Date: September 04, 2018 Age: 29 Gender: Female Marital Status: Married
Closing Fee
From what I understand and have researched. I got the best closing cost possible around my area
Interest Rate
I got the best interest rate possible. My lender made sure of that and made sure I was covered
Loan Officer Service
They were there for me every single time that I needed them. They made sure I knew what was going on.
Overall Rating
Pros
I like that they explained everything. It takes me a minute to process so they took it slow and steady.
Cons
I didn't exactly like that the process took as long as it did but I also understand why so that wasn't a big deal either.
Date: September 04, 2018 Age: 36 Gender: Male Marital Status: Married
Closing Fee
It seemed reasonable compared to other mortgages. I wasn't upset about it.
Interest Rate
I got my mortgage right before the housing market crashed. We got our home in 2006, and our interest rate was 5.15 percent. We have been paying it off so fast that it didn't make sense to refinance, however.
Loan Officer Service
I don't require a lot of service because we pay our bills off on time. But in the couple of occasions when I have asked for advice, they have responded quickly and with a lot of good information.
Overall Rating
Pros
They are close to my home, so it's convenient to pay. They get me in and out quickly when I pay off my monthly bill and they are accurate.
Cons
I wish they were open on Saturdays, but that is really minor. There is also only a couple of locations in my city, but that is no big deal either.
Date: August 30, 2018 Age: 28 Gender: Female Marital Status: Married
Closing Fee
Closing costs were covered by the seller, I did not incur any of that expense. I believe that the fees for the lender were rolled and paid out by the escrow account. I know that nothing was paid out of pocket by myself.
Interest Rate
The interest rate that we are locked in at is from 2015 when it was a buyer's market in my location. It was a really really good rate, and I am very satisfied and happy with it.
Loan Officer Service
A mortgage broker was used, so there is not an actual loan officer that I have ever meant or actually had any sort of contact or interactions with.
Overall Rating
Pros
I like that it is easy for me to use the online aspect of this bank. Payments online and via phone are so easy and convenient.
Cons
Guaranteed Rates customer service is sorely lacking. The people that I speak with cannot speak very good English, are very difficult to understand, and at times can be very very rude.
Date: July 27, 2018 Age: 33 Gender: Male Marital Status: Married
Closing Fee
I don't remember the closing costs that I had. My mother in law helped me with the paperwork as I was making my way back from the States from overseas.
Interest Rate
I don't know what other lenders are offering. My loan was a VA loan due to my military history.
Loan Officer Service
My loan officer was very flexible and willing to work with my Mother in law who did the bulk of the work on my behalf as I was overseas at the time of my purchase.
Overall Rating
Pros
They have a history of working with military members and know how to coordinate with them to get the job done.
Cons
Date: June 07, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
I found the title insurance to be surprisingly expensive. This was the additional $1,950 I referenced earlier. Because we were late in the closing process when the cost of that insurance was disclosed to us, I did not have the inclination to shop around for other insurance providers.
Interest Rate
The interest rate we received was 3.25% for a 15-year loan, and that was near the minimum of ranges on offer at the time. However, when you consider the closing costs for those loans - our loan carried no points - this was the best value possible at the time.
Loan Officer Service
Our loan officer was extremely responsive to our questions. Part of the reason why we went with Guaranteed Rate is that our realtor has a lot of confidence in the individual who walked us through the process. There were no surprises and no stressful moments.
Overall Rating
Pros
The lender was very responsive to our questions. They competed hard on rates and very much acted like they wanted our business. Applying and receiving approval documentation took very little time, as I recall.
Cons
They could have been more transparent upfront about our expectations for title insurance. They recommend their own subsidiary, which is shady and explains why the premiums are so high. But other than that I was completely satisfied.
Date: June 06, 2018 Age: 40 to 49 Gender: Male Marital Status: Unmarried
Closing Fee
Almost impossible to do a direct comparison on closing costs. My hope is that they were not unreasonable compared to other lenders.
Interest Rate
Did not do a direct comparison of the interest rate. Did receive cash back as part of a promotion between my employer and lender.
Loan Officer Service
In general, felt the loan officer could have been more helpful guiding us through the process. In particular, was unprepared for the documentation involved for the funds used in the down payment.
Overall Rating
Pros
I do not know that I would have used this lender without the deal provided by my employer. Overall, I expect the service was adequate, because the loan did get made, and the closing was smooth.
Cons
My biggest dislike was that the loan was sold almost immediately after we closed. Not the action, but the fact that I didn't know it was going to happen. No issues with the mortgage once it was transferred.
Date: June 06, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
I am not sure what the industry standard is on closing cost as this is our first non-new home purchase. But, I do not think it was outrageous
Interest Rate
I think because of our credit score, and loan to value ratio, we did not get as competitive a rate as we could have. On one hand, we were very happy with the preapproval amount we received so we could make an offer immediately and be taken seriously. On the other hand, we plan to re-fi as soon as our loan is sold.
Loan Officer Service
The communication from the entire team was awesome, especially from an out of state lender. Our broker was a little rubbed that we didn't use her lender but it's not like we didn't try.
Overall Rating
Pros
We were treated awesomely at every turn and the entire team was seamless in the progression and different aspects of the loan process. I think we were a little small for this lender (amount), but they never treated us like we were.
Cons
Coming down the stretch to closing, there was a minor hiccup with our title company receiving the necessary documents in time. But after reviewing the email threads, I fault the title company more than the lender. Everyone chalked it up to the lender is out of state, but we did close on time.
Date: January 22, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I felt it was standard. I did a bit of research on the topic because it was our first house and I did not know much about closing fees. I felt what we had to pay was about what we would have paid elsewhere.
Interest Rate
I'm not sure that there is such a big difference between the rate we got from our lender and what we could have had from another lender. We did shop around a little bit, of course, but it seemed that everybody was going to offer us pretty much the same rate. So we chose Guaranteed Rate based on the fact that friends of ours had used them, and a particular loan officer, and were really happy with the service they got.
Loan Officer Service
The service was excellent. I felt he was quick, efficient, he knew what he was doing and always got back to us quickly and was very helpful.
Overall Rating
Pros
I felt we were in good hands. The firm has a good reputation, they're very professional and I did not feel any unpleasant pressure coming from them, which was not the case with some other lenders I talked with.
Cons
There was nothing I dislike about them, honestly. They were very busy but always nice and helpful. And they were real pros, which made us feel more secure.