Guaranteed Rate Mortgage
AUTHORIZED PARTNER

Guaranteed Rate Mortgage

Concord, NC

 4.0/5 (1600 ratings)
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Guaranteed Rate Mortgage

Lock in your rate

Rates are expected to jump after the next Fed meeting

Author picture
Written by Jennifer Schurman
Edited by Sally Jones

About Guaranteed Rate Mortgage

Guaranteed Rate (NMLS #2611) is a mortgage company that operates online and in person. It offers a wide variety of financial products to customers all over the country, including conforming conventional mortgages, nonconforming conventional mortgages, government loans, home renovation loans and home equity lines of credit (HELOCs).

Overall Satisfaction Rating

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  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Available nationwide
  • Offers multiple types of financing
  • Competitive average rates
  • Online application process
  • Gives preapproval decisions in about 15 minutes

Cons

  • Doesn't have physical branches in every state
  • No home equity loans

Bottom Line

Guaranteed Rate is a good option for homeowners looking to refinance or borrowers who want to explore multiple loan options. You can get a personalized rate online without a hard credit check, and you can visit its website or a branch location to apply.

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Aug. 27, 2021

This is a warning for anyone thinking of using Guaranteed Rate for their next home purchase. Our experience with Guaranteed Rate Affinity and Scott ** (Loan Officer) was horrendous. Dealing with our loan officer was like dealing with a used car salesman and he was quite unscrupulous. He was not a trustworthy lender. We were misguided and provided with misinformation multiple times throughout the loan process.

First there is the interest rate. Our loan officer initially provided a great rate for our pre-approval. Then once we found a home, that rate went up but as expected since interest rates slightly increased. He made it very clear to us that if rates went back down we could always renegotiate the rate around closing. Then as the closing date started to come closer and interest rates dipped considerably, I requested that we renegotiate. Scott's team was VERY slow to respond and he was constantly "working" on it. He then got back to us at the 11th hour only to tell us that he was not changing the rate and at this point we were too close to the closing to do anything about it. He purposely dragged his feet until it was too late. I have an 800+ credit score and I was receiving quotes from other lenders half a point less than what Scott was offering. This will end up costing me thousands throughout the life of my loan.

Then there is the discrepancy with closing costs. Two days to closing we were provided with the Closing Disclosure. Although we weren't happy with our rate there was nothing we could do at this point. I just wanted this nightmare to end but it unfortunately continued. The night before the closing we were provided with the final closing costs to only find that we needed to pay several thousands more than what was initially disclosed on the CD. This included large discrepancies with the Title Fees, County Taxes (forgot to include), prepaid interests and initial escrow. All which were available to Scott and his team when he sent the CD two days prior.

Scott did apologize and mentioned that he did a poor job reviewing the CD and didn't notice the discrepancies. If this was the only hiccup, maybe I could understand but it wasn't. I have to say I am extremely upset with the poor communication from Guaranteed Rate, Scott and his team throughout the process. I will never be using him or Guaranteed Rate again in the future and others should think twice before you do as well.

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 17, 2021

I refinanced with GR this year. My first payment was due May 1st and I made it in late April. The check was cashed. June 1st my mortgage was transferred. Only then did I notice they didn’t give me credit for that payment. I provided GR with back of check. It was deposited into “wrong account” at GR. For 5 weeks, I’ve waited for them to give me credit and they still haven’t. I am forced to make an extra payment with my new services until GR figures this out. They’ve had my money for 3 months. Haven’t given me credit yet. They are Crooks & Thieves.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 18, 2021

Guarantee Rate had all of the information a month before closing. On Thursday, they told us everything was ready for our closing on Monday. Then, on Saturday night- they sent an email saying we needed to push closing a week. Thankfully the seller agreed. Then, the night before closing they let us know they could not do the loan because of information about the HOA they had a month ago! Poor communication throughout the entire process.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 1, 2021

We refinanced with Guaranteed Rate at the end of 2020, and our loan officer, Sean was great. That…was the last of the good news. We tried to initiate bi-weekly mortgage payments as we’d done with other loan companies for years, and that was when the pain started. 5 customer service reps ("We didn’t receive your set up fee, we found it, you can’t do biweekly pmts., let me connect you with a supervisor"), and 3 supervisors later ("Your loan is being transferred", "No it’s not", "Why don’t you just add extra funds to your monthly pmt.; it’s easier") and it was still not done. Then we were told 2 months ago that our loan was being transferred to another co. but then it wasn’t, and then last week…it actually was. In fairness, a supervisor named Nina tried to help us, but by then the transfer was in process. We have never experienced such poor customer service in all our years of refinancing. So… all I can say is “buyer beware.”

Guaranteed Rate Mortgage response

Hello,

We are sorry to hear about the experience you had with us. If you haven't already done so, 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: May 11, 2021

I was matched with Chanon ** and received pre-approval pretty quickly. I went under contract on 4/17. Exactly 3 weeks later after 17 unreturned emails and several calls I finally got him on the phone. He had not ordered the appraisal and had not updated a single number on the contract. When I asked if we were going to be approved by closing in 2 weeks he said “not a chance”. When I inquired why this work had not been done his response was “take it easy- I was on vacation”. No out of office reply and the others copied didn’t respond either. I nearly lost my condo because of their total incompetence. Run far away from this company! I’m with Fairway now and they have been amazing!

Guaranteed Rate Mortgage response

Hello,

We are sorry to hear about the experience you had with us. If you haven't already done so, 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

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 11, 2021

I have refinance my home three different times. The third time I refinanced through Guaranteed Rate. Refinancing is always a hassle but Guaranteed Rate took it to a different level. I submitted the application in mid December and immediate got approved. I submitted all of the required documentation and the loan officer scheduled me to close within 20 days. A couple of days before closing, he rescheduled due to being busy.

He rescheduled me to sing closing docs a week later. The public notary came and I signed all of the forms. Later in the month, I noticed that my loan with the previous lender was not paid off. I contacted guaranteed rate and they told me that the underwriting department was busy and the loan did not get approved. After several emails, they rescheduled another public notary to come to my house. I signed all of the docs and the loan finally closed nearly three months later. I WILL NEVER AGAIN DEAL WITH THIS COMPANY.

Guaranteed Rate Mortgage response

Hello,

We are sorry to hear about the experience you had with us. If you haven't already done so, 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

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 5, 2021

We worked with Nick ** at the San Antonio office. We had clearly communicated our timeline, expectations and submitted all required documents from the get go. Instead of reviewing all information carefully and performing due diligence as a professional lender, Nick's team had consistently missed information that we provided. Instead, they repeated asked for the same documents over 3-4 times - this had contributed to significant delays and at this point we had blew past multiple deadlines. Meanwhile, Nick continued to falsely promise timeline that he ended up missing, and instead of showing a sense of urgency, their communication got worse.

We needed to follow up multiple times plus texts to get a one line response which did not answer our actual question. The worst part was that they always had last minute requirements which should had been discovered early on in the process if they reviewed our documents carefully. We asked for their management to step in and expedite, and so far no meaningful action from Guaranteed Rate's part. This is the worst experience we've ever had with a lender, and we cannot help but question their professionalism and competence in handling customer request.

Guaranteed Rate Mortgage response

Hello,

We are sorry to hear about the experience you had with us. If you haven't already done so, 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

8 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: April 29, 2021

I could count on this mortgage company, they did what they said they would when they said they would! Helped me make informed decisions. This company worked quickly, other companies were backed up with too much business-due to low interest rates.

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 6, 2021

Got a mortgage from them - pretty easy- Paid it off just as they were selling me to Chase. Sent Guaranteed the pay off amount. Chase says I owe $281000. Guaranteed says they sent it and it is my problem. Emailed...No answer...Called ...disconnected 4 times. Got someone on the phone and asked them to send back my money... was told they didn't have it but would look into it. Also I have to call them. They will not call me. Run away fast. This company does not care about you.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 12, 2021

I first applied for a refi with Owning.com. Everything seemed to be going well when the loan was to close. I was then told that Owning will become Rate.com. I pretty much had to resubmit all paperwork and refile after I was told by Owning that the loan was to close. I submit all paperwork again to Rate.com. I am told numerous times that the loan will close but never does, they just keep asking for more items. I have an excellent credit rating of over 770. The debt to loan is not even 1/4 of what will be borrowed. I have obtained mortgages in the past and have never been led astray by such incomitance. This ordeal has been going on for over three months. We are done, don't waste your time.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 6, 2021

Guaranteed Rate brands itself with ads on how you can get a mortgage completely via an online process. But just trying making payments online - it went from very difficult - very hard to find the correct URL, etc., although at least it was possible -- to impossible. Mail service now is completely unreliable, so be prepared to get suckered for late fees since either online payments are not possible or it's so extremely difficult to navigate to a payment page. There went 20 minutes of my precious weekend, and now off to the post office hoping my check reaches them before they slap me with a late fee. No longer referring anyone to them!!!!

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 1, 2021

I finally closed on my loan 12/23/20 with Guaranteed Rate.com. First payment was due 2/1/2021. I mailed the payment with a temporary payment coupon they provided on 1/26/21 and it cleared my bank on 2/2/21. The mortgage was sold to Mr. Cooper effective 2/1/21. The new servicer of the loan, Mr. Cooper claims I was late in February because my payment was never sent to the new servicer. I made another payment on 2/19/21 so I would not be reported as late. What can I do? This is the worst mortgage company I have ever dealt with. They pass you around from one ineffective department to the next and the last department said I would have to talk with the original department I started with. Communication is awful and then they constantly request information that was sent previously. The rep who is making a nice commission apologizes profusely and tells you what you want to hear.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 26, 2021

I am a 100% disabled veteran. Because of this, I was granted property tax exemption from the state of MD. I forwarded that message and the accompanying letter to Guaranteed Rate asking for an out of cycle escrow analysis. I was told it would take about 4 days. Since then a tax payment has been made to MD/Anne Arundel County tax assessor, which was subsequently returned, due to my tax exempt status. That was two weeks ago. I’ve talked to numerous customer service agents and almost as many supervisors. These folks have stated “it’s almost complete”, “check back in two days”, and “the supervisors’ computers aren’t working today.” On Tuesday I spoke with a gentleman, that stated he could see everything in the system, recalculated our mortgage and our escrow refund. He said he was going to send us an email to wrap it all up and get us a tracking number on the check through UPS. That email never came.

I called back again and talked with a lady that was not as helpful. She stated there was nothing in the system indicating we were tax exempt, that an analysis had not been completed, and that even when it was, the payment wouldn’t change for two more months. My wife and I waited almost 2 days before calling back again, and were told we would receive a call back after it was "looked into" by senior management, and again, nothing. I have asked numerous questions to which I would get a different answer each time. When I have asked to speak to a senior manager since I had gotten so many different stories from different “supervisors” many of the customer service agents would say they weren't at liberty to disclose that but could submit my info to have a member of management call me back. I said yes. Again, no call came. If I owed them thousands of dollars, they wouldn't hesitate to smash my credit.

11 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 26, 2021

I only wanted to find out current rates for a re-fi. I got notification that my credit was ran. When I sent an email inquiring about it the response I received was, "So sorry about that! I did run it. However, good news is that it will not impact your credit score at all. (YES, IT DID HAVE AN IMPACT) Thanks! And have a great night!"

12 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 23, 2021

I am so frustrated that I cannot easily change a mortgage company. I spent 2 months, over 15 calls defending that I paid my mortgage when THEY were at fault. We were threatened with debt collectors and constant late notices despite being assured we had done everything we needed to. We talked to supervisors and managers, and no one could take care of the issue. When I asked them to make up for the horrible customer service they had shown us, I was told that the only compensation we could get was to not be charged late fees, even though we had never missed a payment or paid late. Scarlet mocked me on the phone and couldn't understand why I was frustrated when her company took my money, then told me I hadn't paid, spent 2 months making me prove I paid, and still didn't fix it in the system. As soon as we can refinance to use a different company, we will

15 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 4, 2021

My problem with Guaranteed Rate began when I decided to apply for the budget plan payment program. First, this company charges a $150.00 non refundable fee. Although I was surprised that there was a fee I paid it and starting on November 2020 I utilized the program. January 22nd they sent me a letter stating that starting on January 15th my loan no longer qualified for this program because they were transferring the loan to Chase effective March 1st. Although the application states the fee is non refundable it does not make it clear that they can take your money and then cancel your eligibility two months later. I find this to be very deceptive and a rip off. They should not be able to steal your money while providing a service for only two months. Beware of utilizing this service as it is deceptive and you can end up spending a lot more than what you thought you would save.

9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 3, 2021

All started with a lot of promises that I would get approved and funded for a loan last April 2020. Selling a home and buying a new one with FHA mortgage lender recommended by my realtor. June signed a contract on a new house. Conditionally approved and provided all the documents but they kept asking for extensions. This went on from initial closing July until Late September where they told me no. Now it's not going to happen. So I had strung out my sellers for months and I found a new lender. Never again to a big company and being a number. Very disappointing.

10 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 11, 2021

I started the process to refinance a second home in May of 2020. I expected the process to take longer due to the number of refi's occurring and Covid-19. Closing was finally scheduled on Dec 31, 2020. Thru this process, Guaranteed Rate communicated sparingly.

Guaranteed Rate Mortgage response

Hello,

Thank you for taking the time to leave a review. We are sorry to hear about the communication issues you experienced, but we appreciate you letting us know as this will be a great coaching opportunity for our Company. Again, we thank you for your feedback.

- The Customer Success Team

8 people found this review helpful
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.

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, but are aware we have taken quick action to get this resolved for you. By now you should have a letter from our Customer Success and Servicing Teams outlining the issue and how it's been corrected.

Thank you,

- The Customer Success Team

9 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.

Guaranteed Rate Mortgage response

Hello,

We are sorry to hear about the experience you had with us, but we thank you for the feedback as this will help better our standards and practices moving forward.

- The Customer Success Team

16 people found this review helpful
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!

Guaranteed Rate Mortgage response

Hello,

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

5 people found 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: **

6 people found 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.

Guaranteed Rate Mortgage response

Hello,

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: 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 **.

Guaranteed Rate Mortgage response

Hello,

Thank you for taking the time to leave a review. We'd like a chance to connect with you and clear up any misunderstandings there might've been. 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

10 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

11 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

8 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

12 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.

18 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.

21 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.

13 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
Website:
www.guaranteedrate.com