Guaranteed Rate
Unprofessional, Very Complicated
I am only giving Guaranteed Rate a 1 because I can’t give them a 0. We had to use this lender in order to get a credit for closing on the property.
I agree with Louis K. Unprofessional, very complicated, lots of paperwork (we submitted more than 85 documents), higher rates, higher fees, and inflexible.
The first go-round, the broker and her back office demanded that we sign incorrect documents and said they’d “fix them later.”
That’s a violation of the law. Period. When you sign those documents, you are attesting that you are answering the questions truthfully and to the best of your ability.
And then Guaranteed Rate told us we needed to sign documents that were clearly incorrect (aka, false).
The excuse? It’s so hard to change and it will take H more than 2 hours of work.
Do yourself a favor and find someone else who is knowledgeable and willing to get things correct.
There are a lot better mortgage companies out there with less hassle and much lower fees.
In fact, we anticipated that our closing would be delayed (yet again), and the broker said that if we delayed closing, it would hurt her commissions.
That’s all Guaranteed Rate really cares about — the broker’s commissions and their high fees.
My guess is Guaranteed Rate overall is probably a decent mortgage company.
My guess is Guaranteed Rate overall is probably a decent mortgage company. However, the person who was assigned to help us was a complete failure. Both our builder and realtor said this was the worst experience they had ever had with a mortgage lender, and could not believe the discourtesy of not returning phone calls.
When there was any communication, it was very rude, abrupt, and after the fact. Such poor customer service should not reflect on this company as a whole, but if they employ too many folks like this, they may be looking at decreased business over time. Very sad and pathetic experience. What a shame.