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Lender Reviews/Guaranteed Rate

Guaranteed Rate Review 2026

4/5.0

Guaranteed Rate (now just "Rate") is a large retail lender with a hybrid model: local loan officers combined with digital tools. They offer a full menu of loan products and have a strong presence nationwide.

Best For
Borrowers seeking local loan officers and digital tools
Min Credit Score
620
Min Down Payment
3%
Customer Rating
3.5/5.0

Pros & Cons

Pros
  • Nationwide network of local loan officers
  • Digital application available
  • Wide variety of loan products
  • Strong brand reputation
  • In-person and online options
Cons
  • Rates can be above average (0.10+ points above APOR in 2024)
  • Average origination fee $2,951 in 2024
  • Transparency: must submit info to see rates
  • Customer service experiences vary by loan officer

Guaranteed Rate Rates & Fees

Rate's interest rates were 0.10 points above average prime offer rates (APOR) in 2024, up from 0.02 in 2023. Rates are moderately competitive but not the lowest in the market.

Fees: Average origination fee was $2,951 in 2024. Total closing costs vary by loan type and location. Fees are in the mid-range compared to competitors.

Loan Types Offered

ConventionalFHAVAUSDAJumboRefinance

Application Process

Apply online or work with a local loan officer. Digital tools available for document upload and application tracking. Closing timelines are standard (30-45 days).

Customer Service

3.5/5.0

Our customer service rating is based on J.D. Power scores, BBB ratings, Trustpilot reviews, and consumer complaint data. Guaranteed Rate scores below the industry average for customer satisfaction.

💼 Broker's Perspective

Rate is a solid retail lender with good technology, but their pricing is higher than what brokers can access through wholesale channels. If you like working with a local loan officer, consider finding a local broker instead — you'll get the same personal touch with better pricing.

— Bill McCoy, Licensed Mortgage Broker (CA DRE #01957425, NMLS #335429)

Who Guaranteed Rate Is Best For

Guaranteed Rate is ideal for borrowers seeking local loan officers and digital tools.

Consider this lender if you:

  • Nationwide network of local loan officers
  • Digital application available
  • Wide variety of loan products

Frequently Asked Questions

What are Guaranteed Rate's current mortgage rates?

Rate's interest rates were 0.10 points above average prime offer rates (APOR) in 2024, up from 0.02 in 2023. Rates are moderately competitive but not the lowest in the market.

What fees does Guaranteed Rate charge?

Average origination fee was $2,951 in 2024. Total closing costs vary by loan type and location. Fees are in the mid-range compared to competitors.

What is the minimum credit score for Guaranteed Rate?

Guaranteed Rate requires a minimum credit score of 620. However, qualifying for the best rates typically requires a score of 740 or higher.

How long does it take to close with Guaranteed Rate?

Apply online or work with a local loan officer. Digital tools available for document upload and application tracking. Closing timelines are standard (30-45 days).

Is Guaranteed Rate a good lender?

Guaranteed Rate has a 4/5.0 rating based on our analysis of customer service scores, rates, fees, and loan options. They are best for borrowers seeking local loan officers and digital tools.

Want to Compare? Get Quotes from Multiple Lenders

Don't settle for the first offer. Compare rates from Guaranteed Rate and other top lenders to ensure you're getting the best deal on your mortgage or refinance.