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This is my third mortgage loan/refinance with Quicken Loans/Rocket Mortgage. My first contact was little less than amazing. I requested a rate quote from one of your online ads, and in a few minutes my phone rang. I was being contacted by an enthusiastic agent. Within a couple of weeks, I was signing up for a re-fi for my house in Kansas City. Subsequently, my company transferred me to Illinois and when we were ready to purchase a new home, I again contacted Quicken/Rocket in order to set up a new mortgage. As the first two went off without a hitch, when I considered a re-fi and lower my term, I cannot say that it was without some issues. The processes have changed a bit in just over a year. More layers of staff have been added in order to carry the workload (due to the amazing growth of the company I am sure).
There were a few important details that got shuffled and a few balls were dropped during the re-fi process. I sometimes felt that the right hand was not aware of what the left hand was doing. Once these glitches were pointed out however, I was quickly contacted by Laura **. I cannot say enough about how she assisted the getting the process back on track. Laura was interracial in my decision to remain with the re-fi process through your company and not utilize a local banker friend who originally contacted me and was in the process of handling my re-fi before one of your agents offered to match their offer. After researching my loan, Laura put me in touch with Brandon **. Brandon also was true to the company’s word and the customer’s expectations. He negotiated an outcome that was suitable for both and we closed on the new loan. Well done by Both!!
The original founder of the company I work for has been quoted many times, "The three most important things in running a successful business are 'People, People, People'." Well, with all of this being said, these two people… exemplify the best of the best! After a short period of questioning the new processes and wondering if your company would retain my business going forward, I am back to being a believer in your business model!!!
Obtained a VA Jumbo mortgage for $575,000 at 3.5%. We put about 100k into the transaction as a downpayment and closing costs and prepaid some interest for a quarter-point reduction in our rate. Application to pre-approval took one day. Conditional final approval took about another 10 days. Satisfied all requirements about 25 days before our closing and just waited. VA appraisal was done on time and was fair market value for our property. The only curveball was a requirement for a termite inspection, but we were given three weeks notice, and it was a requirement for our state, so I put the blame more on the realtor than Quicken. Closed on time, on the day originally promised with zero issues. The only problem with closing was after Quicken forgot to get a document to our title agent for us to sign, and asked us to sign and send it back to them, it took a total of ten extra minutes.
We have had zero issues with the servicing of our mortgage; everything is clearly laid out in our monthly statements including the impact of our additional principal payments. We had a unique situation where we are property tax exempt but had to pay taxes into escrow at closing. Quicken did an escrow review the same day and refunded our money in 7 business days. We were warned about Quicken possibly being an issue, however from our perspective as long as you give them what they ask when they ask we had no issues. Brad was awesome, so was Mel.
I have always been a America First snob. In the beginning of wanting to refinance my home I contacted AFCU. They stated I, alone, myself would not qualify nor could I use my part time job income (because most part time jobs don’t last). My fiancé told me some of his customers had raves about Quicken Loans. I contacted them and hesitated, so I hung up. I got a text from Brittney. (I’m all about texting if possible.) She was so helpful and text me very clear answers on everything I had. The Rocket Mortgage app is awesome. I submitted all my documentation she needed AND my part time job pay stubs (Along with my full time job also of course). :) She gave me multiple options and the payment was perfect.
I was able to pay off all of my loans and be debt free. I read on the reviews after I had started the process that people weren’t happy and were passed on to other people, having to provide all the documentation over and over again. This did not happen to me. Everything was forwarded on to the next person. When it came time to close, they send someone (a notary) to my home!!! I picked the time and they were here with my paperwork. AMAZING!!! I was finished with the whole process, with no lies, no pressure within 2 1/2 weeks tops. I would highly recommend this company to anyone planning to refi their home. Thank you Quicken Loans/Rocket Mortgage for everything!!!
Before I give my review, I have to make a disclaimer. I recently closed on my house (4/16/19), but while I was going through this process, I stayed on these review sites looking at user reviews. There was so much negativity concerning QL, that I was scared to death. I thought about leaving and was regretting my choice of Loan Company. I was waiting for the call that I have been denied, since a lot of reviews talk about last minute denials. I was stressed. I say that to say this: YOUR experience and situation is unique to you. Yes, it is nice to try and gain knowledge, but don’t be discouraged by what you read on these sites. I experienced hardly anything that I read from past reviewers. Every situation is different so what you read may not fit you. Please keep that in mind.
With that said, my experience was easy and fast. From the time I applied online, I got a call from Brandon and right there, he was in my corner. He was not pushy or did I feel like a number. Of course his job to get paid; what’s wrong with that? However, he was not overbearing or anything. He explained to me the process and from there, it was just a matter of getting pre-qualified. That took all of five minutes.
From there, it was just the normal procedure of pre-approval, getting paperwork, underwriting, etc. Yes, they ask for a lot of paperwork and there were times when I questioned why you needed that. But I gave them what they wanted IN A TIMELY MANNER. When I got my disclosures, Brandon explained to me line by line what each one meant. He explained fees, points, choices of interest rates, everything. Again, I had did research so I wanted to see if what he said matched up to what I learned. It did. At no time I felt I was being taken advantage of.
This company believes in communication, sometimes to a fault, but that is ok. My questions were answered swiftly and accurately. When I had a concern, they were there. At no time I felt alone and that was important to me a first time home buyer. When I ask a question and we finished talking, they always said “you are welcome”. This triggered an email stating that you have a message. That part was a bit too nice because you think there is something important in your account, but again, that is my thing. Too much is better than not enough.
When it came time to close, I have my closing docs a week before closing. This allowed me to schedule a time with my lawyer that worked best for both of us. We signed three days early and come that Tuesday, QL had funded the loan before I even had my keys to the house and was registered in Deeds. QL was awesome. Again, this is my experience. My experience was stressful, but looking back, it was super smooth. Everyone was friendly and knowledgeable. I am a fan of QL and will sing their praises everywhere I go. Thank you QL!
I like doing business with them. Just from the start of processing they help me a lot from getting information and during start of the loan they assist me to get loan from the bank and for the mortgage that I can afford to pay that it will not going to break my leg to pay the monthly mortgage. That it will just get into my wallet that I still able to live my life. They will keep me posted every updated that they have with the load that I am doing with them until I finally gotten and paid my mortgage.
They have all the expert that will going to help you doing the process until to the last payment to make more worth payable to the client and that will not going to hold back to the expenses. They keep doing the follow - up to make more correspond to the business and give the property to make it worth to have. It is clear and be more worth using them.
They make sure that I will be happy working with them and give their best to give me the information that I needed with the property that I am working with them to make it clear and that I will not going to have any problem in the future regarding with the property. It was excellent and makes me more reliable and good experience doing business to them. It makes me more going to use this business for the future. They will going to make great process and program to make things work in both sides to make the payment more easier and not so much hard for both parties.
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Seth a really good salesman, let's you know the program. He says, "Oh yes these numbers work. Send us the required info thru our easy to use web site." It was easy to use thank goodness, because you will have to submit it several times. I'm told I qualified for a loan by him and his boss. Give us $500 good faith deposit, it will be deducted on final loan paperwork. A couple weeks later I suddenly don't qualify, I can get a loan with a higher interest rate and less than half of the cash out money back. I don't plan on using them now or in the future.
First loan was ok, process went well, streamlined and smooth. They call me to "save me money" three and a half years later. I say sure. Why not? Let's proceed. I work with the guy and he says he has to call me back the next day. I specifically give him the parameters of the loan and years I would agree to and the time to talk again. I get a call from a coworker saying he's unavailable to meet and want to reschedule. So basically my time is not valuable and only one person in the entire company can handle the details of a loan.
I'm in the customer service biz. If I'm out I have coworkers handle my important to-do tasks if I'm out of the office. I tell her I no longer wish to be contacted and I will be working with another creditor to get away from Quicken Loans and hang up. They proceed to call my desk phone and cell phone repeatedly. So I no longer want their business and they proceed to harassment. No obviously doesn't always mean no. Steer clear of this company.
After reading decent reviews for Quicken Loans, my wife and I felt comfortable giving Quicken Loans a try. I filled out the information form online, then proceeded to get blasted with phone calls from them. I received (no exaggeration) 11 phone calls from Quicken Loans over a period of four days. I finally answered on the fourth day, asking if they could call back when I was not at work. However, they transferred me to a pushy loan officer named Connor, who promised it would only take a couple of minutes. I told him I did not have the time and that my wife was home sick, so could we reschedule. Instead, he called that evening, during dinner time, and began telling me that my current FHA loan was crap and that he could help me. He spent 30 minutes trying to push me into a loan with high out of pocket costs, despite not being able to beat or match my current interest rate.
At that point he said he needed to dig around more and would call the next night. He called the next night, at an inconvenient time but promising it would only be a few minutes. The call again lasted 30 minutes, with him trying to push me into a loan that would require substantial out of pocket costs - for a refinance! In the meantime, Connor emailed me a link to look at his personal reviews, as if that would change our minds. This company does not appear to have the customer's best interest in mind, but rather willing to do whatever is necessary to make a quick buck. A quick call to our current mortgage company has us on the road to a much better situation, with ZERO out of pocket costs and little to no time on the phone!
You have to agree to be harassed!! I have been looking online at homes for sale in my area and when I found one I wanted to see the agent told me I had to get pre-approved first before he would show it to me. He recommended I go to my bank. I had no idea that my bank, Woodforest National Bank, is partnered with Quicken. I was given the phone to start the pre-approval process. Mr. Quicken didn't listen very carefully to what I told him and he pushed repeatedly for me to provide my phone number. I explained that I wanted to communicate by text and email only but they have somehow gotten my number. I received a call today and the man was calling from Michigan and I am in Texas. I hung up while he was still giving me his spiel.
It makes me uneasy giving personal information to strangers. I want to deal with my lender in person. As for paying attention to what you tell them initially, they fail. What you say is not communicated accurately to the next person you have to deal with. That starts the craziness. I'm going to stop house hunting for now and hopefully they will forget about me. I'm also going to look for a local lender.
I have had a mortgage with Quicken for quite a few years and even refinanced once. All went well and I liked the fact that they called me once in awhile to see if I had questions or needed a change. A few weeks ago, they called and suggested that I do a refi and adjust my loan to save money. It sounded good, but I have a lot on my plate right now and not a lot of time. I was assured that it was a matter of paperwork and I wouldn’t even need an appraisal. I sent in the documents requested and I was approved right away, saving $200 a month. If only it were that easy! They wanted documents that didn’t exist, they then said my debt ratio was too high and that they’d have to pay off a card in the loan. Then oops, no my debt ratio wasn’t too high, I was all set.
Until, now they couldn’t waive the appraisal. Why? They’d appraised my home twice in the past few years and I wasn’t asking for a bigger loan, just a different rate. But, it is in the “system” because the loan had changed from paying off a credit card to not paying it off (seems like my good debt ratio should have made an appraisal less necessary). Long story short, I have to be away and told them to keep their loan. Seems like Quicken has gotten way too big and way hung up on “system” rather than customers. PS Not dissing the mortgage banker who tried to assist. Jasmine was very nice.
Quicken Loans expert review by Michele Lerner
Quicken Loans is an online mortgage lending company. Founded as Rock Financial in 1985, Quicken changed course in the 1990s to focus on online lending and has since become a leading mortgage lender.
Refinance information: Quicken’s website has a host of information for consumers looking to refinance their mortgages. A list of frequently asked questions, a direct line to a home loan expert, a list of required documents for refinancing and numerous other bits of advice are all located easily on the front page.
Zing blog: Quicken’s featured Zing blog contains relevant articles not only about home ownership and mortgage refinancing but also about lifestyle topics like gardening and technology. Quicken regularly updates this blog to keep information current and topics varied.
Online calculators: Whether a consumer wants to refinance their home loan, is looking for a new home or wants to see the impact of making additional payments on their existing loan, Quicken offers free online tools to calculate estimated savings and expenses. The online mortgage, refinancing and amortization calculators are easy to use and provide instant financial estimates.
Mortgage comparisons: Quicken provides a loan comparison chart, so consumers can see the various loans Quicken offers at a glance. The chart has brief descriptions of the loans with links to more information and application pages for each loan.
Best for: Quicken is best for consumers looking for instant information about mortgage refinancing.
Quicken Loans Company Information
- Company Name:
- Quicken Loans
- United States