This article will provide you with useful insights into how you can apply for Guild Mortgage loan online via Guild Mortgage.com along with a simplistic log-in guide.
Guild mortgages, one of the fastest growing online lenders, have come with their own unique offerings marking their distinctiveness from the swarm of online mortgage lenders. These enticing offerings if put tersely include a low down payment rate and expediting the closing process within a matter of 17 days, which is way too less from the industry level that stands at 51.
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These are the steps that in general need to be taken care of if you are applying for a Guild Mortgage loan via their website.
Here is the entire loan application process that would give you a blueprint of how to go about Guild Mortgage loan application
For the initial online application with Guild Mortgage, no documents are required; however, the actual mortgage application will require the following documents:
It’s important while you are seeking a loan to provide details of your credit score and if it is bad then you will be going through a hard time in finding one and no institution vests their interests on borrowers with a bad credit history. Before you apply make sure that you know what your credit score is and the potential APR that you may have to pay. The higher the credit score, the lower the APR.
Now, once you are cognizant of your credit score, you can finally embark upon the journey of knowing their loan requirements. Some will list the required credit score on their websites while others won’t.
Now, the next thing you may want to do is compare different offers based on the factors consisting of Estimated APR, fee and penalties, loan amount and length, monthly payment collateral required or not. All of this will help you settle down on a loan offer.
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Now, the stage comes where you will have to apply through the lender. This process would require a hard credit check or hard pulls which can impact your credit score for they will be
assessing your credit history and making a note of their officials all the way
into your credit reports. However, it lasts only for 2 years in your credit report and can impact it for only a year.
Now, after all the inquiry you will finally be able to receive your funds via simple signing a loan agreement that would not require much of a hassle as it will be done online. Don’t’forget to go over the terms and conditions before you make those strokes.
What you need to know before applying for a Guild Mortgage loan via Guild mortgage.com
Before we embark on the unappealing journey of Guild Mortgage application, being a financial product it is incumbent upon us that we provide you with a brief overview that may help you compare its services and different mortgage offerings with other online lenders.
The reason why people avert their gaze from traditional lending is the unyielding and daunting paperwork that they have to go through and that too intertwined with the lack of an expert becomes nauseating often. With Guild mortgage, you will have 3 options, whether you want to apply for Guild Mortgage online via GuildMortgage.com, via phone, or if you have a penchant for the in-person loan application then they have their physical existence in the form of branches as well in 33 states and does not operate in New Jersey and New York in Totality.
The list of products offered by Guild Mortgage doesn’t confine to conventional loans alone. It also includes:
Once you log in to your guild mortgage account, an application via guild mortgage is deliberately made to be minimalistic. In this step, everything from documents upload to gleaming of assets and income information along with submission is offered by Guild mortgage with a paperless loan application process guarantee via GuildMortgage.com.
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Well, as it turns out Guild Mortgage doesn’t have every financial product in its inventory as suggested by the fact that it doesn’t offer home equity loans.
Before you apply for Guild Mortgage loans via Guild mortgage.com, the very important thing that would invigorate your borrowing decision is the fact that how much interest rate would you have to pay or what’s going to be your lender fee. But, they do offer product by product minimum credit score that you would require in order to get approved. It is:
Closing costs on the Guild Mortgage loans include an origination fee. The company claims that the origination fees are subject to variance as per the market and may consist of $275 for documents preparation, $350 for underwriting, $295 for administration, and lastly a $500 processing fee.
Guild Mortgage is indeed a prolific mortgage lender for those customers who are beelining for good customer service as well as those who are novice to the borrowing game. When it comes to the Guild Mortgage loan application process, it is as easy as it can be. Once you head to their website you will find various educational material yourself that will help you make more informed choices and of course, once you have opted for them as your lender the loan officer will be in touch with you via phone or email and will escort you through the process.