Department of Agriculture USDA loans Jumbo loans Renovation loans Refinance loans Cash-out refinance loans Manufactured-home loans Fixed-rate loans Adjustable-rate loans Bridge loans Reverse mortgage Borrowers can choose between fixed-rate loans, where the rate never changes, and adjustable-rate mortgage ARM loans, where the mortgage rate may increase or decrease throughout the loan term.
Renovation loans, which allow you to cover the purchase and costs of remodeling a home, are also available. You can even search for a builder, real estate professional, or title agent near you. Guild Mortgage also offers a day closing guarantee to qualifying borrowers, as long as the borrower has been pre-approved with the lender. This is considerably faster than the industry average for home purchases, which was 51 days as of March They also provided us with a list of credit score requirements, which vary by product type:.
According to a closing cost worksheet we received separately, origination fees may include: Funding fee Processing fee Tax certificate fee Underwriting fee Appraisal fee Credit report fe Document preparation fee Title costs You can also decide to buy discount points — a fee you pay at closing — to reduce your mortgage rate. Guild offers several money-saving options for borrowers and applicants. If rates drop once you find a home, you can float down the rate for free.
You can also lock in your rate once you apply for a mortgage for free — but a lock-extension fee does apply if you need to extend the rate lock. Guild also offers a program called Credit Approval Protection. Homebuyers in this situation might consider taking steps to improve their credit before moving forward in the homebuying process. A stronger credit history and higher credit score could help you qualify for the best mortgage rates.
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Get paired with your best mortgage offers in 2 minutes or less. Guild Mortgage is an online and brick-and-mortar lender, established in , with approximately 4, employees operating from more than branches in 32 states. The lender also participates in more local down payment assistance programs across the U.
The lender ranked second for customer satisfaction in J. In October , it settled with the U. While Guild Mortgage offers online prequalification and preapproval, borrowers must first connect with a loan officer to review their options. Borrowers can also submit income and asset information electronically or this information can be retrieved directly from the source , communicate with a loan officer and receive real-time status updates.
Guild Mortgage also offers e-closing capabilities, allowing borrowers to review and sign the e-note, the digital equivalent of a promissory note, from any location. The documents are retained in an encrypted electronic envelope and accessible through user authentication. In addition, Guild Mortgage offers online calculators to help estimate mortgage payments and affordability, as well as a prequalification calculator, cash-to-close calculator, refinance calculator and a net proceeds calculator.
For conventional loans, key requirements include good credit typically a FICO score of or higher and a minimum down payment of 3 percent. Those interested in a refinance must contact the lender directly. Here is our full methodology. Star ranking and total number reflects the lifetime consumer reviews received while this lender has been an advertiser on Bankrate.
Customer service rating. Our Take 3. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data. Jump to: Full Review. Credit Score. Loan Types and Products. Offers a wide variety of loan products, including home improvement and manufactured home loans.
Cons Does not offer home equity loan products. Average interest rates and fees are higher than other lenders. Compare to Other Lenders. Learn More. Credit Score 62 0. Sign up now. Guild Mortgage at a glance. Guild Mortgage loan types and products. Guild Mortgage online convenience. Guild Mortgage rates and fees. Guild Mortgage rate transparency.
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