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Guaranteed Rate Mortgage Refinance Review


Rating: 8 / 10 (Very good)
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Guaranteed Rate is a Chicago-based company founded in 1999 with the aim of providing mortgage services in the United States. They offer mortgages for both first-time buyers and people looking to refinance, and are the first to have a fully Digital Mortgage service. They are a BBB-accredited business with an A+ rating.

Guaranteed Rate is a Chicago-based, licensed mortgage broker focused on providing mortgage lending services throughout the United States, for both buying and refinancing a home. Their convenient online application form and mobile app connects homeowners searching for home refinancing options with their specialized team of loan officers, each with their own team of specialists, in order to streamline the process. Their portal allows real-time online access to rates and information about all their loan products, and they eliminate the hassle of time-wasting paper-pushing by working fully digitally, via their Transfersafe secure document transfer and storage system.

Types of Home Mortgages

  • Fixed Rate Mortgages

  • Adjustable Rate Mortgages

  • Interest-Only Mortgages

  • FHA Loans

  • VA Home Loans

  • Jumbo Mortgages

Qualifying for Mortgage Refinance

Many people applying for home refinancing are doings so due to difficulties in keeping up with their monthly payments. This generally means that their credit scores have also experienced some bruising, which can be a problem when attempting to obtain lower rates with a new mortgage. Guaranteed Rate will take into account your credit score and your income-to-debt ratio when determining the rates they can offer, but they also evaluate employment history and the amount of equity accumulated in your home.

Things you may be asked for:

  • Current mortgage information

  • Homeowners insurance

  • Property tax bill

  • Prior closing documents

  • Latest payroll stubs

  • W-2 forms

  • Most recent bank statements

Refinance Mortgage Rates

Fixed Rate Mortgages

 

30-Year Term

15-Year Term

Rate

4.000%

3.250%

Annual percentage rate (APR)

4.047%

3.332%

Fees

$1,690

$1,690

 

Adjustable Rate Mortgages

5/1 ARM

 

Rate

3.25%

Annual Percentage Rate (APR)

3.793% for the first 60 months

Fees

$1,690

Why Mortgage Refinance at Guaranteed Rate

Guaranteed Rate has consistently outperformed their competition with their exceptional customer service, resulting in a 95% customer satisfaction rating and an astonishing 80% Net Promoter® Score (NPS). Their website not only provides the first fully Digital Mortgage, it also offers a whole host of educational resources that go above and beyond the usual (from step-by-step guides before you begin your mortgage search to 10 different calculators to gardening tips for your home). Guaranteed Rate goes the extra mile to make sure that their customers get the best rates and full transparency on their fees, ensuring that their home refinance is a hassle-free process.


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