Guaranteed Rate Reviews – What You Need to Know! (Mortgage, Complaints & Review)

Guaranteed Rate Reviews

Are you currently reading through Guaranteed Rate reviews? Perhaps you’re in the market for a new house or are just starting to dip your feet in the water.

Here, at AdvisoryHQ, we have reviewed countless mortgage companies. Often, mortgage reviews only highlight the negative aspects of companies.

This isn’t because mortgage companies are necessarily bad and certainly not because getting a mortgage is a bad idea. Instead, it’s because customers usually only post reviews when they’ve had a bad experience. However, that’s not the case with Guaranteed Rate reviews!

Then it comes to reviews from both consumers and professionals, Guaranteed Rate is one of the better performers out there. If you’re in the market for a mortgage, than Guaranteed Rate certainly deserves a look.

We’ll go over the details in the rest of this article, but it’s safe to say that the Guaranteed Rate mortgage reviews we have found have been among the more positive ones found on the Internet.

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It should be noted that it is possible for companies to rig reviews. However, the Guaranteed Rate reviews that AdvisoryHQ examined do not show evidence of manipulation. Usually, even if a company is trying to manipulate reviews, there will be both a lot of positive and negative reviews.

With Guarantee Rate mortgage reviews, the overwhelming majority was positive.

About Guaranteed Rate Mortgages

Key Points:

Guaranteedmortgage.com offers competitive mortgage rates.
Most mortgages are relatively similar, but you should always read the fine print.

Guaranteed Rate is a digital mortgage lender. This means that basically everything is handled online. You won’t have to swing into a branch office. Among other things, Guaranteedrate.com will provide you with free credit score reports, a real approval from Freddie Mac or Fannie Mae, and will allow you to upload your signature (no faxes or mail!).

Many mortgages these days are relatively similar to one another. This is due to the regulatory environment, which sets certain basic standards for mortgages. That being said, you should still always show caution when signing up for a mortgage, even when signing up with very reputable companies like guaranteedrate.com.

*Please note that this mortgage rate review was provided by guaranteedrate.com

According to the above data, Guaranteed Rate offers competitive mortgage rates. This is no surprise – mortgage companies are generally quite competitive with one another. It should be noted that these rates will vary from applicant to applicant and market to market.

Further, Guaranteedrate.com offers the lowest fees, which is something applicants should keep in mind. As you can see, fees can easily cost over a thousand dollars. When applying for mortgages, you should keep these fees in mind.

Finally, it’s important to understand that even small differences in interest rates, like 0.25%, can add up over time. Make sure you keep the total costs in mind when applying for a mortgage.

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What Pro Guarantee Rate Reviews Have to Say

According to the Scotsman Guide’s guaranteedrate.com review, the company was ranked number 3 in the country. Despite not holding the number one position, coming in the top ten, let alone top five, out of dozens of companies is certainly something to be proud of.

We should also note that guaranteedrate.com has closed more than $15 billion dollars worth of loans. While there are bigger companies out there, $15 billion is no small number. Large size can provide stability and peace of mind.

Also, we should note that, over the past few years, guaranteedrate.com has been found to be among the top ten fastest-growing mortgage companies. Maintaining such growth is very difficult for companies that are cutting corners and providing bad service. That helps explain all of the positive Guaranteed Rate reviews we found.

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Summing up Guaranteed Rate Reviews

Key Points:

Most Guaranteed Rate reviews were very positive.
Customers claim that the service was quick and friendly.
Guaranteed Rate is great for self-employed people.

As we have already mentioned, Guaranteed Rate reviews have fared better than many mortgage companies. The company is BBB-accredited and scores a rating of 4.1 out of 5 on the Better Business Bureau website. JPMorgan Chase, on the other hand, scores only 1.1 and Bank of America scores 3.8.

On Consumer Affairs, however, Bank of America scores only 1.1 out of 5, with Chase scoring the same. Guaranteed Rate reviews scored a solid 2.8 out of 5 on Consumer Affairs. This may not seem particularly high, but it’s important to remember that Consumer Affairs is largely a complaint website. Few mortgage companies, quite frankly, score any higher, and many score lower.

Most of the most positive reviews mentioned the loan officers rather than the company. This is a great sign because top-notch loan officers can go a long way in ensuring that your overall experience is much better. Finding a good loan officer should be a top priority for anyone looking to get a mortgage.

Another highlighted area for Guaranteed Rate reviews was the online portal and management system.

This system is extremely important because it’s going to be how you end up paying many of your bills and handling other things, such as a customer service inquiry.

It is easy to overlook the importance of a good customer portal, but don’t! Check out what this Guaranteed Rate review had to say:

Lending Tree, a site that aggregates reviews specifically for mortgage companies, is also very positive when it comes to guarnteedrate.com reviews.

Among the many compliments was the claim that Guaranteedrate.com is the best for people who are self-employed. Other clients mentioned that the service was quick, and that the company had its eye on the ball.

By and large, the Guaranteed Rate reviews AdvisoryHQ saw were very positive. Although most companies strive to provide good customer service, many people complain about their mortgage providers.

This shouldn’t come as too much of a surprise; mortgages are complex, and if something goes wrong, people can lose their house. As such, they tend to get quite upset.

Complaints:

Disorganized process and lost paperwork
Not timely with providing final quotes
Slow replies and sometimes broken promises
Some loan officers apparently dropped the ball

No company is perfect, including guaranteedrate.com. Out of all the companies we have reviewed, essentially every large company has had at least a handful of negative reviews. While there were far fewer Guaranteed Rate complaints than positive reviews, it is possible to find some complaints on the web, and can they provide insight into the types of issues you might encounter.

One reviewer, in his Guaranteed Rate complaint, claimed that the underwriters, who are basically the people who determine the risk of a particular lender, were incompetent.

Apparently, forms were lost and had to be resent, the process was slow, and generally disorganized. Also, we noticed several Guaranteed Rate complaints from people who were rejected from loans, even after having to pay fees.

If a mortgage company requires that you pay a fee before it will review your mortgage, this doesn’t necessarily mean that you’re getting scammed.

Before you pay any fees, however, you should ask questions, especially if there are any concerns you might have. That being said, rejection can be a part of life when it comes to applying for mortgages.

We always recommend that, when applying for a mortgage, to take your time and find a loan officer that you like, who is honest and straightforward. Ask tough questions, see if they will give you a break on the application fee, learn some mortgage terminology, and then ask them to explain the terms to you.

This way, you can find out if they are knowledgeable. Luckily, even many Guaranteed Rate complaints mentioned that the loan officers were adept and friendly.

Finally, some people mentioned in their Guaranteed Rate complaints that lost paper work and slow processing were common. Make sure you keep in touch with your loan officer when going through the approval process. If there is a bottleneck, let the officer know.

Also, when you’re making payments, keep an eye on your account and make sure everything is being processed. If something doesn’t get processed, make sure you get in touch with your mortgage lender. It’s easy to blame the company, but sometimes the customer is at fault. For example, maybe a check got mailed to the wrong place or a bank payment was rejected.

None of the above Guaranteed Rate complaints are damning. The mortgage process is complex, and even the best companies will drop the ball from time to time. Guaranteedrate.com mortgages appear to be as good, if not better, than many competing mortgage companies, but you may still run into some difficulties.

Guaranteed Rate Review Summary: Nothing Is Guaranteed, But It Is a Safe Bet?

Key Points:

Guaranteedrate.com offers competitive fees and interest rates.
Some Guaranteed Rate complaints have been found.
Compared to most mortgage companies, Guaranteed Rate is well-regarded.
AdvisoryHQ’s Guaranteed Rate review is positive.

As with most companies, there have been some negative Guaranteed Rate reviews, but, by and large, most of the reviews from both customers and professionals have been positive. Further, the company offers competitive rates and low fees, making it a solid choice for anyone looking to obtain a mortgage.

When it comes to shopping for a mortgage, it is best to get quotes and estimates from a range of companies. Feel free to get companies to compete for your dollars, and tell them what your other offers are. Even though guaranteedrate.com is one of the better mortgage companies out there, that doesn’t mean you can’t find a better deal.

If and when you do decide to hunt around for a mortgage, our review of Guaranteed Rate reviews suggests that it should definitely be among the companies you contact! Luckily, as an all-digital mortgage lender, it will be easy to contact and work with Guaranteed Rate, so make sure you check them out!

AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.