Guaranteed Rate Launches Enhancements to the RateReduce™ Program

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Jan 10, 2024, 09:00 ET

Designed to assist real estate professionals in difficult market environments

CHICAGO, Jan. 10, 2024 /PRNewswire/ -- Guaranteed Rate has enhanced the RateReduce™ program to include "RateReduce Sell™," a program designed to help real estate agents excel during a challenging home sales market.

"RateReduce Sell™" provides real estate agents the opportunity to offer home sellers a way to secure a discounted mortgage rate for a prospective buyer so that they can sell more homes. As part of securing the property listing, the real estate agent works with the seller and a Guaranteed Rate loan officer to pay a fee and lock in the discounted rate for a buyer. This unique benefit allows the listing and marketing of the home to stand out compared to the competition, giving the property a higher likelihood of selling.

"We want to offer real estate agents and their clients the opportunity to lock in a rate that they can market to their potential buyers. In an environment where rates can be volatile, this is a key selling point for a future buyer," said Jeremy Collett, Guaranteed Rate's EVP, Head of Capital Markets. "One of the biggest hurdles impacting sellers and buyers is high interest rates. With Guaranteed Rate's exclusive new program, real estate agents can ensure that their buyers get a discounted market rate on their mortgage. Real estate agents will also have the ability to advertise the program and the lower 'RateReduce Sell™' rates to buyers at open homes and in their listings."

Collett also notes that "RateReduce Sell™" will be available for high balance mortgages as well. High balance loans are those that exceed the conforming limits established by the Federal Housing Finance Agency. Mr. Collett added, "This high balance feature supports a broad range of markets to assist our valued real estate partners, buyers and sellers in this complex rate environment."

The home buyer will also have access to Guaranteed Rate's wide array of loan options and technology, including its Same Day Mortgage™ program which provides a full approval in less than one day.

For real estate agents looking for more information on RateReduce Sell™, other RateReduce™ programs, and how these programs benefit consumers, a live webinar is scheduled for Wednesday, Jan. 10, at 3:00 PM CST. Visit Agent Advantage Webinar to register.

About Guaranteed Rate Companies

Guaranteed Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies have over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies have helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire's Tech100 award for the company's industry-leading FlashClose℠ in 2020, digital mortgage platform MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide's 2022 list of Top Retail Mortgage Lenders; The most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine's Lender of the Year for seven consecutive years; and Chicago Tribune's Top Workplaces list for seven consecutive years. Visit rate.com for more information.

SOURCE Guaranteed Rate