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Mortgage

Guaranteed Rate partnering with Goldman Sachs’ Marcus to offer personal loans

Unsecured personal loan can be used for home improvements

Guaranteed Rate is no stranger to partnering with some of the biggest names in housing and real estate.

The lender is already part of a joint venture with one of the nation’s largest real estate companies to market mortgages across the Realogy family of real estate companies.

And now, Guaranteed Rate is partnering up with Goldman Sachs as well.

The companies announced this week that Guaranteed Rate is now working with Goldman Sachs personal lending venture, Marcus, to offer personal loans to Guaranteed Rate customers.

Goldman Sachs launched Marcus in 2016 expanding its lending beyond its traditional business model to include smaller, personal loans. Then, last year, Marcus expanded and began offering home improvement loans.

Through this new partnership, Guaranteed Rate customers can get a personal loan through Marcus to “finance their home improvement projects or consolidate their debt.”

Goldman Sachs previously stated that its home improvement loans provide borrowers with “complete control over how they use their funds without being committed to pre-approved projects or a single contractor.”

Now, Guaranteed Rate customers can go online to check their eligibility for a Marcus personal loan, which can be used for “debt consolidation or to fund projects such as updating bathrooms or kitchens, replacing windows and doors or making other home improvements and repairs.”

The companies state that the relationship is a win-win for all parties involved.

“This partnership is a huge value-add for customers and real estate agents,” said Guaranteed Rate Founder and CEO Victor Ciardelli. “Partnering with the Marcus personal loan platform helps customers consolidate debt and enables agents to help their sellers address much-needed repairs or upgrades that could help increase the value of their homes.”

According to information from Goldman Sachs, Marcus loans range from $3,500 to $40,000 for periods of three to six years.

“We at Marcus seek out like-minded partners who share our passion for developing transparent financial solutions that are on the side of the customer,” said Abhinav Anand, head of consumer loans for Marcus by Goldman Sachs. “With all of our products, we are open to partnerships that provide value to consumers, and customers are consistently giving Guaranteed Rate high marks for the value they provide.”

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