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With the Income You Need to Buy a Median-Priced Home rising - you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

With the Income You Need to Buy a Median-Priced Home rising - you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

Guaranteed Rate Mortgage Review 2022

Established 2000

3940 N. Ravenswood Chicago, IL 60613

NMLS #2611


Summary:

Guaranteed Rate offers a digital mortgage experience while also giving customers the option to visit their retail locations so they can complete their mortgage process in a manner they prefer. Their site also provides several educational resources like calculators and articles to help consumers educate themselves on multiple mortgage topics.

Good Fit For:

Customers looking for options. Guaranteed Rate offer a variety of products, full or partial online application steps, and brick and mortar retail locations.


Highlights:

  • Applications usually only take 10-15 minutes
  • Nationwide lender available in all 50 states and Washington D.C.
  • Offers a variety of educational material and calculator tools

Things to keep in mind:

  • No home equity or HELOC
  • Some credit requirements are higher than other lenders

Products:

Purchase Options

  • Conventional
  • FHA
  • VA
  • Jumbo
  • Interest-only

Refinance Options

  • Rate and Term
  • Cash-out

Customer Experience

Guaranteed Rate is a Chicago-based mortgage lender offering mortgage products in all 50 states and Washington D.C. Their digital mortgage application can be completed in about 15 minutes and they provide you with a secure portal for uploading your documents. Their website has a variety of articles covering a number of topics regarding the mortgage process and they even have calculators to help you better understand your unique situation. They have locations spread across the country so there’s a possibility you’ll have one near you if you prefer a face-to-face experience.

Guaranteed Rate displays their current rates on their website and they can be competitive, but that’s only if you qualify. Of course, it’s important to remember that mortgage rates can vary from person to person based on credit history, property information, and loan products.

They have a large selection of products including 15/30 year Fixed Rate Mortgages, 5/7/10 Adjustable Rate Mortgages, Jumbo loans, FHA and VA loans, Rate and Term refinance, and Cash Out refinance. They do not offer Home Equity or Home Equity Line of Credit (HELOC) products.


Scores:

  • Reviewer
    Rating
  • A-
  • [ 4.0/ 5]
  • [ 4.0/ 5]
  • [ 4.5/ 5]
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