Quicken Loans

When I was looking for a refinance on my current mortgage it was important to me to find a company that I could work with exclusively online. I wanted to be able to upload my documents and have a process where I could check in daily to see when the mortgage would be ready to close. I did the initial request online and a broker called me right away. I went through the initial approval over the phone. I then set up an online account that provided a dashboard to list all the needed documents. I knew exactly what the company needed and when it was received and approved by logging in to the dashboard. I was able to communicate with a customer service representative through the dashboard as well. It still took 30-45 days to close the loan but I knew where I stood at step of the process.

I had a good experience with Rocket Mortgage. I chose Rocket Mortgage for my first house. I started the process on 8/6, and was cleared to close by 9/16. The actual closing happened on 9/23 to find a time suitable for all three attorneys to meet. My main reason for leaving a review is if you're like me, and never checked the reviews on this site until you gave the $500 good faith deposit to the lender. I was scared out of my mind after reading all the reviews but shortly after got the cleared to close. I would say that if you have a regular W2 job, no big credit debt, no lapses in employment history, you'll probably be fine. Quick summary of how your loan will work:

We close on our loan with Quicken Loans back in August of 2014. We had to jump through a bunch of Hoops like everyone is saying but I would have rather have jump through the Hoops that we did than to be denied the loan like many other places did. The reason you're jumping through the Hoops is because you aren't great candidate for the loan that's why other places are possibly denying is alone but Quicken Loans goes out on a limb and allows you to work through those who plays like we had a judgment that was holding us back but they allowed us to just get approval of satisfaction instead of actually having to wait through it to go through court and being documented through courts as long as we have the satisfaction note from the attorney our loan was approved. It was a pain getting it but it was all worth it.

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.

It is just a stressful time buying a new house but Quicken did everything they could on their part to make it seamless. The rate quote was easy and quick. Helpful and friendly guy helped me during the initial stages and amount of paperwork to fill out was reasonable. All the information was given to me up front so there were no surprises on the cost or rate when we officially closed.

I have refinanced my properties many times over the years and I have to say that Quicken Loans was by far, the worst experience I had. I'm on day 85 of my ReFi application, no financial issues, excellent credit and equity. I'm applying for a lower rate on a conventional loan. I had to resubmit my documents 3 times, verify my employment twice, etc. because their process is taking so long, so all documents were expired.

The online self-service was pretty good & user friendly, but when I tried to reach them, by phone, chat, or email, the response was poor; 70 hours later and still waiting somebody reach me to offer some guidance to my inquiries.

Quicken Loans is not quick at processing claims and use the Covid 19 excuse that it takes 20-30 days to process a check from our insurance company. At the same time, the damage is not taken care of at our house. I would hate to see what it would take if I had a severe claim or loss of residency. It could take them months, if not years, to process the claims. I would not recommend them as a mortgage provider and will be seeking a new company for my mortgage company.

To be brief, Quicken drug me through the mud for 3-months on a refinance only to deny me. I spent $500 for an appraisal could not be written in the manner they provided them with every document requested and then some. I was finally told everything was fine except they could not accept the Flood policy provided by the insurance company because the policy did not contain 2-items in the format they would accept. The insurance company informed Quicken a policy for the type of building (60-floors) I resided, the policy could not be written to their specification even though this was a 5-star insurance company. And because of this Quicken said there was nothing else they could do for me: REFINANCE DENIED!

I have a wonderful credit score of 808. When I applied for home mortgage, my lender representative used to answer my requests and calls frequently. Once, he pushed me to sign the Mortgage agreement, he stopped responding to my messages and emails. I was misled in many ways, he proposed a low interest rate with closing cost of about 6% of the total loan. Most of them for purchasing discount points. Everyone told me that this is a rip off, with my financial credit, the closing cost should not exceed 3% of the total loan. I tried to cancel my loan application but they never responded. Be aware, don't be fooled by low down payment and low interest rate, Always ask about closing cost. They are not working for you. They are working to maximize their profit. Never let them push you to sign documents, always take your time. If you can get financed thru your local bank, It is 100% better than dealing with those guys.