2021 Guaranteed Rate Mortgage Review
The minimum credit score and down payment are for compliant mortgages.
Overall rating of the lender
Advantages and disadvantages
Guaranteed rate mortgage rates
Guaranteed rate publishes mortgage rate examples online, as well as information like national average rates for comparison and other expenses to consider when budgeting for a home.
These sampling rates are, however, based on certain assumptions, including a state of residence and a credit rating. You cannot tailor the details to your personal information to view a personalized rate online. You will need to contact the lender or fill out a form.
Guaranteed rate mortgage rates are competitive with national averages right now, so you could get a good rate.
Comparison of the guaranteed rate
We compared the guaranteed rate to two other lenders that operate in all 50 US states: Rocket Mortgage and Fairway Independent Mortgage Corporation.
You will need to use the secured rate or the fairway for a USDA mortgage. The Guaranteed Rate also offers interest-only mortgages, and Fairway offers reverse mortgages and home improvement loans.
You may also like the guaranteed rate or the fairway if you don’t have a credit score. Both accept alternative credit data, like proof that you pay your bills on time, instead of a credit score. Fairway can even accept this data if your credit score is low. However, Rocket Mortgage requires a credit score.
You might like Rocket Mortgage if customer service is a top priority. Rocket Mortgage ranked as the # 1 lender for JD Power customer satisfaction for 11 consecutive years.
How Guaranteed Rate Mortgages Work
Guaranteed rate is an online lender that offers mortgages in all 50 US states and Washington, DC. You can get the following types of home loans from the guaranteed rate:
You can do regular rate and term refinancing or cash flow refinancing.
If you don’t have a credit score, you can view other guaranteed rate financial data for mortgage approval. However, the lender does not consider alternative data if you already have a score.
Contact customer service Monday through Friday. The exact times vary depending on whether you’re calling for a new home purchase, an existing loan, or some other reason.
Is the guaranteed rate trustworthy?
The Better Business Bureau gives a guaranteed rate a A- in reliability. A high BBB score indicates that a business responds effectively to customer complaints, is transparent about business practices, and advertises honestly.
The BBB gives the guaranteed rate an A- rather than an A + because the government has taken action against the lender.
The guaranteed rate is pay $ 15 million to the government. A former employee claimed that the lender pressured underwriters to lie in order for the government to insure FHA and VA loans. The Justice Department said that the lender attempted to put an end to these illegal practices even before the federal investigation began.
Mortgage and refinancing rates by state
Check out the latest rates for your state at the links below.
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