Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
The bottom line: Guild Mortgage is one of the best lenders 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. 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.
About Guild Mortgage
Guild Mortgage offers the following types of home loans:
Conforming loansJumbo loansFHA loansVA loansUSDA loansReverse mortgagesRenovation loansDoctor mortgagesEnergy-efficient mortgagesManufactured loansBridge loans, short-term loans for a down payment if you need to move but haven’t sold your home yet3-2-1 Home Plus, which offers low-to-moderate-income, first-time homebuyers up to $2,500 in closing cost assistance and a $2,000 Home Depot gift cardPayment Advantage, a mortgage that comes with a temporary 1% interest rate reduction to lower your monthly payments for the first yearITIN mortgage for borrowers with an Individual Tax Identification Number who don’t have a Social Security number
You can apply for a mortgage online in any US state except New York. Guild Mortgage also has branches in 32 states, if you’d rather talk to someone face to face.
This lender can help connect you with down payment assistance in the form of loans or grants if you have a low-to-moderate income and need help financing a down payment. It also has its own Zero Down mortgage program that allows FHA borrowers to get a second mortgage that covers their down payment and closing costs.
Is Guild Mortgage Trustworthy?
The Better Business Bureau gives Guild Mortgage an A+ rating.
In October 2020, Guild Mortgage paid the United States $24.9 million to settle allegations of approving FHA mortgages for people who didn’t qualify, resulting in loan defaults.
Guild ranked above the industry average in J.D. Power’s 2022 Mortgage Origination Satisfaction Study. In 2021, it ranked No. 1.
Guild Mortgage Interest Rates and Fees
Unlike many lenders, Guild Mortgage doesn’t show mortgage rates online. Many companies show typical rates for 15-year and 30-year mortgages online, and some even let you customize your rate by entering your credit score, down payment amount, and zip code. But you’ll need to either talk to a loan officer or apply for preapproval to see Guild’s rates.
In 2022, the average borrower getting a conventional mortgage from this lender spent $4,179 in origination charges, according to Home Mortgage Disclosure Act data. This is about average compared to other lenders.
Guild Mortgage: Overall Rating
Feature Insider rating (out of 5)Types of loans5Affordability5Customer satisfaction4.5Trustworthiness4Total4.63
Guild Mortgage: Pros and Cons
ProsCons
Offers many unique mortgages, including bridge loans, energy-efficient mortgages, and mortgages for those who have no Social Security number
Zero Down program for FHA borrowers
Can apply with rental payment history if you have no credit score
Hybrid closing option keeps your closing appointment quick
Doesn’t have a home equity loan, HELOC, or construction loanCan’t see rates online without applying or providing contact information
Guild Mortgage 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?
It depends on which type of mortgage you get. You’ll need a 620 credit score for a conforming mortgage, but only a 600 score 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.
Is Guild Mortgage a good company?
Guild Mortgage is a good option for many types of home loans, especially if you have a low credit score or none at all. It also could be a good fit if you want to close on your mortgage digitally instead of in person.
What bank owns Guild Mortgage?
Guild Mortgage is a nonbank lender owned by Guild Holdings Company. Mary Ann McGarry is the current CEO of Guild Mortgage.
How Guild Mortgage Compares
Guild Mortgage vs. Fairway Independent Mortgage Corporation
Guild Mortgage and Fairway Independent Mortgage Corporation are two of the best mortgage lenders right now, though which one is right for you might depend on your needs.
Guild’s offerings are much more robust than Fairway’s. Plus, Guild’s Complete Rate program is a great option for borrowers with no score who need to use non-traditional credit data, such as rental payment history, to apply for their loan.
Fairway Independent Mortgage FHA Mortgages – Brand Name ranked No. 4 in J.D. Power’s 2022 satisfaction study, which is a bit higher than where Guild ranked.
Guild Mortgage vs. Rocket Mortgage
Rocket Mortgage is a great choice for borrowers who value strong customer service. It’s also one of the best mortgage refinance lenders. Rocket has more term length options, with terms as short as eight years.
But Guild Mortgage is better for people with no credit score, because Rocket Mortgage won’t look at non-traditional credit if you don’t have a credit score.
In 2021, Guild ranked No. 1 in customer service in J.D. Power’s Mortgage Origination Satisfaction Study, knocking Rocket out of the top spot. But in 2022, Rocket Mortgage – Brand Name retook the No. 1 spot, while Guild fell to No. 9.
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.