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Guaranteed Rate Guaranteed Rate

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Guaranteed Rate was started in June of 2000 and in less than three years has become the largest, independent residential mortgage lender in the Midwest. The company has achieved double-digit growth in loan volume each year, going from $195 million in its first year of operation, to $1.5 billion by 2004.

The company’s innovative and unique approach to mortgage lending has been the key to its phenomenal success. Taking the best practices from market leaders in other industries and applying them to the mortgage business, Guaranteed Rate has instituted innovative systems and technologies that have significantly reduced the company’s overall operating costs — a savings that is passed on to consumers by offering the lowest rates and fees in the market.

These innovations have also produced a much higher level of customer service. The application process has been streamlined and automated so that a customer can apply online and get pre-approved within one hour. Much of the underwriting process has also been automated; reducing the total time a customer is able to close their loan from months to days.

Guaranteed Rate is the first consumer advocate mortgage company that provides consumers with a true “apples-to-apples” comparison of mortgage rates and fees of the top lenders in the market. It researches the competition daily and posts the results of this research on the website. Based on the company’s market research, Guaranteed Rate has offered the lowest 30-year fixed rate and fixed fees in the Chicago area 99.28% of the time since January 2001.

The company has developed a partnership with more than 500 of the area’s top real estate agents by consistently delivering the lowest rates and five-star service to their clients and because Guaranteed Rate:

  • Is HUD approved
  • Offers a wide range of products
  • Delivers a free pre-approval in one hour
  • Has an In-house Underwriting staff for quick turnaround times
  • Has onsite Closing and Funding Departments to deliver checks at closing, no waiting for wires


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