Guaranteed Rate Mortgage Review 2023
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At a glance

4.6
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; interest-only
Nationwide Availability
Available in all U.S. states
Min. credit score required
620 for conventional loans; 620 for FHA loans; 580 for VA loans
Pros and cons
Pros
- Advertises rates online for easy comparison
- Advanced digital capabilities streamline the application process
- Extras including personal loans and service for Spanish-speaking borrowers
Cons
- Higher credit score requirements not ideal for some borrowers
Guaranteed Rate overview
Guaranteed Rate is good for
Borrowers with strong credit who prefer an all-digital experience
Breakdown of Guaranteed Rate overall score
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Affordability: True to its name, Guaranteed Rate offers competitive rates compared to Bankrate’s averages. It charges lender fees on most loans.
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Availability: Guaranteed Rate is a national lender with mortgage solutions for borrowers with varying credit scores and other qualifying factors.
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Borrower experience: J.D. Power scored Guaranteed Rate highly for customer satisfaction, but the lender maintains average ratings from customers with the Better Business Bureau.
Methodology
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
Affordability: 5/5
Guaranteed Rate regularly updates its mortgage rates online with real-time estimates based on credit score, location and type of property. These include estimates of closing costs and monthly mortgage payments. It’s a relatively painless process that doesn’t require handing over your information or reaching out to a loan officer.Guaranteed Rate’s GRaffordable calculator also allows you to see a full snapshot of loans available with a line item for lender fees. In most cases, the lender appears to charge between $1,290 and $1,440 in fees. Those fees are waived on VA loans.
Availability: 4.5/5
Guaranteed Rate provides the complete slate of standard mortgage options, from conventional to government-insured loans. The lender works with borrowers nationwide.
Borrower experience: 4.6/5
Guaranteed Rate has been in business for more than 20 years, having established a well-known brand with over 1 million customers to date. The lender is a Better Business Bureau-accredited company with an A+ rating, and J.D. Power ranked it above average for mortgage origination customer satisfaction in 2022.
Guaranteed Rate’s online loan process is designed to appeal to tech-savvy homebuyers. You can receive a preapproval letter in around 15 minutes online, and the lender’s website features plenty of handy calculators to help you determine how much you can afford to spend, estimate your closing costs or figure out whether refinancing would be a smart financial move.
If you want to apply for a mortgage from your phone, the lender’s mobile app includes real-time rate updates, comparison tools and the capability to instantly connect with a loan officer via email. The online approach continues all the way to the time you become a homeowner, too: Its FlashClose tool helps some borrowers handle all the closing duties of signing paperwork from home.
Refinancing with Guaranteed Rate
Guaranteed Rate does not share a detailed list of costs for refinancing, as these will vary based on borrower. However, there is a helpful calculator tool on its website to help you estimate your new payments and breakeven point. The lender also regularly updates rates for refinancing.
Alternatives to Guaranteed Rate
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Rocket Mortgage review – This lender also has a massive lending presence with comparable digital tools and competitive rates.
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Better mortgage review – While some government-backed loans aren’t available here, Better offers a similar experience.
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Homefinity mortgage review – This lender offers online applications and a mobile app.
Guaranteed Rate consumer reviews

4.9
225 reviews
About consumer ratings
Customer service rating
98% of reviews would recommend this lender
0 of 0 rates honored
Review this lender
Write a review of your experience with Guaranteed Rate.
Written by
David McMillin
Contributing writer
David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.