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FHA Rate Guide Mortgage Rates Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
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FHA Rate Guide is a mortgage marketplace site that connects homebuyers with lenders to help them compare mortgage rates. The company is owned by LeadPoint, a Provo, Utah-based company incorporated in 2010 that helps generate sales leads for various industries.
 
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How is FHA Rate Guide rated?

Breakdown

4.5/5
Lender Types
3.5/5
Available Mortgage Types
4.5/5
Customer Experience
4.5/5
Reputation & Transparency

Overall Rating: 4 / 5 (Very good)

FHA Rate Guide is not a lender itself. Rather, it provides information about people looking for mortgages to banks and other lenders so that they can contact them and discuss their mortgage products.

The opening page of FHA Rate Guide's website doesn't disclose anything about how their process works. Instead, consumers are directed to a series of questions about their mortgage needs. You must dig into their privacy policy (to which their homepage links) to learn anything about their practices. The company doesn't provide a phone number or email address for people who are interested in using their service to use to ask questions. Although FHA Rate Guide's name implies that they are a "guide," no meaningful guidance is provided by their website as compared with other mortgage marketplace sites.

FHA Rate Guide Loan Specifics

Available Mortgage Types - 3.5 / 5

It is not immediately clear from the company's website which type of loans they can help you find. From the company's name, you would assume that they focus on FHA loans, but information of this type is not expressly stated. Once you begin to take their survey (after several steps) you can choose whether you are interested in a fixed-rate or variable-rate loan. Some homebuyers don't know which type of loan is best suited to their needs. It would be helpful if FHA Rate Guide provided some basic mortgage education on their site, since many mortgage-seekers are first-time homebuyers who may know little about the mortgage process.

FHA Rate Guide Customer Experience

Customer Experience - 4.5 / 5

The customer experience provided by FHA Rate Guide consists entirely of answering a questionnaire which includes your contact information. While the questions are not difficult to answer and require little more than clicking on your choice of buttons or selecting an option from a drop-down menu, mortgage-seekers—and information seekers—receive no immediate reward for taking the time to fill out the survey. The site doesn't provide a mortgage calculator tool, which is commonly offered by other mortgage aggregators.

Online Features

Online Application
No
Online Quote
No

FHA Rate Guide Qualification Requirements

Qualification Requirements - 4 / 5

Qualification requirements are set by individual lenders. Since FHA Rate Guide is not a lender, they do not set forth any requirements on their site. Their survey does ask you to estimate your downpayment, purchase price, and credit score so presumably they will connect you with a lender who can work within the parameters of your particular financial situation.

FHA Rate Guide Lender Reputation

Reputation & Transparency - 4.5 / 5

LeadPoint, the parent company of FHA Rate Guide, receives an A+ rating by the BBB. The few complaints recorded by the BBB have to do with unsolicited offers and spamming. That is likely due to consumers' lack of understanding of how LeadPoint operates. Since they are not a lender, they must provide your information to financial institutions who want to do mortgage business with you.

Neither FHA Rate Guide nor LeadPoint are rated on Trustpilot.

The FHA Rate Guide website publishes its privacy policy, a list of the company's hundreds of affiliated lenders, and not much more. We expect many customers will find this level of transparency insufficient. It does not compare well to other mortgage marketplace sites.

Key Facts

Lender Type
Marketplace
BBB Rating
A+
BBB Positive Reviews
0
BBB Negative Reviews
6
Trustpilot Rating
0.0 out of 5
Collection Date
2020-04-21

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
NMLS ID: 3175
The Nationwide Mortgage Regulatory Actions
3

Company Profile

Full Name
FHA Rate Guide Mortgage Rates
Company Website
https://www.fharateguide.com
Headquarters
11801 Mississippi Ave, Suite 100, Los Angeles, CA, 90025

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