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Guild Mortgage continues to be a dominant player in the home loan space. In 2023, it introduced a 1 percent down payment loan program that could help you get into a home sooner with less savings. Some downsides: It doesn’t offer mortgages to borrowers in New York State, and J.D. Power ranked it near the bottom in terms of customer satisfaction in 2023.
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Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing and more
Min. credit score required
620 for conventional loans, 680 for jumbo loans, 540 for FHA loans, 540 for VA loans, 540 for USDA loans
Nationwide availability
All U.S. states except New York
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans
Guild Mortgage is an online and brick-and-mortar lender, established in 1960, with more than 4,000 employees operating in over 250 branches.
The lender offers a range of mortgage products, the “MyMortgage” online portal and local in-house processing, underwriting and funding. It also offers a “Homebuyer Protection Package” that includes “Credit Approval Protection,” which would pay you up to $1,000 for certain expenses and up to $5,000 for lost earnest money if you were preapproved but the lender becomes unable to close your loan; “Homebuyer Express,” a $500 17-day closing guarantee; and the “Lock and Shop” program, which locks your interest rate for 120 days and includes a one-time float down option. Guild Mortgage also participates in more than 500 local down payment assistance programs across the U.S.
Large variety of loan options
Offers e-closings
Not available in New York
Guild Mortgage typically doesn’t charge an origination fee. The lender doesn’t display mortgage rates online, however, nor offers the ability to get a rate quote through its website. You’ll need to contact a loan officer to learn about your closing costs. Because of Guild’s lack of transparency on rates and fees, it scored 6.8/10.
Guild Mortgage provides conventional loans, government-insured loans (FHA, VA and USDA) and options to refinance your existing mortgage. It also works with investors. In addition to providing many mortgage options, the lender operates in all states except for New York. Because of Guild’s robust product offering and broad geographic footprint, it scored 10/10.
Guild Mortgage is accredited by the Better Business Bureau with an A+ rating, but a customer star rating of one out of five. The lender came in below average in J.D. Power’s mortgage origination report for 2023. In October 2020, it settled with the U.S. Department of Justice related to allegations it “knowingly” approved ineligible FHA loans that later defaulted and led to FHA mortgage insurance claims, and also failed to follow quality control and reporting rules.
While Guild Mortgage offers online prequalification and preapproval, you’ll first need to connect with a loan officer to review your options. You can apply for a mortgage or refinance through the lender’s MyMortgage portal, where you can upload documents and manage checklists from any device. You 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 you 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. Because of some hits to its reputation for customer service, Guild Mortgage received 7.4/10.
Guild Mortgage offers both rate-and-term and cash-out refinancing options. Notably, the lender offers a “Payment Protection” plan that waives the refi lender fees for returning borrowers. To be eligible, you’d need to have closed your loan between Oct. 17, 2022 and Dec. 31, 2024, and then close the refinance no later than Dec. 31, 2025.
Learn more: Choose the right kind of refinance
Mortgage rates could fall in the future, a reality that has frozen many would-be buyers. Guild’s Payment Protection plan lets you refinance with no lender fees, so long as you’ve been making payments for six months.
Like other mortgage lenders, Guild has begun piggybacking off of the 3 percent down payment programs offered by Fannie Mae and Freddie Mac. For those who qualify, Guild will pay up to 2 percent of the purchase price or up to $5,000. However, borrowers must earn less than the median income in the area where they’re buying, so qualifying for a mortgage might be a challenge.
If you’re a first-time homebuyer with low to moderate income, 3-2-1 Home Plus provides down payment flexibility to get you into a home now. The buyer makes a 3 percent down payment, and Guild offers a $2,000 Home Depot gift card and $1,000 to $2,500 for closing costs.
A product designed to address a competitive housing market, BuyNow Advantage lets a buyer make an all-cash offer with no appraisal or financing contingencies. Guild pays cash for your home if your loan is still in process when the home sale is finalized. With Guild’s rental agreement requirement, you can move into your home as soon as the lender closes the deal. You must have a minimum 680 credit score to qualify.
This program offers FHA borrowers the option to finance up to 5 percent of the home’s appraised value to fund energy-efficient improvements. Energy improvements can include buying appliances such as a washer, dryer, smart thermostat, dishwasher or refrigerator.
You can apply for a mortgage with Guild Mortgage in person at a branch location, online or by phone at 800-971-3864. Its customer service hours are Monday through Friday from 6 a.m. to 5 p.m. PT. Here are some tips:
Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)
Learn more: How to get a mortgage
NMLS: 3274
4.3
35 ratings
This lender has 23 recent reviews.
91% of customers would recommend this lender.
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To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Rates and terms of loan honored?
Closed mortgage with this lender?
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Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?