Guaranteed Rate mortgage review: Choose from a variety of loans, and you don't need a credit score

Minimum credit score and down payment are for conforming mortgages.

Overall lender rating

Pros and cons

Guaranteed Rate mortgage rates

Guaranteed Rate posts sample mortgage rates online, along with information like national average rates for comparison and other expenses you should consider when budgeting for a home.

These sample rates are based on certain assumptions, though, including a state of residence and credit score. You can't tailor the details to your personal information to see a customized rate online. You'll need to contact the lender or fill out a form.

Guaranteed Rate's mortgage rates are competitive with the national averages right now, so you could get a good rate.

How Guaranteed Rate compares

We've compared Guaranteed Rate to two other lenders that operate in all 50 US states: Rocket Mortgage and Fairway Independent Mortgage Corporation.

You'll need to use Guaranteed Rate or Fairway for a USDA mortgage. Guaranteed Rate also has interest-only mortgages, and Fairway offers reverse mortgages and renovation loans.

You also may like Guaranteed Rate or Fairway if you don't have a credit score. Both accept alternative credit data, like proof that you pay bills on time, in lieu of a credit score. Fairway may even accept this data if you have credit score that is low. Rocket Mortgage requires a credit score, though.

You might like Rocket Mortgage if customer service is a main priority. Rocket Mortgage has ranked as the top lender for customer satisfaction from JD Power for 11 consecutive years.

How Guaranteed Rate mortgages work

Guaranteed Rate is an online lender that offers mortgages in all 50 US states and Washington, DC. You can get the following types of home loans from Guaranteed Rate:

• Conforming
• Jumbo
• FHA
• VA
• USDA
• Fixed-rate
• Adjustable-rate
• Interest-only - Not many big-name lenders offer interest-only mortgages, so Guaranteed Rate is a strong option if you're looking for this type of home loan.

You can do a regular rate-and-term refinance or a cash-out refinance.

If you don't have a credit score, you may show Guaranteed Rate alternative financial data to be approved for a mortgage. The lender doesn't consider alternative data if you already have a score, though.

Contact customer service Monday through Friday. Exact hours depend on whether you're calling about a new home purchase, an existing loan, or another reason.

Is Guaranteed Rate trustworthy?

The Better Business Bureau gives Guaranteed Rate an A- in trustworthiness. A strong BBB score indicates that a company responds effectively to customer complaints, is transparent about business practices, and advertises honestly.

The BBB gives Guaranteed Rate an A- rather than an A+ because the government has taken action against the lender.

Guaranteed Rate is paying the government $15 million. A former employee claimed that the lender pressured underwriters into lying so that the government would insure FHA and VA loans. The Department of Justice said that the lender attempted to stop these illegal practices even before the federal investigation began, though.

Mortgage and refinance rates by state

Check the latest rates in your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming