Business Insider's personal finance team reviewed Guild Mortgage and found it to be one of the best mortgage lenders available. Guild Mortgage earns a 4.50 out of 5-star rating from Business Insider, based on its loan options, affordability, customer satisfaction, and trustworthiness.
In particular, Guild Mortgage is one of the best lenders for first-time homebuyers thanks to its flexible credit requirements and variety of down payment assistance options. It also offers a huge range of mortgages. However, one thing we don't like is that it doesn't share its rates online, making it difficult to compare its loans to other lenders without getting preapproved first.
Guild Mortgage Pros and Cons
Pros
- Offers many unique mortgages, including bridge loans, energy-efficient mortgages, and mortgages for those who have no Social Security number
- Down payment assistance available, including zero down and 1% down programs
- Can apply with rental payment history if you have no credit score
- Minimum credit score for FHA and USDA loans is 540
Guild's Complete Rate program lets borrowers use other forms of credit to qualify if they don't have a traditional credit score. Instead, you'll use rent, utility, or car insurance payment history to establish your creditworthiness. This program is only available to first-time homebuyers.
You could qualify for an FHA loan or USDA loan from Guild with a score as low as 540. This is lower than what many lenders allow. FHA loans technically allow scores down to 500, but not every lender offers this option. If you have a score below 580, you'll need to put 10% down. USDA loans often require scores of 640 or higher.
Cons
- You'll need to talk to a loan officer before you can start an application
- Lacks rate transparency
If you're interested in getting a mortgage from Guild, you'll need to fill out a form to have a loan officer contact you first. If you're looking for a lender that offers a completely online process that lets you apply for preapproval quickly, Guild might not be the right choice for you.
Guild also doesn't display any sample mortgage rates online, so it's hard to get a sense of what it's current rates are like without submitting an application.
Get Mortgage Rates
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Conforming, jumbo, FHA, USDA, VA, reverse, renovation, manufactured, bridge, energy-efficient, doctor, 3-2-1 Home Plus, Payment Advantage, non-QM
- Offers many unique types of mortgages
- Has multiple types of down payment assistance
- Apply with rental payment history if you have no score
- Minimum credit score if 540 for FHA and USDA loans
- You'll need to have a loan officer contact you to start your application
- Can't see mortgage rates online
Guild Mortgage is our favorite lender for first-time homebuyers, thanks to its flexible credit requirements and easy online process. It offers a huge range of mortgages, making it a good option for many types of borrowers.
- Offers mortgages in every U.S. state except New York
- Show alternative credit data, such as utility bills, to help your application if you have no credit score
- Minimum credit score and down payment displayed are for conforming mortgages
Guild Mortgage Overview
Wide Footprint With Local Branches
Guild Mortgage lends in every U.S. state except New York. Guild Mortgage also has branches in most states, if you'd rather talk to someone face to face or get started with a local loan officer. Guild also acquired Academy Mortgage in February 2024, adding more than 600 new loan officers to its workforce, according to a press release.
Loan Options
Guild Mortgage offers the following types of home loans:
- Conforming loans
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- Reverse mortgages
- Renovation loans
- Doctor mortgages and home loans for nurses and other medical professionals
- Energy-efficient mortgages
- Manufactured loans
- Bridge loans, short-term loans for a down payment if you need to move but haven't sold your home yet
- Temporary buydowns, including Payment Advantage, a mortgage that comes with a temporary 1% interest rate reduction to lower your monthly payments for the first year. Guild also has other one-year, two-year, and three-year buydown options
- New construction home loans
- Section 184 loans for members of federally-recognized tribes
- Non-QM loan options, including ITIN mortgages and DSCR loans
- Home equity loans and HELOCs
Down Payment Assistance
Guild's 1% Down Payment Advantage Program lets eligible borrowers put just 1% down and get the other 2% in the form of a grant of up to $5,000.
It also has a Zero Down mortgage program that allows FHA borrowers to get a second mortgage that covers their down payment. And Guild's 3-2-1 Home Plus program gives low-to-moderate-income, first-time homebuyers up to $2,500 in closing cost assistance and a $2,000 Home Depot gift card.
You can also get a Fannie Mae HomeReady First loan from this lender, which comes with up to $4,500 in assistance, or a Freddie Mac BorrowSmart Access loan with $1,500 in assistance. Guild provides an additional $1,500 credit with both of these programs. You can see the metro areas these loans are available in on Guild's website.
Guild Mortgage Interest Rates and Fees
According to our review of Home Mortgage Disclosure Act data, Guild's mortgage rates are around average compared to other lenders.
Unlike many lenders, Guild Mortgage doesn't show its current mortgage rates online, so it's difficult to get an idea of what rates this lender is offering without applying for preapproval or talking to a loan officer.
In 2023, the average borrower getting a conventional mortgage from this lender spent $4,770 in origination charges, according to HMDA data. This is about average compared to other lenders.
Is Guild Mortgage Trustworthy?
Overall, we think Guild Mortgage is a trustworthy lender. The Better Business Bureau gives Guild Mortgage an A+ rating, and the lender has no recent major scandals.
What Borrowers Are Saying About Guild Mortgage
Business Insider looked at positive and negative customer reviews, online forums, BBB complaints, and other sources to understand what borrowers think about Guild Mortgage.
Easy Experience With Reliable Mortgage Pros
In reviews and comments online, previous Guild borrowers said that the loan officers they worked with were helpful and communicative, making the process easy for them. We didn't see any negative reviews that indicated a larger problem with the lender.
How Guild Mortgage Compares
Guild Mortgage vs. Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is one of the largest mortgage lenders in the country and offers a strong range of loans to choose from. Its offerings include physician loans, renovation loans, and reverse mortgages. Fairway also ranks high in customer satisfaction.
However, Fairway doesn't have any home equity options.
Fairway Independent Mortgage Corporation Review
Guild Mortgage vs. Rocket Mortgage
Rocket Mortgage is an affordable mortgage lender, and it ranks high in customer satisfaction. It's also one of the best mortgage refinance lenders. Rocket has more term length options, with terms as short as eight years.
But Rocket only offers a few basic types of mortgages, so you may prefer Guild if you need a more niche type of loan. However, Rocket does have its own 1% down mortgage program, called the ONE+ mortgage, which comes with a maximum grant of $7,000.
Why You Should Trust Us: How We Reviewed Guild Mortgage
To review Guild Mortgage, we used our methodology for reviewing mortgage lenders.
We look at four factors — loan types, affordability, customer satisfaction, and trustworthiness — and give each a rating between 1 and 5, then average these individual ratings for the overall lender rating. Lenders get higher ratings if they offer a high number of loan types with affordable features, have positive customer reviews, and don't have any recent public controversies.
Our Overall Lender Rating
Loan Types: 5 out of 5
Guild offers one of the most impressive range of mortgage products we've seen. Most borrowers should be able to find what they're looking for with this lender.
Affordability: 4.5 out of 5
This lender offers many low down payment mortgage options, various forms of down payment assistance, and loans that allow low credit scores and non-traditional credit. But its typical rates and fees are just average.
Customer Satisfaction: 3.49 out of 5
Guild ranked a bit below the industry average in J.D. Power's 2024 Mortgage Origination Satisfaction Study. But on its Zillow lender profile, it has a 4.97 out of 5-star rating, based on over 42,000 customer reviews.
Trustworthiness: 5 out of 5
Guild Mortgage has an A+ rating from the BBB. The BBB measures trustworthiness based on response to customer complaints, honesty in advertising, and transparency about business practices. The lender also has no recent major scandals.
FAQs
Is Guild Mortgage legitimate?
Guild Mortgage is a legitimate mortgage lender that's been in business since 1960. It has an A+ rating from the Better Business Bureau.
Does Guild Mortgage sell their loans?
Guild Mortgage notes on its website that it does service its own loans, but it doesn't mention whether it services 100% of those loans. So if you get a mortgage with this lender, it's possible your loan could be sold.
What is the minimum credit score for Guild Mortgage?
Guild's minimum credit score is 620 for a conforming mortgage, but only 540 for an FHA loan. Guild Mortgage also accepts rental payment history from borrowers who don't have a traditional credit score.
Is Guild Mortgage a direct lender?
Yes, Guild Mortgage is a direct lender. This means it originates its own loans, as opposed to a mortgage broker, which connects borrowers with multiple lenders to find the best fit.
Are Guild's mortgage rates good?
Compared to other lenders, we found Guild's mortgage rates to be around average, based on our review of HMDA data.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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