Guaranteed Rate's "Ultimate Neighborhood Give Back Challenge" to Give Away $100,000 for Community Improvement Projects

Guaranteed Rate, one of the ten largest retail mortgage lenders in the U.S., announced it is teaming with home improvement expert Ty Pennington for the launch of “The Ultimate Neighborhood Give Back Challenge,” a nationwide search for people and organizations who are leading projects that make meaningful impacts in their communities. The company is giving away $100,000 to the best community improvement projects that are submitted to the Challenge’s Facebook app.

Eligible projects can be almost anything that makes a neighborhood or community a better place: rehabbing schools or classrooms, revamping a youth center, enhancements to parks or playgrounds, building a warming shelter, expanding a food pantry, and on and on. The contest is open to both large and small community organizations alike, but all projects need to have a neighborhood or community benefit for consideration.

“At Guaranteed Rate, we’ve always believed in making the communities that we call home better places to live,” said Victor Ciardelli, president and CEO of Guaranteed Rate. “The Ultimate Neighborhood Give Back Challenge is our way of saying thank you to the thousands of organizations doing amazing work in communities around the country, often in the face of enormous economic challenges.”

“One of the things that drew me to Guaranteed Rate was not just their goal of helping people get into their dream homes faster, but the fact that the company is committed to doing good,” said Pennington. “The Ultimate Neighborhood Give Back Challenge is the perfect example of that, and the type of important community volunteer work that I love. I can’t wait to roll up my sleeves and get to work on the winning project.”

Entering the contest is an easy, three-step process: first, register on the Challenge’s Facebook app. Second, upload a photo of the project along with a description (500 words or less) of the project, who will benefit, and how it will improve your community. Third, vote for the project and share it with friends, family and other members of your community. Complete terms and conditions for the Challenge are available on the app.

Entries will be judged on three criteria: impact to the community, a plan in place to execute the idea, and the number of votes received. In June, 50 semi-finalists will be selected and will need to submit a 1-3 minute video detailing more information on their project. From those semifinalists, six finalists will be selected in July, with a grand prize winner being named Aug. 1. The grand prize winner will receive $50,000 toward their project plus Ty Pennington’s help at their project site for a day. The five remaining finalists will receive $10,000 each to help make their projects a reality.

Founded in 2000, Guaranteed Rate has become one of the nation’s fastest growing mortgage companies by offering low rate, low fee mortgages and superior customer service. The company has approximately 175 offices nationwide, is licensed in all 50 states and Washington, D.C., and funded nearly $16 billion in loans in 2013 alone. 

For more information, follow the conversation on Twitter at #GiveBackChallenge, or watch Ty Pennington talk about the contest here


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