Finding a loan that fits
When it comes to home financing, there are a lot of options out there. And like baseball gloves or your favorite pair of jeans, it has to fit just right. There can also be a lot of questions to consider as you search for the perfect loan. Are you a first-time homebuyer, or purchasing a second home? Do you plan to be in your home for the long-haul or are you on a shorter timetable? Do you envision moving into a newly built home or are you looking to move in and make it your own with renovations?
A conversation with one of our loan officers will help determine what fits you best, but here is a sampling of our options, each of which has unique benefits advantages:
Guaranteed Rate’s fast and transparent mortgage process features:
- Inhouse underwriting and closing
- 24 hour underwriting turn times
- Full electronic closings offered with FlashCloseSM eClose1
- Online REAL loan approval – fast & easy2
- 96% companywide customer service rating3
- Licensed in all 50 states and Washington, D.C.
FHA Purchase Loans— Generally include a lower down payment and flexible credit requirements
- Down payment options start at 3.5%
- Down payment and closing costs may be gifted4
USDA Loans— These government-backed loans are often for rural areas, for purchase or refinance
- 100% financing options available
- No private mortgage insurance (PMI)
- Only applies to designated rural properties
Conventional Loans— Offering both fixed-rate and adjustable rate mortgages
- No mortgage insurance requirements for borrowers with options less than 20% down
- Finance 2-4 unit property with 5% down options
Jumbo Loans— Ideal for higher loan values
- Top 5 National retail jumbo lender5
- For borrowers in the market for a home loan above $510,4006
VA Loans— Available to active and former military and their family, with unique financial benefits
- For 2020, we are waiving our $1290 lender fee on VA loans7
- For qualifying veterans who want 100% financing options
- No PMI
- Loan options up to $1.5M
New Construction Loans— Allow buyers to lock in rate and secure a new home as it’s being built
- FHA, VA, Conforming and Jumbo Extended Locks
- Lock options up to 12 months
- 2-1 temporary rate buydown available8
- Financing options to include post-closing upgrades
- Enhanced escrow holdback waiver program
Renovation Loans— Lock in rates and turn any house into your perfect home
- FHA 203(k) and Fannie Mae HomeStyle options
- Down payment options as low as 3%
- Purchase or no-cash-out refinance allowed
1 FLASHCLOSE is a service mark of Guaranteed Rate, Inc. Not eligible for all loan types, or investors. Conventional loans only. Eligible for primary, 2nd home and investment properties. Title company restrictions may apply, not eligible for HFA programs. Full eClose is not currently eligible in California, Connecticut, Delaware, Georgia, Maine, Massachusetts, Mississippi, New York, North Carolina, Rhode Island, South Carolina, Vermont, and West Virginia.
2 “Real Approval” means an automated underwriting system approval based upon credit information supplied by applicant and subject to Guaranteed Rate’s review of loan documents. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.
3 96% Customer Satisfaction: Data Source: Guaranteed Rate’s Client Satisfaction Surveys (Averaged 2015-2019)
4 Gift funds may be allowed for down payment and closing costs for borrowers who meet FICO score minimums. Restrictions apply.
5 2019 National Ranking by volume reported as of 03/30/2020 provided by insidemortgagefinance.com. Other institutional lenders, private individuals and housing finance agencies have been removed.
6 Conforming loan limits are even higher in counties that are considered high-cost areas. To view the FHFA’s new baseline for your location, visit fhfa.gov. Guaranteed Rate Affinity is not affiliated with the Federal Housing Finance Agency.
7 Waived lender fee available for VA loans that have a triggered RESPA app date as of January 31, 2019 through January 1, 2021 at 12:00am EST. This offer does not extend to HFA loans. ‘Triggered RESPA’ in accordance with Regulation X, is defined as lender receipt of all six pieces of information received in a secure format; applicant name, property address, home value, loan amount, income and SSN. Not all borrowers will be approved. Borrower’s interest rate will depend upon the specific characteristics of borrower’s loan transaction, credit profile and other criteria. Contact Guaranteed Rate for more information and up to date rates.
8 Conforming loans only. Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.