NMLS# 2611

Guaranteed Rate, Inc.

Lender Summary

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. Guaranteed Rate won an American Business Award for its Digital Mortgage technology in 2016, ranked No. 1 in Scotsman Guide's Top Mortgage Lenders 2016, was chosen as Top Lender 2016 and 2017 by Chicago Agent magazine, made the Chicago Tribune's Top Workplaces list seven of the past eight years, and was named Best Overall Online Lender and Best Lender for FHA Refinance by NerdWallet in 2018. 

What they're saying

Ratings & Reviews
1308 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Excellent
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Everything as promised

I had decided to refinanced about 4 months ago but the deal offered was not worth doing it. I found this online as I checked on COVID-19 cases around the world. I went for it with some trepidation. As expected I got several calls but this company was precise. I asked for specific information, website, the details on the broker and on and on. I got it all and it checked. I proceeded and got simply put an outstanding deal. Getting all the information required by lenders was a pain in the neck but Ismael and his team were nor only patient but very helpful. I continue to check and recheck but it was all well done better setvice and rates than my bank. Thanks! I recommend Ismael and his team without any reservations. They are honest, efficient and got me frankly an unbeatable deal.

  • Closed with Lender:

    Yes
  • Loan Type:

    Refinance
  • Review Type:

    Loan Officer Review
  • Loan Officer:

Professional, competent and experienced

Lane is a competent and experienced loan officer. There were many challenges in my mortgage process that he navigated towards a positive result. Lane not only worked at the highest level of dedication to his responsibilities, but he modeled professionalism and the importance of good character. Lane's experience and perseverance accomplished in a short time what might otherwise have taken months. In sum, Lane Sears is professional and reliable. He is an individual of resilient character. I unequivocally recommend Lane for all your loan and mortgage needs.

  • Closed with Lender:

    Yes
  • Loan Type:

    Home Purchase
  • Review Type:

    Loan Officer Review
  • Loan Officer:

A loan experience full of false information and miscommunication

This is a warning for anyone thinking of using Guaranteed Rate or Guaranteed Rate Affinity for their next home purchase. Our experience with Guaranteed Rate Affinity and Scott B. Rosenberg (Loan Officer) was horrendous. Dealing with our loan officer was like dealing with a used car salesman and he was quite unscrupulous. He was not a trustworthy lender. We were misguided and provided with misinformation multiple times throughout the loan process.
First there is the interest rate. Our loan officer initially provided a great rate for our pre-approval. Then once we found a home, that rate went up but as expected since interest rates slightly increased. He made it very clear to us that if rates went back down we could always renegotiate the rate around closing. Then as the closing date started to come closer and interest rates dipped considerably, I requested that we renegotiate. Scott's team was VERY slow to respond and he was constantly "working" on it. He then got back to us at the 11th hour only to tell us that he was not changing the rate and at this point we were too close to the closing to do anything about it. He purposely dragged his feet until it was too late. I have an 800 credit score and I was receiving quotes from other lenders half a point less than what Scott was offering. This will end up costing me thousands throughout the life of my loan.
Then there is the discrepancy with closing costs. Two days to closing we were provided with the Closing Disclosure. Although we weren't happy with our rate there was nothing we could do at this point. I just wanted this nightmare to end but it unfortunately continued. The night before the closing we were provided with the final closing costs to only find that we needed to pay several thousands more than what was initially disclosed on the CD. This included large discrepancies with the Title Fees, County Taxes (forgot to include), prepaid interests and initial escrow. All which were available to Scott and his team when he sent the CD two days prior. Scott did apologize and mentioned that he did a poor job reviewing the CD and didn't notice the discrepancies. If this was the only hiccup, maybe I could understand but it wasn't.
I have to say I am extremely upset with the poor communication from Guaranteed Rate, Scott and his team throughout the process. I will never be using him or Guaranteed Rate again in the future and others should think twice before you do as well.

  • Closed with Lender:

    Yes
  • Loan Type:

    Home Purchase
  • Review Type:

    Lender Review

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LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

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