Victor Ciardelli

Leaders at Guaranteed Rate have announced their latest speed-centric mortgage product, the 5 Minute Approval. Borrowers can sign their initial application package and upload documents at Rate.com. Then, once the approval comes through (in five minutes or less), they can continue their homebuying journey and close on a property in as few as 10 days. 5 Minute Approval is available for purchase and refi transactions with at least 3% down. Guaranteed Rate President and CEO Victor Ciardelli said the company has already approved more than 100 loans within five minutes through its completely automated process. “And we’re now the only lender in the entire country setting this new standard,” Ciardelli added. “Consumers deserve lightning-speed service powered by modern technology platforms.…