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Guaranteed Rate Mortgage Refinance
in Mortgage Refinance from Guaranteed Rate · NMLS ID #2611
Claimed

Guaranteed Rate Mortgage Refinance

Claimed
in Mortgage Refinance from Guaranteed Rate · NMLS ID #2611
SuperMoney Net Recommendation Score +82  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +82, equating to 4.6 on a 5 point rating scale.

+82

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

19 users recommend
2 users are unsure
1 user doesn't recommend
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Highlights
Community Rating Strongly recommended
Loan Amount Up to $5,000,000
Loan Term (Years) 5 - 30 years
Number of Reviews 22

Guaranteed Rate Mortgage Refinance Review

Guaranteed Rate Mortgage Refinance is offered by Guaranteed Rate (NMLS #2611), a direct lender founded in 2000 and based in Chicago, IL. Guaranteed Rate Mortgage Refinance is available in 50 states (and Washington, DC).

Key Takeaways

  • No origination fee. Guaranteed Rate Mortgage Refinance does not charge a fee for processing your application on some loan options.
  • 3 different mortgage programs offered. Guaranteed Rate Mortgage Refinance refinances FHA, FHA 203k, VA, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, Guaranteed Rate does not offer financing for manufactured homes.
  • Non-standard interest rates available. Guaranteed Rate Mortgage Refinance only offers hybrid mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Guaranteed Rate Mortgage Refinance.
  • Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered.

Guaranteed Rate Mortgage Refinance Pros & Cons

Pros Cons
  • Loan options with $0 origination fee.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Offers financing for both single and multi-family homes.
  • Available in all 50 states.

Guaranteed Rate Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Guaranteed Rate refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Guaranteed Rate Mortgage Refinance offers mortgage refinancing with terms ranging from 5 to 30 years.

How long does Guaranteed Rate refinance take to refinance?

Guaranteed Rate refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.

Does Guaranteed Rate refinance charge a mortgage origination fee?

No, Guaranteed Rate Mortgage Refinance does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Guaranteed Rate refinance charge prepayment fees?

No, Guaranteed Rate Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs does Guaranteed Rate refinance offer?

Guaranteed Rate Mortgage Refinance offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does Guaranteed Rate refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Guaranteed Rate Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 7:00pm
  • Tuesday 8:00am - 7:00pm
  • Wednesday 8:00am - 7:00pm
  • Thursday 8:00am - 7:00pm
  • Friday 8:00am - 7:00pm
  • Saturday 9:00am - 2:00pm

Other Services by Guaranteed Rate

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Late Fee Amount $25
No Origination Fee
No Prepayment Fee
Credit Score Range 550 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Recent Bank Statements
Loan Term 5 - 30 years
Loan Amount Up to $5,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • VA

Guaranteed Rate Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +82, equating to 4.6 on a 5 point rating scale.

+82

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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