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Quicken Loans

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7.9

Overall Score

LAST UPDATED: November 12th, 2022

Founded in 1985 in Detroit as Rock Financial, Quicken Loans is the largest mortgage lender in the United States1. Quicken Loans originates loans through Rocket Mortgage®, an entirely online mortgage process, as well as Quicken Loans Mortgage Services, which partners with mortgage brokers and regional banks. Loan production is generated from web centers in Detroit, Cleveland, and Phoenix.

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Attention: Quicken Loans changed its name to Rocket Mortgage.

QuickenLoans.com remains operational, but you will be directed to Rocket Mortgage to apply for a home loan.

Quicken Loans provides a number of loan options that accommodate first-time and seasoned home buyers, as well as those looking to refinance. The company is known for its online loan application process, Verified Approval℠, and loan term customization through the YOURgage loan option.

The majority of positive Quicken Loans reviews describe what a prospective borrower looks for in a lender: a quick, easy mortgage application process, fair loan terms, and competitive mortgage rates. However, make sure to browse over Quicken Loans negative reviews as well — Quicken Loans has slightly more complaints compared to other top mortgage lenders.

Overall, with a proactive Home Loan Expert, first-time buyers and experienced buyers can expect a positive consumer experience while pursuing an online mortgage with Rocket Mortgage®

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The Good

  • Nationwide Service
  • Online Convenience
  • Streamlined Approval and Loan Process
  • Quicken Loans Good-Faith Deposit
  • PMI Advantage Program
  • Variety of Mortgage Loan Types
  • Financial Calculators
  • Up-to-Date Mortgage Rates
  • Mortgage Education Tools

Nationwide Service

Quicken Loans' mortgage products and services are available in all 50 states.

Online Convenience

Quicken Loans offers a convenient, online application process through Rocket Mortgage. In addition to a streamlined application process that syncs with your bank to give you the most accurate numbers, as well as a quick approval process, Rocket Mortgage offers home search service through its sister company, Rocket Homes®.

In addition, you can quickly search and be put in contact with a mortgage broker near you, if needed.

Streamlined Approval and Loan Process

Quicken Loans has a loan approval process that allows homebuyers to make an offer on a home quickly and competitively after submitting an application.

  • Prequalified Approval — Quicken Loans checks your credit. Based on that information, the company gives you and your real estate agent a prequalified approval letter showing how much you can borrow so you know how much home you can afford.
  • Verified Approval —  A Home Loan Expert checks your credit report history, verifies income and assets, and grants you a Verified Approval Letter within 24 hours of receiving all the required documents. This letter can give you a competitive edge in putting an offer on a house, since you are providing written proof that your finances are secure. If, for whatever reason, you don't close based on the company's review, Quicken Loans will pay you $1,000.
  • RateShield℠ Approval — This guarantee locks your qualifying interest rate for up to 90 days. The RateShieldSM Approval is available for a 30-year fixed-rate conventional loan, an FHA loan, or a VA loan. If rates go up, your rate stays the same. If rates go down, your rate drops. Either way, you win.

It should be noted that Quicken Loans reserves the right to cancel the RateShield Approval offer at any time and the RateShield Approval is not a commitment to lend applicants money.

The Quicken Loans' $1,000 Verified Approval guarantee only counts if your eligibility in the program does not change and the mortgage loan doesn't close and this offer does not apply to new purchase loans submitted through a mortgage broker.

If a loan fails to close for a reason outside of the company's control or you no longer want the loan, your participation in Verified Approval is discontinued.

Quicken Loans Good-Faith Deposit

Quicken Loans' mortgage process is enhanced by its deposit program. The deposit amount varies between $400 and $750 and can be paid using a credit card, debit card, or prepaid Visa or MasterCard gift card and covers all lender fees associated with:

  • Pulling your credit report (to obtain a credit history from credit union sources)
  • Ordering an appraisal (hiring an independent, unbiased appraiser to determine the value of your home)
  • Processing your loan (reviewing and underwriting documentation, contacting insurance and title companies, and other potential costs to third parties)

Quicken Loans is transparent about exactly where the deposit money is going, especially in an industry where some lenders have taken advantage of borrowers by overcharging for the appraisal. And when you close on your home, all of your deposit money is credited to your total closing costs.

PMI Advantage Program

If you make a down payment less than 20 percent you will likely be required to pay private mortgage insurance (PMI) - a fee added to your monthly payment, potentially adding hundreds of dollars to your current payment amount. Most people can't afford to pay 20 percent down on a home purchase, so PMI is a common fee that many homeowners pay.

To help you reduce or eliminate your PMI payments, Quicken loans provides options to do so through its PMI Advantage Program. There are two options available:

  • Your interest rate will be raised slightly to cover the cost of PMI
  • Choose to pay your PMI as a one-time payment at closing

While these options don't necessarily remove your responsibility to pay PMI, they can help you reduce your monthly mortgage payment and save you money in the long run.

Variety of Mortgage Loan Types

All Quicken Loans mortgages have conditions and eligibility requirements. But some borrowers may have multiple options available to them. Quicken Loans offers the following loan types:

  • Fixed-Rate Mortgage Loan — The monthly payment on these loans won't change. The interest rate stays the same for the life of the loan, so the payment only changes if taxes or insurance premiums do. These loans are available in terms from 8 to 30 years through Quicken Loans' exclusive YOURgage product. The benefit of a fixed-rate loan is predictability over the long term.
  • Adjustable-Rate Mortgage (ARM) Loan — These loans offer a lower rate at the start of the term. The most popular options have either a 5-, 7-, or 10-year initial fixed-rate period. ARMs are a good option if you plan to sell your house or refinance before the initial fixed-rate period ends, although the homebuyer is qualified by considering the highest the payment could ever go, to make sure they can always afford the payment. There is also a limit to how much the interest rate can change each time it adjusts.
  • FHA Loan — The Federal Housing Administration backs loans with a down payment as low as 3.5%, and homebuyers can often roll closing costs into the loan. Borrowers who have lower credit scores or have experienced financial difficulties can often qualify for FHA-backed loans. And if you already have an FHA loan, you can refinance for a lower interest rate with FHA Streamline.
  • VA Loan — VA stands for the Department of Veterans Affairs. Veterans, service members, and spouses can qualify for VA loans with a lower credit score and more debt compared to that of conventional loans. Most don't require an origination fee or down payment, and they often have lower interest rates. In addition to new purchase VA loans, Quicken Loans offers VA Streamline refinances and VA cash-out refinances.
  • Jumbo Loan — These products offer loans between $453,101 and $3 million, whereas conventional mortgages have a lower loan limit.

Financial Calculators

The Quicken Loans website features four helpful calculators:

  • Mortgage Calculator — Calculate monthly mortgage payments on the calculator based on today's rates
  • Affordability Calculator — Calculate how much home you can afford based on your income and debt
  • Amortization Calculator — See how your loan breaks down over time and how you can save money on interest by making extra payments
  • Refinance Calculator — Calculate your new monthly mortgage payment if you refinance

These tools are also accessible on the Rocket Mortgage app via the Apple store and Google Play. Using the app, compatible with iOS and Android devices, users can manage their mortgage and access the above tools and other resources on the go.

Up-to-Date Mortgage Rates

The Quicken Loans website displays daily updated mortgage rates, as well as a trend graph, displaying rate trends from as little as one week up to one year.

Since mortgage rates change daily and even hourly based on the market, prospective buyers can appreciate access to today's mortgage rate and APR information from Quicken Loans. Keep in mind that interest rates also vary based on each borrower's overall financial situation: FICO score, income, assets, the mortgage product type, loan-to-value ratio (LTV), and points due at closing.

Mortgage Education Tools

Quicken Loans equips first-time homebuyers with many helpful resources, including a comprehensive homebuyer's guide and refinance guide. The homebuyer's guide takes prospective borrowers through the following steps:

  • Preparing to buy a home
  • Exploring mortgage options
  • Getting approved
  • Working with an agent
  • Finding a home
  • How to make an offer
  • Preparing to close
  • Closing on your home
  • Managing your mortgage

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The Bad

  • No USDA Loans
  • No Construction Loans
  • No Home Equity Lines of Credit (HELOCs)
  • Quicken Loans Reviews

No USDA Loans

While Quicken Loans does offer a wide variety of mortgage loan options, including government-backed FHA and VA loans, it does not offer USDA loans. 

A USDA loan is made available by the U.S. Department of Agriculture, and is a zero down payment mortgage option for those interested in purchasing a rural property. In addition, USDA loans may accept lower credit scores than conventional mortgage loans.

No Construction Loans

While the lender does have several mortgage options, you can't get a construction loan through Rocket Mortgage, nor can you finance a mobile or manufactured home.

No Home Equity Lines of Credit (HELOCs)

Quicken Loans does not offer a Home Equity Line of Credit (HELOC) option, a secured form of credit through which a lender agrees to lend a certain amount secured by a borrower's home equity. 

HELOCs can be a good way to access extra cash to make home improvements, in turn increasing the value of your home. But, this form of credit can also be hazardous, as it can be easy to access more cash than you're able to pay back at a certain time.

Quicken Loans Reviews

Quicken Loans mortgage reviews are average in comparison to other top lenders, and vary widely in star rating — approximately half of customers award the company 5 stars, while the other half awards it only 1 star.

The most common glowing Quicken Loans mortgage reviews mention affordable rates, efficiency, and great customer service. On the other hand, the most common Quicken Loans Complaints are due to poor communication, organization, and transparency.

Due to the mixed reviews, make sure to read both the 1-star and 5-star Quicken Loans reviews below so that you can have a more complete picture of how the company interacts with its customers.

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The Bottom Line

Quicken Loans is a widely known mortgage lender, providing a quick and easy application and approval process through its online Rocket Mortgage product. With entirely online services you may get to closing faster, but you can also speak and work with a Quicken Loans Home Loan Expert if you would prefer.

In addition to its Rocket Mortgage product, Quicken Loans offers many services and products to assist you throughout each phase of the mortgage process, such as the following:

  • YOURgage loan option — Customize your fixed loan term with the option to choose a term from 8 to 30 months.
  • Verified Approval — Part of the Rocket Mortgage® approval process that assures you have the money to buy your home by verifying your credit, income and assets. You will then be provided with a Verified Approval letter which can be shown to a home seller, giving you a competitive edge compared to other buyers because you can demonstrate that your finances are secure.
  • RateShield Approval — Part of the Rocket Mortgage® approval process that locks your qualifying interest rate up to 90 days.
  • Rocket Homes — A service provided to help you locate real-estate listings of interest near you.
    These products and services can provide you with greater peace of mind in today's competitive market.

Quicken Loans customer reviews scores are slightly above average with 3.5 out of 5 stars in all of our sentiment criteria. The majority of customers are pleased with their Quicken Loans experience, awarding the company 5 stars overall, but, on the other hand, a large portion of customers express dissatisfaction in their experience with the company.

Positive Quicken Loans reviews most often mention:

  • Reliable customer service
  • Quick and easy mortgage process
  • Competitive rates

Negative Quicken Loans reviews most often mention:

  • Poor communication
  • Lack of company transparency

We recommend taking time to read both positive and negative reviews to see if Quicken Loans would be the best choice for you.

There are lots of online lenders out there, but Quicken Loans has the online mortgage application and digital mortgage management system down to a science. And as far as user convenience goes, Quicken Loans is hard to beat with its completely-online mortgage application process.

First-time and experienced buyers alike can shop for mortgages, know their loan's status 24/7, manage their mortgage, and set their own time and place for closing from the comfort of home and the convenience of a phone or computer.

1Based on Quicken Loans data in comparison to public data records.

For J.D. Power award information, visit JDPower.com.

Quicken Loans Inc.; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AL License No. MC 20979, Control No. 100152352. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Quicken Loans Inc., 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company

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Star Rating

4.1

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590 Reviews

Review Breakdown

5 grade

68%

4 grade

7%

3 grade

6%

2 grade

3%

1 grade

16%

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Julita Varner Sylvania, OH

HORRIBLE! Quicken Loans screwed up EVERYTHING! The most egregious issue is they collected funds that were to be held in escrow for taxes but failed to pay the taxes. I found out when I received a notice of delinquency and that's when Quicken told me they reduced my closing costs and I was supposed to pay my taxes directly. They said "sorry" for NOT telling me this and for having to increase my monthly payments by $257 to make up the shortage. Fortunately, I can shift some things to make the payment but what if, like many people, I couldn't afford it? Absolutely SHAMEFUL!!!

3 weeks ago

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Danielle Lessard, Ph.D. Washington, DC

Worst experience buying a home. My file was switched between three mortgage bankers and all gave me completely different stories and rates. Prices changed weekly all the way to closing. The bankers did not know what they were doing and each time my file was moved I had to explain to them what was going on with my file the last I knew. I had to provide them with everything but a dna sample. One day everything was good and the next they couldn't do the deal. I was on pins and needles for over 45 days. I will never ever use this company again and I dont recommend anyone else use them either.

2 months ago

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Efrain Zamudio Wheaton, IL

Attempted to use rocket mortgage for a 2nd attempt and was asked to pay 400 for an appraisal. Then seen on my contract they were trying to charge it again. So I pulled out then got a denial letter

2 months ago

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Paul M. Gaithersburg, MD

Went with quicken over another bank that offered the same rates. What a mistake that was. They immediately sold the loan within 3 months. Had to set up auto pay again. They didn’t notify me that it got sold. So I ended up getting late fees and having to spend hours on the phone getting the payments that went to quicken resolved. Then they never sent me my tax statements at the end of the year. Had to spend another hour on the phone with them to get that. I’ve now had my loan sold for the fourth time in two years. So I’m going to have to deal with this again. To make a long story short go with a regular bank that will keep the loan. Haven’t been this annoyed in a long time

6 months ago

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Amir Abtahi Porto, 13

The same attributes that give Quicken Loans a great edge with automated procedures such as streamlined application processes and advanced online communication, also make quicken Loans/Rocket the absolute worst entity for dealing with items that AI is poor at, such as insurance loss issues, and peripheral service needs prior, during and after an insurance claim. These special circumstances still require human (well competent human) intervention. I have been dealing with the Insurance Loss department. Frankly, I have dealt with so many people trying to get our insurance check processed that I don't know what is the proper name of that division. The incompetence of this group of people, combined with what I consider unethical behavior has convinced me that as soon as I get a chance to refinance with a more traditional local bank , I will. Even if we pay a higher interest rate, the frustration of dealing with what seems like a bunch of robots is overwhelming. I can just briefly give examples of some of the more troubling behavior: 1. When I sent our insurance loss check, I followed up with a call to the loss claim office, (much to my surprise) I was told that the check had been endorsed back to me and that I should receive it by UPS next service the following day or at most the day after. I was thrilled and called the contractors to get ready. When I received a call back from Rocket Mortgage, I naively thought that perhaps they would give me the tracking number. But this in fact was a solicitation (from the same number as the insurance loss department) for refinancing. I was annoyed since the last thing on my mind was refinancing in the middle of repairing the house following a fire loss, but I thought that it was perhaps a coincidence. When the check did not arrive, I called back and I was told that whoever had told me that the check was on its way was mistaken! There was a whole process and it would take at least 5 days to endorse the check. To make a long story short, the calls back and forth between me and the loss department in the following 2 weeks gave a feeling that to get new financing would have helped getting the endorsement check faster. After complaining and raising some noise, we did get the first check back but not without problems. 2. Quicken Rocket's policy is to send an endorsed check back to the insured with a UPS envelope that is dropped at the door. No communication that the check is coming, no tracking number, no signature request on checks that may range up to and exceed $100,000. Our check was left at the front door under the rain. 3. A second check was lost in their offices for a day or two, and when it was finally found, it was erroneously sent back un-endorsed because the person processing it had made a mistake on the loan account number (our previously paid loan) and returned it with no endorsement. That check was then lost when sent back. When we told our insurance company Fed Nat to put a stop-payment on the check and reissue a new check, they told us that this was the first time ever that this had happened. 3. The reissued check from the insurance company was endorsed by me and sent to the insurance loss department a month ago and despite promises by Lori (the one person that seems human and not an AI bot) that it will be expedited because of this unusually horrible experience, we still have not received the check. So I have come to the conclusion that aside from an utterly incompetent group at the insurance loss department, my complaint about the unethical behavior of salespeople trying to talk a person dealing with a fire loss into refinancing must have backfired and I have been blacklisted by this department. Unfortunately, at this point I think that Lori was just part of a system that dragged me along and not genuine. If I am wrong, but frankly I can't understand why someone with a "resolution specialist" title cannot resolve a simple issue like this.

7 months ago

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Disappointed Farmington, MI

There was a mistake regarding the Rate and Quicken Loans won’t take responsibility. When they were trying to get me to refinance, my phone was ringing all day long for weeks, I was very important for then; now that I want them to give me an answer for the mistake, I am not important anymore and the lady that had my account won’t even bother responding to my emails, once they get their commission the Customer becomes invisible.

7 months ago

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ralph baker Hermitage, PA

When we went to file our federal income tax we did not have a 1098 form from Ouicken Loans so my wife called and they said that we had selected paperless form on our mortgage renewal. This is not true so she asked them to send the 1098 forms. We waited and no forms . She called 5 different times and talked to 5 different people and each time they said that they would send the forms and we never received them. Not happy.

8 months ago

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MrBakergc Spring Hill, FL

I closed on the new home on 09/13/2021. The mortgage amount was $982.65. On 12/10/2021 Rocket Mortgage used overestimate county tax data of $2,771.84 and made escrow balance oveerinflated. I applied for Homestead exemption on 12/30/21 (soonest possible date-Hernando County). In 01/2022 county approved homestead and provided county tax bill $1,048.58 to Rocket Mortgage. Rocket Mortgage increased monthly mortgage to $1209.09 for 02/01/22. In 03/2022 they plan to increase to $1400 mortgage per month. All to overcompensate shortage of escrow that does not exist. Spoke to Amber C Escrow Manager and she refuses to recalculate escrow and fix the monthly payments for 02/22 and 03/22 even after proof of actual tax bill received. My wife called in January and was told give it a week to update. My wife called again on 01/19/22 and was told to provide the tax bill for the year. I went to the county and got a copy of the tax bill on 01/20/22 and uploaded it to the documents at Rocket Mortgage account online, called Rocket Mortgage confirming they received it; they told me give it 4 to 5 days. On 01/31/22 I called them again and was transferred to Escrow team and was told we can't do anything, asked to speak to Manager and was connected with Amber C, who said she will call me back on 02/04/22. I called Al M and was referred to Robert A, who contacted escrow team twice. Amber C called me and said that she will not do anything, it's all in the system and she will not change it. She will not make an exception even though we provided all documents to correct the problem Rocket Mortgage created. They will not adjust the monthly mortgage amount based on evidence and will continue charge monthly mortgage based on estimate $2775.84 county tax and in December 2022 (the end of the year) when there is an overage in the escrow it will be refunded back as a check to me. I do not want to get check at the end of the year. I paid $51, 003.59 at closing with $44,000 down payment on 09/13/21. I am asking Rocket Mortgage to adjust my monthly mortgage amount to correct amount effective 02/22 because the amount is incorrect. Rocket Mortgage will keep the money and get interest on my money and what do I get higher monthly bill. I was told when I got this loan that with 20% downpayment my monthly mortgage will stay below $1,000.00 even with $1,048.58 county tax. This company is fdishonest. Stay away.

9 months ago

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james strickland Louisville, KY

This has been one of my worst experiences with any company (Rocket Mortgage) ! I am a small business owner and a gifted money via a business check to a close friend. They keep asking them for information and access to accounts that they wouldn't have access to. I've had my friend give them my contact information to deal with me directly. I've sent information via email to multiple people. Once I respond I never hear from them again and then I get another person asking for the same info! There seems to be too many people with hands in the pot and no communication between them. The information they are requesting is ridiculous as well. I sell decor, barware, and furniture both wholesale and at art shows. As most of my products fall in the realm of gifts, my business is very seasonal. This means for a few months I have very little income and then closer to holidays I get slammed with large transactions. At art shows I use Shopify as a POS for credit card transactions. This means a large amount will be deposited in a lump amount. As for cash we don't issue receipts as it is a quick paced environment. I report that as well for tax purposes. My accountant has never had any issues with this. I can also show myself as a vendor in attendance on the art shows website. Requesting individual receipts for every transaction during the holidays is crazy. I did not have these issues when I purchased my house. My recommendation is to stay away from this company!

11 months ago

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Matthew Long Sharpsburg, GA

Terrible. Delayed our closing because they didn't get all the paperwork done in time. They kept asking for more paperwork and our closing was delayed then we had to pay for storage units, extra moving expenses, hotels, etc. And they said they would cover this and then didn't. I will never use them again. They also delayed another friend of mine by doing the same thing. Then when we called to discuss reimbursement which they promised they had our address wrong, kind of concerning considering we pay them over $1400 a month and they can't even record the correct address, yet they have no problem sending a bill in the mail each month. Terrible organization all around.

1 year ago

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Lisa Bowling Green, KY

I was working with Patrick L. I was issued a letter of approval I found a home all on my own and did everything with no help from the realtor they paired me with. I was directed to get a cashiers check for $1,000 and take it to the owner for them to take the house off the market and then at the last minute they want to say that something on my credit is an issue after I paid the owner the $1,000 so I then went and settled the issue on my credit for $3,000 and then I was unable to reach Patrick after that. I put complete trust in this company and in the end all they did was waste my time and my money and I’m still looking for a place to live because I wasted my time thinking this was a sure thing and my lease is about to be up. I have a child and this man knew all of this me still did this to me. Good luck to anyone who actually needs help and had some credit issues because I was done so wrong!

1 year ago

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ALICIA MILLER Columbus, OH

Literally the worst customer service and lack of financial knowledge ever! The "professionals" will not return phone calls or emails timely - most likely at some point you will also get hung up on. You will provide 18 months of documentation - to include cancelled checks and deposit tickets (wow!) - to then be told you haven't provided enough documentation. They possess no knowledge of state laws regarding self employment. If you are looking to refi less than 25% the value of your home and you have sufficient assets to more than cover and have an excellent credit rating go elsewhere. You will be wasting 8 weeks and still have no loan because you will ultimately give up and look elsewhere and quite honestly, get results in a few weeks!

1 year ago

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Emiliano Sironvalle ,

Bad company… avoid it.. a nightmare…high cost.. I had 3 different executives to just move my paperwork and to find an approval lender, I did change my closing date for another 45 days (the first person didn’t know that an approval and closing for a condo was 45 days according to supervisor) finally the third executive did a great job getting the approval from the lender so I did the inspection report and the appraisal, everything was ready for the second closing date. Later on, I was told that the HOA did not have enough reserve funds so the operation failed (why they don’t do this critical point at the beginning and not at the end of the process?) I lost 76 days and money (appraisal and inspection report), they mislead customer with their advertisement… they are not faster…they charge you more through the discount points..

1 year ago

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Michael Kolk Hopkins Park, IL

Company doesn't work in your best interest. they scam you into a good loan quote but if you are refinancing with them they will charge you unnecessary FEES to make sure they are making a profit. When Covid first came out, the Loan Brokers were calling my place of work every day annoying the Company and me. found out their true colors when just recently, a contracted COVID. They immediately demanded more unnecessary paper work to stall the process. Claiming I do not have a job. I SHOULD HAVE LEARN FROM THE FIRST RE FINANCE. I had to have surgery and was on workman's comp, STIILL GETTING PAYED. They made me go through all kinds of crap having me have my employer Document and verify my employment even though I was still under employment, just on FMLA. What the heck does backed by JD Power and Associates mean Check into it! NOTHING !!!! This another one of those companies that advertise on TV and do nothing for you. WONDER HOW THEY PAY FOR ALL THAT ADVERTISING!!!!!!!

1 year ago

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James Barker Aberdeen, NC

2020 Home Mortgage Quicken Loans Home: Cameron, NC ($297,000) Offer accepted: 9.25.2020 Earnest Money: $2,500 Contact date with Quicken Loans: 10.9.2020 DO NOT USE QUICKEN LOANS. MUTLIPLE ISSUES INCLUDING, 1) LACK OF COMMUNICATION 2) NO ORDER OR PRIORITIES 3) NO ACCOUNTABILITY To whom it may concern, Buyers beware! Quicken Loans is not as efficient as you’re lead to believe by their adds. We did the mock quote using their website late September. That same day our cell phones started blowing up with 4 to 6 calls a day soliciting our business even though I indicated we didn’t want to be contacted at that moment (weighing our options and reviews on several mortgage companies). On first contact with Quicken Loans was with Keith J, our assigned loan officer. First contact was professional. He gave an initial rundown of what he needed to get us qualified for the loan. We advised him we wanted to use my VA loan option. We submitted the requested documents and generated an account for our mortgage through the Rocket Mortgage portal. Upon generating an account for both my wife and I on the Rocket Mortgage site, we noticed immediately an extensive list of to-do’s and documents to upload. The documents that were being requested were the same documents we had just sent to the loan officer. We called and spoke with Keith to confirm if we needed to upload the same documents. We were advised he would take care of this and then to log into our account and sign the application and disclosures. We did as advised and the very first we noticed was the application is/was for an FHA loan, not a VA Loan. We reached back out to our loan officer, who in turn handed our packet off to another specialist within Quicken Loans on 10.12.2020. The financial specialist reached out to my cell phone and email 10.13.2020 and I returned her call. However, we were unable to link up for a few days. I made several attempts to call her on her direct line and left a voice message each time asking to be reached prior to 5 p.m. On two occasions following my voice mail, I was called after 5 pm. I was finally able to speak with the financial specialist who advised me on what debt I needed to liquidate in order to get a better rating for our VA loan. It took roughly 1 week to move the money and get the request letters from the creditors. At this point, I emailed the financial specialist back the requested documents. 2 Days later we received news our VA loan application was approved and that we needed to talk with the original loan officer (10.30.2020). Our closing costs were around $7700 at this point. At this point, our seller started to get anxious as we didn’t have a closing date. Our seller asked us to get a “Letter of Commitment” from our mortgage company. We put in several phone calls (Voicemail because we couldn’t get our loan officer on the phone) and email requests to obtain this letter. From 30 October 2020 to 16 November my wife and I talked/emailed/texted 4 different people with Quicken Loans about getting a Letter of Commitment to finally be told you don’t get the letter until everything is completed/finalized for the full mortgage. Also, that information didn’t come from our loan officer, but a cohort within Quicken Loans. Also, during this same time period, we received two emails (11.5.2020 and 11.12.2020). The first email was addressed to the “SELLER” advising us of the risk of lead-based paint. Why did it come addressed to the seller but we’re the client? The second email was another person within Quicken Loans, whom we’ve never had contact with nor were we notified by our loan officer about, asking for documents we had already signed the month earlier. First week of November Keith J told us to wet sign the documents and upload them to our Rocket Mortgage account, which we did. A week later Ezik D contacts us asking why we haven’t signed our application. I informed him that we wet signed the documents and then uploaded to our account. He asked us why did we just not sign them electronically. I advised him that Keith told us to wet sign them and upload them. At that point we went back into our account and electronically signed the application. Two days later Ezik calls again asking us to electronically sign the documents. WE HAVE SIGNED THEM TWICE AT THIS POINT. Every time we tried to sign electronically it would not show up on their end as signed. Ezik then emailed copies of the documents for us to wet sign and then email back to him. This whole signing the application went on for almost a week and we signed 4 times. The following day, the Quicken Loans rep let us know it was good and he was sending the packet back to underwriting. On 16 November we received an email from underwriting who let us know in order to have a closing date of 12.4.2020 we would need to complete our To-Do’s list in the Rocket Mortgage portal. My wife and I were dumbfounded at this moment, as we both had been in the portal not 20 minutes before receiving the email and there was nothing there. Every time we asked Keith if we needed to address any of the “To Do’s” he said not to worry about it he had everything. This obviously was not the case. We did need to address all the items in our “To Do” The other item my underwriter needed was a detailed explanation of all my allotments I have on my retirement pay. I provided this information to Keith previously and again supplied it to my underwriter. Middle of November now. While reviewing the information on our Rocket Mortgage account my wife noticed our closing cost had increased $2,000 since we signed the same paper work not more than a week earlier. I tried reaching out to Keith via phone and email for an explanation. At this point he stopped all communication with us. We never heard from him again since November 4th. Now we are assigned to Nicole A . I asked her why the increase in closing cost and she stated our LOAN OFFICER DID NOT LOCK OUR LOAN. Nicole jumped on it and had it locked at that; however, our closing costs still remained $2000 more. Needless to say, my wife and I are fuming at this point. Another fact, why did our closing costs increase when the national federal mortgage rates were still declining. Explanation???? At this point, we asked Nicole if the VA Appraisal had been ordered. She said it had not and that she was putting the request in (11.13.2020) and this would be one of the last pieces to complete besides the title work. Nicole advised the appraisal projected completion date was 11/22/2020. She also stated she saw notes that the appraisal may also be completed via desktop because of COVID. The sellers breathing down our necks for the appraisal to be completed. So now we have no idea if the appraiser was physically going to the home or just completing the appraisal from his/her office. Because the seller is so frustrated as well with all these delays, she has now stated that she is adamant about not moving the closing date again. December 4th is now our official deadline. I informed Nicole of this and she noted the file. We checked with Nicole on 11.23.2020 to see if the appraisal had been completed yet. She replied that the appraiser hadn’t been able to reach the seller to set up an appointment. We asked the underwriter what phone number they had for the seller, she stated, “(800)------,”. A full week went by at this point and they had the wrong number for the seller, which we supplied to Keith and Marcus S previously. Again, this shows the serious lack of communication within the organization. We then gave the correct phone number for the seller to the Nicole. Our next check was Friday, November 27 to find out if the appraiser was able to reach the seller and set up the appointment. Nicole informed us that the appraisal was scheduled for Wednesday, November 25th. We texted the seller who confirmed that she had let the appraisal team in to complete the inspection. The appraiser told the seller that the appraisal would be completed and submitted any plenty of time to meet the December 4th closing date. Our next contact with Nicole was Tuesday, December 1st inquiring if they had heard back from the appraisal team. Nicole states “She is working with the management company to see if the appraiser is able to submit the report in ASAP today (Dec 1st) to try to meet the closing date of December 4th”. She was waiting to hear back and will let us know any new updates. Next contact to Nicole was Wednesday, December 2nd inquiring about the appraisal. Nicole states “The management company reached out to the appraiser to get an update” She was not showing they heard back yet. She sent another follow up that morning. Morning of 3 December 2020, my wife texts Nicole again and receives a delayed response from someone named Adam on behalf of Nicole. At this point we know we are not closing on December 4th. Adam states “I can adjust the target closing date to 12/7 for now. In order to close on 12/7, we would need to have the full clear to close by 11am December 4th in order to close on 12/7”. He stated that they have reached out requesting an update with appraisal but not showing that a response has been received as of yet. He then asks if I am able to call the regional VA loan center. They would be able to check on the appraisal and request an update directly from the appraiser. They require the Veteran submit the request. Adam gives us no direction on how to contact the VA Loan Center. No phone number and no information that we would need to request the status of the appraisal. I find the phone number myself to the VA Loan Center and call trying to get the status of this appraisal only to find out they need a “CASE NUMBER” to look it up. They informed me that our Mortgage Company has this “CASE NUMBER”. Way to go Adam for not giving us this information when he asked “ME” to reach out to the VA Loan Center. My wife then texts Nicole again asking for the “CASE NUMBER” ASAP! Half an hour goes by and no response from Nicole which was very odd since she always responded within just a few minutes of my wife texting her. My wife then calls Nicole’s line to expedite obtaining the “CASENUMBER”. She gets Nicole’s voicemail only to find out she is on vacation from Wednesday, December 2 through Wednesday, December 9th. Nicole had knowledge of our December 4th closing date. My wife presses 0 to speak with another specialist. She talks to Jessica who gave her the “CASE NUMBER” we need. She quickly passes this off to me. Ten minutes later my wife receives a text from Al stating he is helping out Nicole and that he is not showing that a “CASE NUMBER” has been received yet. COMMUNICATION IS SERIOUSLY LACKING!!! I called the VA Loan Center and now we have to wait 24 hours. I texted the seller to let her know we would not be closing on December 4th. She is obviously frustrated especially when she was told from the appraiser that it would be completed in plenty of time. I don’t know if she was feeling empathy for us, but we were able to push the closing date to Wednesday, October 9th. My wife left a message on her Rocket Mortgage account updating the closing date.

2 years ago

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James Myers Fort Wayne, IN

After three years of on time payments with Quicken and many successful refinances. I still have a late payment history with them. I have reached out asking what options I have since I am unable to make payments until I start to receive my VA Disability benefits. I have talked to many people who told me that I could not do anything. Who was I to know that was a lie? I am a first time home owner and did not know any better. The VA has agreements or options for helping people in my situation. Quicken Loans, who has been in business for more than thirty years and has been involved with many VA secured loans. Claimed ineptitude and cognitive dissonance to any remedy to help. The company seemed most concerned to get their money and make it unlikely for me to seek out securing a loan from any other bank or competitor. When I did make payments I paid up to two thousand dollars a month to catch up as quickly as possible. The VA could have facilitated this repayment plan or found a way for payment assist. Quicken was less than helpful with this up until a few days before I started to receive my disability benefits. Benefits that I used to pay past due payments and get the account up to date. A company such as Quicken, that has the slogan of 'engineered to amaze' has done some great things to help. Just as long as you make payments. If you do not... sorry we can't help.

2 years ago

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Robert Jernigan Baird, TX

I am on day 143 of my loan. The loan is for $260,000 and it appraises for $550,000. Everything has been done including the survey, now after 140+ days I am being told that they need more documents. I have been approved 3 times then they say oh wait we need this and this. This is not my first rodeo I have refinanced before, but Quicken loans keeps stalling hoping to find something they can change or cancel the loan. They do not do what they say and for as far as I am concerned, they are using false advertisement. I think they just bring on new clients to be able to look good for their investors. By the way my credit score was 800+ when this all started.

2 years ago

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Nando Houston, TX

Quicken loans is by far the worst mortgage company out there. They promise you the best rates ever but you never get to start with them. After getting all the loan information they need they'll just ask for more and more. By the time you get everything they need they would just pull the plug on the whole loan and back off. Very unprofessional, the company needs to be sued for all the private information they have recieved from customers. Would never trust them for anything Ever again. My advise: Stay Away!!! They will promise you the best rates but If it's too good to be true its definitely not true with this company.

2 years ago

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amy carr Manderson, SD

We applied for a house loan in April, it was on a new build, so it was to switch over from construction loan to home loan. We were pre-approved quickly. We sent everything in promptly as required. From the start they kept asking us for the same things over and over. And in July we got a payoff from the bank and then they couldn’t set a closing date because they kept needing the same things over and over and then too much time would pass, and they would need another payoff. Then there were at least 5 more payoff dates, but they wouldn’t set a closing date. “Oh, we need your bank statements again, ETC. Closing costs kept escalating and then suddenly they needed us to have another $6,000 in the bank on top of closing. They kept asking for statements from a 2nd mortgage. We told them from the start there was no second mortgage. Apparently there is no internal communication. Then they said we hadn’t made our house payment. We said again and again we didn’t have a house payment, because the bank was waiting on closing as it was switching from a building loan to a house loan. AND IN FACT, we had already settled that matter BEFORE the closing date was set. So finally, they set a closing date and then AFTER setting a closing date they say, “Oh wait, we got a flag saying you haven’t made your house payment.” The bank loan officer even talked to them and told them we didn’t have one to make yet and were not behind. So then it took them another 2 weeks and then they denied the loan, because they said we were behind on house payments that we didn’t have. This was the worst experience ever. It took 6 MONTHS to get turned down. We had passed a final inspection. There was no communication between people there, so they kept having to ask stuff and ask for stuff over and over. If it weren’t for a guy named David that helped us, we’d still be sitting here waiting. He was very helpful and tried his best, but the underwriters were just horrible. So, when it went beyond David after the denial and on to an appeal, they had the facts of the circumstances and still turned us down. IF I COULD GIVE NO STARS I WOULD! To make a long story short, I know they have some good reviews, but I see a lot of bad ones from people with the same issues. They simply cannot handle anything besides a plain old basic run of the mill loan. They couldn't figure out that we didn't have house payments, that it was a construction loan, and we didn't have a home equity line of credit or a 2nd mortgage. This was an FHA loan, and we were recently told by another loan place you can't get that type for what we were applying for-If you have a building loan and are switching to a home loan, with some other stuff that were particular to our loan circumstance. We suspect that somewhere along the way, after we were months into this someone figured that out (we didn't know it- we're not loan experts) that they weren't supposed to do this kind of loan, and they waited until we hadn't made a house payment to the bank over 60 days, and then used a false flag to deny so no one got into any trouble that works there. You should run the other way if you are getting a loan for anything other than a basic easy transaction.

2 years ago

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Enrique Garcia El Paso, TX

This BS company calls itself a ROCKET mortgage But is it ROCKET because it crashes on you?? Beware of the BS that this company spews. I started 4 loans with them back in June and my wife's and my credit score was over 700. They promised great rates and a fast close. Well the promised rate was good BUT the close rate.... FORGET IT. They asked for redundant tons of paperwork (which they got almost immediately) and continued to ask for more until they pulled the plug on all my loans!!! Now I have NOTHING from them and they have ALL our financial information and then some. VERY UNPROFESSIONAL AND UNREALIABLE PEOPLE TO WORK WITH. Lesson learned, if it's to good to be true, more than likely it is. Rocket is for the way they crash and deliver NOTHING.

2 years ago

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STEVEN KIRSCH Ottawa, IL

Their customer service was unacceptable! My mortgage rep (Manny) failed to return my phone calls in a timely fashion. Two days to return calls is unacceptable. They where slow obtaining the final paperwork from the Title company which caused my closing date to be extended 3 times. My real estate lawyer warned me ahead of time about using Quicken (Rocket Mortgage). When I did get the final Closing Disclosure it had my homeowner's insurance and property taxes going into escrow which I told Manny up front I did not want! When I finally got ahold of him via phone he told me there would be a $500 fee to change the escrow. Why should I pay for his mistake?! I would give this company zero stars if it was an option!!!

2 years ago

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Ned Brookline, MA

If I could give 0 stars I most certainly would. To begin with, my quicken broker poached me from another mortgage company by offering a lower rate. Of course, she glosses over the fact that this rate is contingent on purchasing points from an even higher rate. My memory isn’t crystal, but she will refer to it solely as a discount or some other attractive language without referring to the higher down payment at the close. I feel as though I've been tricked and now that I’ve realized the situation so close to closing I haven’t a choice. As well, they take eons to process documentation. I have been waiting on a confirmation letter for a week over the deadline and have had to ask the seller to extend my deadline over and over again.

2 years ago

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L & S Manahawkin, NJ

Have been a quicken loans customer for many years. Initial experience - outstanding. Just called to have a late fee waived during COVID 19 - NOT ASKING for Forbearance and was told no - payment was one day late. Said they waived in March - Hello yes that was during the Pandemic. Some people lost their job as a result of this and we experienced an economic hardship in our family. Very disappointed that they could not help a longstanding good customer who has never missed a payment and did not ask for Forbearance. They messed up our closing documents when we refinanced last year - service has gone downhill. For a lousy $43.70, they just lost a customer. Will not use them again.

2 years ago

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maxcap888 Venice, CA

Horrible experience. Very bureaucratic process. I have refinanced several properties in the past 10 years, but never had such a miserable experience as with Quicken Loans. I'm refinancing 2 properties with Quicken Loans and 65 days into it and they still have not closed. Let me preface that there are no credit issues and plenty of equity in these properties. They seems to be looking for excuses not to approve loans: A building with 8 units all covered by the same HOA insurance - Quicken Loans says the insurance is not adequate, however, 3 units just closed their refinance app 1 week before me (same HOA). Also, according to Quicken Loans I cannot even purchase my own insurance coverage. - The HOA has to buy it, so I cannot do anything about it. When I asked to speak to the underwriter to get an explanation, they said the underwriter cannot take any calls.

2 years ago

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Steven G Pittsboro, NC

They will LIE to you to get you to apply! Anything to get you to apply, including false pretenses. I received a mailer advertising a Quicken Loans Match or Beat mortgage offer. I was closing with another mortgage company in a week, but went ahead and gave them a call. Having experienced this before, I specifically asked the Loan Officer if the offer applied to Closing Disclosures as well as Loan Estimates. The flyer in the mail did not specify. He confirmed that the offer did apply to Closing Disclosure. After this, I gave permission to pull my credit to see if they could match or beat. They could not, so I was told I qualified for $250 because they couldn't match or beat it. I was then transferred to a different department, submitted all the requested documentation after closing, and was then told that no, the closing disclosure didn't qualify. I appealed, and was told someone would 'research' the situation, after I explained what happened. I asked that, if they couldn't uphold their offer, then I'd like to have the hard credit inquiry removed. This person then went on vacation for 3 days, then called me and told me they had researched it and would not honor the match or beat offer, nor would they remove the hard check because doing so may cause the credit bureaus to revoke their ability to pull credit. When pushed, she further clarified that the only way to remove a hardcheck would be for them to report it as fraud, which she stated was not the case. Despite the false pretenses and lie I was told in order to give my assent to the check. Had they told me upfront that the offer did not apply to Closing Disclosures, LIKE I ASKED, then I would not have consented to then running my credit. I supplied email documentation of the situation as proof but was still told they would do neither of my requests but would undertake necessary internal training regarding my situation so it wouldn't happen again. This is a TERRIBLE company. Their Loan Officers will say anything to get you to apply even under false pretenses, they will not honor their word or offers, they won't fix their mistakes, and they don't care if they're wrong in the situation. Please, reader, use ANY other company but this one!

2 years ago

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Terry Biesboer Fort Collins, CO

I was shopping for an opportunity to refinance...Quicken was one of the companies that I was exploring....the first conversation I had with a Senior Loan Officer who quoted me closing costs of about 4K...for me that was a competitvie number...so I gave them permission to get my credit report and begin the process...then I found the rep to be difficult to reach, hmmm, when he finally called me back this afternoon he told me that he did not good news for me, despite the reported news that Quicken was going to waive the points...he then stated to me that my closing fees would be north of 10,000! I said what? Tell me how that can be when you quoted me 4K and you're waiving the points...his response was....well we have a 1% funding fee of 1% so thats $5K and so on so forth. I said but you quoted me 4K and now you're telling me that your funding fee is $5K? How could you quote me only $4K in our original conversation....obviously he didn't have an answer and the more I pressed the less he could say. WHAT A WATE, WHAT A BAIT AND SWITCH. NEVER AGAIN QUICKEN! 03/18/2020

2 years ago

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Robert Alfano Stephenson, VA

So I see that mortgage rates are going down so I decided to start doing my research and determine if it makes financial sense for me. So I call Quicken Loans to start my research. I quickly get an agent on the phone. I told him that I am considering a refinance. I asked what kind of rates are available. Right away, this agent turned me off with his response. He sounded exasperated and said. You know you are lucky to get someone on the phone today. We are so busy. I am only interested in talking to people who want to submit an application. I am not going to quote rates to you. This lack of customer service and professionalism angered me so much that I simply said. Okay bye. And I hung up the phone. The nerve of this guy. Expecting me to go from....maybe I should look at this now, straight to....sign me up to refinance my mortgage without any research! Rude, curt, unprofessional! I don’t do business with this type of individual or company who tolerates that level of service.

2 years ago

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J e s Indianapolis, IN

If you are expecting to have a easy process, you are wrong. My daughter has been in the process for 1+ month, they have asked for documents that are literally illegal to have banks sign and stamp bank statements etc etc. They always have some reason why the document they requested isn't good enough such as "it's not big enough, it needs to be darker, you will need to enlarge and make it darker, we need your bank to stamp and sign your bank statement, oh we dont need that anymore,!! She has JUMPED THRU FIRE HOOPS for every ridiculous document that pertains NOTHING to her APPROVED mortgage! So if you want to get a Mortgage buy a home, go through your bank!! They are absolutely asking for document that have nothing to do with your mortgage. And when you send the document they are requesting its NEVER GOOD ENOUGH!! Dont get so stressed out when getting a mortgage that you are crying daily because company's like this!!

2 years ago

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Alicia Weeks Everett, MA

They are the absolute worst financial institution I have ever dealt with. Disorganized, unprofessional and dishonest. They hired an appraiser for my new construction build and provided him with the initial contract price rather than the list price (with nearly 100K of upgrades). The appraiser 'fixed' the value to the inaccurate lower contract price due to this clerical error (yes, he was definitely shady and illegal) and refused to correct the error despite the builder providing more than adequate comparable properties to him. Quicken Loans refused to acknowledge that they caused this clerical error and decided to keep my $500 deposit without making any reasonable attempt to rectify the false appraisal. As such, I could not close and had to start over with another lender. I immediately filed a complaint with my respective State Office of Commerce, who is now handling the issue. I encourage everyone who is scammed by Quicken Loans to file a complaint with their state agency as their fraudulent behavior is unacceptable.

2 years ago

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Stephanie Portsmouth, VA

I provided documentation to Quicken towards the beginning of my loan experience. My loan officer told me repeatedly for almost an entire month that my loan looked good and there were no issues. I paid $500 for an appraisal (after credit explanations I provided) and spent precious time and money only to be told a month later that my loan was being denied because of a late payment that I was legally not responsible for. Quicken refused to accept my documentation and further failed to do their due diligence to further prove that I was not responsible for the credit account. Instead they blamed me for them not ordering a credit supplement early in the process to make sure there was no issues with this. My loan officer went MIA through the rest of the process. At this point, I was no longer an asset to her. By the way, I am a mortgage underwriter with my company and fully know that they underwrote this incorrectly. Legally, I am NOT responsible for the payments they were questioning. Now I am out $500 which they refuse to refund or admit responsibility for not notifying me early on of any issues. Also, when I tried to dispute the decision by the representative regarding my money, she proceeded to raise her voice over mine and would not let me speak. I finally had to raise my voice, reminding her that I was speaking and I was the customer. Very poor customer service. I always thought Quicken was one of the best--now I realize they are just out to get money and are like any other company out there that is just trying to make numbers. I will never use Quicken for any reason, mortgage or otherwise, and will never recommend them to anyone.

2 years ago

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Kayla Wade Harrisburg, PA

This company is absolutely horrible! please save yourself the trouble and go somewhere else. Anywhere else. *For context, we bought our house through them one year ago and are currently in the process of refinancing* Writing everything this company has done so far would take a novel. We have been lied to, deceived, and put on the back burner. For starters, they let our initial loan's insurance lapse. They never paid it when it was supposed to be in escrow. Their excuse was that they didn't have the company's correct mailing address. On top of that, they're trying to punish us for their mistake; they're trying to fine us for lapsing. They never even brought this to our attention. If we hadn't started the refinancing process, we would have never known that this was going on. Now on to more current issues... They claim that you're supposed to close on your refinancing loan within 28 days of starting the process... We are now on day 100 and still have no hope of setting a closing date anytime soon. None of this is our fault. Everything that they have needed, we have gotten to them within minutes of them asking for it. It takes them 3 to 5 days to "review" anything when they publicly claim that it only takes one business day at most . They also waited until we were about to close to call us and tell us that our entire loan had to change because they messed up in the beginning of the whole process.. that set us back an entire month. They never get back to us, they never answer our messages and our last phone call was very unprofessional . My husband actually had to hang up on them. My parents were able to refinance through a traditional Bank 10 times faster than this company ever could. Please save yourself the trouble and go somewhere else. I would have given them zero Stars if that were an option.

3 years ago

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Ryan Essex Junction, VT

For the past two weeks, we have made multiple to attempts to close our loan application with Quicken due to a handful of odd communications between AMROCK, their closing firm, and our realtors. All realtors involved suggested we switch to another lender immediately which we have been trying to do for two weeks to no avail. When you have a problem with Quicken, the person assigned to your account just gives up and sends you to a 1-800 number in Detroit. We spoke with someone who promised us it would be handled within 24-48 hrs. Two weeks later, I just received a message from someone else saying "We have been trying to reach you, if you dont get back to us tonight we will be withdrawing your account and youll have to apply again." No one contacted us and we are being threatened with the exact thing we asked them to do. This has been unprofessional and nauseating. I would NEVER trust Quicken or Rocket Mortgage to handle my child's piggy bank, let alone a mortgage. Do not work with these people as you will find yourself in big trouble if something out of the ordinary should arise.

3 years ago

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[email protected]$ Sandy, TX

Avoid, avoid, avoid!! This has been an absolutely awful experience. We started with a simple loan that we more than qualified for. We were doing the back and forth thing when the communication went dead. We emailed, we called, we made smoke singles, we did everything that one would do. We had been scheduled to close in four days when we received an onslaught of bs that we were supposed to complete, including paying 35k worth debt. Not a problem except for the fact that this would extend everything out even longer. So much so that the seller decided against extending it. We lost our earnest money, $3500. We posted our rental back up early breaking the lease, $2000. The cost of an appraisal $1,000, and so on. The go ole teams at Quicken Loans were more than useless in handling anything or caring for that matter. Like I said in the beginning, AVOID them!

3 years ago

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Vicky San Antonio, TX

Quicken Loans approved me for a home loan. I was set to close on 9/20/19. On 9/18/19 title , myself and my realtor received the clear to close and i signed and submitted my final disclosure. Title called me to arrange my closing time to sign the final paperwork. I sent in my closing cost that very day because Perch is not local. I was thrilled 2 more days and those keys are mine. The same day i received the congratulations email on my clear to close, that very evening i received a phone call from the lender [quicken loans] that they had pulled my loan out of closing due to an employment gap and that i should have never been approved to start with. Both quicken loan employees apologized and admitted to error on their end. I just could believe this was happening. Less than 2 DAYS before closing they tell me this. To make matters worse i lost so much money. $2000.00 in Ernest money, $500 deposit at quicken loans , $ 450 in home inspections. I transferred utilities, my rental is completely packed and i mailed my closing cost . I'm out thousands of dollars with no home to show for it. Naturally i took this matter up the chain speaking to a Catherine A. Where see seemed remorseful for all quicken loans has put me and my children through , but responded that shes going to do an investigation to see if i should receive my $500 back. What about the other money???? On my approval letter it states that the customer is guaranteed $1000 if they don't get to closing . When i inquired about that she placed blame on the actually broker and would not honor it before a proper investigation had been taken place. Needless to say this has been a nightmare and i would not recommend obtaining a loan through this company.

3 years ago

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Steve Waldrip Eden, UT

If you are not a W2 employee, avoid at all costs! If you have any complications at all becasue you own your own business, own real estate, or have anything outside of a narrow box, run away, fast and hard. I just endured a 4 month loan approval process with Quicken Loans/Rocket Mortgage. The front line person assigned to me changed several times and there was little to no consistency to the communication between the front line loan officers and the underwriters. In the end the underwriters rejected using proceeds from the sale of a (legal and from a wholly owned parcel of land) as a source of income, information they could have told me three months prior (as there was no change from that point forward). Instead, they and I wasted three months jumping through innumerable hoops, and I was required to purchase a $1000 survey of my newly built home in order to complete the title process, and immediately following my purchase of that service (they offered it to me for $1400, I found it for $1000), they told me that I was denied because they couldn't document $3600 in acceptable funds for closing (again based on information they had for the previous three months). At that moment I had approximately $620,000 in cash in my personal accounts. They have refused to refund any of the $1500 of my out of pocket expenses, which would have been mitigated had they simply communicated with me when they first had that information. It was absolutely insane. I suspect that because I had an interest rate locked at 3.25%, and rates had gone up in the ensuing 4 months, they didn't want to do the loan and found an excuse not to. Shame on you Quicken Loans. Your lack of institutional integrity will come back around, as it always does in corporate America. We've seen it over and over.

3 years ago

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M F East Greenwich, RI

STAY AWAY, I would not recommend Quicken to anyone. One of the wort customer service ever. Don't be fooled by the fancy commercials. I had a mortgage with them for about 2 years now. 1 of my tax bill from the city was not delivered and was sent to them. They immediately established an escrow account and increased my monthly payment. I contacted them and try to resolve and even sent them proof of tax payment but no way. They treat you as a delinquent customer. I have my monthly payment setup a month ahead recurring and have never been late. The answer I got from their "executive team resolution" when I said I would file a complaint with the Attorney General and I might go to Court, was that they have the legal means to go to any court. This all for a $300 tax bill they received in error. I even provided them proof of payment. They reported me as late because the full payment including escrow was not received, even though my payment was on time a month ahead. My credit dropped more than 100 pts. By the way I asked for arbitration, they have none. Seems like they are working to push more and more people into delinquency to increase their write offs. This is a shame and probably illegal.

3 years ago

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l.c. Escondido, CA

Quicken (also known as rocket mortgage) originated my refinance home loan.  i had no problems with quicken until now.  they transferred serviceing my load to Loancare LLC. Loancare LLC charges fees for everything and the fee amounts are more than double including charging $15 to use their automated phone system here’s a sampling of ‘special request fees’: Pay by Phone $15 Automated Phone System $15 Online Payment Fee $10 Payoff Statement Fee $60 I would attach a picture of what we sent me, but I can’t embed or attach picture here a payoff statement is free for the mortgage I have with third federal. Quicken charges $25, Loancare charges $60 ! so, beware: at some point quicken will transfer your loan servicing to a firm whose business plan is to overcharge for everything (just checkout the Loancare LLC ratings) You may be happy with quicken/rocket but that won’t continue when they transfer your load to loancare llc

3 years ago

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Edward Sullins Morrisville, NC

I contacted Quicken Loans to compare a loan package I was offered by a builder on a new purchase. The loan officer asked me a few questions and requested to run my credit. I told her that I wasn’t ready to have my credit checked. I was approved by another company and want to know if Quicken Loans was competitive. She gave me her buyer beware spill about the offer received. I explained to her that my wife is a license real estate broker, we did our homework and the companies offer was reasonable. She told me to call her back when I was serious about using Quicken Loans to buy a house. I asked her directly. “Are you telling me on this recorded line that you won’t give me the current rate because I won’t let you run my credit.” She replied with a very authoritative “YES.” If she couldn’t beat the other company’s rate, that’s fine. There is more to a loan then the rate when you must work with the Lender for 30 years. The fact that she felt bold enough to speak to me in such a matter tells me a lot about Quicken loans culture.

3 years ago

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Derrek Line Effingham, IL

Ruined my life. I was one week away from closing. They didn't realize the home was a manufactured home until 1 week before closing. This means the house i was living in was already given up. My credit took a hit for the hard inquiry, but still had to go shopping around again. I wasted countless hours gathering so many documents. For them to call me and just say Sorry we can't do the loan now. I told this company from Day 1 i was NOT sure what the home was but PER the county is was not a manufactured home anymore since it was "assess to real estate". I understand starting the loan and my uncertainty can not be held on them. BUT i called them as soon as i found out there WAS a title meaning i had been considered a manufactured home, but shouldn't be now i was told it would NOT be an issue. I stated in my call i needed to know because i don't want to spend money or make decisions on a maybe a month before they pulled it from under me. I was ASSURED everything would be fine. Now i don't have a house. Landlord has someone wanting to move into my current house. They would NOT refund me the full amount. Not to mention the grief the sellers had to go through. I WILL say some employees there had GREAT customer service, while others, i won't name, were horrible. There is so much more to be said, but SUMMARY: Wasted $600 to lose my house, hurt my credit, wasted a LOT of time. I admitted to not knowing what i was working with but gave them everything i was given. County appraiser involved and all. Very sad that big company like this can ruin someone and not bat an eye.

3 years ago

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Holley McCoy Saint Augustine, FL

Quicken is too big and too many divisions that don't communicate with each other. This was supposed to be a quick process to refinance (initial refinance was through them and that was complicated and bad enough). This time it is worse. They couldn't even communicate with their different divisions with Rocket and Amrock to send the final funds to us - couldn't send a bank transfer, had to deliver via UPS then it was delivered to the wrong address. My mother is still phoning to try to sort this mess that THEY caused out because they don't have their communication systems sorted out. When it comes time to sell, and buy another house, we will not go with Quicken but someone local.

3 years ago

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Bill J. Chapel Hill, NC

I recently refinanced my mortgage with Quicken Loans after being a customer of theirs for the past 7 years. They had stated that they would include several credit card debts with my refinance including a student loan. When I received the pay out checks to send to the creditors, two creditor's checks were not included and only a partial amount of the student loan. I also had to follow up with the loan rep regarding when my closing would take place. Finally a closing team member called me and informed me that we had to close within the next two days to keep the finance rate that was quoted initially. No earlier notice was provided. If I was to try to extend the deadline for the stated refinance rate, it would cost an additional $500. As soon as I am able to find another lender I plan to refinance again as this is not a reputable company as far as I am concerned. I wish that I had done more research on available mortgage refinances as I would have choice a different lender. Please be careful! They promise many things!

3 years ago

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Nathaniel Morciego

It all started great as any new relationship, proposed closing date within a month and all, it was supposed to be a simple transaction, refinancing a house with over 40% equity, excellent credit, great income.... all a sudden I start getting calls every other day about missing info, from different quicken loans reps, info that had been sent go one of them already a few days ago, I reply to each with requested info always informing that the info requested was already submitted, responses vary from different divisions to different positions and so on... I have bought 4 houses in the last 15 years, sold 1, so I am pretty familiar with the process, and I am a patient guy, but after over 2 month and no closing date on sight, quicken loans calls now seemed Scam Likely calls, I had to cancel everything, of course my credit was already ran, the 2 month lost and forget about all the time on the phone explaining my self to every new rep that called me, it is like I never had a file, that rocket account was a total joke, they added and remove information at will hence the call the next day from a new wannabe banker to harass you about the same info that was deleted, will never recommend or make business with quicken loans

3 years ago

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Heather Smyrna, GA

The process with Quicken started off well but did not end on a good note. Our representative was communicative and friendly. He talked us into "re-casting" our loan which basically means you don't have to put 20% down right away to keep more of your cash liquid. Then, once the sale of our previous property went through we could put down the rest and all we had to pay was a 100$ re-cast fee. Well, imagine our surprise when we went to pay off our PMI today and was told we must make 2 mortgage payments with PMI until we are eligible to re-cast. Ahhh of course, the hidden terms no one discussed with us. We were able to put down 20% at any time but were talked into re-casting. I am disgusted with the sneaky salesmen tactics we received when procuring a loan from here - buyer beware.

3 years ago

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Kimber Charleston, SC

I contacted Quicken via Rocket Mortgage along with a few other lenders for pre-approval. I should have known from the get-go that it would be a bad experience as it was an act of Congress to get on the phone with the loan specialist handling the pre-approval. After finally getting him on the phone and talking through the details, the rates were better than what I'd been quoted before and so I decided to move forward. From there I was handed off to a "triple crown" senior purchasing specialist, who was hiding her ineptitude behind a fancy title. Things quickly fell apart. We were approximately a month out from closing when the appraisal was ordered. We received the report toward the end of that week, which was lower than the agreed upon price. The seller decided to dispute. My POC, the purchasing specialist, advised that she had sent the dispute on to the AMC who would send to the appraiser. She then left office for 3 days. As we were approaching 2 weeks to close, I asked for updates from her backup. This person clearly had no idea what was happening with my loan. After a slew of confused emails, she confirmed that the dispute was sent and that she had RESENT it, just to be safe. Fast forward to the end of the week without any answers, and the real estate agent lets me know that the appraiser has no idea there is a dispute at all. At this point, I decide to run it up the flag pole myself. I get on the phone with the "senior research team" (which I have dubbed the 'do anything to save your business team'). Sure enough, a couple of hours later, I get a response from that team. Quicken had never passed the dispute on, in fact, it needed to be vetted by their internal team first. Obviously I had no idea that this was the case as I had been falsely assured that the dispute was handed off twice (and never told about any internal review). Since I was shaking trees, the team finally reviewed it and decided it did not warrant being passed along to the AMC. After losing an entire week, the seller agreed to drop the purchase price to the appraised value. That is done, and I am told there are a couple of outstanding items before we are clear to close. Time passes and although I ask for updates, I get vague responses hours after I submit them advising that I'll be told when we are clear to close. 2 days from closing now. I try to reach out to my POC and receive no response for hours. I reach out to Quicken via chat, and the rep advises that she will "try to put a rush on" the outstanding item - the condo review. I tell her that I am going to escalate it myself and go back to the senior research team I contacted in the first place. I reach out and explain the situation, and the do-anything-to-save-your-business guy tells me that he will have this sorted ASAP. As I wait for his response, I get a message from someone that my POC (sr. purchasing specialist) is out of office that day and she is filling me in on her behalf. I had NO IDEA she would be out of office. 2 days before closing! Now, the kicker: I get called by the bad-news guy to tell me that there is an issue in the condo review that would break a Fannie/Freddie rule unless I put another 5% (or $13k) down. This is after 5pm on Wednesday, when we are supposed to close on Friday. He tells me that I can have this gifted (I.e., ask some poor, unsuspecting family member for $13 thousand dollars) and then we will TRY to keep your closing date - but Friday is "not a slam dunk." If there was anything in this process that could have precluded Quicken from closing on the agreed upon terms, why on earth would it be the LAST ITEM completed in my loan application? Why would it not be completed BEFORE ANYTHING ELSE? Thank everything that is holy that my husband and I had the forethought to continue renting our current place through the month of June. Otherwise, we would have been forced to a) liquidate money from retirement, b) ask family for money or both in order to *hopefully* close on the home and not be homeless with a son and pets. After Quicken mishandled our loan application worse than I could have ever imagined, we found a professional, local lender who not only offered more competitive rates but was able to approve the loan with the original terms. I would warn ANYONE against contacting Rocket Mortgage/Quicken Loans. The home buying process is stressful enough. Understand that you will submit questions or concerns into the ethos and hear nothing for hours. Understand that in the absence of your main POC, the likelihood of speaking to anyone who is remotely familiar with your loan application is nil. Understand that when you are on the ropes because Quicken has fumbled something – you will be told that you can only talk to X because that person is “assigned” to this issue. Do yourself a favor and avoid a lender that will drop the ball less than 2 days before closing and turn your living situation upside down.

3 years ago

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Shelli Barnes

Nothing they did well. They had me jump through a lot of hoops, email them a lot of documents. I was trying to refinance my house to get the payments lower because I was going to retire. My house payments were $794/mo The final deal was to borrow $75000 and get a $16000 payout, ok I didnt really need that much but that was the best they could do. My payments would be $680/mo for 15yrs. I had to go to my bank for yet another document they wanted me to send them so I asked one of the people in an office for it and told her why I needed it. She asked me if I had ever thought of them to refinance my house, I hadn't so I sat down and told her the deal Quicken loans made me and to see what the bank go do for me. She figured out that quicken was charging me $6000 just in closing costs! Regions Bank didnt charge me any closing costs and I only had to borrow $52000 bringing my house payments down to $411/mo for 15 yrs. with a cash out of $10,000. Much better, quicker and a lot less hassle. Rocket mortgage/Quicken, same company, is Not Quick, they make you jump through too many hoops, has hidden costs and a lot of hassle. They dont like taking no for an answer. He wanted me to send him the deal the bank gave me, I didnt and I will never do any business with them and I will warn my friends against them.

3 years ago

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Al H. Vienna, VA

I have a high credit score and sufficient income, as they also confirmed in the beginning of the refi process. It took them 45 days to send me from one department/process to another, different people responsible for that process and so on. It boiled down to providing just two more documents, me paying off the car loan and my credit card. I did them both and send them the documents. They kept saying we need a document saying you have paid your balance on your credit card. I sent them 3 documents instead of one. Their intelligent underwriter department could not read or understand two simple bank documents saying I paid off, and neither the amount withdrawn from my checking to that CC bank. The last person in charge of the process was a complete idiot who did not know the process, and was constantly out of the office just giving lip service. I only found ONE person who was genuine, and that was Bob G who really tried to help the situation at times. Finally I got sick of them after 45 days of run around and went to a local bank. Main Street Bank in Fairfax, VA approved me in 3 days from the time I provided them basic documents and I was at the settlement 10 days later!! QL offers people good teaser rates to get you to sign up with them. They have NO intention of providing you a loan with that rate. This is all part of the show that would gather more applicants, so they can CLAIM that they have the highest number of loans/applicants in the country. Highest number of applicant to fill their quotas ??? Save yourself, find a better bank, possibly a local bank or other, and save yourself aggravation of dealing with incompetents and showmen !!! Al H., in Virginia

3 years ago

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Sandra

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

5 years ago

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Kevin Hilo, HI

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.

5 years ago

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Kimberly Huebner Saint Louis, MO

Quicken loans will LIE AND STEAL YOUR MONEY! Had a very bad loan process with them, was told everything was good to go had pre-appoval letter before i ever began finding a home. Then a little over a week before close they said no. I am out the cost of all the inspections and they charged me $500 for a appraisal I told them to not do unless it was guaranteed to close. I was charged the fee. They lied and said it would not be done until then. Everything is supposed to be recorded but was called from and I returned my calls to my contacts personal cell phone. Guess what they don't record those. So I was charged and never even received the appraisal. I am out 1200.00 for a home I wasn't able to close on. I feel robbed!

6 years ago

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Camille Noonan

We were contacted on the computer per a request for mortgage rates. We picked them with reluctance since we have had a past negative experience. We sent them all requested paperwork-as we were/are looking to build and sell a home. We thought all was ok-even had the support letter. One day the Representative calls us-everything seems ok-he said nothing. Then we receive a letter that they cannot provide service at this time. Threw us for a loop. No way to run a company-very unprofessional-could not get through to the Rep again-called and told the same as the letter. I would never Recommend them to anyone-should have listened to my instincts!!!

7 years ago