Guaranteed Rate Mortgage Refinance

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 are 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.