Quicken Loans Reviews

As an organized person with a real estate background, I appreciated how Quicken’s website clearly spelled out the necessary information. Even if you're not familiar with the process, their site guides you through each step, ticking off tasks as you complete them and keeping you updated throughout.

I did encounter an issue with the appraisal values and square footage discrepancies, as they differed from a previous appraisal. When I communicated my dissatisfaction to them, initially, they couldn’t use a new comparable property evaluation due to timing constraints. However, upon threatening to take my business elsewhere, they honored the original loan offer, which was satisfactory.

Overall, I would rate my experience a 4 out of 5. While the service was mostly positive, the appraisal issue was frustrating. No service is perfect, but Quicken managed to address my concerns to my satisfaction. I would recommend their service to anyone looking for a guided experience and good pricing. Choosing Quicken helped me consolidate another loan, making it more manageable.

Things are coming down. That's the one thing. I didn't even really wanna do the refi but the rep said I was probably better off doing that because I'm gonna go through the same thing for a home equity line of credit. That's gonna be tied to my house and if I default on that, they'd take the house. It doubled my mortgage payment. But I was paying like $1,100 just for the two of the credit cards. So, it's okay.

The annual percentage rate was decent. I did a consolidation of high-interest credit card debt that I had gotten in over my head as a single mom with two jobs and two unpaid maternity leaves during a pandemic. And I had been having times of putting groceries on the credit card because of that situation. I needed to get out from under that in a way that was financially more viable longer term. And Quicken was able to help me do that. My interest rate is still high, but not terrible. And in the long run, I'm gonna be able to pay off the amount I was in higher.

I was also comparison shopping Quicken with those companies that will get you some credit card debt forgiveness. You have to close your credit card accounts between asking for some of your debts to be forgiven and closing accounts and that had an unpleasant impact as far as I was concerned on my credit score. Since I was able to make the monthly payment amount, I was better served by just consolidating into a lower interest rate, lower monthly payment, and then paying more towards the loan that I'm required to. I'm paying more than the minimum payment because I'm basing it on the payments I was making, trying to get ahead of the high-interest debt. So, that my day-in, day-out budget didn't change that much, other than having just a little more wiggle room.

Quicken’s reps listened to me. They were able to help me think through my options and presented me with a solution that I was looking for, to take into account different complex factors in my financial life to make sure I could preserve and improve my credit score while also getting out from under some high-interest debt. I was overall entirely happy with how they took care of me. I was very satisfied with the services and I'm in a better place now because I worked with them and they made it feasible. They had somebody come out and meet me at 8 o'clock at night, because I work a crazy schedule, working two jobs with two toddlers. So, for the one part that needed to be done in person, they sent people to my house.

There was a glitch when I settled that day and when I called Quicken, I got a response right away. They got a different person for me and we were able to proceed with settlement a couple of hours later. Even when I needed to reschedule my settlement, and I wasn't that good in using a computer, I chatted with somebody and she helped me through it. I also chatted with somebody when I had to start my online payment, and she helped me through it. I don't have a lot of online experience in doing a lot of stuff. So, being able to get somebody that was patient and helped me was really awesome. It was such a positive experience.

The rep told me they would get it straightened out before they closed the loan but that wasn't the case. They closed the loan. They sent me some checks and I had to mail out all these checks for all my debtors. I had a negative 5,000 balance and I had to wait some weeks for that to clear on their side before they sent me my money back. I was expecting them to rerun my credit to show that I no longer owe these things so I wouldn't have to pay them and that didn’t happen, so I was a little bit disappointed in that.

I never even gave him that amount. But he went ahead and quoted me $50,000 more than what I told him to. So I was extraordinarily frustrated with that. He said, "Well, if we can buy down your debt-to-income ratio, then we can -- so essentially, from the funds, we'll just pay down the the debt first. And then we can get you a lower interest rate." But he never did any of that. I have this interest rate which is 2% higher than what he originally quoted me.

We're gonna go through with it because we need the finances. We need to get this stuff done on the house. But it was very frustrating that he was not as transparent. He just wanted to get a sale. In all honesty, I probably won't use Rocket Mortgage again from that negative experience. Nobody was being honest and forthcoming about how it works. This was our first time doing this and then he didn't tell me it was a second mortgage. I was under the impression it was a HELOC. He was inappropriate. But when I had to call Rocket Mortgage for closing, everybody was extraordinarily nice on the phone. Even though the website glitched, they fixed the problem within 24 hours. I like the website to see the progress of the loan.

I secured a mortgage loan and was also offered the flexibility to refinance with potentially reduced closing costs if future rates decline, which I found quite appealing. All in all, my experience with Quicken impressed me with its consistency. I'd definitely recommend Quicken to anyone considering their services. Their customer service was exceptional throughout, and navigating their website proved straightforward, adding to the overall satisfaction of the experience.