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Guild Mortgage is an independent mortgage lender that specializes in residential home loans. At Guild, you’ll find conventional mortgages, government-backed loans, and reverse mortgages, as well as down payment assistance programs and manufactured home loan programs.
Based in San Diego, the company has been in business since 1960 and has been named a top mortgage lender by several publications. Read through this Guild Mortgage review to learn more about what it has to offer and how you can compare rates from multiple mortgage lenders to find the right fit for you.
In this review:
- Guild Mortgage process
- Guild Mortgage purchase review
- Guild Mortgage refinancing review
- How Guild Mortgage can improve
- Compare multiple lenders first
Guild Mortgage process
You can find a local Guild Mortgage branch and apply for a home loan in person, or, if you prefer, you can apply online.
After you apply and the underwriter gives preliminary loan approval, Guild guarantees to close your loan as long as there are no changes to your application or credit profile.
In the event the loan doesn’t close, Guild will reimburse up to $1,000 in appraisal, inspection, and relocation expenses, and up to $5,000 in lost earnest money, if applicable.
Guild Mortgage’s eClose program lets you sign most of your loan documents digitally. The eClose program isn’t available for all Guild Mortgage products, and state law might restrict its use in some states.
But if it’s an option for you, eClose can make documents available for your review sooner, and reduce your closing appointment to just a few minutes.
Learn More: Mortgage Application Guide: How to Apply for a Mortgage
Guild Mortgage purchase review
Best for:
- Borrowers wanting a closing appointment with minimal person-to-person contact
- Borrowers looking to make a manufactured home purchase
- Borrowers who are first-time homebuyers and need down payment assistance
On top of fixed-rate and adjustable-rate loans, Guild Mortgage offers government-backed mortgages from the FHA, VA, and USDA. Jumbo loans and renovation loans are also available.
First-time homebuyers and other eligible borrowers can apply for down payment assistance through Guild Mortgage. Guild works with county programs throughout the U.S. to find down-payment loans and grants for its eligible customers.
In addition to providing standard loan types, Guild offers Fannie Mae’s MH Advantage, a mortgage loan intended for families who want to purchase a manufactured home.
Mortgage purchase programs | Conventional, FHA, VA, USDA, jumbo, manufactured home, renovation |
Fixed-rate loan terms | 10 to 30 years |
Variable-rate loan terms | 5, 7, 10 years |
Rates and fees | Varies by loan, loan amount, location, buyer’s qualifications.
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Min. credit score |
Check with lender for other loan types |
Min. down payment |
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Guild Mortgage refinancing review
Best for:
- Borrowers age 62 or older who are seeking a reverse mortgage
- Borrowers wanting to renovate their home
- Borrowers looking to reduce interest or lower monthly payments on their current loan
Many of Guild Mortgage’s purchase loans are also available for mortgage refinance. If you have enough equity, you can even withdraw some cash via a cash-out refinance.
Guild Mortgage doesn’t offer home equity loans or HELOCs, but it does offer reverse mortgages. A reverse mortgage, also referred to as a home equity conversion mortgage, provides a lump sum or line of credit against the equity in your home.
Unlike standard home equity loans, however, you don’t have to repay a reverse mortgage as long as you live in the home.
Learn more about refinancing:
How Guild Mortgage can improve
As other Guild Mortgage reviews show, Guild is a reputable mortgage lender that offers the convenience of managing most of the loan process online. With a few improvements, Guild would appeal to even more borrowers:
- Seeing Rates: Getting rate information requires creating an account on the Guild Mortgage website or contacting a mortgage representative. Allowing users to view rates without divulging contact information — or an explanation of how the information will be used — would be a significant improvement.
- Products: While Guild does offer a reverse mortgage, it doesn’t offer traditional home equity loans or lines of credit. Such loans would be a useful addition to Guild’s product line.
- Technology: Guild Mortgage doesn’t have a mobile app where customers can manage their loans. That’s a serious omission for a lender that has an online platform. In addition, the website is very bare-bones. Although the basic product pages give specific information about the loans, other topics, like the eClosing program and closing guarantees, are more difficult to find.
Compare multiple lenders first
Before you commit to Guild Mortgage — or any lender — be sure to shop around to see how other mortgage lenders compare.
Credible makes it easy to compare prequalified rates from all of our partner lenders. Once you’ve found the right fit, you can finalize your loan in just a few minutes — and the whole process is completed entirely on our platform.