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Quicken Loans

Quicken Loans
Overall Satisfaction Rating 3.82/5
  • 5 stars
    552
  • 4 stars
    660
  • 3 stars
    270
  • 2 stars
    50
  • 1 stars
    245
Based on 1,777 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

Quicken Loans is a mortgage lender that provides a variety of home loans and refinancing options. Quicken Loans has an online application process and provides services in all 50 states. It services 99% of the mortgages that you can apply for on its website.

BOTTOM LINE

Quicken Loans is a nationwide online mortgage lender. Fill out a simple online application to view your loan options without affecting your credit score.

PROS

  • View loans without affecting credit
  • Locked interest rate for 90 days
  • Easy online application

CONS

  • Mortgage processing not faster online
  • No in-person services

Top Quicken Loans Reviews We Found

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Rated with 5 stars
Verified Reviewer

Citibank sold my HELOC, with no advanced notice, to a company I was not comfortable with. Initially, I was just going to do a refi on my HELOC, but thanks to Abe **, the Quicken Loans guy I first interacted with, he gave me so much information. Professional, smart, and helpful. I'm very happy.

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Rated with 5 stars
Verified Reviewer

We refinanced a $145,000 remaining on our old mortgage to a VA 30 year refinance with Quicken/Rocket. They communicated crystal clear and came through with what they said they could do. I read a lot of negative reviews but that was not my experience. Overall 5 stars were well earned.

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    Are you this business?

    What is Quicken Loans?

    Quicken Loans offers mortgage loans, home refinance loans and personal loans, including:

    • Adjustable-rate loans
    • Fixed-rate loans
    • FHA loans
    • VA loans
    • USDA loans
    • Jumbo loans

    You can apply for a mortgage and make payments on your existing loans through the Quicken Loans Rocket Mortgage app. The company also offers reverse mortgages and refinancing services. Customers who want to lower their mortgage payments, get cash from their home, purchase their first home or invest in real estate can find helpful services from Quicken Loans.

    Quicken Loans has a general credit score requirement of 620, but people with credit scores as low as 580 might be able to find loan options through the site. However, a firm credit score requirement exists for these three loan types:

    • Conventional loans: 620
    • VA loans: 620
    • USDA loans: 640

    Quicken Loans services

    Quicken Loans’ refinancing options include equity cash-out, refinancing at a lower interest rate or shortening your mortgage term. You can also refinance an investment property with Quicken Loans.

    You can choose a custom term with a fixed rate that fits your needs with Quicken Loans’ “YOURgage” feature. Quicken Loans’ mortgages include adjustable and fixed-rate loans.

    Apply online for Quicken Loans’ personal loans through its Rocket Loans division to receive preapproved offers within seconds of entering your financial information. The money is transferred to your account once you choose and finalize a loan.

    Quicken Loans FAQ

    What does your credit score need to be for Quicken Loans?
    Quicken Loans might be able to find loan solutions for customers with credit scores as low as 580.
    Does Quicken Loans do personal loans?
    Quicken Loans offers personal loans for vehicle purchases, medical bills, small businesses, home improvement, debt consolidation and other reasons.
    What kind of loans does Quicken Loans offer?
    Quicken Loans offers mortgages, reverse mortgages, refinancing, home loans and personal loans. Most types of mortgages are available through Quicken Loans, and it offers a customizable term option.
    How much does Quicken Loans charge for closing costs?
    Quicken Loans’ closing costs depend on the loan type, purchase amount and tax laws in your area. Expect to pay 3% to 6% of the purchase price.

    Is Quicken Loans good?

    Quicken Loans offers a completely online loan application process, which is convenient for consumers who don’t have time to visit a bank or financial institution. Quicken Loans has many loan options and is a viable choice for those searching specifically for an online lending service.

    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?
    • 2,472,940 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 - 10
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 22, 2020

    Rocket Mortgage was very easy to start and very informative with the answers I had every time I called with questions. East to set up and easy to send documents. The employees were very nice adorn the bankers to the writing team and everyone in between. I would highly recommend Rocket Mortgage to any one who is wanting to refinance their home. The only issue I had was when they came to close on the house they were 3 hours late in getting to my home. But they kept me informed on when they got here. All and all a wonderful experience. Thank you all once again for a job well done.

    Be the first one to find this review helpful
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: July 31, 2020

    I read some terrible reviews for Quicken Loans however in my research I found that they were still offering the best deal and price and the way to submit documents online was the most simple I had come across. I was wary and I checked every line and if there was a mistake they fixed it. The communication was always there.

    I ran into a hiccup with a divorce right in the middle of the deal just before closing and had to put my entire account on hold which they did with much patience and when it was time to begin again a little over a year later, I did not have to resubmit appraisals or inspections or give any additional money. They were able to pull my information from my last attempt at the loan and I only had to update current financials. The process was moving along quickly and I did not ever have a problem getting a hold of someone or getting an answer through email or text or phone call, they always called to check up on me but were also very respectful when I said to not call me for a certain amount of time or days and they kept their appointments.

    One time they were late getting to an appointment due to working with someone else overtime so he had his friend from the company call me to tell me that he was going to be late to the phone call just so I would know what was going on. I thought that was above and beyond so thank you Mike. I have not even finished the entire process or have gone to closing on my refinance but I did read the reviews and I am a real person going through a real process and I wanted to give my 2 cents because some people said that all the 5 star reviews were fake. I can assure you I am not a fake person and I have much drama that Quicken Loans has had to deal with and they have done so very professionally.

    13 people found this review helpful

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      Rated with 4 stars
      Verified Reviewer
      Original review: March 13, 2020

      Quicken Loans feels disciplined in exercising principled procedures by making honest assessments about the realities of mortgage qualification. There is no hype or false hopes in the decision process. An education in mortgage financing happens easily by the association and experience of working together to achieve the end goal: a personalized manageable mortgage loan that will survive the ups and downs of life without causing hardship or loss of a major investment. My experience with Quicken Loans taught me much more than I realized I needed to know. It's a complicated ordeal of which I knew nothing. I most appreciate the process of buying my first home as now it is less intimidating. I think I could do it again with much less stress and I won't need to ask so many "stupid questions"!

      12 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: March 2, 2020

      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.

      If the company needed something from me, I received an email requesting that I go to the dashboard. When it was time to close the loan the company sent an attorney to my home that was able to walk me through the documents as well as notarize my signature. The money was transferred to my account when the documents were filed. I would recommend this company. The customer service was good and efficient. The online process worked well. The one downside that I don't like is the sales after the process. I don't like getting the phone calls trying to get me to refinance my loan at every rate change. To me that is the company looking to have me spend money on closing a loan that I don't need.

      23 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Dec. 27, 2019

      Citibank sold my HELOC, with no advanced notice, to a company I was not comfortable with, one that had poor ratings. I have excellent credit and did not want my credit reputation harmed. Initially, I was just going to do a refi on my HELOC, but thanks to Abe **, the Quicken Loans guy I first interacted with, he gave me so much information resulting in a refi of my mortgage and HELOC with a fixed lower rate. Wowsa!

      Being self-employed, the online documentation verification was a PITA, but I have a scanner and responded immediately to each text/email request for further documentation. In less than 30 days, I'm going to sign the papers for closing in 2 days from now. My advice to all is to ask for Abe **, Senior Banker, when you first contact them. Professional, smart, and helpful. I'm very happy. One thing about Quicken Loans, you never have to worry about them selling your loan, like those other fly-by-night companies. I feel safe now and secure for my future.

      21 people found this review helpful
      Rated with 2 stars
      Verified Reviewer Verified Buyer
      Original review: Oct. 23, 2020

      My only response for a review is that we were told it would take 3-5 weeks to close and it ended up taking 12.5 weeks. We had no explanation. We just kept having to supply pay stubs because they have to be within 30 days and it kept exceeding those 30 days. We put an offer in and closed on a whole other investment property during this time frame.

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      Rated with 5 stars
      Verified Reviewer Verified Buyer
      Original review: Oct. 23, 2020

      Extremely fast. Everyone seemed like they knew what they were doing. As a first time refi, I didn't know what to expect. Now I do and they have earned my business for the future. I will let anyone who needs a refi or home purchase to use Quicken.

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      Rated with 4 stars
      Verified Reviewer Verified Buyer
      Original review: Oct. 23, 2020

      Overall, Alan was super knowledgeable and thoughtful. He was polite, professional and engaged. The biggest frustration with the process, was it took 5 months and we were told 2 months, etc. Overall, more communication around the timelines modifications would have been appreciated.

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      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Oct. 22, 2020

      They will promise you everything and then don’t close on time. Rude people can’t find your documents. You will spend hours trying to call only to be told someone will call you back before the end of the next day. They cannot read documents correctly. They are the worst for VA loans. Go with someone else!

      4 people found this review helpful
      Rated with 5 stars
      Verified Reviewer Verified Buyer
      Original review: Oct. 22, 2020

      This was a great experience. Everything went smoothly and quickly and the entire process was concluded in a much shorter period of time than we originally anticipated. We would recommend Quicken to anyone looking to refinance or change their mortgage structure.

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      Quicken Loans Company Information

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