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Satisfaction Rating

I started looking for a lender to do a refinance with back in January. When I accepted the offer with Quicken, I was required to put a deposit down in order to cover the upfront costs of the appraisal and processing. This amount would later be deducted from the closing costs and would essentially be reimbursed. After their initial appraiser couldn't make his appointment, they found someone else that could handle the appraisal. This was not the case, as they couldn't complete the appraisal before the rate lock was up. They said they would extend the rate lock for a marginal fee and we could move forward.

After the rate lock was extended, I relieved from quicken saying that they couldn't continue with the loan because the appraisal was questionable. I immediately asked for my deposit back. I was then informed that It was used to cover the expense of the appraisal and that I would not be receiving a refund. When I asked why they paid for an appraisal that wasn't satisfactory and they couldn't use, and why I'm being penalizing for it, they just hung up the phone on me. They will not return my phone calls now. They are running a fraudulent business and they are just ripping people off.

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Okay, to be clear, I am the one who approached Quicken Loans about a re-fi. I went through EVERYTHING and was told that I was approved, then come the questions. About 5 questions in I am asked if there is a trailer, manufactured home, etc. on the property to which I replied, "duh, that's what my HOME is, a manufactured home!" He says, "well, we don't lend on them." Why? It is Quicken Loans policy not to. He tells me he has a picture of it and it doesn't look like it! I have to say, my home is 2,100 square feet, a 3-2, constructed on 2x6 stubs and therefore has beefed up insulation to R-19 in the walls and R-38 in the ceilings. It does not have that thin wallboard that you see in trailers and I will admit, even some manufactured homes; it has 1/2" drywall, and 9' ceilings. I could go on but I won't.

I would be willing to bet that they are lending on homes that are not even close to mine but they're built outside, in the elements and mine was built inside. It seems to me that if you're going to lend on homes, lend on homes; don't say, "well, not on your KIND of home." It sounds like discrimination to me but someone would have to explain it to me, like I'm a 4-year old because I don't understand it.

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The Third party appraisers are incompetent. We were unable to get the loan, due to the appraisal. Same type of homes next door were selling for 30,000 more than he appraised our home for. His comps were ridiculous. Towards the end of the loan process, when it appeared that the loan would not go through, started getting the run around from the loan officers. Would not recommend due to the inaccuracy of Appraisals.

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What a waste of time. Gave them everything they asked for, was told everything looked good, have the assets, income, credit score, reserves, etc. Requested the exact same forms and documents 3 to 4 times. Two days before closing asked that I get my employer of 5 years to disclose their bank statements! Worst mortgage experience ever! I would avoid them at all costs, if anyone is even thinking about using Quicken Loans -- don't bother. Incompetence every step of the way.

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There's a reason that there are so many negative reviews on Quicken Loans. These people are incompetent idiots. They will waste your time and money. I just flushed $500 down the drain. I've dealt with so many different people, and answered so many emails and questions, and wasted so much time on the phone. It's ridiculous. Someone different calls you every day. Every few hours you get emails, telling you there are questions in your 'to do' list on your Quicken account. This is stuff you've already explained to one of the who knows how many people you've already talked to. It's like there's a contest in their office to see who can be the most incompetent jackass, and everyone is in first place. Do not waste your time with these people.

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They said I was approved for a home loan. Congratulations quicken home loans stated to me. They set me up with a realtor. I was very excited, being my first home purchase. I found a home I liked, made an offer, got accepted! Paid the realtor $500 to take the house from the market. I had the house inspected that was $350. Then Quicken Loans states I'm not available for the FHA home loan as I'm very deep and excited to finally be done renting. At this time I've already told my family and everyone I know I'm buying a home and the offer was accepted. Now I'm very embarrassed as I've made promises to people I can keep now. I've never been so embarrassed in my life to be so happy and let down so hard all in one day...???

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After seven refinancing opportunities, I feel like a pro at getting this done. I'm so glad that I quit Quicken Loans. They were trying to rob me and asked for way too much paperwork. I had to print it, then sign it, then scan it, then email it, then print myself a copy. This was hard and I don't see how they can advertise the claim of making things easier. They wanted to charge for taking the solar contract temporarily off and charge for reinstating it. The company that I finally used was way easier, charged a lot, lot less and got the job done in half the time as Quicken Rocket.

Then Quicken bumped the interest rate went up after locking down a rate and I was told by Quicken that it "sometimes happens like that". This was totally unsatisfactory to me and I started shopping for a different company. I had to pay for a new home appraisal and after two appraisals, I still saved time and money by quitting Quicken. I wish I would have never started working with Quicken Rocket and they cost me time and money. I don't know where they get their rating and how they can claim what they do but I have not been able to give them a review and they have not returned my calls.

I feel so sick about Quicken that even after a year... I still get upset, still cannot watch another Quicken commercial about how they are ranked number one in customer service, still felt as if I had no voice about what happened. I'm glad that I found "Consumer Affairs" and finally got to let a little relief. Quicken hires low life con men and women that are unreasonable, get rude and have no people skills.

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Run run run as fast as you can from using this place!!! This place scammed me out of $1500. Quicken Loans tried to tell me $400 was for good faith and I would get it back and the realtor said she needed $1100. Something just didn't seem right! They both had different stories! Every time they contacted me it was about more money they both needed. And they both would call and email all the time! 400 more for a home inspection even though I wasn't even approved yet! And the house I wanted was 107 and don't you know I was pre-approved for 107? Lol. Scam. Please don't give these people a penny!

I'm a single mom of 3. I don't know how these people sleep at night! I'm trying to get my kids a home and they scam me, that's taking food out my kids' mouths!!! I'm glad I went with my gut feeling! And wish I had read these post beforehand! I told them both I felt like I was being scammed and I had to block both of their calls. The calls came in nonstop! I just want to go public with this to the news, the today show or 20/20 Dr Phil something because how are they getting away with this?!? Taking money from hard working people!!! Why don't they approve you first before taking money!

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I started working with Quicken Loans in November 2016. Many times I would call them and never get a return call. Always an excuse as to why they did not call back. I really felt like because we were not credit qualified from the start we were not as important to them. I tried going VA loan and they said after a couple of months they could not do that. So we started working on an FHA loan. They sent me multiple pre approval letters that did not meet the terms discussed and when I asked about them they said they did not know why I got them. We worked with the credit people to get our scores where they needed to be and then it all fell apart.

On the day I was discussing down payment and such I was told they needed to run my credit again. This was just 1 week after our scores were pulled and we qualified for the mortgage. I asked why they needed to run them again and I was told because they misspelled my wife's last name when they ran it before. Now they are saying our credit scores are not good enough and we need to fix them again. The best they will do is say sorry. Well sorry is not fixing the fact that the deadline to buy the house my family lives in is fast approaching and we will lose the house come that day. Just all around felt like the only way I could get anything done was to call and sit on the phone with them while they actually worked on my application. Complete waste of my time and now I need to start over with a deadline that is almost impossible.

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We already had refinanced with Quicken loans 1st time was a breeze. We wanted to change our loan from a FHA loan to conventional loan to save on MIP premiums. We started our loan process in November, it took 4 months to close our loan. They lost our paperwork numerous times, we also went through numerous agents to complete the process and 2 days before we were suppose to close we had to come up with $1600.00 in closing costs, we were told there would be no closing costs. We had to sign documentation several times to keep our rate in place because they took so long to process. If we had known we would have refinanced our conventional loan with someone else. Horrible experience!

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For 6 weeks, employees lied to us re: closing costs/ cash needed @ closing/ would not call us to discuss these discrepancies. Requested mortgage to be in name of: Husband Name/ Spouse Name, "joint ownership, with rights of survivorship". They said not legal in Texas... IT IS LEGAL IN TEXAS. They charged us for homeowners/ flood insurance which was already paid through March 2018. Alicia called us and said, "Your cash on hand at closing will be $42.00"... She sent documents a few minutes later and they stated... cash @ closing was $973.00??? We contacted them about discrepancy. NO ONE CALLED US BACK?

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Today I got a letter in the mail for a loan denial. I never even put in for a loan with Quicken Loans. I called them... They stated that the letter was sent automatically. This letter stated that I was denied a loan and that it was because of Current/previous slow payments, judgments, liens or BK. I have none of those listed and when I asked the women at Quicken Loans why I was sent this denial, she said not to worry about it... My credit was never checked! Unbelievable! I stated to her that I was contacting the Banking Commission. She didn't seem to even care! This is fraud and unlawful. I can't send an image of the letter without showing my personal information.

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Was really hoping I wouldn't have to add another review to the sea of bad ones listed here, but here goes. Basically with this company, you are dealing with so many different people, the right hand doesn't know what the left hand is doing. You get confirmation of something from one person, then have another tell you, "No, that's not actually OK." I can't tell you how many times this happened. It was an emotional roller coaster from beginning to end with different people telling us different things. Throughout the course of our time working with this company, we dealt with at least four, maybe five different people.

The people who pre-approve you don't appear to have much of an idea what they are doing. We were initially pre-approved for $270,000 and spent two weeks looking at houses in this price range. Almost on the verge of putting in an offer. Then, the guy we were working will calls and says, "No, sorry, you're actually only approved for $250,000. We missed something on your credit report." How incompetent is that? Here we were, ready to make an offer on a house, only to find out we can't actually afford to during the 11th hour.

Also, Quicken works on their schedule, not yours. Thanks to them dragging their feet, we very nearly lost our earnest money on the home we finally did make an offer on. It fell through with only two weeks left before closing, on the DAY our financing contingency ran out. Despite me telling them to please hurry and give me an answer, there were multiple days (business days) when my loan remained untouched where no one looked at it or did anything. If I had not called repeatedly and demanded to have the documents I uploaded looked over, we would have lost $1500.

Unfortunately, our loan fell through in large part due to Quicken's misinformation. They ended up not being able to use my down payment money after initially telling me they could use it when we were still in due diligence. If I had known my down payment funds wouldn't be acceptable, I would have backed out during due diligence and saved myself $800 in appraisal and inspection money. This was one person telling me one thing, and then another telling me something different. That's the problem you run into when there are 5 different people working on your loan.

All this came about with only 48 hours to clear to close, during final review. Right when we thought we were home free. We will go through this process again once we've dusted ourselves off, but we will NEVER use Quicken Loans. I cannot warn you away from this company enough. If you decide to jump on board with them, be prepared for a long, bumpy ride.

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Began home refinance with QL for a conventional loan, which than changed to a FHA, and then VA. Very disappointed. Spent time, paperwork, phone calls. At the end numbers said originally were higher than originally quoted. The final VA loan proposal APR changed 3 times in as many days. Each time the rate went up. Their answer to this was "After review we were not able to qualify you on the lower interest rate. I'm sorry we could not make things work out. I wish you the best and I will withdraw your loan application". The original conventional loan had a 4.125 APR. The VA loan proposal started at 3.675 APR and finally ended at 4.124. Buyer Beware... They just dangle a low interest rate as bait then raise the rate.

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I've used them a few times and each time it has been an awesome experience with great value. They deliver as advertised. No bait and switch. Also, rates are exactly what they say they will be at closing... unlike other companies that raise them at last minute.

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This is the most dishonest company you can EVER deal with. They will tell you anything to get your loan. They told us that when the interest rates went down they would redo our loan AT NO CHARGE TO US. This is a total lie. They even take your escrow from your previous loan company and apply the monies to the loan at Quicken and it's legal. They need to be investigated and have to refund all the monies to their former clients. They ask you at closing, "How were you treated." I believe they do this in order to try and get good reviews. Again they are NOT A COMPANY you want to do business with, unless you want to be taken advantage of. They will tell you anything to get your business and then throw the SCREWS to you. So again my advice is to BEWARE! BEWARE OF THIS COMPANY. If I could give them a zero I would have.

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I wish I would've read these reviews before using QL. My VA application made it all the way to the underwriting stage following endless effort on my part to provide everything they asked and required of me. I paid almost $1100.00 in credit cards, had the home inspected at $325.00, and the home was appraised. They took a $400.00 GFD and said it is used towards the appraisal cost and any other internal costs to the process i.e. credit reports. My in-laws already purchased airplane tickets to fly to GA to help us move 18hrs. I increased my hours at work and provided documentation from my employer about my increased hours just to satisfy QL requests. I am also a full-time student and my studies have fallen behind due to my extra effort to make them happy.

I was told by the original guy who handled my application that the only reason he could not tell me that I am 100% guaranteed my loan is because he can't guarantee that everything with the house will go as desired, i.e. the appraisal, the inspection, etc. He assured me there wouldn't be any other hiccups. The liaison for the underwriting team, apparently all he's good for being, informed me that the underwriting team decided that my income wasn't stable because I don't have 12 months with my current employer. They referred me to VA Pam 26-7 which is a guideline of what they should follow.

Under this GUIDELINE, they decided they couldn't give me a VA loan. The guideline does allow and give direction for lenders to make exceptions. My application should not have left the first guy's desk having this information if QL requires the 12 months history. The exception is if proof of probability of continued employment is provided then the lender may choose to provide the loan. I provided documentation from my employer stating that my job was secure and I will continue to work there.

He even falsely reported information on one of the QL loan application documents. He claimed I had over 3 years history with my employer. This information was completely made up considering my DD214 was signed November 26, 2014! I was completely led on since day 2 of the process when he verified my employment history. I will now have to fight to be reimbursed for ALL the money I've lost so far during this process due to QL not acting in good faith. It is despicable that an organization would treat anyone like this, much less a Veteran of which they say they take so much pride in assisting with buying a home. Quicken Loans is a joke.

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Mortgage Companies hate when you shop around and do your due diligence. Quicken Loans is not easy, nor quick for a refinance. Also, they cannot deal with any criteria that does not fit their model. Fees just mounting, agents cannot properly explain "Risk". Buyer Beware! I got a better deal with my credit union, Citadel!

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I had heard good things, and started out fine. They were quick to get me a pre-approval letter, home inspection (at my cost of $500 out-of-pocket) but then demanded a ridiculous amount of paperwork, lost things, made us submit a letter stating how we knew the seller (seriously?) and it basically blew their minds that we own a business. I had to submit 3 years of complete tax forms, profit/loss statements, bank statements for 3 months. Different person every time I called. This went on for 2 months. Then when it came to about 3 weeks before closing they told me I'd suddenly need to pay off my car. An additional $9K! Got rude with me and started treating me like a complete moron when I got upset about that "little" last minute change. It was the worst experience of my life and it's taken me another 6 months to get my credit score back up after they hard checked it 3 times.

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I started a mortgage loan through Quicken Loans in which they required a $500 fee upfront. I was told by JoAnn ** if loan does not go through we get a refund. Like other reviews I started off with 1 person then got Eric who does not keep you in contact or the loop. He advised me I needed to show proof of funds in 2 of my checking accounts since 1 was in my old business name they would not allow me to use that as income. Per Eric had to be in there for 3 months without touching it. After submitting numerous forms and uploading documents they would not finance us. I called to get a refund and no one will talk to us. I emailed Joann 3 times but have received no response. Another Mortgage company picked up our loan and we are in our new home. No thanks to Quicken Loans who lead us to believe everything was good. Never would do business with Quicken Loans again.

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I recently applied for a mortgage loan and worked with Justin ** of Quicken. Although we were unable to get the home of our dreams, I have never worked with a kinder, hard working, professional, and compassionate person than Justin **. I cannot say enough good about this man. I don't think he sleeps much because he was the most promptly responsive and positive person I have ever worked with on anything. He is a credit to his company and I consider myself very fortunate to have worked with him. Thank you Justin and thank you Quicken!

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I wish I had check this site BEFORE getting sucked in! I have been working with these clowns for weeks now. They keep asking for the same documentation which is uploaded to their site. When I point that out they tell me, the request is computer generated in error. They have dragged their feet, lead me on, and still no closing. The appraisal is in, the conditional approval was obtained weeks ago, and today I get ANOTHER "to-do" requesting w2s!. Those were supplied at the beginning of this joke of a process. They don't know what they are doing! They keep blaming the underwriters and the Feds! These clowns need to be out of business. WORST experience I have ever had! And this ISN'T MY FIRST RODEO! Negative stars is more appropriate.

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I was being contacted every day before work (before I was even awake) and every day during work despite asking them not to contact me before 3 pm. Beyond that, I was contacted via email 2-3 times a week and texted the same amount. I asked them not to text me or email me unless it was important because it was very stressful and felt like harassment.

A few minutes later I get an email saying my account was canceled which was /not/ what I asked for. So basically all the work I've been doing looking for houses, all the paperwork I sent in and all the time I had to sit there and take call after call because they just wouldn't stop calling was wasted. DO NOT use Quicken Loans, I've worked with other loan offices before and Quicken is downright unprofessional. Boarding on harassment.

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My husband and I called Quicken Loans for a home loan for the first time and was treated very nice at the beginning. Jill who we worked with was very nice, gave us a pre approval letter for a certain amount. After we finally found a home we both loved and was getting everything set up she tells us that we are not approved at all for the amount and she can no longer help us out. Quicken loans DOES NOT pre approve you! They give you the amount of money that you need. They try and charge you $500 to process a loan also. DO NOT ever go with Quicken loans. They are nothing but scam artists. I wish we would've read more about them before applying. We now have a very nice gentleman that we are working with who went above and beyond to help us. I'm only putting this on here just in case there is another first time home buyer looking to use Quicken loans! They are money hungry people who do not need to treat their customers like they do.

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Run away from Quicken Loans! They are fraudulent. They strung us along with false promises of refinancing with a low interest rate. As soon as they got the appraisal fee, the story changed. We no longer qualify for the loan. They wouldn't give us a refund even though they sent us a letter stating we would get a refund if the loan process were cancelled by them. They concocted more lies when I drew their attention to the said letter! This was the worst experience we ever had. I will be sure to spread the word around friends, families and others. Bloody LIARS!

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Quicken is NOT a good company to work with. PLEASE BEWARE!!! They are not an ethical company. Three times we tried to get a refinance loan with Quicken, and each time the agents made HUGE mistakes that had a negative impact on the outcome. The final (AND LAST) the agent did NOT tell us the $400 deposit would NOT come back to us if the loan did not close.

Rachel ** reviewed the conversation AND did NOT find where the agent told me the $400 was completely NONREFUNDABLE if the loan was not processed. He ONLY said if we backed out it was not refundable! Rachel fully admitted this yet STILL stood behind the dishonest unethical company that she works for. At the end of the day, she is a good person. I can tell it is the company she works for that I would NEVER do business with. I will make sure to tell everyone I can to BEWARE!! You as the client better make sure YOU ask every question imaginable because there's a good chance they'll fail to tell you some VERY important piece of information!!

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Very disappointed. Spent time, paperwork, phone calls. At the end numbers said originally were higher, and some basic requirements were not disclosed at the beginning. Quicken loan requires minimum 2 yr employment at each job. This information was sent back to me after 2 yrs tax documents page stubs etc. was submitted. Credit check. Despite several phone records should show I specifically said one job has over 10 yrs and one is only 8 months. Don't recommend them. Use other companies that have doorfront grants etc.

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I wouldn't use them again if you paid me. The most LOOONNNGGG process I've ever been through and have bought 7 houses previously. They truly don't care whether you get the house or not. If it had not been for my realtor getting someone out to do a second appraisal (which Quicken required) and then the seller fixing what they felt should be fixed within one day I would have lost the house and had nowhere to go. They made my life a living hell, one person for this, one person for that, none of them communicate or are off and no one to cover for them.

Every other loan I've had has run so smooth but there's was the loan from hell. I actually thought I was going to have a nervous breakdown. Had they done what they said they would in the beginning I would have been able to move from my previous home to my new one but because of their "system" I had to put my thing in storage for a week and stay with a friend until they got their ** together. A bunch of stupid noncaring hateful people.

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We recently closed a Quicken loan to get a reverse mortgage. Instead of refunding our overage in escrow, Quicken Loans applied it to the payoff. They did not advise us of this practice which they've begun in the past two years nor did they ask our permission to use our escrow funds this way. Their executive client service team advised us that they were allowed by law to do this.

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After having $400 charged to my credit card for an appraisal I decided not to go through with the loans because of the less than attractive interest rate and the excessive closing costs. After numerous requests to refund the $400 I finally had to contact the credit card company and they successful in getting the charges reversed. In the meantime, while they were stalling on refunding my money, Quicken was willing to extend the "locked-in" date, reduce the closing costs, and found a lower interest rate. Total scam. Stay away.

Updated 3/12/2017 - Finally got my bank to get a partial refund of $347.14 of $400.00 from Quicken. I had allowed them to charge my credit card for a house inspection. I backed out before the appraisal could be done because of a high interest rate and high closing fees. Now I am contesting the remaining $52.86 as a matter of principle. I have no idea what the $52.86 is for. Do not enter into any kind of business deal with these people. Do not give them your SS number, do not give them a credit card number, do not give them the time of day. They are total scam artists. If you have made any kind of a deposit with your credit card, call the bank that issued your card and have them call Quicken as soon as possible. Do not put up with this abuse.

Expert Review

ConsumerAffairs Research Team

The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.

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.
  • Dedicated HARP page: Because HARP is in effect until September 2017, consumers still have the opportunity to see if they qualify for HARP refinancing. Quicken provides a comprehensive guide to HARP loan modification including eligibility information and answers to frequently asked questions.
  • 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.

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Quicken Loans Company Profile

Company Name:
Quicken Loans
Website:
http://www.quickenloans.com/