concord, NC

Guaranteed Rate Mortgage
Overall Satisfaction Rating 3.72/5
  • 5 stars
    76
  • 4 stars
    101
  • 3 stars
    57
  • 2 stars
    11
  • 1 stars
    33
Based on 278 ratings submitted in the last year

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

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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...

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    Are you this business?

    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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    How do I know I can trust these reviews about Guaranteed Rate Mortgage?
    How do I know I can trust these reviews about Guaranteed Rate, Inc.?
    • 2,735,967 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.

    Page 1 Reviews 0 - 10
    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 15, 2020

    The loan was easy to get but after I closed it got ugly. The state of Texas approved me for a 100% tax exemption due to me being disabled due to my military service. I sent the paperwork to them and heard nothing for 2 weeks. I called to check on it and I would told to call back in 2 days and this went on for a week and a half and I was told that the delay was because they were behind because of Thanksgiving. Because taxes increased my monthly payment I asked what I should do until it was processed and they said it will definitely be done by the 16th which was my last day to pay it.

    Well as it got closer I asked to speak with a manager and she told me I need to pay my full payment with taxes or it will go on my credit and I will need to pay a late fee. I have heard nothing but lies, lies and more lies. They always say someone is going to call me back and they never do. I have told them numerous times that I am TAX EXEMPT and they are charging me taxes when I don't owe any taxes. Now I had to spend Christmas money because they decided to drag their feet for 2 maybe 3 months.

    3 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 5, 2020

    Very difficult to work with. Have used Guaranteed Rate 3 other times and when things are going well they are fine. Most recently we were paired with a loan specialist who was inept at best. After multiple delays on her part guaranteed rate switched us to a new specialist. At that point the trust in them was lost. Would avoid using them at all cost unless you want to feel small and insignificant when you need help. They stand by their employees which is a great quality but I don't feel it is smart to do when they spend 3 weeks not completing tasks they said they were going to.

    5 people found this review helpful

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      Rated with 3 stars
      Verified Reviewer
      Original review: Nov. 23, 2020

      Doesn’t seem to get better... This is our second time working with guaranteed rates and the first time there was not a concept of time and we figured it would be better. The rates are good but the service is not the best. We were told by Brian there in order to close on time there could be no hiccups, but they’ve been sitting on our file for over a week. We were told they will get back to us this past Friday and no one did, but mind you they told us in the beginning to close on time. There could be no hiccups because of the holidays.

      Although the rates are good they do not have a concept of time is of the essence and the communication could be a lot better. It’s already a stressful time and then to be during the holidays they don’t seem to try to make it any better. And because of them you could end up Losing a good bit of money in the event something happens and they cannot go through with the loan because they don’t have a concept of time. Definitely weigh your options!

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 18, 2020

      Experience working with Guaranteed Rate, in Austin, TX. I put an offer in on a house and went through the underwriting and loan approval process with Guaranteed Rate. I decided to withdraw my offer from the house during a period which I was told by my realtor is ok for the buyer to withdraw with no problems. The loan amount was for 366,480 and the denial letter stated 345,400. There was a 3rd party financing addendum for 305,400, I applied for the loan at $305,000. I tried 366,480 which was why I was denied and because I increased the loan amount, it was an issue. Although, we sent the denial letter for the correct amount because we sent both. This did not trigger an appraisal waiver. The loan was never denied. The last thing on record is our conditional approval which is over 40% down. The sellers assumption is that my denial would’ve created a property inspection waiver.

      When I withdrew my offer, the seller stated that they would not give up the entire earnest money, and this is where the issue came in. I was told by my realtor and the mortgage lender, at the time, that I was in the right and that there was no reason I should not get my earnest money back. The mortgage lender said the paperwork on his end was correct. Based on this information, I hired a lawyer.

      I hired a lawyer and later into this litigation process, the mortgage lender of Guaranteed Rate, Eric **, stated “we messed up” and that his team should not have written a particular document. He admitted that to me as well as to my lawyer. Yet, he would not take responsibility for it and go on record to state him and his team messed up. Had he forfeited this information to me prior to hiring legal counsel, I would’ve split the earnest money with the seller, which they did offer before we both hired legal counsel. Even then, I would’ve taken the loss of earnest money, because I would’ve been aware the seller had the right to the earnest money. But, this was not the case as Eric ** never told me his team messed up until after the fact. All the while, Eric was saying he would do what’s right and saying how I was his customer/client, etc.

      Guaranteed Rate said they would compensate me for $4000 as a “customer service gesture”. The earnest money I was entitled to was $5,000 and the lawyer fees came in at $12,000. I would not have pursued legal action had Eric ** admitted his fault, yet he did not until after the fact. Before there was any legal action, the seller offered to split the earnest money 50/50, which I would’ve gladly taken had Eric ** admitted his fault and I had known that there was an error on our side, yet he did not. So at this point, not only did he and his team not do their due diligence during the underwriting process but they also did not once the issue came up, leaving it to the customer to take the hit.

      Guaranteed Rate’s offer of $4,000 was contingent upon signing a complete confidentiality/non-disparagement agreement. I without a doubt said no, mostly because I would not be able to share my experience and this attempt to being bought out by this corporation trying to hide their wrongdoings and not taking full responsibility. At the end of the day $4,000 out of the $2,500 (split earnest money) + $12,000 (lawyer fees) is really nothing, especially given the situation. After roughly just 5 minutes of research of Guaranteed Rate and lawsuits on Google, here’s what I found: **

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 11, 2020

      I have been trying to get my current home refinanced for over 4 months. They do not do what they say they will, the employees do not communicate with each other. You have to constantly call them on their fraudulent practices. (Charging for things such as a survey even putting a company name down that is due the money when they did no such survey. It was provided to them by me.) They send you the final paperwork that isn't right and make you sign to get the closing schedule so you will not see the actual numbers until closing. They try to rush you and they are in no rush with ANYTHING on their end. I'm so over this. I would NOT recommended them for anyone. Save your time and money and go elsewhere.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 3, 2020

      They run credit as soon as you enter SSN on their site. They make fake promises of lower interest rate and collect your information. The actual interest rates are totally different from the rates promised. This company should be sued and don't know how they are running this fraud business. The agent we were talking to was Cory **.

      4 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Oct. 28, 2020

      I got a discount offer through LifeMart – no lender fees to refinance your mortgage! I called and got a quote for 2.99% rate. Sounded good, so I requested a written quote with closing costs. When e-mail came through, the rate was now 3.5%! I called to find out what happened and was told that the quote of 2.99% accounted for points (that was not disclosed on the phone). I said OK, I will pay for 0.75 points, it shouldn't be too much. Well, GR claims that 0.75 points = 1.5 points, and charges you double. So when all said and done, the total came to about the same as Pinnacle Bank was charging me. Michelle **, Mortgage Specialist, then suggested I email her Pinnacle Bank quote - and she will see if they can do better. So I did. No response back. I waited, and emailed again - nothing. She just disappeared. Very unprofessional. Shady company. Do not recommend.

      Guaranteed Rate Mortgage response

      Hello,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you had 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. Our toll free number is 866-934-7283, option 4.

      - The Customer Success Team

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 14, 2020

      If I can give any advice at all, it is stay far clear away from doing any home financing with Guaranteed Rate. They do not follow guidelines, they make up what they want to make up. They out and out lie right to you. The originators never call you back when you have questions. The fees are outrageous. They don't lock the rate and add points on so you are paying them more. They are discriminatory towards people with disabilities and **. The DE underwriters do not know how to interpret guidelines as I confirmed it with HUD and FHA personally. They do not care about meeting your due diligence dates, and costing you unnecessary money just to deny your loan after you are told everything is good.

      They have made a single mother and 4 girls face homelessness because they neglected to do their due diligence and underwrite the file properly. Christoper Jacob ** is a seriously liar. He told me he had my part time income and it was considered. That was a lie because I never gave them that information. Mary had it out for me in the beginning as she is a racist bigot. She was determined to see this loan denied. I am following up legally because they should not be allowed to get away with this. After just settling a lawsuit for 15K one would think they would be more careful with how they treat their customers, not write high cost loans, and have qualified DE underwriters. My goal is to strip each and every one of their certifications, and to make sure the loan originator is not able to write bogus loans in the future. If they had any integrity at all, they would resolve the issue and relook at the information and request the proper information.

      Guaranteed Rate Mortgage response

      Thank you for taking the time to leave us your review. We have addressed your claims and have spoken with you. Please let us know if there is any other feedback you wish to provide.

      Thank you,

      The Customer Success Team

      5 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Sept. 29, 2020

      I applied for a pre-approval online and uploaded all documents requested. Waited 3 business day to get the first email from Emily the person assigned to my application. Spent a good time going over everything and she came up with additional documents needed, which I submitted ASAP. Called her, left message and did not hear from her. I scaled to customer service just to find out she will take another week or two for a prequalification not even a pre-approval. At this point I went to a Local lender who told me once they verify all the paperwork provided they will give me not a prequalification but a preapproval. And they did verify all the information I provided and game a pre-approval in 48 business hours. Thanks God and this local lender I will be closing in 30 days. This wouldn't never happened with Guaranteed Rate. They are the worse. Run away from them.

      Guaranteed Rate Mortgage response

      Hello,

      Thank you for taking the time to leave a review. We are sorry to hear about the experience you had 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. Our toll free number is 866-934-7283, option 4.

      - The Customer Success Team

      11 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 14, 2020

      I began my refinance process the first of May. I felt like the terms were great, and I waited for the next steps. I sent multiple emails to the loan officer after this with no response. A month later I received an email that the loan was ready to close, and that I needed to sign the document ASAP. There was a difference in the loan amount, and also a cash to closing requirement which was not in the original agreement, which I had in writing. Officer said he would increase the loan by that amount.

      From 6/22 to 7/20 I sent emails with no response whatsoever - one email asking that someone PLEASE respond with the status of this refinance. On 7/20 I received an email apologizing, and saying "I'm rushing the updated closing disclosures and will be sending those over to you shortly". I actually expected that "shortly" meant that day. Nothing. 7/22 sent email with no response. On 7/26 sent email with no response. 7/29 I was asked for my pay stub (this was the 3rd pay stub I had sent during this process). 8/10 I was given the numbers over the phone and asked to sign the document. I did sign, but requested this in writing, which I never did receive.

      On 8/19 I sent the loan officer the above run-down, "I understand your frustration - forwarding to the production manager". Said he was working on my rate extension "tonight" for a closing 8/25 - "keep your eyes and ears out". 9/1 no totals in writing, no communication from them. Sent email. Finally on 9/8 I reached out to say that I was done. Absolutely done. I have great credit scores, sent in a total of 3 pay stubs, responded immediately to any correspondence, and I am done. What a huge waste of time. 0 stars.

      16 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