Guidance Residential Mortgage Interest Rate and Cost Review

Is Guidance Residential a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Guidance Residential to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Guidance Residential nationally:

Review ItemGuidance Residential
Interest Ratehigher than other lenders (+0.12%)
Loan Related Closing Costssimilar to other lenders (+$233)
National Rate and Closing Cost Star Rating(3)

On average, Guidance Residential’s interest rates were higher than those of other lenders (+0.12%) for a comparable set of borrowers. On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of +$233. Overall, combining interest rates and closing costs we estimate that Guidance Residential tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars. To visit Guidance Residential, its website is located at: https://www.guidanceresidential.com.

Guidance Residential’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Guidance Residential was most active in:

  1. Chicago, IL
  2. Houston, TX
  3. New York, NY
  4. Washington, DC
  5. Seattle, WA

You can click through to check out Guidance Residential’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.

Guidance Residential’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Guidance Residential originated Conforming mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConforming
Interest Rate Difference+0.16%
Loan Related Closing Cost Difference+$330
Cost Adjusted Rate Difference+0.18%
National Star Rating(2.5)
Refinance MortgagesConforming
Interest Rate Difference+0.03%
Loan Related Closing Cost Difference-$24
Cost Adjusted Rate Difference+0.02%
Average Star Rating(3.5)

As a summary, Guidance Residential is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Guidance Residential is similar to other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Guidance Residential:

Registered name: Guidance Residential
Registered city and state: RESTON, VA, 20190
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Guidance Residential’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.