Rate

What

Where

Guaranteed Rate is a leading mortgage lender in Chicago known for its broad spectrum of mortgage products tailored to various borrower needs. Their services are designed to cater to both first-time homebuyers and those looking to refinance existing mortgages. Key services include:

Conventional Loans: These are the most common type of mortgage loans that Guaranteed Rate offers. They are ideal for borrowers with good credit and a stable income who can afford a down payment of at least 3-5%. These loans are not insured or guaranteed by the federal government and usually come with fixed or adjustable interest rates.
FHA Loans: Designed for borrowers with lower credit scores and smaller down payments, FHA loans are backed by the Federal Housing Administration. Guaranteed Rate offers competitive rates on these loans, which require a minimum down payment of just 3.5%.
VA Loans: These loans are available to veterans, active-duty service members, and eligible family members. VA loans, which are backed by the Department of Veterans Affairs, offer competitive interest rates and often require no down payment.
Jumbo Loans: For those purchasing a high-value property that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA), Guaranteed Rate offers jumbo loans. These loans typically require higher credit scores and larger down payments.
Refinancing Options: Whether you’re looking to lower your interest rate, reduce your monthly payments, or switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, Guaranteed Rate provides a variety of refinancing options. They also offer cash-out refinancing for borrowers looking to tap into their home equity.
Digital Mortgage Experience: One of Guaranteed Rate’s standout features is its fully digital mortgage application process. Through their online platform, clients can easily apply for a mortgage, upload documents, and track the status of their application from start to finish.