Mortgages

Guaranteed Rate Mortgage: how to apply

This article will show you how to get a Guaranteed Rate Mortgage. Find out why the application process is much easier than you might think. Start your homebuying journey today!

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Guaranteed Rate Mortgage: Simple and fast application

Guaranteed Rate logo
Learn how to apply for Guaranteed Rate Mortgage! Source: The Insider Advisor

If you’re interested in learning how to apply for the Guaranteed Rate Mortgage, you’re in the right place. This lender offers a variety of home loans for those who want homeownership.

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Mortgage

Guaranteed Rate

Fast Easy

Rate and fees transparency. Full-digital application process!

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Plus, it provides a simple and fast application process in which borrowers can personalize their interest rates. Keep reading to learn more about it! Let’s get started!

How to apply on the website

The application process for this lender starts on the Rate.com website. Right on the first page, select the “Get Started” option, and you’ll be redirected to the pre-qualification form.

Then, you’ll have to provide some information regarding the home loan you want.

And this includes if you’re going to purchase or refinance, the property price and location, the down payment you intend to make, and your credit score.

After providing the requested information, you’ll access multiple home loan options with personalized interest rates, fees, and terms.

This way, you can choose the loan option that best fits your needs.

After choosing an offer, you’ll start your actual application process. Therefore, you’ll have to provide some additional information.

The application process is fully digital. As a result, you can enjoy the convenience of uploading documents and even e-sign the paperwork.

Guaranteed Rate Mortgages also provide a virtual checklist, allowing you to track your home loan status throughout the application process.

Requirements

To qualify for Guaranteed Rate Mortgage, you must meet some requirements. First, you must have a minimum credit score of 620 for conventional and 700 for jumbo loans.

Also, you’ll have to provide proof of your income, assets, and credit. Regarding the debt-to-income ratio, borrowers cannot exceed 45%.

Apply on the mobile app

Besides its ease of application, Guaranteed Rate Mortgage provides an excellent mobile app for its customers.

The GR Loans mobile app can be downloaded through the Apple Store and Google Play Store. It allows borrowers to apply for this lender easily and get preapproved in minutes.

Among its main features, the GR Loans mobile app allows clients to manage track their application status and manage their mortgage.

Find other loan options: Mr. Cooper Mortgage

Young businesswoman thinking about something while sitting front
Find other lender’s options! Source: Freepik

If Guaranteed Rate Mortgage didn’t seem like the right lender for your need, we’ve got you! Here we have another great mortgage option ready.

Mr. Cooper Mortgage is a home loan company that provides its customers with a full-digital application and multiple loan options.

It provides home loans throughout the U.S., including Puerto Rico and U.S. Virgin Islands.

Additionally, Mr.Cooper Mortgage customers can enjoy some exclusive benefits, such as Mr. Cooper’s Zero Dollar Move program and Close on Time Guarantee.

Below, let’s compare the main benefits of both lenders to help you make a more informed decision!

Guaranteed Rate MortgageMr. Cooper Mortgage
Credit ScoreAt least 620;580 or higher;
Loans OfferedPurchase and refinance. Jumbo loans, Fixed- and Adjustable-rate loans, FHA, VA, and USDA;Conventional loans, FHA, Va, fixed and adjustable-rate, rate-and-term, cash-out, streamline refinancing, and investment property;
Minimum Down PaymentAs little as 3%; 0% to 3.5%, depending on the home loan;
APRSee terms;See terms;
TermsUp to 30 years.15 up to 30 years.

Read the following article if you’re interested in learning more about Mr. Cooper Mortgage. We’ll cover the application process and minimum borrowing requirements in detail!

Mr. Cooper Mortgage logo

Mr. Cooper Mortgage: how to apply

Find out how to apply for the Mr. Cooper Mortgage today! Prequalify you with no credit damage and enjoy rate transparency! Read on for more!

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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