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Quicken Loans
Overall Satisfaction Rating
3.61/5
  • 5 stars
    818
  • 4 stars
    697
  • 3 stars
    560
  • 2 stars
    225
  • 1 stars
    274
Based on 2,574 ratings submitted in the last year
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      4600 Quicken Loans Consumer Reviews

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      Page 1 Reviews 1 - 30
      Rated with 5 stars
      Verified Reviewer
      Original review: June 4, 2019

      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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      Rated with 5 stars
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      Verified Reviewer
      Original review: April 26, 2019

      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!

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      20 people found this review helpful
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      Rated with 5 stars
      Verified Reviewer
      Original review: Sept. 26, 2018

      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!!!

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      16 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: July 28, 2018

      They were very easy to work with and made the whole process convenient. This was a reverse mortgage so the process started with a TV ad. My wife and I discussed this and decided we should look into it. I called Quicken and got in touch with one of their people who became my main contact throughout the process. He explained the reverse mortgage in more detail which cause us to converse with both of our daughters to make certain that neither of them had an interest in inheriting our home. When this was not an issue we started the process and went to the class with the third party that went into further detail of what happens with the reverse mortgage from the beginning to the end. We made our decision, paid off our line of credit and moved forward with the reverse mortgage. Like most people with any mortgage I would have preferred a lower interest rate but market conditions do not always allow us to get what we want.

      I liked the people at Quicken. From the first call they demonstrated friendliness and professionalism that made my wife and I feel comfortable. Their people were extremely helpful. When we had questions they were answered quickly and completely to our satisfaction. I started the process on the phone and completed it in my home instead of having to go to some inconvenient location. For me the most important thing was not having to go to an office for the closing. My advice to anyone considering a reverse mortgage is to go with Quicken Loans because they were so helpful to us. If you are getting a regular or refinanced mortgage I would expect you would get the same treatment. Quicken delivered on all that they promised which is unusual in today's world.

      Also, the bank that held a line of credit that we paid off on our home prior to completing the Quicken loan was slow in processing the necessary paperwork showing that the loan had been paid off. When I expressed my frustration in dealing with the bank to get this issue resolved the people at Quicken stepped in and contacted the bank and it was resolved and I got the documentation that was needed.

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      4 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: July 20, 2018

      My experience with Quicken Loans has been relatively positive for a mortgage company. The process of getting a mortgage from them can be very fast or long and thought out, it just depends on the amount of research that you do into the mortgage process and finding what is the best option for you. For me, personally, I would have like more human interaction during the process to be more confident in my decisions and have a sounding board to bounce ideas off of.

      There is no adviser there for you to judge your situation specifically. The whole process is done online and you could really use someone to explain the rates, down payments, private mortgage insurance, and give you advice on what would be best for you. This means that you will be doing a lot of research on your own if you truly want to be prepared and confident in your selection of a mortgage provider. I do not regret my choice though because even if it took more time and research I got the best mortgage for my situation at the time.

      I liked the process of applying for the mortgage. Applying for the loan took me at most under an hour to complete and that was all from the comfort of my home. At that time Quicken Loans gave me the easiest process and the best rate for a mortgage out of all of the options that I was considering. Then, the approval for the mortgage came quickly. Lastly the interface of their website has always been easy to use and I can find everything that I need to easily. To this day the process of checking my account and making payments is always easy. However, I think that my interest rate is a little high for me and do not love making the monthly mortgage payments, but that would be true of any company or bank that would have provided me a mortgage when I bought my home.

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      7 people found this review helpful
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      Rated with 1 star
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      Verified Reviewer
      Original review: June 25, 2019

      First let's start with the simple Quicken statement "We are built to amaze". I was amazed that I had to wait 25 minutes to speak with a person, pretty amazing. Then they could not give me a payoff based on my historical payment amounts because it was over 30 days request. This seems like a pretty easy calculation based on the loan amount and the payments over the next 4 months. Why can't Quicken calculate the loan payoff for date certain 11/1/2019 (I asked on 6/25/2019). Anyway I was totally amazed on the length of time that it took to find out Quicken cannot give me a payoff amount more than 30 days out. Amazing.

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      Rated with 1 star
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      Verified Reviewer
      Original review: June 24, 2019

      On a recent refi transaction, I was all set to complete the deal with Quicken/ Rocket Mortgage. Rocket fees were $20k higher on a $460k loan compared to a local provider. AND Rocket kept my $500 deposit.

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      Rated with 1 star
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      Verified Reviewer
      Original review: June 22, 2019

      I started a loan process due to my wife and I wanting a larger home. So we picked Quicken Loans or Rocket Mortgage to help us since they completed our refi. Charlie ** NMLS#** and Max ** could have saved us the trouble by reviewing my pay when I was preapproved for a home. Charlie told me I was good to go. Instead of seeing the fact that my pay is partly split per diem, and after wrangling with him over the high interest rate over the national average of 3.625% he gave me a better rate. I accepted the rate, we locked it and he orders an appraisal which was not cheap. After the loan gets to Max ** at underwriting the cloak and dagger behavior started happening. They started asking for more documents like pay stubs with overtime on them or older w2's that they did not use.

      After all that they tell me my income is less due to my split per diem pay and my wife needs to join the loan. She did and it gets worse. My wife sensing a problem finally just asked them straight up "PLEASE BE HONEST AND JUST TELL US WHAT THE PROBLEM IS". They said they can't do the loan after stringing us along for 3 weeks and tapping out at 2 weeks out from our closing date. A Senior Banker should be able to skim over the pay stubs up front and see issues. With a near 800 credit score and six figure income I really can't buy the home we have under contract because part of my salary is untaxed by federal law. To make things worse we may lose our earnest money.

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      Rated with 1 star
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      Verified Reviewer
      Original review: June 22, 2019

      Horrible information received -- and more than one time. Horrible customer relations. You -- the idiot, TERRIBLE salesman -- bring me to an underwriter telling me the whole time "no problem with this loan", and boom -- IDIOT underwriter is too damn lazy to whip his way out of a wet paper bag. Bottom line - don't do business with these guys. These guys are clueless!

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      Rated with 1 star
      Verified Reviewer
      Original review: June 22, 2019

      The loan officer explained all my options. Add property taxes and insurance, pay this bill off and what payments would be. I listened but really only wanted to refinance the mortgage. Almost backed out the one day because I completed a refinance with my bank. But then I came back to Quicken. I didn’t have any credit card to put the appraisal on and was going to use my debit card. Didn’t have $500 in my account and the loan officer agreed to $250. The loan officer told me I hope your house will appraise for at least $80,000. That’s when bells and whistles went off. I was only wanting a little more than half that amount. I checked the on line loan that I hadn’t signed.

      I immediately chatted with an agent from Quicken, told them I was done. Didn’t want their loan. The agent said they would give my loan officer the message and he would call me. Next day, he doesn’t call but the appraiser called. Told him that I’m not going through with a loan from Quicken. He said that he was just the appraiser and he wouldn’t bother me again. I asked what about a refund. He said “good luck with that!” Finally late in the afternoon, loan officer calls and says, "I thought you understood." Told him “you never listened.” Asked about getting a refund for the appraisal I didn’t get. He said the most I would be charged would be $10-$15 for credit check. We will see!

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      Rated with 1 star
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      Verified Reviewer
      Original review: June 21, 2019

      I recently contacted Quicken Loans to refinance my house that I have lived in for 16 years. The loan application went well. Everything looked good according to the rep for the company. I paid the 500 dollars for the appraisal fee. The appraisal was done and the house was appraised for almost as much as when the house was purchased 16 years ago. When I talked to a recovery rep he said that happens often and I could not get my money back. I would highly recommend staying away from this company unless you want to take the chance of losing 500 dollars.

      2 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: June 20, 2019

      If you are thinking of a refinance, make sure you get multiple loan estimates! Tom at Quicken was certainly helpful and nearly had me agreeing to his refi proposal at 3.75% on a 15 year fixed with over $6500 in closing costs (quite the salesman!). When I told him I wanted to shop around a bit, Tom said he would meet any other offer I could find and he said this a few more times over the following days as I did my own research. I obtained five more estimates, Quicken was the highest in closing costs at that interest rate.

      I found a local bank offering 3.125% on a 15 year fixed with $4000 in closing costs. After forwarding the loan estimate to Tom at Quicken, he told me they can't offer those terms because they won't make any money, and that the other bank would likely sell my loan. I told him that I know they will sell my loan and they told me who they are selling it to, so I could research them. It's funny how they went from, "we don't want to lose a current customer," to "we won't make any money" off you. Adios Quicken!

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      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 19, 2019

      Trust me, STAY FAR AWAY!!!! These people are a scam and will rip you off. The process will be delayed over and over, the amounts will go up, they will wait until the last minute to ask for very very important documentation that takes time to receive such as (surveys) and in the end they will keep your 500 dollars. This is not a business to help people get mortgages, this is just a quick easy 500 dollars, 1 person at a time.

      6 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: June 17, 2019

      Credit Score 809, $3,000,000 in Savings/IRA, $7,000,000 net worth. No debt. Credit card balances paid off monthly, no other loans or mortgages. Yet after sending all sorts of documentation, requested one at a time over a period of weeks, I received a letter from Senior Banker Rachel ** that my mortgage loan request was declined "due to excessive debt to income". But she knows I have ZERO debt.

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 14, 2019

      Quicken is such a scam. At first was all going good until closing, on that day (06/05/19) Kris at Quicken confirmed that I was clear to close on my first house and advised she it’s a matter of waiting for the closing date. Shortly after (1 hour later) she calls me requesting additional documentation to back up the original documents I had provided when initially submitting my loan application. Ok well then I provided her the docs needed. Kris again confirmed that all was good and we are waiting on the closing date.

      The next day 06/06/19 she calls and advises that we had to start the application all over to convert my loan from conventional to FHA because she made an error by failing to add the monthly HOA. This information should have been already done prior to clearing me to close. So being that I’m far in to process and by this time given the “good faith deposit” of $500, I agree to continue. For the million Quicken confirms all is good and clear to close and waiting for closing date. Couple of days go by and Quicken calls me to advise that their “team” just realized the property taxes are higher than expected and my loan application must be redone with the correct numbers and that my closing cost is going from $10,900 to $11,500!!?? I was already so pissed but decided to go forward (BAD CHOICE!).

      Once I agreed, they call me back hours later saying they made a mistake (for the 4/ 5 time) and my closing cost will be $15,000 with a chance it could be higher on closing date WTF!! At this point it is ridiculous and not going to provide more money that I’m uncomfortable. I'm extremely upset and request that to withdraw my loan and go elsewhere and refund of my deposit. At this point the agent states with a smart remark “good luck with another lender” and hung up!! They are supposed to be professionals but they cant get anything done right on their part. Shortly after Maria with Quicken calls me and says my loan is denied and only a partial amount of my deposit will be refunded?!

      The moment you decide to leave them they disrespect you and make you feel stupid for choosing a diff lender and not only that but lie about denying your loan just because you decide to leave?!?! Someone else had warned me about this and I didn’t listen because I wanted to give them a chance but after this I’m done and I would never recommend Quicken to anyone!! They are not professional and it's a roller coaster of emotions unnecessary stress to have to go through...I'll be glad to be done with them!! The good thing is that Put in an application with BoA and currently in processing. Please people don’t use Quicken they lie instead go to a local lender!!

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      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 14, 2019

      Quicken loan officers gathered all my financial information, sent an appraiser to my house and charged my credit card $500 for it, then a supervisor called and informed my loan was not approved. So instead of having a refi with lower monthly payments as promised, I now have an additional $500 debt. I’m VERY dissatisfied with the process Quicken Loans put me through.

      11 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 14, 2019

      I just completed a home loan with Quicken Loans. I used them based on their online reviews. I had a month of constant calls wanting personal banking accounts to prove I was not using corrupt money. I gave them the first account to prove I had enough money to pay the "estimated" closing costs over $9000. I gave them an account with more than needed. They insisted I give them access to the account. It have a large deposit from the sale of our previous house. I had deposited the check into that account and our savings account. They demanded to see my savings account. I denied them access, but offered a new account we had started in our new hometown. They wanted me to prove where we got the money for to start this account. I told them it was an inheritance check from my wife's father's estate, and that we opened a checking and savings account with it.

      They demanded to see the actual check. I provided it. Then they wanted to know where the rest of the deposit and would not process our loan until we gave them access to the savings account. After all this mess, they established both accounts were not eligible to use because neither was 60 days old! So, in order to process the loan I had to allow them access to our other savings account, the 4th account, and start the whole "where did this money come from" scenario. I had to prove to them a deposit in the account was from our tax returns and from the sale of our previous house. This should have been enough to make me realize I should have gone back to Wells Fargo, where I had two prior loans.

      Unfortunately, the story doesn't end there. After this dog and pony show, my closing costs were down to $538! Nowhere near the $9000+ they initially made me prove I had money to cover the costs. I purchased this house from a family member and made it very clear I was paying ALL closing costs. During the banking nightmare I told my loan officer I was finished and was not going to use them. He offered me $1000 off the closing costs if I would finish the loan. I agreed and was sent final paperwork stating I had to pay the $538 in closing costs, but I told the loan agent if anything changed it was over.

      My title company called me the next day and informed me Quicken Loans had made a mistake and my closing costs would be $841. I was furious but 3 days from closing and agreed. I accepted the final papers from QL but was never contacted by the loan officer about the changes. The day I went to close on the loan with my family member, we learned the loan officer hid over $400 of the closing costs by charging it to my family member. I had to pay it because I told my family member I would pay all the costs.

      This whole transaction was a complete nightmare. They even insisted I had to get them bank statements on the day of my oldest daughter's college graduation! It ruined a day that should have been full of joy. I would never use Quicken Loans or recommend them. I am in the process of refinancing my loan with Wells Fargo to get away from this company. This is a true story and I did not exaggerate anything, sad but true.

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      12 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 14, 2019

      Bad experience. Those people are only interested in refinancing options and nothing else. Our agent, Taylor ‭**‬ has promised to provide information for other options/tools, but he didn’t hold his promise. Not recommend them.

      5 people found this review helpful
      Rated with 2 stars
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      Verified Reviewer
      Original review: June 14, 2019

      There is a double blind appraiser choice service, which is good for the industry. However, when an appraiser who does not know your market, but desperately wants to retain their position with Quicken, you are essentially, setting 500 bucks on fire. Once you receive a truly incorrect, below all market trend appraisal, the loan officer who took your cc number brushes you off, as his cut of the 6k closing is out of the picture, as he/she sees it. The parameters are given to you to go out and find your own comps, which is the most important part of the appraisal. Once submitted, they send it directly to the original appraiser, whose reputation is at stake if he was wrong and you, your county, and your real estate agent, know nothing. Quicken accepts this and offers you no other alternative.

      For my good faith deposit, I expect them to show a vested interest in my home and outcome. While the person they assign you communicates regularly, it does not speak to the failure in the process. Bottom line assumption for me is that they receive so many loan requests, they could care less whether my appraisal was fair and the appraiser knows my market. Bottom line: I’m stuck with a loss in value after 6 years and replacing all major expense items of a home, for 120 days with FHA. I’d like to thank them for zero representation in the process. They assume NO fiduciary responsibility on your behalf, even if their appraisal explanation states that they may use more than one. Regardless of my documentation and written requests, I got nothing but 500 less in my bank account.

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      6 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: June 12, 2019

      My employer has a program with them so I thought I'd give it a try. Definitely did not feel like a "VIP". The man I spoke with was not empathetic at all to my situation. As soon as he realized he wasn't going to be able to cash in on a huge loan, he cut the conversion short, even hung up on me at the end. Very rude. I called to get my options weighed out and got no answers or assistance of any kind from their VIP insiders.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 12, 2019

      I was filling out what I thought was a questionnaire for the government HARP program. Before I even closed the browser my phone rang from what looked like a local number. It was Quicken. After I let him know how dismayed I was at his intrusion, he transferred me to a local agent. I hung up on both of them. I then received "follow up" emails from this woman to which I replied with regard to the conversation she was referencing that we had had no conversation and that they were to remove me from their mailing list. Predatory, aggressive, worse than a house fly or debt collector.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 12, 2019

      I inquired about rates to refinance. I was looking to consolidate my two fixed rate 30yr mortgages and use an investment property as the collateral. In short, a cash out refinance on an investment property. They said that for sure they'd get rates that beat my current situation, and pressed me for my social to run a credit check and said they'd call back with some hard numbers. They tried pretty hard to sell me a loan that was waaaay worse off than my current situation. Even to suggest the loan as a reasonable alternative is negligent. To try and convince me that it would save me money (it raised my interest rates by about 6k per year (about 1.5%), extended my loan life by 5 years) and charge me 15k for the loan borders on criminal. My takeaway is that this company's model is to prey on fools. Fools be warned. Do not give them your social security number.

      4 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: June 12, 2019

      I tried to cancel a refi I started within 24 hours but they would not let me cancel it. They give me the runaround instead of doing what I ask. While I’m requesting for the process to be terminated, they went ahead and set an appraisal and charge me $400 while I’m still asking them to cancel the process and this all happened within 48 hours. You cannot imagine how all this happened within 48 hours right, crazy because no one came to my house to do appraisal. That was not even enough time for someone to do paperwork or do appraisal but it happened to me. Try to do business with this people and see if you change your mind what happens!! I had to call the appraisal person to NOT show up to my house since I’m no longer going through with the process!

      5 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: June 11, 2019

      What I liked about my experience with Quicken Loans was my rates was exceptional and the process of getting a mortgage or refinancing your loan was easy with a very quick approval process. Always responsive to my concerns. My experience with Quicken Loans has been pleasant with one exception -- one being me been charged a late fee when I was not late and it took several calls to have it resolved satisfactorily.

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      Rated with 3 stars
      Verified Reviewer
      Original review: June 11, 2019

      I applied for a mortgage completely online. I liked that a lot. It was an easy process to apply for a loan. The people I talked to were helpful and knowledge... I just filled out an application to get a quote from them. But my mortgage didn't actually go through Quicken Loans. We got a better rate at a local bank, but Quicken seemed like an ok option. I would try them out again in the future if I needed too. I like something more local though. The one thing I did not like was the constant phone calls that I received right after I filled out my information. Even after I decided to use another company for my mortgage, they kept calling me.

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      Rated with 1 star
      Verified Reviewer
      Original review: June 10, 2019

      It all started great as any new relationship. Proposed closing date within a month and all. It was supposed to be a simple transaction. Refinancing a house with over 40% equity, excellent credit, great income.... All a sudden I start getting calls every other day about missing info, from different Quicken Loans reps, info that had been sent go one of them already a few days ago. I reply to each with requested info always informing that the info requested was already submitted, responses vary from different divisions to different positions and so on...

      I have bought 4 houses in the last 15 years, sold 1, so I am pretty familiar with the process, and I am a patient guy, but after over 2 month and no closing date on sight, Quicken Loans calls now seemed Scam Likely calls. I had to cancel everything. Of course my credit was already ran, the 2 month lost and forget about all the time on the phone explaining myself to every new rep that called me. It is like I never had a file. That Rocket account was a total joke. They added and remove information at will hence the call the next day from a new wannabe banker to harass you about the same info that was deleted. Will never recommend or make business with Quicken Loans.

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      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 10, 2019

      After financing my last two condos through Quicken Loans, I’m very disappointed with the service this time around. I am purchasing a home using my VA loan benefits that has a water catchment system. As soon as my offer was accepted, my realtor provided my Quicken Loans Agent the MLS listing that clearly showed it had a water catchment. So, Quicken Loans knew this from the very beginning. At no time during my multiple interactions with my agent did she inform me of Quicken’s policy. I went through the entire loan qualifying process and was in escrow for several weeks only to find out that because of Quicken Loans’ internal policy and NOT VA policy, they were not going to get the required water quality test needed to use my VA loan. Then, they tried to move me into a higher loan. Very deceptive practices. Who knows how many veterans they have scammed.

      7 people found this review helpful
      Rated with 3 stars
      Verified Reviewer
      Original review: June 10, 2019

      Good experience with Quicken Loans. I completed the process online. It was simple, fast and easy. I got a good rate and have been satisfied with the way we have been treated as customers since. They did little things that helped me well and have made it an very satisfying experience for me. They answers the phone when I call or had any questions, and replies to emails fast. They made the process smooth. I got all the help I needed and worked with me through the process. Made the process of buying a home so much easier. Would recommend.

      Be the first one to find this review helpful
      Rated with 3 stars
      Verified Reviewer
      Original review: June 9, 2019

      I financed my previous home purchase by obtaining a loan from Quicken Loans. They have a fairly easy application process. However, being self-employed, they required a tremendous amount of documentation. After the approval, the closing process went smoothly. I never had a problem while they serviced my mortgage and I can't speak as to their customer service because I never had a need to contact them.

      The initial online application is simple. You fill out a few forms and then get pre-qualified. Next, you move to the actual application process. In this step, you can get an approved amount for shopping around with or go ahead and apply your application to a property you're purchasing. Finally, you provide documentation about your income, your employment, your identity, and the property. This last step was overly drawn out because I'm self-employed and could stand some improvement.

      I liked that they serviced my mortgage without any problems arising. I also liked how quickly things proceeded after I was approved and began the closing process. But I think they could make it easier to provide documentation during the application process. Since I own my own business, they required an excessive amount of documentation despite my verifiable income and excellent credit.

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      Rated with 1 star
      Verified Reviewer
      Original review: June 8, 2019

      These are the VA requirements for a VA IRRRL. No appraisal or credit underwriting package is required when applying for an IRRRL. An IRRRL may be done with "no money out of pocket" by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs. When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase. No lender is required to give you an IRRRL, however, any VA lender of your choosing may process your application for an IRRRL. Veterans are strongly urged to contact several lenders because terms may vary. You may NOT receive any cash from the loan proceeds. The whole point of this type of loan is to reduce your interest rate and therefore reduce your monthly payment.

      Quicken Loans still requires you to qualify, meet debt to income ratios, 640 or above credit score, etc etc etc... I understand that it is the lender's prerogative on what they ask for, but seriously?? I am making my monthly payments... every month. My income does not count because it is all passive-rental, retirement and disability?? We make more money passively than others do actively. Also, we served in the military for 32 years and at the DC Superior Court for almost 39 years respectively and very much deserve our passive income. I already have a lender, so not pressed. I was giving Quicken an opportunity, since they are the mortgagee of one of our rental properties and had hoped to draw on the already existing business relationship. Yep - not so much. We are looking at refinancing all four of our properties and Quicken Loans will not be one of the companies we will be working with.

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      2 people found this review helpful
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      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.

      Profile picture of Michele Lerner
      Michele Lerner Mortgage & Real Estate Contributing Editor

      Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.

      Quicken Loans Company Information

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