Quicken Loans
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Quicken Loans

 4.1/5 (1653 ratings)
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Quicken Loans

About Quicken Loans

Quicken Loans is a mortgage lender that provides a variety of home loans and refinancing options through Rocket Mortgage, its online mortgage platform. The company is licensed in all 50 states and is one of the largest mortgage lenders in the country.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Available nationwide
  • Multiple mortgage options
  • Easy online application

Cons

  • No USDA loans
  • No in-person services

Bottom Line

Quicken Loans offers a streamlined online application for home loans and refinancing. Those who want to purchase a home, lower their mortgage payments or get cash out of their home might find its services helpful.

Top Quicken Loans Reviews

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Rated with 5 stars
Verified

We had an excellent experience with Quicken Loan - from the initial contact with the mortgage broker to our closing. Very responsive, knowledgeable and professional. The whole tra...

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Rated with 4 stars
Verified

The overall loan experience was great. My only issue was the amount of documentation required for the loan that I had never had to provide for previous loans with Quicken. At time...

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What is Quicken Loans?

Quicken Loans is a nationwide mortgage lender. The company offers mortgage loans and home refinance loans, giving customers the ability to complete the process entirely online. Those who would rather apply over the phone can speak with a company Home Loan Expert. Quicken Loans services 99% of its loans, so borrowers work with the company from the time of their application till they pay off the loan.

Quicken Loans services

Quicken Loans specializes in mortgages and refinancing services. When you apply for a home loan or refinancing — whether it’s online or over the phone — Quicken Loans shows you loan options along with rates and costs. Customers can choose when and where to close on a loan. Loan types include the following:

  • 30-year fixed loans
  • 15-year fixed loans
  • Adjustable-rate loans
  • FHA loans
  • VA loans
  • Jumbo loans
  • YOURgage fixed-rate, custom-term loans
  • Refinancing for cash, lower payment or shorter term

Quicken Loans FAQ

What does your credit score need to be for Quicken Loans?
Quicken Loans has a general minimum FICO Score requirement of 580. The lender requires a minimum FICO Score of 620 for conventional loans and VA loans.
Does Quicken Loans do personal loans?
Rocket Loans, which is related to Quicken Loans, offers personal loans for vehicle purchases, home improvement, debt consolidation, traveling and just about any other purpose. Apply online to find out what offers you qualify for without any effect on your credit score. Funds are available as soon as the same business day.
What kind of loans does Quicken Loans offer?
Quicken Loans offers mortgages, reverse mortgages, refinancing and personal loans. You can get most types of mortgages through Quicken Loans, including a custom-term, fixed-rate loan lasting from eight to 29 years.
How much does Quicken Loans charge for closing costs?
Quicken Loans’ closing costs depend on the loan type, the type of home you’re buying, where your home is located and other factors. Expect to pay 3% to 6% of the purchase price.
Where is Quicken Loans located?
Quicken Loans’ headquarters is in Detroit.

Is Quicken Loans good?

Quicken Loans is one of the most widely available online lenders. Through Rocket Mortgage, it offers a completely online loan application process, which is convenient for those who don’t have time to visit a bank or financial institution. We think it’s worth considering for most types of purchase and refinancing loans. Keep in mind the company doesn’t offer USDA loans, though.

Quicken Loans Reviews

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How do I know I can trust these reviews about Quicken Loans?
How do I know I can trust these reviews about Quicken Loans?
  • 3,772,050 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Nov. 30, 2021

Adam was fantastic in closing the loan. He answered all of my questions and made me feel good about the process. I have never had such a wow factor in closing on any loan and you all put all the others to shame. You’ve left them in the dust. You were the first ones contacting me almost immediately after my online submission, had the best rates, best customer service, and the name of Quicken to back up your resources. My last mortgage was sold out underneath me and I just don’t see that ever happening with Quicken based RocketMortgage. I have relayed your superior overall service to many friends already and if anyone ever asks me about it, I know where to send them. The app is great as well and I love how I can setup biweekly payments as well as one time payments on the principal. Thank you all for an excellent experience!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 30, 2021

    Rocket Mortgage was absolutely great! From the application process to the closing. The time it took to get the loan closed was very short! One thing we did not like was not having someone there to answer questions during the closing process at the Title company. We did have a few questions just because this paperwork is foreign to us. The woman at the Title company treated us as if we had used an "off-brand" mortgage company. She didn't necessarily say anything bad about Rocket Mortgage. She just acted like there were things that needed to be pointed out in the contract. This is not anything Rocket Mortgage could control as this is a different entity. But we will know in the future to not use that Title company again. As far as Rocket Mortgage we couldn't be happier! In fact, our previous mortgage company was not interested in doing the cash-out refinance. So we give Rocket Mortgage 5 stars! Thank y'all for helping us become debt-free!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 28, 2021

    Constance **, Bryana **, Paul ** are some phenomenal people. Scale 1-10 all three would be a 12. They exemplified patience, care, understanding and willpower. Now they need to share their character, understanding and respect with Richard **. I cannot say enough. Constance, Bryana and Paul their communication was always prompt, they returned voice mail message I left in a timely manner. I truly felt like they wanted it as much as I did. This day in time that's unusual. I worked in corporate for 10 years during the mortgage crisis, and if I had a team compromised of a Constance, Bryana and Paul I probably would still be there. I would like to thank all those behind the scenes I never spoke with that assisted in me purchasing my home. Thank you, thank you and may God bless all of you and forever open doors for each one of you.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: July 14, 2021

    Responding to the requests for supporting documents seemed neverending. A list of what was needed should have been known upfront, but I was constantly receiving a request for additional documents. For example, I was asked to provide insurance coverage for a small lake home worth about 250k. Why I would need to document that is unknown to me as it has no bearing on my ability to refinance a note. This is all the more surprising because I'd been paying off a much higher loan for about 18 years and even prepaying much of it so my ability to pay should have been evident.

    I realize that there are a lot of hoops you have to jump through, but if those hoops are present, then they are known and I could have been given the entire list of documents needed from the first. In all it took over a month to get everything ready and I have a good credit rating and backup documents. I can only imagine how long it would be for someone with moderate or poor rating. All of this would argue against the advertised claim that applying for the loan is quick and easy. Otherwise, the people were all great. They simply have to work around the policies.

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 8, 2021

    I had a wonderful team. It started with Rami, who took my application over the phone when I called after 8pm. I was immediately approved to match what my employer only would approve me for. Then he asked a profound question, "is that all you want"? I was dumbfounded, because my employer made it seem like I didn't qualify for more. Rami asked me to send in income info and had it reviewed by an Underwriter. In 24 hours, I was approved for $40k more....MIND BLOWN....

    Once my offer was accepted, which was on a Saturday, I called Rami. He not only answered the phone on a Saturday, but he had my fully signed contract and on Sunday called me to go over all my closing costs, payment, intetest....the full term of the loan. The music to my ears was he was also able to give me a closing date.

    Soon after that, maybe on Monday, I received a call from Alicia **. She introduced herself, provided me with all her contact information and told me she would be my point of contact until the loan was ready to close. So that I wouldn't be blindsided, I asked if there was a time frame that I had, to ensure my loan closed by the date I was given which was June 21st. I was informed that as long as I had all the Underwriter conditions in by June 16th, that closing date would stand.

    Alicia was sooooo awesome. She took me by the hand and held it as long as I needed her to. I had, what seemed to be a billion questions and she was gracious enough to answer what she knew on the spot, then called me back for things she wasn't able to answer immediately. There were times that I called and she was out of the office but her team would call me back right away to service me in her absence. That was a wonderful touch. Your teamwork is impeccable.

    There was a changing of staff during my process, but it was seamless. My new Loan Officer contact was now Jacob and he was very instrumental in helping me understand all my numbers on my closing disclosure. Then my file was transferred to the closing team and they got all the final numbers together for me. They went over everything with me to make sure I had a clear understanding of the numbers and how much money I needed to bring to my closing. The entire process was painless. I appreciate Quicken living up to their name. I will share my story and recommend Quicken/Rocket to everyone and anyone who will listen. Thank you for helping to make my borrowing/buying process such a wonderful experience. I'm loving my new home.

    Sincerely,

    Lisa **

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 23, 2022

    Christine and Brooke were excellent explaining the process from beginning to end. The online tasks were simple to navigate and expedited receiving and analyzing the required documents. Completing the closing in my home was an additional convenience that was greatly appreciated.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 20, 2022

    My mortgage Team Consisted of Eric **, Nannette **, and Brittney. My Team kept me well informed and provided me with the much-needed support through this gruelling time. One of my co-workers will be in the market for a home soon and I will refer him to my excellent Team.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 19, 2022

    The loan officers were very helpful, they made every step easy, they found solutions when there were problems, they kept all my information confidential, it was easy process and quick. They met my needs in every way and I will recommend it to a friend or anyone ask.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 19, 2022

    I have a very good and simple process from the beginning and end of the loan process. I would recommend anyone to use Rocket mortgage for a loan. The online portal was very useful for giving update and what is needed to complete the process.

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    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: May 16, 2022

    I started my loan process toward securing a VA loan. I was waiting for a a month and a couple weeks, then I was told that the VA needed to acquire my retirement points to verify my veteran status. If I knew this is what my loan was on hold for, I could have contacted the VA office right away and got this cleared up. For whatever reason, it took the underwriting department a long time to verify my employment status, even after I uploaded a couple years of my W2 forms from both of my jobs, and they had my Social Security number to further verify my employment status.

    My loan completion date was extended, because I wasn't made aware that they were waiting for my VA status to be approved. The push back for my mortgage is common for mortgage companies, but this caused my interest rate to go up. Then, the securing of a closing lawyer being made aware to me and the lawyer needing three days to get their end prepared for me to go to their office to sign the paperwork wasn't made aware to me.

    My loan missed the second closing date. For whatever reason, the locked in interest rate jumped up 5/8 points. After making the banker I was working with aware of this, he didn't understand why the locked in interest rate jumped up either. He was nice enough to work on it and was able to get the interest rate down in 1/4 of a point, so my mortgage has an interest rate that is 3/8 of a point higher than my locked in interest rate in the beginning of this process. Although my interest rate is higher than the locked in interest point, at the end, the mortgage is successfully finished.

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    Quicken Loans Company Information

    Company Name:
    Quicken Loans
    Country:
    United States
    Website:
    www.quickenloans.com