Guaranteed Rate Mortgage Review 2023

Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.
By Kate Wood and  Phil Metzger 

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Our Take


NerdWallet rating 

The bottom line:

An early player in the online mortgage realm, Guaranteed Rate publishes detailed rates that can be customized for many loan types and offers a convenient online application.

Guaranteed Rate
Guaranteed Rate: NMLS#2611
Min. credit score
Min. down payment
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA

Pros & Cons


  • Displays detailed sample rates for many of its loan products.
  • Offers a variety of loans, including jumbo and interest-only products.
  • Offers low rates compared with other lenders, according to the latest federal data.


  • Doesn't offer home equity loans.

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Full Review

What borrowers say about Guaranteed Rate mortgage

NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from J.D. Power and Zillow.

  • Guaranteed Rate receives a 731 out of 1,000 in J.D. Power’s 2022 U.S. Mortgage Origination Satisfaction Study. The industry average for origination is 716. (Mortgage origination covers the initial application through closing day.) 

  • Guaranteed Rate receives a customer rating of 4.96 out of 5 on Zillow, as of the date of publication. The score reflects more than 20,300 customer reviews.

Guaranteed Rate mortgage variety of loan types

  • 5 of 5 stars

Headquartered in Chicago, Guaranteed Rate offers fixed- and adjustable-rate purchase loans, including FHA, VA, jumbo and interest-only mortgages. The lender also offers refinance and home-renovation loans.

Guaranteed Rate HELOC

The lender also offers a home equity line of credit, or HELOC. These first or second mortgages are a way for homeowners to access home equity without refinancing or selling their home. Funds obtained with a second mortgage can be used for expenses such as home improvements, education costs or debt consolidation.

Guaranteed Rate offers a HELOC with a fixed or adjustable rate and a draw period of two to five years, and the lender promises to fund the loan in as few as five days.

Guaranteed Rate mortgage ease of application

  • 5 of 5 stars

Guaranteed Rate lets you handle the loan application process online. On its website, you choose whether you're looking to purchase or refinance and then go from there. You'll answer basic questions about where you are in the homebuying process (for a purchase) or what's most important to you (like a lower rate or getting cash out) for a refinance. After additional questions, you'll be shown several loan options with personalized mortgage rates for each. If you choose one, you can begin filling out the full digital application. Document upload, e-signature and an interactive checklist help you keep track of your loan's progress.

Guaranteed Rate mortgage rates and fees

  • 3.5 of 5 stars

  • Guaranteed Rate earns 3 of 5 stars for average origination fee.

  • Guaranteed Rate earns 4 of 5 stars for average mortgage interest rates.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

Guaranteed Rate mortgage rate transparency

  • 5 of 5 stars

Guaranteed Rate lets you see detailed rate information for many of its products. These spell out all of the assumptions used to determine that rate, like the property location, the borrower's credit score, the amount of the down payment and whether taxes and insurance will be escrowed.

To get personalized rates, you'll have to click through several screens and answer questions about your homeownership plans, your credit score and the property you're hoping to purchase or refinance. It's not as simple as a calculator where you enter your details, but you don't have to provide your contact information.

Alternatives to Guaranteed Rate mortgage

Here are some comparable lenders we review that borrowers can consider.

New American Funding offers a similar digital experience, and CrossCountry offers a similar variety of loan types.

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

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More from NerdWallet


NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).