Guild Mortgage Company

Guild Mortgage Company

San Diego, CA

 4.0/5 (205 ratings)
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Written by Jennifer Schurman
Edited by Sally Jones

About Guild Mortgage Company

Guild Mortgage (NMLS #3274) is a mortgage lender available to residents in 49 states. The company, founded in 1960, offers many types of loans for purchasing and refinancing, as well as short-term bridge loans, reverse mortgages and down payment assistance. You can apply for a mortgage loan online or by visiting a local branch in 41 states.

Overall Satisfaction Rating

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Pros

  • Wide selection of loan types
  • Lock and Shop program holds rate for 120 days
  • 17-day closing guarantee

Cons

  • Not available in New York
  • No home equity financing available

Bottom Line

Guild Mortgage has loan programs for all types of borrowers. You can start the application process online, over the phone or in person at a branch in 41 states. Guild originates home loans in every state except New York.

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Rated with 5 stars
Verified

Guild made the homebuying pretty easy. They were great to deal with and very patient and available for this first-time homebuyer. I had previously tried to go through my bank. Tha...

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Rated with 4 stars
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The communication between our lender and us was great. He kept us informed every step of the way. Previous companies I've worked with, it was a constant guessing game; no returned...

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Rates

Guild Mortgage does not show rates online. To get rates, you can fill out a form on the website, call Guild directly or search for a local loan officer to contact.

Remember that rates depend on a number of factors — specifically personal and economic ones. Personal factors that affect your rate include credit history, current income, loan type, loan amount, loan term and down payment amount. Economic factors include supply and demand and actions of the Federal Reserve.

Guild Mortgage offers both fixed-rate and adjustable-rate mortgages (ARMs). Fixed rates don’t change over the course of the loan term, while adjustable rates fluctuate according to a benchmark index and a margin set by the lender. Some borrowers prefer a fixed rate because the payment amount never changes. Other borrowers may choose to take advantage of the low introductory rate that comes with an ARM, which lasts five, seven or 10 years.

During the three-year period from 2019 to 2021, Guild’s average home purchase rate was slightly lower than the national average. In 2021, for example, its average rate was 0.12% lower than the national average.

Guild Mortgage Company average home purchase rate vs. national average

YearDifference from national average
2021-0.12%
2020-0.24%
2019-0.12%
Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

You can start the preapproval process online by visiting the “Apply Online” page of Guild Mortgage’s website. The application will ask a few brief questions about your co-borrower (if applicable), the loan type (purchase or refinance), the state where the property is located and the name of the loan officer helping you. If you aren’t yet working with a loan officer, you can select one in your area.

Once you submit this form, a loan officer will reach out to you to gather more information about your income, assets and liabilities. You may be required to upload financial documentation to support your application. Guild Mortgage uses this to verify your eligibility.

Once your application is complete, your loan officer can give you an estimated timeline for an approval decision. After applying, you can lock in your rate for 120 days; a $1,500 fee applies at the time of publishing. Guild has a 17-day closing guarantee; if it fails to close on time, it pays $500 toward your closing costs. There is a list of terms and conditions for both the rate lock and closing guarantee.

Guild Mortgage Company application features

FeaturesAvailability
Online application
Mobile document upload
Physical branches41 states
Publishes minimum rate on websiteX
Rate lock120 days
Pre-qualification (no hard credit pull)
Certified approval letter

Loan types

Guild Mortgage offers many home loan options, including conventional loans (with fixed rates or adjustable rates), jumbo loans and government-backed mortgages like FHA loans, USDA loans and VA loans.

Guild Mortgage also offers specialized loan programs for borrowers who want to renovate their home, upgrade to energy-efficient appliances or purchase a manufactured home. You can also get a bridge loan to put a down payment on a new home before selling your old one. Guild offers reverse mortgages as well.

In 2021, Guild Mortgage had a total of 82,414 home purchase loan applications. Of those applications, about 75% (62,162) turned into closed loans, while roughly 3% (2,323) were denied.

Loan applications for home purchases only by year

202120202019
Home purchase applications82,41485,01877,301
Home purchase loans closed62,16264,32458,868
Home purchase applications denied2,3232,5922,157
Home purchase preapprovals denied228275239
Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

In 2021, about 53% of the loans Guild Mortgage originated were for home purchases. The other 47% were for rate-and-term refinance loans and cash-out refinances.

Many borrowers refinanced in 2020 and 2021 to get a lower interest rate. In fact, nearly one-fourth of homeowners with a mortgage refinanced in 2021, according to a Federal Reserve report. As rates go back up, fewer homeowners are expected to refinance.

Home purchase vs. refinance loans by year

202120202019
Home purchase loans52.57%49.29%69.65%
Refinance loans30.24%33.94%19.21%
Cash-out refinance17.19%16.77%11.13%
Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

Requirements

Guild Mortgage specifies most of its borrower requirements by loan type. For a conventional loan, it requires at least a 620 credit score and a minimum down payment of 3%. FHA loans from Guild require a minimum credit score of 540 and a 3.5% down payment. VA loans and USDA loans are available with 100% financing.

When you first speak with a Guild loan officer, they will assess your needs and financial situation to help you figure out which loan type is right for you, your borrowing costs and how much you can borrow.

National mortgage requirements by type

Min. credit scoreMin. down paymentCompare with other lenders
ConventionalTypically 620Typically 3%Mortgage lenders
FHA5003.5% with 580 credit scoreFHA lenders
VASet by lender (often 580)0%VA lenders
USDASet by lender (often 640)0%USDA lenders

Cost and fees

Guild Mortgage does not disclose specific lender fees online until you apply; it then sends you a Loan Estimate form with estimated costs and fees of the loan. According to Guild, closing costs are typically 2% to 5% of the home value. These costs may include some or all of the following:

  • Origination fee
  • Appraisal fee
  • Discount points
  • Processing fee
  • Title fees
  • Recording fees
  • Property taxes
  • Homeowners insurance

Guild has two guarantees that promise to pay a share of closing costs if it doesn’t follow through. With Credit Approval Protection, if Guild is unable to close on the loan after issuing preliminary credit approval, it pays you up to $1,000 for inspections, appraisals and relocation expenses — and up to $5,000 in lost earnest money. Homebuyer Express promises closing in 17 days or you're reimbursed $500 in closing costs.

FAQ

What is Guild Mortgage Company?

Guild Mortgage is a San Diego-based mortgage lender that has been providing home loans since 1960. It has a comprehensive offering of purchase and refinance loans for homebuyers and owners. Guild became a public company in 2020.

Is Guild Mortgage Company legit?

Guild Mortgage is a legitimate lender with more than six decades of experience in the mortgage industry. In 2021 it originated over 118,000 loans, according to Home Mortgage Disclosure Act data. Guild reported $5.7 billion in loan originations in the second quarter of 2022.

Where is Guild Mortgage Company available?

Guild Mortgage is available in 49 states and Washington, D.C. Its mortgage products are not available in New York. Guild Mortgage has branch locations in 41 states.

Guild Mortgage Company Reviews

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How do I know I can trust these reviews about Guild Mortgage Company?
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  • Our moderators read all reviews to verify quality and helpfulness.

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Page 1 Reviews 0 - 10
Rated with 5 stars
Verified Reviewer
Original review: Oct. 28, 2022

Just bought our first house with help of these wonderful people! Due to not very high credit score we were rejected by few different lenders and were pretty upset and frustrated, till Guild gave us a chance. Everything since was nice and smooth, they managed to deal with me (and I'm a difficult customer!), deal with not good at all realtor, deal with financing obstacles. They were very patient, kind and professional. Only thanks to Guild we are house owners now! I will never be tired of complimenting them and recommending to everyone as a company, that does not sort people into classes and gives everyone hope to purchase they dream home! We are happy with rates, terms, conditions and only feel gratitude. Thank you Guild, thank you, Jason, Alexa and Liz! God bless!

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Rated with 1 star
Verified Reviewer
Original review: Aug. 2, 2022

We have been with Guild since Jan 2017. We should have known better when it took 5 months to close because they mixed us up with the other people buying our house! Kept saying we did not have our information sent in. It was the other family that did not. Now fast forward 5 years and they make it impossible to pay your mortgage! Paid at 5 pm Eastern time zone. Not only did the payment not post. They never took it out then charged us for not having enough funds which was not true.

I have ending balance proof that the funds were there. We have faxed the paperwork for this company to speak with me as I am on the deed but not the loan, they do not honor that paperwork and just generally make it impossible to handle any situation. We never deferred our payments since Covid started and did not do any mortgage relief this whole time! It honestly feels like they are trying to push us into foreclosure to resell our home at the price that it is now worth! Over 250k in equity right now! DO NOT USE THIS COMPANY. YOU WILL REGRET IT!

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    Rated with 1 star
    Verified Reviewer
    Original review: July 21, 2022

    I contacted Guild in May and request a 180 quote for a 30 year fixed rate conforming new loan. I lock a 5.7 % with a float down. I gave them $3200 for the lock which could be applied to the loan costs or used as buy down. I later discovered I wanted to switch to a 30 year fixed jumbo. I contacted them June 22nd to request the change in product and to lock a 60 day rate. 10 emails and 20 phone calls later, I get one call July 21st saying Someone's in a meeting and someone's home with a cold and someone will contact me tomorrow. Sign on the email says RATED # 1 by JD Powell. I just lost all respect for JD Powell. Oh, and Guild Mortgage. I could close in as little as 30 days, but it looks like it will need to be with a different company because of someone. It appears I will lose the $3200 bucks, but at least I won't lose the $968,067.82 House.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 16, 2022

    I have purchased 5 other homes in my lifetime. We have moved around a lot. Guild Mortgage has been by far the worst company I have worked with. We are now in week six of trying to close my loan. They sent me 3 emails this morning, some from people I have never heard of, telling me they changed my loan type, needed an addendum form and they were changing my closing date from TOMORROW to several days later.

    They still six weeks in have no final numbers for me. They originally quoted 20k to close, then 17,500 to close. Their last estimate TODAY, one day prior to closing was 23800!! Very unprofessional team. Not only is there no internal communication, but one would think that a change in loan type and terms would at the very least, warrant an actual phone call versus a bombardment of emails. We also paid an extra $350 to get the appraisal sooner so we could close tomorrow, but that was money wasted and with no offer to credit it back. I have excellent credit and have been treated like a criminal with all the background information I have had to explain. When I filled out the application, one of their questions was...do you currently own any property. I answered no. They have gone back all the way to 2006 and made me explain and answer for nearly every house I owned or rented and state I do not own any portion of them. This is even after I answered their initial question with a NO, I do not own property!

    If we were not so far along in this process I would have switched companies and if we don't close Monday, I will take it that this is not the right house and will start over with a different lender. I feel like they have pulled an FBI report and are going through my whole life with a fine tooth comb! This is ridiculous! I understand wanting credible borrowers, but they have had me jumping through hoops for 6 weeks, we still are not closed and I received another phone call asking about a house I owned in 2005 just this morning. My conclusion is RUN!!! STAY FAR AWAY from this company!!!

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 3, 2022

    I do not even want to give them one star! This was the absolute worse experience ever! Cheryl ** is the most incompetent, arrogant person to deal with. My son was purchasing his first house and it was a nightmare from the get go. They would tell him that everything was great and then they would say sorry you don't qualify and then he would get the information they wanted and it would be great and then not. The fees changed, the rate changed, it was a nightmare. This went on for 2 months or more. When I called her to complain the only thing she said to me was "We have a great reputation. And you won't find anyone else that can finance your property." Really??? Guess what, if I have anything to do with it you won't have a great reputation and we DID find someone to finance the property. At a great rate, great loan and the most EXCEPTIONAL Customer Service ever!!! Maybe you should get a page from their book.

    Guild Mortgage Company response

    Hi Anne. My name's Ryan and I monitor these reviews. I'm sorry to hear you had a negative experience. If there's anything I can do to help, like look into your situation or escalate this feedback, please email me at rwalsh@guildmortgage.net with the name of the loan officer (it's removed here).

    Be the first one to find this review helpful
    Rated with 2 stars
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    Verified Reviewer
    Original review: Feb. 15, 2022

    Four years ago Guild was notified I had been awarded the house in a divorce and to remove my ex-wife from the mortgage. They still have not done so. I am sitting here with escrow refund check that cannot be cashed because my ex wife's name is on the check. They did admit they received a copy of the divorce decree four years ago. Glad I refinanced with another company.

    Guild Mortgage Company response

    Hi Darrel. Do you still need help? I can make sure your request gets to the right person. Let me know if there's anything I can do, please. My email is rwalsh@guildmortgage.net.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 31, 2021

    My husband and I had this company in az. I remember there were problems yrs back but they were eventually corrected. My husband and I moved to a different state. While we are getting settling I'm the only one working so my husband was doing most of the leg work. Since we were prior client Alan claimed he help us "fast track" the loan. Alan never consulted with me on any big changes. My husband and I agreed on money for the house and money for rebuilding our lives. The first five minutes of the first conversation Alan threatened the house we were buying and insulted me. Claiming my past job weren't up to his imaginary standards. Clearly that's upsetting so I told my husband to take the phone.

    The last straw was when I got another request for more money to "fast track" the appraisal. I asked Alan ** to call me back. Alan didn't call me. He called my husband four times. Then I had to massage him to call me. Clearly he either hates me or hates women. I said I wasn't going to pay the fast track fee and I wanted an explanation to why they had now claimed all of our savings. He flat out denied knowing about the "fast track" fee. He placed me on hold and oddly that was the only thing he was sorry about. Just not enough to change the price before closing. Funny thing is I never approved the extra $150. P.S. It took almost two months to close this loan and I just one person being considered. ($600 for an appraisal. Yo did you hire Ray **? He missed that giant hole in the house. We found it because of that huge draft. $600 wasted for a criminal.)

    12/30 huge hole in a water pipe. Huh missed that on the inspection paperwork. Seems odd too nobody's can find it be the inspector can't. Alan was also advised it might be who of him to list contractors he works with so we didn't just think they were solicitors and junks mail. He abruptly cut me off in that conversation. He's 4000 miles away from where we live, but Alan will rewrite history as if he was standing in the living room with you. He was then annoyed I was sending him my paycheck stubs as requested because he was "no longer" counting my "little weekend job". When we were trying to get our income to debt ratio where it needed to be. I called Alan to see what we needed to pay off. He called my husband but not me. Then denies ever getting the call.

    Alan fast track nothing stole all of our savings and for what? You would have thought we were asking for a ** ton of money. With all he put us through $116,000 was the loan amount. Those jobs Alan thought so little of. Well he did his hardest to get me fire. Alan had a letter, paycheck stub and verbal confirmation I worked there. We were going to sign on a Friday. They were blowing up the phone on a half day getting someone to again verify I worked there. They were even harassing me at my job. My boss had take the call on her day off. Idk if this company is just too big or incompetent, but you're double and tripling work because they can just read their own files. They verified my car was paid off twice.

    Alan somehow managed to missed the insurance on the house. Our insurance had to call him weeks after we'd signed. He claimed he was sending a survey of how they did, but I didn't get that either. Shocker. I wish we'd listen to the real estate agents out here that advised us to find another lender. I don't care how much work a mortgage company would put me through in the future. I would never work with Alan **, his staff, or his company. You would have thought it was their first ever mortgage. So sad you feel the need to treat people with such contempt. Alan you need to work your anger out in a more constructive way.

    I'd like to pay the mortgage in advance, but I don't have a bill or any usable information to pay it with. Another shocker. Good luck file a complaint. Nobody in the company knows anything other than "I'm sorry," verifying who you are, knowing their days off and writing email. They never adhere to their 48 hr policies. Conrad states he's working on it, but you get mad enough and all of a sudden Irene says, "You need to email a complaint. We didn't know about this." Now it the holidays and they can't help even though this started 12/14. I was told I can refinance, but why. How about you clean up you mess. I asked that Alan not contact me on 12/14 that weekend. He sent me several emails like there wasn't a problem.

    Guild Mortgage Company response

    Hi Youda. I'm sorry to hear that you had a negative experience. If there's anything I can help with, like looking into this further, please email me with your loan number and loan officer name (the last name is removed here). My email is rwalsh@guildmortgage.net.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 16, 2021

    I've had my fixed-rate loan with this company for a couple of years. Recently, I was sent a statement demanding that I pay $410 more per month (for twelve months). My taxes and insurance did not go up. When I called to straighten out the matter I was pretty much told that they would not review the case. I had to make 12 phones calls and consult with an attorney in order to get the mistake straightened out. Even then, they (Guild) still wanted me to pay significantly more per month. This is what people refer to as an "escrow nightmare". Keep in mind that my insurance and taxes did not go up and I was never late with a payment. In the end the only solution was to drop escrow because Guild would not admit that their calculations were wrong...DON'T USE THIS COMPANY.

    Guild Mortgage Company response

    Hi Rebecca. My name is Ryan and I monitor these online reviews. If you'd like me to look into this further or if there's anything I can do to help, please email me at rwalsh@guildmortgage.net.

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

    We recently moved from NY to SC & were in the process of buying a new home. We were referred by our realtor to Brent ** at Guild Mortgage & it was a horrible experience. He loves to send video messages of himself talking but not addressing any questions we had. My husband was supposed to be on the mortgage & we were told we had stipulations to take care of prior to closing on the house. The stipulations changed but Brent never notified us & we took care of items that didn't need to be done, which was not only an inconvenience & a waste of our time, but also a waste of our financial resources. Then Brent removed my husband as a borrower from the mortgage but didn't communicate this with us. Then 3 days prior to closing, he strong-armed us into signing a closing document that was inaccurate. He gave us his "word" that the document would be revised the next day but 2 days later it wasn't rectified.

    I had text messages to him from months ago asking what the closing costs would be & when the costs were different from what he told me months ago, I naturally had questions. However, he didn't have clear or valid answers & is completely untrustworthy. Google dishonest car-salesman & Brent is your man. I would NEVER recommend Brent to anyone in the home-buying process. And since Brent is an employee of Guild Mortgage, I therefore have to steer you clear from Guild also. If this employee is the face of this company, it is an organization you should avoid. With the amount of money we were borrowing from Guild Mortgage, I would have expected better treatment. But clearly we are just another number.

    Guild Mortgage Company response
    Hi Alexis,

    I'm sorry to hear you had a negative experience. If there's anything I can do to help, or if you'd like me to escalate this, please email me at rwalsh@guildmortgage.net with the name of this loan officer and your loan number. -Ryan

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

    I have been trying to contact this company to find out where do I make my second mortgage payment and no one has responded back. I did my closing June 29th 2021. They said at closing make 1st payment to Guild Mortgage but the 2nd payment wait to receive a letter with instructions. Never received it.. So unprofessional .. I've emailed Amy ** the underwriter and no response yet and that was 10 days ago... Run. They don't reach back to customers and this is all new to me..

    Guild Mortgage Company response

    Hello. My name is Ryan and I monitor these online reviews. If you can please email me at rwalsh@guildmortgage.net with your loan number and the underwriter's name (I'm unable to see it here), I'll try and help sort this out for you.

    6 people found this review helpful
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    ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page. Specific sources for this article include:
    1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed Sept. 12, 2022.
    2. Federal Reserve, “Economic Well-Being ofU.S. Households in 2021.” Accessed Aug. 26, 2022.

    Guild Mortgage Company Company Information

    Company Name:
    Guild Mortgage Company
    Company Type:
    Private
    Year Founded:
    1960
    Address:
    5898 Copley Drive
    City:
    San Diego
    State/Province:
    CA
    Postal Code:
    92111
    Country:
    United States
    Website:
    www.guildmortgage.com