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Guaranteed Rate Mortgage
Overall Satisfaction Rating
1.69/5
  • 5 stars
    4
  • 4 stars
    2
  • 3 stars
    1
  • 2 stars
    3
  • 1 stars
    31
Based on 41 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. NMLS ID 2611

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      Guaranteed Rate Mortgage 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!

      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!

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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!

      Be the first one to find this review helpful
      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: Nov. 20, 2019

      In June 2019 we obtained a mortgage with Guaranteed rate mortgage. The mortgage was paid in full July 22, 2019 via certified check. Guaranteed rate mortgage sold that paid off mortgage to Chase bank September 2019. As of today’s date we have not received the escrow funds, prepaid interest, nor do we have a release of lien on our home. Steve ** of Guaranteed Rate, mortgage officer has refused to take my calls, respond to any emails, other than to tell me the problem is with Chase. The problem simply is that a guaranteed mortgage committed fraud, selling a paid in full mortgage to Chase bank. At this point my family is out greater than $1000 that was in the escrow account. Guaranteed mortgage has refused to help with this matter even though it is true it is clearly their problem.

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      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Nov. 14, 2019

      First of all this company deserves 0 star for what they did, if you still like to move forward with company please read this comments and clear with them before moving forward. I'm working with this company for my home loan refinancing. We lock the rate and knowing timeline we move forward with this loan, accepting interest rate and they committed credit during closing. I gave all the document on time and I was very communicative throughout this process. I was also checking with team if they need anything else from me to speed up the process.

      My Closing date was 13th Nov, last document I sign on 1st Nov after there is no communication from company. I was following up with company where we are. Team said they are working on condo approval that is taking time. On 13th Nov, I got new document saying, "We are adding addition fees $1052," closing date was 13th Nov and they were not able to close by then. Are extending closing date with lock rate to 18th Nov and for that they are charging additional fee that is $1052.

      I asked their team, "This was not my mistake if your process took time and you have to extending closing date." Still they didn't agree to do this and didn't do anything to remove. They didn't stand on their words. In my opinion what happened, they knew that rate is going up and by the time we lock this rate current rate is high than that. They know customer will not back out since current rate is higher and that why they added this extra $1052.

      I put so much time in this and in the end this is what I got. I will accept this if there was any delay from my end. If they are not able to close this loan on time they should have communicated with me. So please I recommend clear this with company before move forward. There are other mortgage companies out there, this is not the only one. I'm sharing my experience, because this cheating is not accepted.

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      3 people found this review helpful
      Rated with 1 starResolution In Progress
      Verified Reviewer
      Original review: Oct. 29, 2019

      They have my $3k escrow after selling my loan months ago. As many have said, my process started out great. Very attentive sales person, worked with me to get the best deal. It all went downhill after that. Took literally months to close after everything was approved. Had closing date and no one showed up. They made excuses that the lawyer told me weren't true. Finally closed. They immediately sold my loan and that was a few months ago. We paid almost $4k in escrow for tax and insurance prepayments. I get a notice from my new bank that my escrow is overdrawn and I need to pay in over $2k. I call them and they say they only received $373.99 in escrow from Guaranteed Loan. I start making calls and get no responses from my loan agent. I talk to the title company and they say they never had the money that Guaranteed Rate does.

      I finally find an 800 number in one of the e-mails for the servicing department. I wait on hold for over 30 minutes and immediately get hung up on. I wait on hold again and finally speak to someone who says they tried to make the tax payment and it was rejected but they have already cut a check to the new bank and it's in the mail. Now over three weeks later and I've directly called the new bank and still no money. I called today and waited on hold for almost an hour again and get another story about rejected payments and that they couldn't cut the check because they were "waiting on the funds to be returned" even though they told me the check was cut weeks ago. This company is dishonest and not trustworthy especially with your money!!!! I still can't get my $3k from them after months!!! I would definitely go elsewhere!

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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 at 773-328-6467.

      - The Customer Success Team

      Be the first one to find this review helpful
      Customer increased Rating by 1 stars!
      Verified Reviewer
      Original review: Oct. 27, 2019

      I've had the same experience as another reviewer here, during the same time frame, so I won't lay out all the details. I got a new mortgage in August. The front end process with Guaranteed Rate Affinity was great. My loan officer was very helpful and responsive. I made two on-time payments over the phone, and then my account was transferred to a subservicer, and none of my payments along with it. I've been getting near daily debt collection notices. I have been calling, emailing, and faxing documents to try to get this fixed to no avail. I also filled a complaint with the CFPB. They had finally applied the payments to my account last week, only to have reversed them on Friday, including the third payment I made to the subservicer. I'm at my wits' end and am likely contacting a lawyer if they have no information for me on Monday.

      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

      Be the first one to find this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: Oct. 25, 2019

      While our experience with the loan officer and getting our loan approved for our home was a good experience, the issue is with the apparent lack of communication involved when our loan was transferred to a different servicing office within the same company. Our first mortgage payment was due on September 1st, which we paid on-time over the phone as well as our second payment that was due on October 1st. At some point in the beginning of October, our loan was transferred to a different Guaranteed Rate office and we received a new mortgage statement in the mail dated October 8th indicating the change. However, the statement claimed that we owed almost $8,000 due to having no record or our first two mortgage payments being made.

      Before getting around to calling in order to find out what the problem was, we received a large packet in the mail dated October 9th from the Loss Mitigation Department with a notice to collect a debt and some sort of hardship application that we could submit if we were having trouble making our mortgage payments. This was obviously not the case as we had already paid our first two payments over the phone, so I called the next business day to make an inquiry as to what went wrong. The customer service representative that I spoke with told me that there was no record of having received any mortgage payments and asked for information of when I made the payments and to which office and then claimed they'd have to investigate to gather information on whether or not the payments were made. My question was "How do you not have a record of my payments when your office is still within the same company?"

      After the first call to request an answer about my payments, I called the office where I made the initial payments and the representative said that they were still in the process of wiring the funds to the new servicing office. My question then was "How does the new office not know that they're waiting for the money to be wired?" Where is the communication between offices confirming that our payments have been made so they don't have to send collection notices? Apparently there isn't any at all.

      Fast forward a couple of days and we receive another notice about the attempt to collect a debt which was dated October 15th and then another mortgage statement Dated October 16th claiming that we still owed almost $8,000 due to the alleged overdue payments. I called Guaranteed Rate again to follow up (which I don't believe I should have to do) and see if our funds had been received, which they hadn't. I was told to just keep calling back every day until the funds are received and applied to our account. After that call, I called customer service and filed a complaint hoping that maybe they'll change this flawed process so others don't have this issue in the future.

      Several days later on the 25 of October, once again my wife and I both received individual notices in the mail dated October 15th with the same collection notice claiming that $1,231.85 in interest and late charges had been added to the original loan amount. At this point we're at the end of our rope and fed up with receiving these notices - six notices within a two-week period without so much as a courtesy email or phone call to determine if there was an issue with making the payments. How can so much effort be put into blaming the customer when the issue is right under your nose within your company?

      I called one more time on October 25th and finally got confirmation that our payments had been received and that our account was current without so much as an apology or explanation as to why we were bombarded with inaccurate statements and collection notices. Even though we know that the payments were made, we shouldn't have the added stress from thinking we might owe more money and receiving collections notices when it's not even our fault. I truly hope that our experience is better from this point forward and hope that something will change so nobody else is subjected to these unnecessary business practices.

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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 at 773-328-6467.

      - The Customer Success Team

      Be the first one to find this review helpful
      Rated with 1 starResolution In Progress
      Verified Reviewer
      Original review: Oct. 23, 2019

      When we originally submitted a credit app the company was very attentive. Keith reaches out to us and I spoke with him for about an hour explaining what we were looking for. We submitted all the documents online and I told Keith my wife and I would take the weekend to discuss and I would reach out to him on Monday. I sent an email Monday and no reply. Tuesday and Wednesday I sent a follow-up asking if/when he’d be contacting us.... No response. My wife called that Friday and left a message.... No reply. Here we are a week later, potentially missing out on our dream home and we have yet to hear back. We decided to move on to a new company that communicates well and we have the process in motion and hopefully will be submitting an offer soon. I don’t know how this company stays in business.

      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

      Be the first one to find 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
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