Guaranteed Rate launching first national ads

Chicago-based mortgage bank Guaranteed Rate will launch its first national television ad campaign early this year.

Owner and CEO Victor Ciardelli III has budgeted up to $10 million for the campaign, growing to as much as $15 million in 2015, Crain’s Chicago Business reports.

Guaranteed Rate has nearly 190 loan offices nationwide, but 30 percent of its volume is generated here.

Commercials featuring Ty Pennington, former host of ABC’s “Extreme Makeover: Home Edition,” are in production.