Guaranteed Rate Launches End-to-End Fixed-Rate Digital HELOC to Leverage Growing Home Equity Across the Country
New Offering Part of Company’s Growing Fintech Product Suite
CHICAGO, July 11, 2022 /PRNewswire/ — Guaranteed ratea leading mortgage lender committed to being the best fintech in the country, is proud to announce that its new home equity line of credit (HELOC) has launched and is available in 41 states and washington d.c. This innovative new product is 100% digital from application to closing, with application taking only 5-10 minutes to complete and approval in just moments.
US homeowners gained a whopping 35% in equity in 2021, prompting more and more homeowners to choose to tap into the value of their homes to pay off high-interest debt or finance construction projects. home improvement without affecting the low mortgage rate of their home. Guaranteed Rate’s new fixed-rate HELOC is designed to help them access that value quickly and simply through an end-to-end digital platform.
“Guaranteed Rate is poised to be the best fintech in the country to help clients, and our ultra-fast and convenient end-to-end Fintech HELOC product is just one example of how we are doing that,” said the President and CEO of Guaranteed Rate. Victor Ciardelli. “Our HELOC is set up to provide the customer with an application they can complete in minutes, and they will receive their money in days. There is no one involved at all – our technology does all the work.”
Guaranteed Rate’s new digital end-to-end HELOC offers clients a fixed rate and a fixed term of up to 30 years, and clients can then draw on the line of credit for a period of 2 to 5 years, depending chosen term, at the market rates then in effect. Additionally, traditional HELOC funds from a bank can take up to 45-60 days to fund, while new Guaranteed Rate HELOC funds only take 5 days. Best of all, Guaranteed Rate’s new end-to-end digital HELOC requires no upfront payment from the customer (all fees are included in the loan amount).
“We believe that our fixed rate, end-to-end digital HELOC is the best product of its kind on the market,” said Raman Muralidharan, President of New Guaranteed Rate Financial Products. “Not only does it beat traditional HELOCs by offering a fixed rate, but it also takes much less time to apply and funds are much faster than other HELOCs.”
Since interest rates have risen dramatically, more and more homeowners in need of cash will look to HELOCs as a smart and affordable option. “By providing our customers with a fixed rate HELOC option along with the ability to draw digitally from the comfort of their own homes when needed, Guaranteed Rate addresses some key customer needs,” said Arun TripathiResponsible for New Secured Loans at Guaranteed Rate.
To learn more about Guaranteed Rate’s new HELOC, visit rate.com/heloc.
About Guaranteed Rate Companies
Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Based at Chicagoguaranteed rate companies have more than 10,000 employees in more than 850 branches across the United States, serving all 50 states and washington d.c. Since its launch in 2000, Rate Guarantee Companies have helped more than one million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has established itself as an industry leader by introducing innovative technology, offering low rates and offering unparalleled customer service. Honors and awards include: Best Lender for Online Service for 2018 by US News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinance by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s leading FlashClose℠ technology; Ranked 3rd in the Scotsman Guide’s 2021 list of Best Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and the Chicago Tribune’s Best Workplaces list for seven consecutive years. Visit rate.com for more information.
SOURCE Guaranteed Rate Firms