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Guaranteed Rate Mortgage

Concord, NC

Guaranteed Rate Mortgage
Overall Satisfaction Rating 3.38/5
  • 5 stars
    28
  • 4 stars
    44
  • 3 stars
    31
  • 2 stars
    4
  • 1 stars
    33
Based on 140 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 at what they do.

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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.?
    • 2,472,940 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
    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.

    2 people found this review helpful
    Rated with 1 star
    profile pic of the author
    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.

    8 people found this review helpful

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      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.

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

      I didn’t shop around for a lender when choosing to purchase my home. I went with Guaranteed Rate because a friend of mine is a loan officer there. I have been a mortgage underwriter for over 10 years so I knew what to expect when applying. I paid everything that was asked of me right away and sent my docs in the day I sent my contact in. I already knew what my underwriter would need from me. It’s been over 3 weeks and I haven’t heard a word or gotten a conditional approval. I am closing in 8 days. I am supposed to do a simultaneous closing. My buyer picked a lender that got him approved and clear to close in 2 weeks. I am panicking... myself and my 3 kids will have nowhere to live. I am more than qualified for the loan. I don’t understand what the hold up is.

      When my LOs manager called me he 1. Told me I should be grateful he called because he was on vacation and 2. If I don’t like how things are going I can take my docs and go try and get approved elsewhere.... I’m not exaggerating.. Verbatim. I am at a loss. I have reached out to his manager and I am hoping he can help. To make matters worse my husband is active duty military. I can’t believe they can do this to people.... There are lenders out there that care and will make sure you close on time, communicate and will provide great service. This whole process has been a nightmare.

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

      If there were an option to give 0 stars I would have selected that. This has been the worst experience I have ever encountered with a mortgage company. It was a struggle every step of the way. We had to badger the lending officer to respond to our requests ultimately leading to a need to push our closing to a future date. This same lending officer asked us to sign a loan application with incorrect information while communicating over the phone that this would be adjusted pre-closing based on our request during the call to remove the points from the loan. Negligently failing to include terms in the loan agreement that were agreed to verbally. Once we saw the official closing disclosure, 3 days prior to closing, we noticed the change had not been made.

      We frantically tried to get a hold of the loan officer who did not return our calls or emails until 9pm at which time he emailed confirming he would lower the loan by 1 point with an exception. The following day this was not honored nor was an explanation given as to why. Negligently making false representations in order to induce us into signing a document we were not comfortable with. We escalated the issue to his manager who informed us that WE were liars and that there was nothing he was willing to do to help. We copied the CEO, Victor Ciardelli who was also not responsive. Unfortunately we could not get a response from him or his manager and we needed to make a decision about purchasing the property. Now we are out $7,000 dollars because of this incompetence and neglect. We have filed a complaint with the CFPB and advice any AGAINST engaging with this company for any reason.

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

      I got shuffled around to 5 different people. The first one was understandable but then I just wanted one point of contact and that seemed to difficult for them. The person in charge then left the company part way through my process? No one called or bothered to follow up. Just terrible service.

      7 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 20, 2020

      For starters, the communication by Gabe **, the lender was beyond horrible. If I knew that I could have picked my own lender company I would have and most certainly read and adhered to the reviews listed here. The reviews are nothing but the truth. I was denied the loan, the same day as I was supposed to get the keys. There were 3 lenders working on my case the same time, yet none of them communicated on what had already been submitted by me, no one returns emails or calls in a timely manner.

      Overall, I was denied the loan due to being on FMLA and not having an income for 3 weeks, spite me having two jobs and a spouse that has an income as well. Also the fact that they knew MONTHS ahead of time that I would be out those 3 weeks with no pay. On top of that the lender never called and said we were not approved, we learned from the realtors via TEXT message. Negligence on top of negligence and just all around poor customer service. Unfortunately I have to give them a one star...not even deserving of. Please avoid and stay away from this company and trust the reviews!

      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

      9 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 18, 2020

      I find it hard to believe that others were approved and cleared as quickly as they state. Not only have we been shuffled aside for months at a time (we qualify, the property qualifies) but the incentive to GR is huge, as we were hoping to refi 2 mortgages with them. They had to stop the first application due to the length of time without writing the paper, and I’m certain the same thing will happen again. I’ve been understanding and patient as I feel this is a young company. However, you get to a point were you Just want to pull your hair out and walk away. Would I advise doing business with GR? Sure, if you like exercises in futility.

      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

      9 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 16, 2020

      Steer clear. I have an excellent credit rating and enough money to cover my mortgage. It took three months for approval of my loan and when it was approved, the cost was about $7,000 higher than the estimate. When I emailed, they wouldn't respond and would give a quick call - I really think they didn't want their shady dealings in writing. I canceled the process and never heard from the senior loan officer. Maybe most people look at the rate and don't care about being screwed over on the closing costs. Guess that's how they get their business. They could care less about you and are just looking to churn through refinances.

      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

      16 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 16, 2020

      Clearly there is an issue with the mortgage originators and the team that processes the loans. Originator states one thing yet the processors either ignore the required changes that need to be made on the loan documents or don’t agree which made me suspicious. I am not saying they had malicious intent but completely lost confidence in this company. I grew so frustrated I backed out and withdrew and paid the home inspection fee just shy of $500 just to put an end to it. I don’t think I should of had to pay it since I would of gone forward and closed if they could of just got on the same page. Too busy to deal with it and since I verbally agreed to pay the inspection I honored it just to put an end to it. It was actually a relief. I really like the concept of refinancing 100% online but I am just going deal with a brick and mortar bank after this experience.

      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
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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