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.
Who is Guild Mortgage owned by?
Mary Ann McGarry is the CEO of Guild Mortgage. Under her leadership, Guild has grown to become one of the largest and most experienced independent mortgage lenders in the U.S. with close to 4,000 employees and 205 retail branches in 33 states. Ms.
Is Guild Mortgage a direct lender?
Across 40 states, Guild Mortgage Company offers our Consumer Direct Lending service to all our customers. Our team of experienced loan officers offers you the option of applying for and closing your loan from anywhere.
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.
How long has Guild Mortgage been around?
Guild Mortgage was founded in San Diego in 1960 by Martin Gleich.
What states is Guild Mortgage licensed in?
LicensingStateLicense InformationNew JerseyResidential Mortgage Lender LicenseNew JerseyNew Jersey RMLA-Licensed Mortgage Servicer RegistrationNew MexicoMortgage Loan Company License No. 01468North CarolinaMortgage Lender License No. L-15786072 more rows
How many employees does Guild Mortgage have?
A large finance company with 7,500 employees and an annual revenue of $5.5B, Guild Mortgage is headquartered in San Diego, CA. To provide affordable home financing, unsurpassed service, and a dedicated workforce to meet our customers' needs.
Does Guild Mortgage have prepayment penalty?
Guild Mortgage doesn't advertise interest rates or lender fees on its website, but a Guild representative confirmed the lender charges no prepayment penalties on its loans.
What is the minimum credit score for a Wells Fargo mortgage?
600For a Wells Fargo mortgage, you'll need a minimum credit score of 600 (with a down payment of 3% or more) to qualify for a conventional loan under the yourFirst Mortgage program.
Can you negotiate a better mortgage rate?
Most homebuyers start their house hunt expecting to negotiate with sellers, but there's another question many never stop to ask: “Can you negotiate mortgage rates with lenders?” The answer is yes — buyers can negotiate better mortgage rates and other fees with banks and mortgage lenders.
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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.
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.
What is Guild Mortgage?
Overview of the Company. The Guild Mortgage Company is a California-based mortgager. They offer FHA loans, mortgage loans, refinancing, and other programs. Guild Mortgage reviews vary widely online. This is to be expected from any mortgage company. Be warned, however.
Where is Guild Mortgage located?
They started out in 1960 in San Diego, California. To this day, most of their locations are centered on the West Coast of the United States.
How does Guild determine if you qualify for a mortgage?
Then, Guild will determine if you are eligible for a mortgage loan through their various mortgaging programs. An underwriter is assigned to the loan to determine the specifics of your loan, like interest rates and monthly payments. Some consumers have felt that the underwriters are often unprepared for the process.
How to learn about Guild mortgage rates?
In order to learn rates or availability of a mortgage, you must first create an account with Guild Mortgage. However, if you speak to someone in person or over the phone, you might be able to get more answers without signing up for anything. First, mortgagees fill out an application either online or in person.
How many states does the American Housing Guild cover?
In the beginning, the company acted as the sole mortgager for the American Housing Guild. In following decades, the company expanded their reach to 29 states, including Alaska and Hawaii.
Does Guild Mortgage give delayed responses?
Representatives have been known to give delayed responses to mortgagees’ questions. Worse still, the loan specifics will change right before closing, leaving little time to renegotiate. The Guild Mortgage Company appears to be making some efforts to respond directly to customers on certain reviews.
Does Guild Mortgage have flexible rates?
Guild Mortgage boasts flexible rates on their mortgages. According to one Guild Mortgage review, the rates are “only average” and the service was “terrible.”. Interest rates will depend on a few things: Other real estate properties owned. History of owning or renting property.
