What kind of mortgage is Guild Mortgage?
Guild Mortgage is a San Diego-based lender established in 1960 and focused on residential home loans. Guild Mortgage offers buyers in 42 states a full suite of mortgage products, including conventional loans, government-backed mortgages and jumbo loans. Offers a variety of mortgage products.
How many states does Guild Mortgage offer home loans in?
Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure Guild Mortgage offers a wide range of home loans in 48 states. Whether you’re a first-time homebuyer, a veteran or retiree, or need a bridge loan to smooth things over, Guild likely has a mortgage to suit your needs.
Is Guild a good company to buy a house?
Whether you’re a first-time homebuyer, a veteran or retiree, or need a bridge loan to smooth things over, Guild likely has a mortgage to suit your needs. The company also comes highly rated by past customers, with thousands of reviewers collectively giving it a solid 5 out of 5-star rating on Zillow.
Where can I apply for a Guild Mortgage?
You can apply for a Guild mortgage everywhere in the US except New Jersey and New York. Guild mortgage has branches in 31 states (dark blue). In states without branches (light blue) Guild is available online or over the phone. Guild has 250+ branches and offices in 31 states across America.
What type of lender is Guild Mortgage?
independent mortgage lenderGuild Mortgage is a leading independent mortgage lender in the United States, specializing in residential home loans.
What credit score do you need for Guild Mortgage?
Guild requires a minimum FICO score of 640 to qualify.
Is Guild Mortgage Fannie Mae?
Guild offers the Fannie Mae HomeStyle renovation loan, FHA 203(k) limited loan, and FHA 203(k) standard loan.
Who bought Guild Mortgage?
RMS(“RMS”) today announced the signing of a definitive merger agreement under which Guild will acquire RMS. Guild expects the transaction to be accretive to 2021 earnings per share and to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions.
How is the interest rate?
The interest rate is the amount charged on top of the principal by a lender to a borrower for the use of assets. An interest rate also applies to the amount earned at a bank or credit union from a deposit account.
What is a FHA home loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. FHA home loans require lower minimum credit scores and down payments than many conventional loans, which makes them especially popular with first-time homebuyers.
Who is acquirers Guild?
Founded in 1991, RMS has 70 offices across 14 New England and Mid-Atlantic states. The company specializes in conventional and government lending. In 2020, RMS generated $8.5 billion of loan originations, achieving a compounded annual growth rate of 26% since 2010.
Who owns RMS mortgage?
Guild Mortgage LLC.Residential Mortgage Services Inc. is now a part of Guild Mortgage LLC. For information purposes only and is not a commitment to lend.
What is Guild Mortgage?
Guild Mortgage is an independent mortgage company offering services in 48 states. The company was founded in 1960 and offers every type of mortgage loan, including specialized services for first-time homebuyers and consumers with excellent credit.
What is the average interest rate for a guild mortgage?
Guild Mortgage's interest rates vary based on your creditworthiness and other personal factors. While Guild doesn’t publish any of its rates, the average 30-year rate on a fixed-rate mortgage in 2020 has been between 3.3% and 4%. For the lowest possible rate, make sure you apply to different lenders and compare their rates and fees before you commit to a loan.
How long has Guild Mortgage been in business?
Overview. Guild Mortgage has been in business since 1960, making it one of the oldest independent mortgage companies in America. And the company only seems to be growing in popularity. In fact, Guild Mortgage says it's grown 16-fold since 2007.
What is guild service?
Guild offers the full spectrum of customer service options, from in-person service to a fully online experience. As a customer, you can choose what suits you best. When you start out on the company’s website, you have two options. You can find a loan officer near you or begin an online application.
How many branches does Guild have?
In states without branches (light blue) Guild is available online or over the phone. Guild has 250+ branches and offices in 31 states across America. That sounds a lot, but with such a large landmass, many borrowers will find the locations are too far from home for in-person visits.
Does Guild do a credit pull?
Guild doesn’t do a hard credit pull right away, so checking rates won’t hurt your score. But remember to compare personalized rates from a few other lenders, too. That’s the only way to truly know which is the best mortgage lender for you. Show me today's rates (Jul 23rd, 2021)
Does Guild offer mortgages?
Of course, mortgage rates vary by customer. So Guild may or may not give you the best offer. You'll have to compare loan estimates from a few mortgage lenders to find out.
Is Guild loan origination fee higher?
Guild seemed to have a slightly lower rate on average than these other companies. But its loan origination fees were a bit higher. Of course, offers vary by customer. So your rates and fees from Guild could be higher or lower than average. To find out, you’ll need to request a custom loan estimate.
Does Guild Mortgage advertise current rates?
Guild mortgage rates and transparency. Guild Mortgage doesn’t advertise current rates on its website. That means you can’t skim to see how it compares with other lenders’ advertised rates. You’ll have to actually apply and get a quote to see what you can get.
Term Length
Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Our take on Guild Mortgage
Guild Mortgage offers a wide range of home loans in 48 states. Whether you’re a first-time homebuyer, a veteran or retiree, or need a bridge loan to smooth things over, Guild likely has a mortgage to suit your needs.
Guild Mortgage requirements
The eligibility requirements vary by loan type. In general, you need a credit score of at least 620 for a conventional loan. Guild Mortgage suggests capping the mortgage payments and other monthly debt obligations to 30% of your gross monthly income.
Costs and fees
Fees vary by loan type, but there are some common costs to consider when planning out your purchase or refinance.
Speak to a loan officer to begin the application process
To apply for a Guild Mortgage home loan, you’ll need to speak with a loan officer at the company first. To get started, go to the Guild Mortgage website and select Get Prequalified Today. Fill out the contact form and wait to be contacted by a loan officer licensed in your state.
Compare mortgage lenders
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Guild Mortgage reviews and complaints
Guild Mortgage has a 3.7 out 5 rating on ConsumerAffairs.com from 160 reviewers as of September 2021. But reviews are mixed: some customers mention great communication and service from loan officers while others complain they can’t get anyone on the phone.
Our Take
NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.
Full Review
The coronavirus pandemic introduced some new challenges to getting a mortgage. Many lenders facing high loan demand and staffing issues increased their fees, adjusted minimum required credit scores or temporarily suspended certain loan products.
Guild Mortgage at a glance
Guild Mortgage has a higher profile in the Western states, including Colorado and Idaho.
Guild Mortgage loan types
San Diego-based Guild Mortgage began its business one neighborhood at a time, initially offering loans only for homes built by the American Housing Guild.
Guild Mortgage ease of application
Guild’s digital mortgage platform offers a paperless loan application, along with document upload and the retrieval of income and asset information from many employers and financial institutions. Consumers can also use the portal to keep track of their loan’s status.
Guild Mortgage rates and fees
One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. In order to provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates, according to the most recently available Home Mortgage Disclosure Act data:
Guild Mortgage rate transparency
You won’t find mortgage rates on the Guild Mortgage website; you’ll need to speak with a loan officer for those.