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Quicken Loans
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Quicken Loans

 4.0/5 (5057 ratings)
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Quicken Loans

About Quicken Loans

Quicken Loans is a mortgage lender that provides a variety of home loans and refinancing options through Rocket Mortgage, its online mortgage platform. The company is licensed in all 50 states and is one of the largest mortgage lenders in the country.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Available nationwide
  • Multiple mortgage options
  • Easy online application

Cons

  • No USDA loans
  • No in-person services

Bottom Line

Quicken Loans offers a streamlined online application for home loans and refinancing. Those who want to purchase a home, lower their mortgage payments or get cash out of their home might find its services helpful.

Top Quicken Loans Reviews

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Rated with 5 stars
Verified

We had an excellent experience with Quicken Loan - from the initial contact with the mortgage broker to our closing. Very responsive, knowledgeable and professional. The whole tra...

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Rated with 4 stars
Verified

The overall loan experience was great. My only issue was the amount of documentation required for the loan that I had never had to provide for previous loans with Quicken. At time...

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What is Quicken Loans?

Quicken Loans is a nationwide mortgage lender. The company offers mortgage loans and home refinance loans, giving customers the ability to complete the process entirely online. Those who would rather apply over the phone can speak with a company Home Loan Expert. Quicken Loans services 99% of its loans, so borrowers work with the company from the time of their application till they pay off the loan.

Quicken Loans services

Quicken Loans specializes in mortgages and refinancing services. When you apply for a home loan or refinancing — whether it’s online or over the phone — Quicken Loans shows you loan options along with rates and costs. Customers can choose when and where to close on a loan. Loan types include the following:

  • 30-year fixed loans
  • 15-year fixed loans
  • Adjustable-rate loans
  • FHA loans
  • VA loans
  • Jumbo loans
  • YOURgage fixed-rate, custom-term loans
  • Refinancing for cash, lower payment or shorter term

Quicken Loans FAQ

What does your credit score need to be for Quicken Loans?
Quicken Loans has a general minimum FICO Score requirement of 580. The lender requires a minimum FICO Score of 620 for conventional loans and VA loans.
Does Quicken Loans do personal loans?
Rocket Loans, which is related to Quicken Loans, offers personal loans for vehicle purchases, home improvement, debt consolidation, traveling and just about any other purpose. Apply online to find out what offers you qualify for without any effect on your credit score. Funds are available as soon as the same business day.
What kind of loans does Quicken Loans offer?
Quicken Loans offers mortgages, reverse mortgages, refinancing and personal loans. You can get most types of mortgages through Quicken Loans, including a custom-term, fixed-rate loan lasting from eight to 29 years.
How much does Quicken Loans charge for closing costs?
Quicken Loans’ closing costs depend on the loan type, the type of home you’re buying, where your home is located and other factors. Expect to pay 3% to 6% of the purchase price.
Where is Quicken Loans located?
Quicken Loans’ headquarters is in Detroit.

Is Quicken Loans good?

Quicken Loans is one of the most widely available online lenders. Through Rocket Mortgage, it offers a completely online loan application process, which is convenient for those who don’t have time to visit a bank or financial institution. We think it’s worth considering for most types of purchase and refinancing loans. Keep in mind the company doesn’t offer USDA loans, though.

Quicken Loans Reviews

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How do I know I can trust these reviews about Quicken Loans?
How do I know I can trust these reviews about Quicken Loans?
  • 3,304,235 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 - 5
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: July 14, 2021

Responding to the requests for supporting documents seemed neverending. A list of what was needed should have been known upfront, but I was constantly receiving a request for additional documents. For example, I was asked to provide insurance coverage for a small lake home worth about 250k. Why I would need to document that is unknown to me as it has no bearing on my ability to refinance a note. This is all the more surprising because I'd been paying off a much higher loan for about 18 years and even prepaying much of it so my ability to pay should have been evident.

I realize that there are a lot of hoops you have to jump through, but if those hoops are present, then they are known and I could have been given the entire list of documents needed from the first. In all it took over a month to get everything ready and I have a good credit rating and backup documents. I can only imagine how long it would be for someone with moderate or poor rating. All of this would argue against the advertised claim that applying for the loan is quick and easy. Otherwise, the people were all great. They simply have to work around the policies.

2 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 8, 2021

    I had a wonderful team. It started with Rami, who took my application over the phone when I called after 8pm. I was immediately approved to match what my employer only would approve me for. Then he asked a profound question, "is that all you want"? I was dumbfounded, because my employer made it seem like I didn't qualify for more. Rami asked me to send in income info and had it reviewed by an Underwriter. In 24 hours, I was approved for $40k more....MIND BLOWN....

    Once my offer was accepted, which was on a Saturday, I called Rami. He not only answered the phone on a Saturday, but he had my fully signed contract and on Sunday called me to go over all my closing costs, payment, intetest....the full term of the loan. The music to my ears was he was also able to give me a closing date.

    Soon after that, maybe on Monday, I received a call from Alicia **. She introduced herself, provided me with all her contact information and told me she would be my point of contact until the loan was ready to close. So that I wouldn't be blindsided, I asked if there was a time frame that I had, to ensure my loan closed by the date I was given which was June 21st. I was informed that as long as I had all the Underwriter conditions in by June 16th, that closing date would stand.

    Alicia was sooooo awesome. She took me by the hand and held it as long as I needed her to. I had, what seemed to be a billion questions and she was gracious enough to answer what she knew on the spot, then called me back for things she wasn't able to answer immediately. There were times that I called and she was out of the office but her team would call me back right away to service me in her absence. That was a wonderful touch. Your teamwork is impeccable.

    There was a changing of staff during my process, but it was seamless. My new Loan Officer contact was now Jacob and he was very instrumental in helping me understand all my numbers on my closing disclosure. Then my file was transferred to the closing team and they got all the final numbers together for me. They went over everything with me to make sure I had a clear understanding of the numbers and how much money I needed to bring to my closing. The entire process was painless. I appreciate Quicken living up to their name. I will share my story and recommend Quicken/Rocket to everyone and anyone who will listen. Thank you for helping to make my borrowing/buying process such a wonderful experience. I'm loving my new home.

    Sincerely,

    Lisa **

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 21, 2020

    I closed on my refinancing December 4, 2020. I had an overwhelmingly positive experience with Quicken, thanks to Geoff **. I should explain upfront that I am bad with numbers and can also be rather high strung, so I am basically a nightmare for anyone attempting to assist me with financial matters. I originally contacted Quicken when I discovered that my younger sister was getting a lower interest rate on the house that she was buying than I had on my own townhome. Petty, probably, but irksome, nonetheless. I mean, it’s my baby sister!

    I could hardly contain my shock and excitement when Geoff told me that I could go from a 3.75% interest rate to a 2.25% interest rate with Quicken. I had checked with another company previously (Better Mortgage, who tragically did NOT live up to their name) and they had generously offered me an interest rate that was .005% higher than the one I held. I imagine that sorting through my information and finding me a good deal was pretty standard operating procedure for Quicken, but as I said, I am hopeless with numbers and indeed, can quickly become overwhelmed. Geoff’s true trial began in earnest once the ball got rolling.

    Geoff strapped on his sword and found solutions to every single issue I had, and to every problem that I hurled, metaphorically speaking of course, into his lap. He fixed everything from frustrating lack of response from the title company, to making sure I had low closing costs, to scheduling a dual closing with my spouse who lives two hours away.

    He would call or text me practically immediately after I contacted him and was pretty much the Jen Whisperer in getting me to understand what was going on and not panicking about it. Every single time I contacted him (up to and including the day of closing) with a serious problem, his answer was an immediate, “That’s not a problem. Here’s what I’m going to do.” He is friendly, knowledgeable, and I must say, he has a fabulous sense of humor. I find that that in these strange and uncertain times, someone with good humor is difficult to find, but also, that someone with good humor is necessary to make it through 2020 with one’s sanity intact.

    I hope that you will consider all of this when Geoff’s next review comes due. I truly believe that this deal would not have gone through if it had been assigned to anyone else. Since I know how flibbertigibbety I am when it comes to stressful financial conversations and he calmed me down every single time I was upset, I wanted to make sure that you know Geoff has some seriously superb customer service and people skills. I am exceedingly grateful that Geoff does such an amazing job and most importantly, that he was assigned to me so that I could benefit from his excellence. I cannot overstate how awesome he is. PS- My interest rate is, in fact, now lower than my sister’s.

    8 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 2, 2020

    I had no idea that refinancing my mortgage could be so painless; had I known, I would have done it sooner. I honestly cannot speak highly enough of Brian **, who handled my re-fi from start to finish with professionalism and class. I had so much going on at the time, and I had been receiving calls and voicemails from Quicken Loans that I mostly ignored. When I finally returned one of the calls, it was with a bit of an attitude!

    Enter Brian **, who completely diffused my impatient attitude and had me smiling and laughing by the end of the call. He was so helpful and just so genuine; I am not an easy person to win over, but I was really impressed with the level of customer service Brian provided. Calls and messages were returned promptly, and he always did exactly what he told me he would do; I never once felt even the slightest bit inconvenienced. Brian had everything handled, and I felt completely at ease throughout the process. If only we could clone him! That kind of service is what gets you referrals and repeat business; I don’t see how this experience could have gone any better. I have already recommended Quicken Loans to friends and coworkers.

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 29, 2020

    From the application and through the closing to the download and printing of all the paperwork I am pleased and impressed with the professional and seamless transition every step of the way,---with one aspect---setting the first day of every month as the same time each month for scheduling auto-pay. I keep getting told that auto-pay will occur 30 days after the first of December 2020 and every 30 days thereafter which is not what I was told I would be able to do after my loan closed.

    When I did the math I realized the next (second) payment would be on the 31st of December 2020, followed by January 30th 2021, followed by March 1st 2021, then March 31st, then April 30th 2021, then May 30th 2021, then June 29th 2021, then July 29th 2021 and this brings me to my main concern--I receive my VA benefit on the first of each month and if I cannot make the first of each month as the same time each month for auto-pay to occur then what are my options to make my mortgage payment each month so I can pay on time and never incur a late charge therefore maintain a good credit history. Please advise, thank you! Ken **

    13 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 30, 2021

    Tim was our personal banker and we cannot stress enough how fantastic he was! He went above and beyond to make this mortgage happen. He made himself available to us and the sellers, who at times were not the easiest to deal with. We would recommend him to anyone at any time.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 30, 2021

    It was fast and easy to understand. Both the agent I worked with on the phone and the one I signed the documents with were very efficient. I got a great. Low interest rate and saved about $800/month in mortgage payments.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 30, 2021

    The people are the best part of Quicken loans. Very attentive and helpful. Their app and website are very fast but sometimes lagging a bit on more up to date information that you can get when speaking with their customer service people who were very helpful and responsive. Noted the closing portion the app forwards you their web page instead of integrating with the app directly and and another site for their closing agent Amrock. If you have questions Amrock and the Quicken support people were very helpful..

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 29, 2021

    We found this process of refinancing our home very easy this time.. Tried in the past and was so much work but was able to get help with the paper work so were able to do lots of it online without leaving the house.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 29, 2021

    Working with Rocket Mortgage was a great experience, they kept me informed throughout the entire process. I would highly recommend them to all my friends and associates. I really appreciate all the help they have given us. Thanks again for being a great company.

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    Quicken Loans Company Information

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