Rate (Guaranteed Rate) Review

Hybrid digital-and-local model with competitive rates and fast closings. Independent Rate (Guaranteed Rate) review: 4.4/5 for purchase mortgage.

By Michael Hewitt, Founder & Editor-in-Chief.

Our verdict

Rate fits buyers who want both online tools and a person: its digital platform closes in 21 days, and loan officers work from 400+ locations. The cost is an origination fee of 0.5% to 1% on most loans, and the website can overwhelm with options. Ask about the 60-day rate lock with float-down before you commit.

Skip it if you want to avoid origination fees, or if a crowded website full of options puts you off.

About Rate (Guaranteed Rate)

Hybrid digital-and-local model with competitive rates and fast closings. Rate (Guaranteed Rate) is offered by Guaranteed Rate, Inc. Our editorial rating is 4.4 out of 5.

Best for: Borrowers wanting local + digital support.

Editorial grade: A- (composite score 87/100).

Highlights

Digital Mortgage platform closes in 21 days
Local loan officers in 400+ locations
Rate lock up to 60 days with float-down option

What we like

Combines online convenience with local expertise
Competitive rates on conventional and jumbo loans
Strong customer service ratings

Where it falls short

Origination fees apply on most loans
Website can feel overwhelming with options

Fees, minimums, and rates

Monthly fee: 0.5%–1% origination. Minimum to open: $75,000. Current APY: 6.55%. Rates and promotional offers change often, so check the provider's own page before you apply.

How we reviewed it

This is a desk review: we have not opened an account with Guaranteed Rate, Inc.. It is built from Guaranteed Rate, Inc.'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Purchase Mortgage shortlist. The rubric is the same for every brand.

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Read our full editorial methodology for how we review products.