Guild Mortgage Review 2024

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Min. Down Payment

Min. Credit Score

Min. Down Payment

Min. Credit Score

Min. Down Payment

Min. Credit Score

What Types of Mortgage Loans Does Guild Mortgage Offer?

Guild Mortgage offers traditional and special mortgage products ranging from conventional loans to first-time homebuyer programs with down payment assistance.

Guild Mortgage’s loan options include:

Conventional mortgages
Mortgage refinancing
Adjustable-rate mortgages
U.S. Department of Agriculture loans
Department of Veterans Affairs loans
Federal Housing Administration loans
Jumbo loans

The lender’s specialty products include mortgages through the Fannie Mae MH Advantage program, which offers loans for manufactured homes that have construction features similar to single-family homes. Loans in this program can have a loan-to-value ratio of up to 97%.

Erin Watts, vice president of product strategy for Guild Mortgage, says the company specializes in working with first-time homebuyers and has long offered government-sponsored loans, but has a range of products. “A substantial portion of our business is FHA, VA and USDA loans.”

How Does Guild Mortgage Work?

You can get preapproved for a mortgage through the lender’s digital application, and Guild also offers an online prequalification calculator where you can estimate your maximum purchase price. You can apply for a loan online by providing information about yourself, your financial situation and your desired loan. If your closing is delayed and Guild is exclusively responsible, the lender might give you $500 to help pay for closing costs through its 17-Day Closing Guarantee.

What Are Guild Mortgage’s Terms, Fees and Conditions?

Guild Mortgage offers seven- and 10-year ARMs and fixed-rate mortgages with terms between 10 and 30 years. Guild Mortgage offers VA and USDA loans with no down payment and FHA loans with a 3.5% down payment. Conventional loans are available with a 3% down payment. Closing costs on your loan can include an origination fee. You may also have to pay up to $7 to make an online payment on your loan.

What Discounts Does Guild Mortgage Offer?

If Guild is at fault for a closing delay on a home that was under contract at least 17 days ahead of the scheduled closing date, qualifying customers will receive $500 to help cover closing costs.

How Can You Qualify?

You can submit an online application to be preapproved for a loan from Guild. You may be eligible for a USDA or FHA loan from Guild with a credit score as low as 540. For a conventional loan, you’ll need at least a 620. Loans of up to $3 million are available with jumbo loans.

What Credit Score Do You Need?

Your credit score can be as low as 540 to get a USDA or FHA loan from Guild. If you want a conventional loan, your score must be 620 or higher. Your debt-to-income ratio and employment may also affect your ability to get a loan.

Where Does the Lender Operate?

Guild Mortgage is a direct lender in 42 states and has branches in 33 states. Guild can service mortgages in 48 states and the District of Columbia, with New York and New Jersey excluded.

Is Guild Mortgage Reputable?

Guild Mortgage has a B+ rating from the Better Business Bureau and is BBB-accredited. In 2021, the Consumer Financial Protection Bureau received 38 mortgage-related complaints for Guild Mortgage. The most common complaints involved:

Problems with the payment process.
Closing on a mortgage.
Struggling to pay a mortgage.

Guild Mortgage provided a timely response to all but seven complaints. The lender closed 36 with an explanation, and two were still in progress as of January 2022.
In October 2020, Guild Mortgage settled with the Department of Justice and paid $24.9 million in response to a whistleblower lawsuit alleging that it knowingly broke government rules in issuing FHA loans.

Guild Mortgage has an overall 4.6-star rating out of 5 from U.S. News, with 4 stars for affordability, 5 stars for customer service and 4 stars for eligibility. The average for mortgage lenders in U.S. News’ ratings is 4.3.

How Is Guild Mortgage’s Customer Service?

Customers with a mortgage from Guild can call 800-365-4441 Monday through Friday from 6 a.m. to 5 p.m. Pacific Time. If you’re looking to refinance or get a new home loan, you can call 800-971-3864 Monday through Friday from 8 a.m. to 5 p.m. PT, or you can call Guild’s express lending line at 800-283-8823 weekdays from 8:30 a.m. to 6 p.m. PT. You can also reach Guild via email. To ask about a delinquent loan or loan modification, you can email loancounseling@guildmortgage.net. If you have applied for a loan, you can check your application status by contacting myappstatus@guildmortgage.net. For information about a new loan or refinance, you can email explmail@guildmortgage.com or reach out to a local branch.

What Are Some of Guild Mortgage’s Online Features?

Homebuyers can submit an online application, including online validation of income and assets. Using Guild Mortgage’s online tools, you can upload documents and manage checklists for closing on any mobile device. Offline support is available and closing is done in person, though you can usually sign most documents online ahead of your closing appointment.

“Many borrowers prefer to submit their application online, but a mortgage is a complicated and sometimes intimidating process,” says Watts. “In our experience, many customers still want to be able to turn to a professional to get their questions answered, from the original application through closing.”