Quicken Loans

We recently had our home in Charlotte, NC for sale. The buyer used Quicken Loans instead of a regular well founded bank. Quicken Loans appraiser, Robert ** did the appraisal and did NOT get the square footage right, or address the huge workshop on the property. He also stated there were 3 bedrooms instead of 4. When questioned about this by our realtor, he refused to change the appraisal which cost us (the seller).

We put new carpeting in the lower floor, new SS appliances, did a major update to the master bath, to mention a few. ** also did not note that the house is brick!! All he cared about was what the surrounding properties sold for. He had never been in any of them but was quick to make comparisons. When selling your property it should be judged on its own condition and NOT what the idiot appraising it thinks. If you are considering using Quicken Loans, DON'T. Use a bank that you trust, and don't let this man appraise your house or it will cost you dearly.

6 months ago I called to Quicken Loans (Q&L) for a Mortgage loan. The agent was deception by not telling me that there is 3 points in closing. After getting all the information and pulling my credit, he said there is a 3 points, which amounts to $7500 for a loan of 275k, plus closing cost. I felt violated for Q&L not being truthful upfront. I later closed the loan with 3% rate Wells Fargo with 0 point. Today again, I tried to borrow 50k home equity loan against the equity of my house. I had a correspondence with them. The email said: "Currently, we do not offer second mortgages or home equity lines of credit, however, we do offer loan programs that allow you to take cash out of the equity of your home." (Did not clarify that they will take over the first my first mortgage and allow to cash out of 50k).

When I called Quicken loan, agent said he can offer a 2.99% rate for 50k loan. After repeated insisting if there is any point for this loan the agent refused to give that without pulling credit. Reluctantly I provided the information for pulling my record. After pulling the record the agent said that there is 3 points. I was furious and talked to a director level officer. When I tried to understand the cost of point, only then I came to know that I have to borrow the entire first mortgage of $270k and 50k for which I have to pay 3 points. Which will be equal to 9k plus cost of closing (could ran up to 15k). I said my current 270k mortgage is at 3%. Why would I bring that with you and pay 15k closing cost?

So, they were totally deceptive in disclosing the facts that one could take to make decision whether to go forward before pulling credit. I felt extremely violated. I am going to write JD Power and associate and ask them how could they rate Q&L to be number one. I will also file complaint to US Fair Housing agency. I will also spread the deception story to the community I live, I would strongly encourage you to stay away from Q&L. Do not let pull your credit until they informally commit to a rate with your information. They will always bring surprise after they pull your credit report. I do not know what prelease do they get by pulling someone credit and thus affecting their FICO score. Please stay away from Q&L, if at all possible. They are cheater number one!

When I applied for a loan my representative told me that the appraisal was not enough to loan us the money needed. NOT TRUE. The appraiser made a mistake, never heard from Quicken again. This happened over a number of years ago, I have refinanced with no problems though Loanleaders. Quicken needs to learn from them.

I decided to do business with Quicken Loans, and I regret every minute. As a customer with a 805 credit rating I decided to refinance my house. The people at Quicken Loans were very evasive on the settlement fees at first. The guy quoted me 1,100 dollars in settlement fee, and by the end of the settlement it came to $1842. He talked in circles when quoting an interest rate of 4.99%. After filling out all the paper work, he hit me with a $500.00 dollar good faith deposit which I thought would be refunded to me. It's been twenty some years since dealing with a financial company. I will never deal with this company who has a credibility problem. By the way, the guy told me all during the process they never sell their loans. They did, after two months to Freddie **. I blame myself, never again.

My husband decided to check to see if we qualified for a home loan. We did. We hadn't even found a home we were interested in yet, we just wanted a ballpark figure. After looking through these reviews, we took the advice of others and went with a local company. I forgot to mention only my husband authorized his credit ran, I never spoke to anyone. My credit was ran by them 5 times in 1 day.

The rep the hubby originally spoke to began harassing my husband. 10 to 20 calls a day, this was after we had advised him we went local. Then my personal and business phone started the same thing. We both blocked the guy's number realizing he wouldn't stop. Now, for the kicker. Quicken turned around and gave (or sold) our personal info to multiple companies. I get over 2000 emails a day, and another 30 or so phone calls. They are all companies that think I am trying to refinance my current home. We paid cash for our current home, sorry nothing to refinance. Our new home is closing escrow in 3 days, can't refinance that either. They continue to call with the same b.s. I have asked to not be bothered, I am on the DNC list, and they refuse to give me their physical address (I believe that is required if asked).

Please do not use quicken loans or any of their affiliates. Do research on local lenders. Going local means you build a relationship with the person. Going local also insures they will use a local appraisal company, not someone that doesn't know the market in your area. I am taking legal action against this company as well. I never agreed to them using or selling any of my information. These third party companies also have my SSN and other personal info. PLEASE DON'T WASTE YOUR TIME. As you can see in other reviews, they will also charge you fees if you let them. I'm lucky I didn't get that far!

The absolute worst mortgage company you will ever come in contact with. After submitting about 200 documents, we finally get to the appraisal which you have no control over, and the appraisal is low balled and then terms of the loan -i.e. interest rate and amount of loan has changed. They lie from the start to reel you in then run you around with paper work to the point you just want a conclusion to it and then drop the screw over on you at the end. I will never do business with these liars and I recommend you find someone-anyone else to get your mortgage loan thru. An invasion of your privacy and a waste of your time, and oh yes reviews like this are very common for this company. STAY AWAY!

They told me 27 days to close. We're now at 38 days. Three days before closing they come up with another excuse. We talk to 12 different people. They keep asking for a repeat documents. None of them communicate with each other. These people are very unprofessional. Very uneducated. They are not worth the time. Save yourself a headache, go to a regular bank.

Appalling Loan Officers. We attempted to refinance our home with Quicken Loans for the second time (we refinanced through Quicken Loans in 2016 and had a great experience). We had an appraisal done through another mortgage company (Paramount Equity) and the appraisal was so undervalued compared to other homes in our area by negative $22,000. All parties involved in our refinance loan with Quicken Loans was well aware of this low value appraisal, but we were told that their underwriters would use the appraisal they had done in 2016.

They were collecting information, we were signing documents electronically and were under the impression that the loan was proceeding on time. We emailed them about the closing terms and were then informed by an extremely unprofessional person that our loan had been suspended at the beginning because of the low appraisal. We were horrified, confused and blindsided by this person. He screamed at us, talked over us during the entire conversation, and was extremely rude and out of line. The mortgage banker through Quicken Loans had no idea this was happening and she was as horrified as we were. Needless to say we will never, ever use Quicken Loans to finance our home. They treated us as if we were stupid and illiterate. Stay away from Quicken Loans unless you enjoy being treated like crap!

I went through LendingTree and got to these bozos. First, I dealt with an agent named Tree **, he went MIA (he was used to reel me in) then I got someone named Tim **, then after that, I got Justin, Ryan, and other folks that claim to "want to help" me finalize my home loan. It is several weeks AFTER my original closing and it has continued to get pushed back. No one talks to the other. I resubmit information on a daily because one of the agents/loan officers have no clue that I already spoke with the other about THE SAME INFORMATION. I've submitted 100s of documents and from what it seems, I'm still not done!!

My real estate agent's also frustrated. I'm beyond livid and want to inform others that Quicken Loans has been a nightmare. Buying a home has its ups and downs but I'm to the point I want to throw in the towel. DO NOT USE THEM FOR ANYTHING!!! Look for local options, do your homework when choosing home loans, I honestly wished I had. Lesson learned...

The Quicken Loans team did well with getting all documents taken care of and on time. However I was entitled to $725 subtracted from closing cost and $500 check written to me at the end of the deal. This was a deal my employer had worked out with Quicken Loans. I missed out on this deal and when I called to alert the team about it, I was outside the window where they could at least write a check for $500 by a few days. I know Quicken Loans can't know all the deals all the companies make but they can say one simple sentence that will fix this problem for everyone else in the future. "Does your employer have any deal or discounts with us, many employers do, why don't you check". The only reason such a smart company like Quicken would not teach their employees to ask this question is if they really don't want to give out any discounts. Prove me wrong Quicken and start teaching your employees how to communicate better!

Received first time homeowner’s offer from Pete at Quicken Loans after registering with LendingTree. Received numerous follow up phone calls from Pete to see how I was doing and to offer guidance. In May I uploaded all of my pay stubs and child support that've received for the past two years - court ordered - along with numerous other required documents. Found a house around June 20 and submitted my application along with a $500 fee. Pete said all they needed was my last pay stub and the contract. Got both uploaded the next day. Pete said everything looked good and congratulated me. Three days later they sent an appraiser, apparently before the underwriters even looked at my income.

Several days after the appraisal the underwriters finally looked at my income and all of a sudden child support was an issue. It was the same documentation I submitted in May. Actually my ex husband has been sending extra because he knows I am buying a home. Not only is the child support (arrears) court ordered, but my ex has his social security garnished every month. Since last July it has hit my account every single month between the 6th and the 8th. Except for March, it was actually MORE than the usual amount because ex sent extra on the same day the federal money hit. He is trying to help out as he had fallen behind for years while I worked over 50 hrs a week to support our daughter. I then sent them the actual garnishment letter from social security showing the exact amount taken out of his check and the exact month it started. Guess what - matched my child support statement exactly.

I also have a life insurance policy that will cover the amount garnished for 5 years after his death. Still not good enough. The reason given to me today after wasting almost 2 months of my time and possibly costing me the opportunity to buy a house that I absolutely fell in love with, get this - the payments were inconsistent because he sent the extra money sporadically. Seriously. It was extra money so I could save the garnishment for the down payment!!! I could understand them questioning if payments went down, but they have continued to go up over the last 10 months! Do NOT use this company. They scam you out of $500 for a useless appraisal. I will be reporting them to the consumer protection finance board - gathering all documentation now. I found a reputable company that does not ask for a 500 deposit and will not send the appraiser out until my income is verified.

Instead of running my credit once they ran it three times. Did a mortgage offer come from this? No. Of course not. I spoke to an employee that volunteered the info that he was in his 2nd week of training. Incompetent. Their multiple checks dropped my credit score 6 points, which will make my next mortgage offer much worse. AVOID AT ALL COST.

I approached Quicken Loans about refinancing my house to a lower rate, lower payment, and lower repayment term. I wasn't asking for any money taken out. I had to pay $500.00 (Good Faith) down payment for the appraisal. I worked on the terms, came to an agreeable amount, interest rate, and duration of the loan. All that was left was the appraisal. I had just looked at my Zillow Estimate ($201,000) and Rabobank ($208,000) as guides for my loan. I was shocked when the Quicken Loans estimate came back at $185,000. After digging into it, I found that out of ten recent sales in the last six months, they chose to use the lowest three (two of which were foreclosures). Immediately my loan terms changed, they were adding money to the monthly payment, adding PMI, etc. I even noticed that my escrow amount changed by $25.00.

I called and asked for explanations. "Well, we are JD Power award winners, and we are a trusted name in the mortgage industry, yada yada yada." I asked "how in the world did my Escrow amount go up $25.00 after your appraisal came back $15K-$20K lower than the others? My taxes hadn't gone up and clearly you think my house is worth less." "Well, the insurance amount we originally had was a lot lower than the actual amount came out to be." "How did you come up with the original amount? Throw at a dart board?" "Well, we don't have access to that so we had to ask you for the amount."

So I gave them the original amount, it didn't change from then until now, and somehow it was off. The total games they played, changing of the terms, lowballing me on the appraisal, is exactly what I was warned about. I tried to give them a chance and they just try to manipulate me. Oh, when I called them on it, they informed me that if I brought $3,000.00 to closing I could get everything back down to the original terms. What a crock. Avoid these people like the plague. Go with a real bank or real estate company.

I used Quicken to get a home loan. They approved me for 350k. Sent approval letter right away then when I talked to them they refused to use a secondary income I have which was verifiable and been with them forever. They didn't even want to hear anything beyond. Just kept calculating. I went from 350k loan to 145k. Beware. They are quick to approve but I think they are in the business to deny. I don't know how they can be rated one of the best. They are one of the worst. I did get the loan even though they said I wouldn't.

In my opinion the loan officer was very pushy. I felt like my needs were the least of his concerns. He was more interested in closing the deal than what was the most beneficial to me. He said it would take him at least 30 minutes to get the figures together and email them to me but would waste his time unless I committed to filling out the loan. I did not want to apply for a loan until I knew the facts. Very unprofessional. After a lot of frustration with him, I finally asked him not to call me again. I would highly recommend you take your business elsewhere. I certainly did.

Nathaniel and his team including Ryan and Michael could not communicate with one another causing problem after problem. We got passed around multiple members of their team and in the end did not get the loan because of a "technical error" which they didn't mention to us for more than two weeks. In the meantime they were adding to our "to do list" which was incurring us actual costs. All they had to do was say, "Hey we noticed a small something, don't do anything else until we can get it figured out." Instead we got a, "We are sorry this is an unfortunate circumstance. There is nothing we can do." It wasn't an unfortunate circumstance, the entire problem could have been avoided if they had communicated, not just to each other but to us.

I've been dealing with Quicken for a month trying to get a mortgage together. My wife and I call it SICKEN Loans because of the incompetence and lack of communication. Lots of flowery talk from reps and even on their hold message, but their actions show they don't really care. They wait until the last minute to tell you what they need. They took years off my life. Do yourself a favor, stay away from Quicken!

I realize they are in business but when I went through a recent month long hospitalization I called hoping to defer a house payment for one month. I have never been late or missed a house payment EVER. They were very sorry but they suggested I just not pay the payment, let it hit my credit and then maybe there would be some program that would help me pay it. Oh and by the way try my car payment. "They are more understanding" the representative said One time I ask for help and no thanks. So much for nothing. Won't ever refer you.

Your DTI (DEBT to Income Ratio) is more important than your credit score. If you get pre-approved based on credit score, don't go shopping around until you know your DTI is within underwriters guidelines. I'm a Veteran now on Disability, and wanted to be qualified solely on my VA disability alone. I've had some credit issues. I was close to the minimum requirement of 620, when my credit was initially pulled in Feb 2017 about 34 points off. They immediately want you to work with their In house credit team, just so you can get the "Pre-Approval"... in my experience in the profession. The pre-approval means nothing, if your DTI is not in line... Your DTI (Debt to income ratio) is everything. It was recommended I get a secure credit card to raise my score. I did get one with a $200 deposit, my credit score did raise up. I already had a small business credit card from Cap One, it just took 2 months to show up. I still went ahead with the secure credit card.

I had funds to pay off my car, but was advised by the In house Credit Rep, that paying off my car wouldn't necessarily raise my credit score. Word Of Advice to fellow Readers. Red Flag there, I asked about my Debt To Income Ratio when my credit was first pulled. Why go through 2-3 months of building your credit, and still get denied based on High Debt to Income. I have student loans that are in deferment because my income (disability/VA) is non-taxable. I get re-certified every year, since I’m rated at 70% and not 100%... I could have paid off my car loan, then try to refinance my student loans.

When I had my credit re-pulled in Early May, it took the Underwriter less than 24 hrs to deny be based on high Debt to income ratio. The underwriters don't even look at debt to income, if your credit is denied the first time around. To only have me re-apply with a 638 for a VA home loan, and deny me after spending 2-3 months improving my credit. Crazy thing was the fact I was giving a pre-approval letter. The banker, was like, “Congrats.” I said, “Pause, my student loans/DTI is ok?” She was going to send me out looking for a home, act like everything was all smooth and gravy. And it took less than 24hrs to deny me.

Word of Advice - find out what your DTI is before you run off shopping for a home loan, if you get instant credit approval. Better Yet, have the company ensure your DTI is within underwriting acceptance before you shop around. I wasted 90 days, and spent $200.00 on getting a secure Credit Card I don't need. If you have student loans on 12 month deferment, they need to be refinanced.

I would definitely recommend this company to others! My dad is obtaining a loan through this company but I needed to provide student loan information to them. They have been very easy to work with and the representative Alexandria has made my experience with this company a positive one.

I don't write reviews but feel it's in everyone's best interest to be informed about this loan company. I'm a first time home buyer and has no idea what to expect but have a very seasoned professional realtor. I'm closing next week yet the process was the most stressful and disorganized fiasco I or my realtor have experienced. Quicken tends to create their own issues with your loan. First I was told for 4 weeks that I was getting a Fannie Mae loan... when it's actually a Freddie Mac. They are both federal guaranteed loans but a few different requirements. One is that the condo is insured by the HOA for a certain amount. They contacted me last week to let me know it was underinsured and I would lose the loan unless the HOA increased the amt... which I have no control.

Later, I find out the Sr email was adequate insurance and QL was incorrect which caused undue stress. Then I was also told that I would receive acknowledge the 500 dollar appraisal fee at closing. Funny, sounds free huh... nope. They are just deducting this from what you have to pay for escrow and closing. So, it's not being returned but rather you are paying for it earlier rather than later. They also told me they had a special program since my FICO score was so good. They would put down 2% and I would put down 1%. The made it sound like this was special to QL... It's not. It's what happens when you are a first time home buyer using Fannie Mae or Freddie Mac. So, I could have gone to anyone to get this type of loan not just them.

You never get a chance to speak to your loan specialist but rather the people that are part of that TEAM. There is a department for every aspect/step of your loan. The special issue team... Problem solvers are very rude and are no help. When he told me I might lose the loan he said "sorry for your inconvenience ". Really? Inconvenience... This was my life not stabbing my toe. I was financially invested into the process not to mention working two jobs, packing and all the stress.

I'm glad that it's almost over but it could have been better organized with better honest upfront communication. They talk circles around you without a direct answer. They will say you are approved for the loan but they only mean you are in the process. You are not really approved until they have told you that the underwriting is finished and you are scheduled to close. Most employees are extremely nice but by having so many people with their hands into your loan process it becomes painful and nobody really tells you where you are really at in the loan.

So, please check into banks rather than loan institutions. I only chose QL due to reviews on the Internet and their awards for customer service. They are kind but disorganized. Remember they will ask you for everything they can think of then more. I paid off a credit card with a 40 dollar balance. They wanted a statement showing it was paid, another statement showing a zero balance and a bank statement showing that my 40 dollars came from there and that it cleared. They do this for every little credit card you have paid.

I can understand larger amts needing to be accounted for but really a 40 dollar credit card payment off is that big of an issue for you... Maybe focus on the larger picture like checking into the insurance the HOA carries on the condo before worrying about each little insignificant detail of my low balance card. If they would find out if the building qualifies for the government backed home loan before proceeding into personal finances they could save borrowers time and frustration.

I call Quicken Loans to see if I could get a loan. So the first thing they ask is for my credit report. So I agreed and so they did. Except that instead of pulling just one they did it 5 times. Yes they pull the report duplicated in two bureaus. So my credit report immediately drop 10 to 20 points. Needless to say they do not work with my type of income (Independent Consultant). Then I call the bank and they are happy to assist. Banks are harder to work with but they are doing it. I wish I had never call them. Totally useless.

I filled out the required information online to shop for a first-time mortgage, and ever since, I get spam mail addressed to me with my middle name (which I NEVER use). I am also getting telemarket calls many times a week on my cellphone. This hasn't happened to me until I filled out an online application with these people. They sell names, email address and phone numbers, I'm sure of it.

I applied and prequalification approved. I get a letter stating that I am conditionally approve after I sent them dozens of documents and requested to send again. I immediately had to expend $375 for an inspection report that didn't need to be done right out of the gate. The appraisal I understand. Then I find out my loan goes to underwriting and it is denied because I do not have $3,700 in reserves prior to closing (afterwards no big deal). I was lied to, mislead and told to pay more money above my closing costs, which were verified.

I am demanding return of my $375 for the inspection report or filing a small claims action against QL. DO NOT USE THEM! They are crooks and incompetent and do not keep their promises. It's an assembly line broker firm. They will sell your loan right after closing and charge high fees. Most people who work there have no clue especially when it came to the Florida Down Payment Assistance Program. Who doesn't know about this. IDIOTS!!!

With 3 accounts totaling 35% more than the mortgage amount I applied for, a credit rating over 800, and a 37% down payment, Quicken Loans is refusing to release my mortgage. They are presently requesting a copy of my credit card statement to see that I can afford to make a monthly payment on a charge they required me to incur to fix an issue, as well as seeing a copy of the check I wrote for the down payment on that project.

The credit card company tells me it can take up to 10 days for that charge to be posted on my account, which if Quicken sticks to their plan could delay my closing, which has already been delayed by 20 days as of this writing. My mortgage payment will be 20% of my monthly salary. I've now had 4 loan officers – one of who contacted me one day and on the following day sends out an email that he's out on vacation for the next 10 days. With such excellent financial positioning one would think they would be bending over backward to see this mortgage processed.

Started my loan process in October. Seemed very friendly and helpful. Jumped through hoop after hoop trying to do whatever I could. After spending 20-25k jumping through hoops after 8 months finally gave up. You can not satisfy these people. Don't even bother. They lead you on and on then keep coming up with one more thing. Just one more thing. Then they have to run your credit again. Was ready to close in January inside the 45-day credit report time frame. So let's run it two more times to drop it below the minimum. Overall very unfavorable experience. Run away if you are thinking about these people. Thanks.

Was considering a home refi and spent time conversing with Justin ** of Quicken Loans, asking a lot of questions and getting many straightforward answers. No hesitations or back peddling. I was out of town when we first connected, but we spoke a couple of times and I told him everything he was sharing with me sounded very promising but I had to discuss the details with my husband, and I wanted to check a few other things out before committing once I was back home. He followed up a couple times via text, not annoyingly, but promptly, and kept all his scheduled call appointments with me. I did my due diligence when I arrived back in town and started crunching the numbers of my current mortgage and some other obligations, and found that the savings were not going to be that profound through by refinancing - some savings, but not significant.

I shared with Justin on our next scheduled call exactly what I was discovering once I did the math sharing different scenarios as well. All saved some money for me, but when considered against time and effort that the rest of the process would be needed on my end, and the remaining years on my current loan, Justin honestly said going with Quicken for a refi was probably not in my best interest. He did not try to high pressure me into anything and was very polite and understanding when we both realized I would not be moving forward with the loan. If I do ever need a home loan in the future, I will be calling Justin ** at Quicken Loans without any hesitation. He says he plans to be there for years to come, so if you want a GREAT contact and overall nice guy from Quicken, ask for Justin **.

This company has achieved their success thru slick marketing and cherry picking applicants. Do not even have the courtesy to tell you when your application for credit has been denied. Their so called chief loan officer, let's call him Derek professes to "know everything about loans". However not about Harp rules as it quite a common knowledge bit of knowledge about the 80% LTV HARP rule, he has not heard of this. Most of these eCompanies are about marketing and sales but not knowledge or respect.

Quicken Loans is a worst lender you can possibly work with. I was a 1st time home buyer when I applied for a loan and had great credit history. They put me through hell! Not only they didn't make me aware of all programs available for me as a 1st time home buyer, they kept increasing "estimated cash to close" every few days. Finally, they used the appraiser who appraised my condo so low I couldn't afford buying it. Luckily, real estate agent referred to local lender who turned things around for me and I was able to close for the condo. Stay away from them!

I don't usually write reviews, but I wanted to warn everyone about Quicken Loans. I put in some information online for mortgage rates and was contacted immediately by Quicken Loans. They were persistent and slick talking. They said I only qualified for an FHA loan, with no explanation. After some reluctance, I gave them my credit card number to order an appraisal (We really needed this refinance to pay off some debts and lower our payments). A day or so later, I received some loan documents via e-mail and realized both the interest rate and fees were much higher than previously stated. Then I started reading reviews about them and found out this is an on-going theme with Quicken. I immediately called them and asked them to cancel the appraisal and to give me a refund.

At first, they told me that the amount I had paid was a non-refundable deposit and they could not give my money back. I told them that was not acceptable. My husband and I are retired and on a fixed income, so we really needed that money back. Around that time, I was contacted by another lender, who also explained to me that he has had a lot of customers that had similar experiences with Quicken, and told me what I needed to do to get my money back (talk to a manager and threaten to file complaints as a last resort). After 3-4 weeks, I finally got my appraisal money back. Luckily for me, my new lender paid for my appraisal themselves and their loan was ready to close without having to wait for Quicken's refund.

The new lender explained everything to me, answered any questions I had, and was very patient and knowledgeable. I ended up with loan at a great interest rate, paying off all of the debts I needed, very low closing costs, and a low monthly payment. My advice: Stay away from Quicken Loans, there are much better mortgage companies out there. In case anyone wants to know, the company I refinanced with was First Integrity in Orange County, CA and my loan officer was Sam ** at ** and **.