Follow us:
  1. Home
  2. Mortgages

Quicken Loans

Quicken Loans
Overall Satisfaction Rating 1.60/5
  • 5 stars
    29
  • 4 stars
    10
  • 3 stars
    5
  • 2 stars
    17
  • 1 stars
    254
Based on 315 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

Why Trust ConsumerAffairs
How do I know I can trust these reviews about Quicken Loans?
  • 2,378,239 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.

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. I feel safe now and secure for my future.

Read full review
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.

Read full review

Get trending consumer news and recalls

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    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

    Sort: Top reviews
    Filter by: Any

    A link has directed you to this review. Its location on this page may change next time you visit.

    How do I know I can trust these reviews about Quicken Loans?
    How do I know I can trust these reviews about Quicken Loans?
    • 2,378,239 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
    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.

    4 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.

    14 people found this review helpful

    Not sure how to choose?

    Get buying tips about Mortgage Lenders delivered to your inbox.

      Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

      We value your privacy. Unsubscribe easily.
      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.

      15 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Sept. 30, 2019

      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:

      1. Talk to banker. He will start gathering your info and give you a preapproval. (few days)
      2. Given the preapproval, they will ask you for a $500 good faith deposit to start the appraisal process. (few days)
      3. A week or two after that, they'll give you a conditional approval.
      4. At this point, they are waiting for the title clearance and appraisal clearance. (1-2 weeks)
      5. After you get your title cleared, their attorneys will double check the title (1-2 weeks)

      6. They'll send over the closing disclosure, and then schedule the final closing. (about 1 week)

      All in all, it will take about 1-2 months. Good luck all.

      65 people found this review helpful
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Sept. 17, 2019

      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.

      So here we are 5 years later and work a month behind on our payments. And no matter what we do we can't seem to catch up because we could getting hit with different expenses. I just wanted to give a review for our account resolution specialist Ashley **. We didn't get a chance to talk we only use the chat online, but I was really pleased with how punctual she was with everything and she was just overall really sweet. It's kind of hard to feel that through texting but she made it possible. And I just wanted to give a big thanks for sending the $100 gift card for us to grab some quick meals while our kiddos are going through the tough time that they are.

      She had asked me why we were behind on payments, as we are in the middle of a loan modification, and I told her both of our children had gotten sick. One has ITP and the other one has Chiari malformation and it's just been a struggle with everything being back and forth to work and she so kindly sent over a gift card for $100 for us to help us out with food. So not only were we behind on payments but she also helped us out by sending us $100 gift card and I am truly grateful. I'm glad I went out on a limb and took a chance with Quicken Loans because it has been all worth it. Even jumping through the hoops.

      32 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 5, 2020

      While applying to refinance our loan online we filled out an application and gave all our information online. When we were dealing with the refinancing rep he asked us for the same information that we filled out which is completely waste of time. Once we were in the refinancing process he first says, "I can get you a great rate." The closing cost is $1200.00. Then makes another verbal offer of 2.99% with $20k Closing cost which he quickly said under his breath. It was just completely unprofessional there is nothing in email regarding this discussions. Everything is verbal and over the phone even when we requested an email. We have never experienced this unprofessionalism with other banks or credit unions. They lost our business.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 4, 2020

      It's been two weeks since my closing. No loan disbursement yet. CS said there was a problem with my loan paperwork. Why wasn't I notified. I'm paying interest on 2 mortgages. Piss poor customer service.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 4, 2020

      We wanted an FHA Streamline Refinance. Everything seemed to start off great, got an initial disclosure aka good faith estimate. We signed and moved forward with the process. They asked for many documents several times which we quickly provided. Then we get the Closing Disclosure. The closing costs are listed THOUSANDS of dollars HIGHER than our initial disclosure. We refuse to sign. We ask questions about why there is such a discrepancy, and the loan processor can not provide us with one coherent answer. (QL was dishonest about the closing costs and what could and could not be financed according to the FHA.. which QL either has been and/or is being sued for- by the FHA- along with other dishonest practices QL committed, just fyi- **).

      We ask to speak with another person regarding our loan and we end up speaking with 2 or 3 people. The Closing Disclosure is re-written with closing costs which more closely reflect what they told us originally, Re-submitted as a “document” in their “app” but was never sent to us to sign, and no closing date was set. We have been waiting on a finalized Closing Disclosure for signature and a closing date for over a month.

      I have sent repeated emails and phone calls asking what the hold up is, only to be told they are re-verifying employment. This was done already, and we were supposed to be set to close, and according to their own disclosure any re-submittal of costs should only take 3 days. We were forced to pay another months mortgage payment, which will now change all the numbers in the escrow, payoff, etc., which will now need to all be re-issued and re-verified. There is no excuse for the length of time this is taking, especially on a streamline, which is specifically designed to cut the length of time the process takes.

      We would have taken less issue with the length of time this is taking if we felt that we had not been lied to, if the representatives were aware and honest about the rules and laws regarding FHA, and overall communication with us regarding the entire process. Now we believe QL used a “bait and switch” tactic to force us into the close by wasting our time, money, and rate lock. According to the hundreds of 1 star reviews in the last 3 months, all with very similar problems as mine, I would say QL is taking advantage of people during a pandemic, which shows low moral character, dishonest business practices, and an overall untrustworthy company to handle your most important financial investment, your home. Buyer Beware.

      7 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 3, 2020

      Quicken Loans is the worst company to do refinancing with. The appraisal that the company use is a crook and they always estimate at 100-150k lower the initial price. On top of that, you can NOT transfer the appraisal so you lose $500. I had my house listed for 662k with the appraisal of Quicken Loans (very low compared to Zillow) and a month later I got it priced for $782k with its competitor Amerisave Mortgage corporate. How can you explain that???? On top of that, their customer services are very bad and those salesmen are nothing but crook. Quicken Loans might be ranked number in Google because they spend a lot of money in the advertisement but trust me you are better off with them. Also, do NOT do any business with those 2 rude people: -Muhammad ** -Adam **. Both of them are very sneaky and act like they are professional but at the end of the day, they are just trying to rip you off!!!

      6 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: July 31, 2020

      We requested a small loan for a house purchase. We put 60% as a down payment so the loan was a relatively small amount. Our escrow was 4 weeks. After 4 weeks, our loan application was still processing. Every day, they requested 10 new papers, and every time it took 3 days to review them. We had to take time from work just to collect all the documents they required. 10 days and 3 extensions later, our loan was still processing. We never got the approval or denial - just processing. We finally had to abandon our application and borrow money from the family to close the escrow, because the sellers were not willing to wait any longer. Terrible company.

      8 people found this review helpful
      Loading more reviews...

      Quicken Loans Company Information

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