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Guaranteed Rate Mortgage

Concord, NC

Guaranteed Rate Mortgage
Overall Satisfaction Rating 1.70/5
  • 5 stars
    4
  • 4 stars
    2
  • 3 stars
    2
  • 2 stars
    3
  • 1 stars
    30
Based on 41 ratings submitted in the last year
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    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 3 Reviews 21 - 30
        Rated with 1 star
        profile pic of the author
        Verified Reviewer
        Original review: Sept. 19, 2019

        I HIGHLY discourage anyone from working with Guaranteed Rate. Our process has been rife with bad information, tons of delays, complete unresponsiveness from their staff, and we still have yet to close on our home. Cannot get a straight answer, or any answer at all. This company has put our entire buying process in jeopardy, all while writing 'commitment to lend' letters and assuring us early on how easy the process will be. Do yourself a favor and avoid this group.

        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

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

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

        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

        12 people found this review helpful
        Are you this business?
        Rated with 1 star
        Verified Reviewer
        Original review: Sept. 10, 2019

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

        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

        7 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: Aug. 23, 2019

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

        Guaranteed Rate Mortgage response

        Hello,

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

        - The Customer Success Team

        8 people found this review helpful
        Rated with 1 star
        profile pic of the author
        Verified Reviewer
        Original review: Aug. 14, 2019

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

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

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

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

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

        Read full review
        Guaranteed Rate Mortgage response

        Hello,

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

        - The Customer Success Team

        5 people found this review helpful
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        Customer increased Rating by 4 stars!
        Verified Reviewer
        Original review: Aug. 13, 2019

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

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

        Read full review
        6 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: Aug. 6, 2019

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

        Guaranteed Rate Mortgage response

        Hello,

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

        - The Customer Success Team

        5 people found this review helpful
        Rated with 1 star
        Verified Reviewer Verified Buyer
        Original review: July 30, 2019

        Eric Schmidt and Guaranteed Rate are con artists. They sell you a dream of home ownership. Have you sign up for their "recommended" credit repair and sell you trade lines that don't exist. I am working with a new lender and am having to do things that wasn't even mentioned by Mr. Schmidt. I was looking to buy a home or at the very minimum figure out where I am as far as my credit so that I could purchase a home in the future. Guaranteed Rate and Eric Schmidt lied and ruined that experience for me.

        Instead of advising me that I needed to pay some things off in order to get where I needed to be he insisted that I sign up for credit repair that was $80 a month and also for a trade line to boost my score up so that I would qualify for first time home buyer grants. They had me find a home, but down an earnest deposit (that I lost), and I moved in with family for 4 months in an attempt to save money. Run don't walk away from this company and make as much noise as you can in your community. They are predatory lenders. I am not stopping here either. I have written my county commissioner as well. You ought to be ashamed!!!!

        Read full review
        Guaranteed Rate Mortgage response

        Hi Deleria,

        We have responded to and addressed your complaint

        If you have any other questions, please contact the Customer Success Department at 773-328-6467

        Thank you,

        6 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: July 30, 2019

        I would give them zero stars if I could. I used Guaranteed Rate and Brian Griffin in Myrtle Beach, SC because they were a preferred lender for Riptide who was building my house. Trust me when I say the $1500 credit was not worth the hassle of dealing with this company. First, Brian Griffin will tell you anything he thinks you want to hear just to get the loan. Once he has you, you are forgotten. Know this - you are just a number to them. I have had five home mortgages in the past and this was hands down the worst experience.

        I had to upload my documents several times to their online system. I don't think they even look at or acknowledge your paperwork until the last minute, and then they are in a rush to get their act together to make the closing date. I had no issues with my loan and they still were not ready for closing until one hour before we sat at the table. It was extremely frustrating to work with them. The office staff does not answer the phone. You are on your own here. I called and I left messages that went unanswered. This happened so much that I was ready to drop this company and go with another mortgage company but we were too late in the process and I would likely have been penalized. In the end, I had to call Brian Griffin and get him to tell his staff to answer the phone. That happened once, then the same behavior continued.

        Next, I did not want my loan to be in escrow. No need for it with the amount we put down. Brian Griffin stated that I probably had a better rate having the escrow, then stated "just wait a month or two after closing and call and take your mortgage out of escrow...no problem." Well that won't happen for two years and I'm stuck with this loan configuration because 2 years is the company standard. You would think that Brian Griffin would know this fact - I suspect he just wanted an easy process for himself instead of serving his customer what they wanted. I'm so mad I will probably take the hit and refinance just to get away from this company. I put this partly on myself because I listened to this joker even after I started seeing through his charade.

        Next - we get to the settlement table and the deed is wrong. We "finished strong" right Brian? We wait while the lawyer calls Brian Griffin and his office and of course they don't answer and they don't call back. We had to do a quit claim deed at the settlement table because of these clowns. I refused to pay for it - the lawyer stepped up and paid for it out of his pocket. I'll add that doing day to day business with this company is no fun either. If you go with them Good Luck to you. I wouldn't, I would run the other way.

        Read full review
        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

        8 people found this review helpful
        Rated with 1 star
        Verified Reviewer
        Original review: July 28, 2019

        Guaranteed Rate has no shame in misleading veterans, minorities, and their families. They prequalified us and assured us of closing a home after we did everything he asked of us during our application process, encouraged us to sell our then-current home and move cross-country with our little children, and then failed to secure the loan, costing us thousands of dollars and living out of hotels as we now struggle to recover from our devastating financial and personal losses. We will continue to share our experiences—the lies, the scam, the insensitivity to the real world consequences of their actions—until this company is held accountable for its actions that have left two families, i.e. not just us, but also a good family of sellers who upended their lives by relying on those misrepresentations.

        Perhaps they can create a paper trail to cover themselves legally; or cite a stretch of 11th hour scrambles to suggest a good faith effort to figure it all out. But the facts that matter remain unchanged and unaffected: they told us to sell our home and move cross country with the assurance of sealing the deal—telling me to pick an early closing date—and left us high and dry at the last minute—fully aware that there were little children involved who now have no place to call ‘home.’ And then to add insult to injury, they offered us an opportunity through one of their employees to rent a home that was available through their family member!

        Let that sink in: you cause our family to give up our existing home, then we lose the home you assured that you could get us, even though we can bring 10% in down payment for a VA loan where 90% of borrowers bring nothing for a down payment, you continue causing us to lose thousands of dollars in storage of trucks of household items and the emotional distress of having to figure out how to settle down with many little children holed up in hotels after enduring a 6-state drive—and after relying on your misrepresentations, you think that family would want to RENT and pay someone else’s mortgage who has personal ties to your team members upon your recommendation?! It’s offensive; and exposes how out of touch this company is, and at the very least, how it would be well served by incorporating some cultural competency training into its team members’ professional development services.

        Their conduct was the most unconscionable and egregious violation of basic human decency that transcends the formalities of professional ethical or legal obligations. It’s wrong. It’s disgusting. And it merits the public backlash that may inspire good people, better people who want to truly help and work with couples who want nothing more than to provide for their children and be upright citizens that contribute to the well being of our society. They are truly worthy of their preferred moniker of being “Disruptors” because the disruption they have caused our family is unparalleled—my wife and I will never forget the tears and wails of our children holed up in hotels after enduring a cross country drive through six states to be left without a home to live in.

        There is no formal statement that your marketing or PR folks can craft, or rewriting of history that your legal counsel may conjure, or other gratuitous effort that can right this wrong—If you did not tell us to move and prepare for a closing by a specific date that you cited with the assurance of sealing the deal, none of us would be in this predicament. This company has no qualms about slapping its name on a baseball stadium, but doesn’t have the courage to go to bat for the people who served and make up the fabric of this nation.

        Apologize to the sellers and own up to your mistakes. Apologize to the veteran who deserves to be treated with basic human dignity and respect after serving this nation. Apologize to the children who you have left without a home. Apologize to the public for not living up to your values. And after you have concluded your apology tour, regroup and prepare for the formalities of forthcoming investigations of violations of professional ethics by the appropriate federal or state governing bodies, reports to IFDHR, possible action for mortgage lending fraud, and any other forums where other victims may find solace in taking measures to ensure that this never happens again to another veteran or family.

        Read full review
        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

        7 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

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