RateReviews of rate.com

The process to close my loan took 67 days, the loan officer was very unprofessional did not communicate the process to me, quoted me a different closing amount which higher than I expected very terrible customer service beware of the Chicago team.

I'm writing this review in honest hope that it might save another consumer from the nightmare that is "Guaranteed Rate". I was referred to this company via Mechanics Bank, whom I assume would be trustworthy. I was very wrong. I began my refinance with Jim Fett (VP of Sales) in February of 2021, thus began my painful journey with Guaranteed Rate. Initially I was very impressed with the low interest rate but that's where it ended. 5 months later I have faxed and re-faxed multiple duplicate income statements, had 2 credit reports run, appraisals, each time I jumped through hoops for Jim he needed yet another document, or claimed he never received the documents I sent. I wouldn't hear from him for weeks at a time and always had to follow up. The clencher was when the rate was set to expire and he had made no contact. Jim was so disorganized and when asked about the progression of the loan, he always had an excuse and then asked for more documentation. I decided to pull the loan because at this point it wasn't worth my sanity, but the branch manager at Mechanics lured me back in, promising that Jim could seal the deal the deal in 2 weeks. Wrong again! Another month went by before I received docs (Via mail) with no instructions as to how to return them. Again asking for more documentation and now the closing costs have gone from $3,500 to $6,500 in addition to higher origination fees....in fact, as another reviewer mentioned, all sorts of hidden fees. Needless to say, I pulled the loan because I would pay to keep these people away from me. I am grateful that I never signed on the dotted line with this company. It sounds like I truly saved myself based on other reviewers who went on to actually finalize their loan. Total nightmare experience with a highly incompetent loan officer and questionable (at best) company.

Chose this company as one of my 3 to get refi quotes. They came back with a loan statement that was full of extremely high fees. They had the same current rate as the other two, but theirs included costs to "buy down" the rate to make it equal to the other two. In addition, they had higher fees like Appraisal fee $600 and then an additional $200 fee for "Rush Appraisal". I never stated that I was in a hurry to get this refi done. The title fees were inline, but $85 for the Recording fee when it's only $50 is just another example of the markup I was seeing. The rep was very kind and said these fees were all negotiable. I agree, they are, but when you're already starting at a higher point, you are going to waste money. The final straw was when I saw that my cash out at settlement was $2K below what I was asking for. Again, they said that was negotiable. Since I would have 60% equity after closing, I didn't think it was even necessary to "negotiate" the amount that was the purpose of the Refi to begin with. They simply didn't listen to what I wanted. I went with a local mortgage refi. Their fees were very competitive. They waived the appraisal fee. Since I own the company (self-employed) I knew the process would require many documents. Yet, from application to closing, the process took 3 1/2 weeks.

I refinanced with Guaranteed Rate. I made my first payment in Mid April. They cashed it right away. In June I noticed I didn’t get credit for it. provided them with a copy of the back of the check. They accidentally deposited it into the wrong bank account. Now 3 months after my depositing my check and 5 weeks after realizing their error. I still haven’t gotten credit for my payment. I have been forced to make an extra payment to avoid late fees and my credit score getting affected. They are crooks and thieves. NEVER USE THEM.

If I could do less than one star I would. Our experience was terrible, one error after another! Perhaps this crazy market is too much for this company to handle.

My experience with Guaranteed Rates was a horror story. My loan officer frankly lied through his teeth to get the application. I was rate comparing with another company and Guaranteed had a better rate and promised a closing within 30 days. Fast forward 4 months, the loan officer has quit - he texted me I quit call customer service. I escalated to his branch manager who at first sounded like he was there to help me and then a week later said the file was denied. Oh did I mentioned I had final approval a month ago? No word on what happened between final approval and denial, no opportunity for remediation i.e. pay off debt etc. just 4 months of wasting my time and losing out on another opportunity with a reputable bank. I am so disappointed with the service and lack of integrity within Guaranteed Rate.

Quite possibly the worst mortgage experience I have had. Over 110 days with over $1500 in added closing fees for their failure to close on a loan within their rate locked period. $500 spent/wasted on an appraisal that would not be refunded "because it was paid to the appraiser" and then a 2nd request for a credit report because the 1st one expired because they took so long. Never once was a closing date given, a reason given for the delay or any attempt to salvage my business. I was left out to dry. In the mean as rates dropped, my costs went up with Garanteed Rate. To Top it all off, I could have closed with numerous other lenders and been saving money with a new lower rate. Stay far away from GR.

I currently have two loans on two different properties with Guaranteed Rate. My most current is a property in Colorado. I had automatic payments setup which never pulled, so I made a one time payment. THEN the autodraft came out ten days later, so I paid TWICE in a single month which they couldn't refund. This month they sold my loan to a new servicer, cancelled my auto-draft, couldn't tell me if my loan number was the same, and gave me the new bank's 1-800 number to call, which does not recognize my social through the automated system. I never asked for loan to be sold, and they don't appear to give a damn about making reasonable accommodations to pay the with the new servicer.