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Founded in 1985 in Detroit, Michigan, Quicken Loans is the largest online mortgage retailer and the second-largest retail lender in the United States.
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As of December 2016, for a borrower with excellent credit purchasing a $250,000 home with a $50,000 down payment and a 30-year fixed rate loan from Quicken Loans, the interest rate comes out to be 4.56 percent.
Quicken Loans understands that the home loan process can be confusing for some borrowers. Because of this, the company frequently communicates with its customers and provides them with updates about the status of their loan to ensure that they aren't left in the dark.
Quicken Loans offers a mobile app that is compatible with iOS and Android devices. Using this app, borrowers can manage their mortgage and access tools and resources on the go using their smartphone or tablet. Check Rates
Quicken Loans charges closing costs of $2,500 to $5,000, which is slightly above average when compared to closing costs charged by other top home loan companies.
Quicken Loans has put a minimum credit score requirement of 620 in place for its borrowers, making it difficult for consumers with subpar credit to qualify for a loan.
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I reached out to use them for my new mortgage. i thought their pricing was not the best. They wouldn't work with me at first because of an explainable issue from years ago, but they had their policy that they wouldn't work with me. Then when they were willing to work with me, their rate wasn't the best.
We have always had a great experience with Quicken. They are quick and offer great rates on home loans. I have done at least 3 home loans or re-fi loans with them and they have been super fast and accurate.
Efficient and professional throughout the finance process.
Quicken Loans did a re-fi for our loan and they were very efficient and their fees were low.
Fast service, But all transactions on the phone or computer , make it a little unpersonal
Depending on the initial loan officer, the experience can be different. There are too many hands in one transaction and it gets confusing for the buyer. If the loan officer isn't on the ball, then the buyer doesn't understand who is their contact person.
Quicken Loans allows easy access to loans that are a breeze to pay off over time due to their low rate.
Loved how everything could be done over the phone! Saved me so much time and energy. Had a great mortgage adviser who answered all my questions and led me through the entire process. Will definitely use again!
Quick and easyprocess, great service reps who communicate clearly and in a timely fashion.
Excellent customer service, love how everything is digital and they are always so professional.
Great customer service working with them now to obtain a home loan excellent people
They are very deceitful company.They use Metro-West appraisals for your house.I looked into Metro-West appraisals,and they have horrible reviews.Everybody says they under appraise homes,then Quicken loans changes the whole contract.I have ex. credit(770 morgage rates8)I cancelled,because the appraisal came in approx.$50,000 below what is selling.I got another appraisal(that I pd. for)and it came in $48,000 more than Metro-West appraisal.There is something going on with both companies.
The staff are professional with their customer service.
They told me I was prequalified for a 1500 loan and the. Told me at most 200
They have good products. Customer service is very good. Follow up is very good.
They are a predatory lender! They will overappraise your house to approve a refinance you really can not afford, or to avoid a short sale. They will talk you into rolling your debts into a refinance which will end up costing more in the long run.
Don't feel I got the value of my home, for the amount of cash I received on a reverse mortgage
Easy to deal with and got a mortage refinanced with no problems.
They are the best,they made it possible for me to keep my home.
If you don't use the company they need to remove or recend credit hit period
No hassles when we did a mortgage 15 yrs ago, no issues since
They have always had our best interest in mind, when they could do a better rate on a existing loan they contacted us with the offers
Quick and easy. We knew what we were looking for and their explanations were clear and good. Their online site kept us informed and made the process much easier than others.
Great customer care service available at sll times
outstanding and knowledgeable people and great Web site!!!
I have heard nothing but good about them....I have not used them personally.
They do what they say and are helpful if needed
Change in website takes me to refince only
They are eager to please. They are always looking for ways to save me money.
I have been able to re-fin at least twice now and it was a easy process. I am able to go online to see where my money is going.
outstanding service and customer satisfaction
Mortgage was asigned quickly. Only problem was that I got a notice saying the mortgage was now held by Fanny Mae(?)
They made the process painless and walked me through every step.
Easy, responsive, great service, link to Schwab
This was the fourth time I have done a RE-Fi. I answered some questions on the initial 25 minute phone call and was approved. I emailed my 1040, Drivers license, 1099s. An appraisal was not needed. The notary came to my home for the closing. The entire Re-Fi took approximately 3.5 weeks. I still can not believe it was that simple.
Easy to work with, offered many products
What a terrible, aweful. Ridiculous, unorganized, and disjointed company> ran me around for months, not getting anything accomplished. What a joke. I had five different people calling and none were helpful. I don't understand how they manage to do any actual loans.
Very quick response to questions and no undue amount of paperwork
I feel that I was scammed by Quicken Loans. I tried to resolve it through Consumer Finance.gov and through my credit card company Capital One. I had no success. I want to warn others to be careful before handing over $500 to Quicken Loans. Think twice. Don't let them pressure you with promises that seem to good to be true. Quicken CANNOT wave a magic wand and get you Loans that all the other companies can't. Quicken Loans was apparently able to provide documents to satisfy the Consumer Finance agency and my credit card company that they were in the right when they scammed me out of a $500 deposit. Unfortunately, most of the Quicken practices that seem to me, in hindsight, highly unethical and reeking of scam, took place over the phone. Quicken quite conveniently lost all of those calls (but states "we record all of our calls"). Don't get taken by this company like I was. $500 is a lot of money to lose for most people. If you are inexperienced like I was with the mortgage/home equity/refinance process, don't hand over $500 to some fast talking Quicken representative. Remember that if it sounds too good to be true...Talk to other mortgage lenders first- talk to a lot of them. Most will give you honest answers on what you qualify for, for free. If the others can't get you a mortgage/refinance/home equity loan, don't believe for a second that handing Quicken $500 will open doors. That's nonsense. You don't have to hand over $500 to apply for refinance etc. with most companies. Quicken will tell you that your $500 is an investment that will be returned to you. They vaguely allude to being able to do things other lenders can't. Baloney. Don't get sucked in. I came out of my experience with Quicken feeling like "a fool and his money are soon parted". Best I can hope to do is help someone else not to make the same mistake, and try to turn this horrible experience into something positive for others
AVOID QUICKEN LOAN. Working with Quicken on a VA refinance loan was a terrible experience for me. I initially contacted them on or about Aug 1. On 26 Aug I sent them a letter, at their request, explaining my intentions. Based on the letter and my proof of service, they informed me that I was eligible. I proceeded, at their direction, with the actions required by the VA -appraisal, the pest inspection, well water test & treatment. All together about $1000 out of my pocket. On Dec 18, after I had done everything they asked & after Quicken had received all the necessary documents to close, they informed me that I was ineligible for the loan. Long story short, they agreed to refund the cost of the appraisal only. Meaning I wasted $600 to accomplish what they told me to accomplish. AVOID QUICKEN LOAN.