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My husband and I attempted to refinance with Quicken Loans to have cash out to cover some other debt. Right from the beginning they do push to get that deposit like so many others have stated in their reviews. On top of this, their closing costs are extremely high! I don’t care what your credit score is, if you qualify to get a loan from them it shouldn’t be more than 2%. We were only looking to refinance around 112,000. They wanted 6,000 in closing costs! That is not including the amount they need to also fund escrow with, so closing costs were going to be in the 7,000 range. The appraisal was done and the value is 108,000.
Now we cannot move forward and now they are stating the “actual” appraisal fee is 525.00 and the credit report was 57.00. Called and asked for the deposit back and we are being told they have to investigate the calls, emails, etc... I already know it’s never going to happen like it did to so many others. Please, please people, go to any other company. All they want is a quick 500.00 off of you and charge you outrageous fees.
Was refinancing by a court order to pay off ex-husband and put mortgage in my name only. Quicken Loans reviewed all of my income, credit report, etc. and wanted me to pay a $500 good faith fee. I asked if they were sure this refinance would go through since I am a single mother and I can't afford to be scammed. The loan officer assured me that I was preapproved and it would go through. I was upfront and honest from the beginning and they were not! Veterans do not be scammed and stay away! The Closing Costs increased substantially and in the end, costs were at $28,597 and part of this was for me to give them $8,000 Cash to Close on a VA Loan! VA Loans do not require out of pocket cash.
I questioned this and two days later the Loan Officer with Quicken Loans put a letter on the "RocketLoans" message center saying I was denied for not giving them my son's paycheck stub to them. Really? Not even a phone call with some type of discussion. Now I have lost $500 and have to start all over with another loan company. Don't waste your time with Quicken. Now, I am out $500 and the time I could have spent closing with another mortgage company. Stay away from them and don't get scammed like I did.
My wife and tried to work with organization to try and keep our house. Went into forbearance then foreclosure. The reason we could not continue to pay on our house was due to health issues. Now most people say take care of that first which is what we had to do. While we going through all these health issues we lived on EBT and had to scrap and sell things to buy items that only can be bought by cash. We came to realize we were not going to keep our house and Quicken did offer us 3000 dollars if it was broom swept which at that time were not able to do due to our health problems.
My wife is now determined to be disabled and I was turned down from collecting social security because we are common law married which I do not understand. Now we got a court notice to get us out. They did not give us the offer they first offered and have had us evicted with absolutely no place to go and not enough resources to do so. I am 60. My wife is 58. She has seizures and now has a broken foot from one of those seizures therefore I have to pack up 22 years of stuff by myself because she cannot do much. I've had 2 heart attacks and 1 stroke.
I find it amazing that a company of this magnitude would even stoop to such a low level and that our so called judicial system is really working for rights. Sadly still looking for a place with our deadline approaching. Big company like this putting old people without a place to go should be ashame of themselves. They should have made a last effort to help, we've put 40,000 into that house over those years and a lot of hard work, and this is how you'd like your company to be remembered.
My spouse and I contacted Quicken Loans for a refinance of our current mortgage. We were told that we only qualified for an FHA loan. They were extremely pushy about us paying the $500 for the appraisal and warned us that if we didn't pay as soon as possible that their offer would expire. We contacted another lender and easily qualified for the conventional loan we wanted. This lender was very confused as to why Quicken would only offer an FHA loan. We called Quicken and told them that we had found another lender and would be doing a conventional loan.
Quicken told us they would review our information again and see what they could do. However, when they called back, they still insisted that we only qualified for an FHA loan and acted as though they didn't understand how another lender would approve us and suggested that this lender had made a mistake. They said "no one" would do a conventional loan for "such a small amount" ($50K) Then, she LAUGHED at us. She said "Well, if (the other lender) thinks they can push this through as a conventional loan, more power to them, but don't be surprised if everything falls through at closing." (Our closing went JUST FINE. We paid off several other loans in addition to the mortgage.)
This is deceptive practice and predatory lending. They were trying to scare us into the FHA loan because it is more profitable to them and there are more fees involved. The FHA appraisal is a very complicated process and Quicken offers NO REFUND if your home does not pass. I have filed a complaint with the CFPB. People could be easily swayed by these pressure tactics and lies, these representatives present themselves as professional and knowledgeable. The public needs to know what Quicken is doing.
I recently refinanced my house. I received a call a few days later from my insurance provider stating that my homeowners insurance policy payment hasn't been made. When I called Quicken they stated there was an error on their end and it should have been paid at closing but wasn't. They were sorry but now my options are I have to come up with almost 3000 more out of pocket or my monthly payment will increase over 200. Well I suggested they make the payment out of what I paid them for closing since it was their mistake, I was told they wouldn't make the payment for me.
Wow, can we say it feels like bait and switch? After reading some of the similar reviews with the same issues it makes me wonder why this is happening. Isn't this their purpose and what they do? "Engineered to Amaze" right? Now I have had other mortgages with them and over the past few years their quality has noticeably declined. Their attention to critical details that I am paying them for is not customer service satisfaction. Just be careful as you choose a mortgage company.
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After getting placed with a few other folks at Quicken they were able to resolve this issue. The resolution team I spoke with were very pleasant and did a great job helping me out.
Quicken please make sure you give FULL details when asking for someone to satisfy an auto loan. The quality of life excuse needs to be told upfront.
I am currently in process to get a loan with Quicken. I am also a current Quicken loan customer and have been so for nearly 8 years. We are trying to get a new home as we have sold our current home. I have a conditional approval with only 1 stipulation to pay off a current car loan as we are over the debt to income ratio. The car we sold was a show car, not a daily driver. We still have 2 other cars plus I have a company car as well. I provided a paid in full letter from the lender as directed. Now 7 days from my current home closing they told me they cannot take the debt off because I sold the car. How else would you satisfy a loan on a car?? Their rationale on this is they say it’s a quality of life issue that the car was sold. Say what??? Not sure here but I don’t know if it violates lending laws by using the quality of life reason.
I have pushed back and hope to get an answer tomorrow. As if the loan doesn’t get approved I will have less than a week to find a place to live and potentially lose $5000 in earnest money. At no time was I told not to sell the car. I was told to satisfy the loan and any reasonable and prudent person would do so by selling. If any attorneys are on here please help me out. Not only could I lose my earnest monies, now I will have to rent which is throwing money away as I have 7 days to be out of my current home as it has sold. So now I have to rent which is even a bigger issue for me. Quicken has always done well for me in the past however this time seems very deceptive. All of this is documented on their website and or emails I have. Let’s hope it goes through but if not legal action will take place.
If you're a Veteran stay away from these crooks. They just recently got in on the Republican Tax Scam, the grand old party. Their taxes have been cut to nothing and yet they want to stick the Veteran. I have a rate of 2.3 and called to refi and it's now 4.5 for Veterans. The people who service your loan are all but kissing your ** and telling you how great they are and how much you will save. Lies. All lies. I just wanted 15,000 and they were going to charge me 11,560 to process the loan. That's how they treat Veterans.
Make sure you read every damn line from these jerks. They will rip your ** off if you if you served your Country. I cancelled and now I am being harassed by them out of Detroit. Hope I don't have to take my Marine Corp ** up there. So beware Brothers they are not looking out for us. They are greedy as Hell and only want your money. Got to run so I can make sure no other Veteran gets screwed. Semper FI.
We decided to NOT use Quicken Loans! Graham ** was extremely difficult to work with and he was deceiving and vague in providing answers to our questions regarding interest rates and origination fees. This does not bode well for Quicken Loans having someone that is not open and honest with their customers. We found another loan company that is providing us a loan on our property with NO origination fees (Graham ** wanted to charge us a 1% origination fee), an interest rate of 4.25% with NO points (Graham ** was providing us a rate of 4.825% with no points), and has been VERY easy to work with (we complete the loan process in 24 hours). We were extremely disappointed with our experience with Quicken Loans and Graham! We would recommend that Graham ** receive additional customer service training and education on how to be open and honest with customers.
Got the runaround. Very misleading. They didn't bother to mention that you had to have the 5k+ for closing costs and you cannot roll closing costs into a mortgage (which on their site you can) or they told me a seller cannot pay 100% of the closing costs, which is BS. I struggled to get my credit score to a level for financing and they shot it down with that. Consumer beware!!!
I have my loan with Quicken - however I am still paying P&I - but I have a great rate, so I guess it balances out. I have had my loan with them for 3 years and everything has been absolutely wonderful until the last 2 months when someone from their company decided the best thing for me is to refinance to get rid of my PMI. That is fine to make a courtesy call, but instead - I get about 15 calls A DAY from different people with quicken (Like it is a race to get to me). They were calling all day while I was at work, over and over - finally they catch me after work and I got a lady name Frances. She was EXTREMELY pushy - totally bullying me into letting her run a credit check - pretty much just telling me she is doing it. Then, the results are back - my rate would INCREASE by 1% and that is if I PAY to get this great rate. I told them, "NO THANK YOU" as politely as possible, however she wouldn't take no for an answer.
So, I sent an email - she STILL continued to call me over and over again. I never answered the phone - then last week I received LOAN PAPERWORK! I was pissed by that point and called to complain - the person on the phone that I complained too didn't seem to care and just listened and never gave any resolution. Well, I thought they got it by that point and I went for a week with no calls, however today - I got called again - they left a voicemail (different person) - saying "Hey, heard you want to refinance". Now, that was exactly two hours ago and my phone just rang again - same number. I'm going to be looking for another loan company now. This is ridiculous!
We decided to refinance our mortgage with Quicken Loans to get away from a very incompetent mortgage company (Seterus). We were so desperate to get away from them that we spent $9,000 to refinance with Quicken Loans. Not even a month later and after spending $9,000, they sold us right back to Seterus. Now that is shady business!
The loan process went incredibly smoothly with closing in 30 days. Loan consultant and supporting staff were very responsive to queries. Administrative staff was highly skilled.
Very easy to deal with. All my documents were uploaded & reviewed quickly. Everything was approved & I closed earlier than planned. They have been easy to deal with for storm damage repairs as well.
I decided to refinance my mortgage with Quicken Loans to lower my monthly payments (escrow included). I was contacted my insurance company and told that Quicken Loans did not pay the monthly insurance required to have the loan. When I contacted Quicken Loans they apologized and said there was a human error that they will not be starting to pay the property insurance until next year and that I will have to either come out of pocket with the additional payment or my escrow amount will be short. I explained to Quicken Loans/Rocket Mortgage that my refinance was suppose to lessen my monthly mortgage payments and I would not of agreed to refinancing that raised my principal by $5000.00 and my monthly payments by about $45.00, they said they apologized, it was their error but there is nothing they can do at this time.
My experience with Quicken began when original loan with another mortgage company was an 80/20 loan and the balloon was about to come due. Quicken process was easy but still felt that it wasn’t quite kosher in the total process and took advantage of my predicament when I was a good credit risk. It seemed easy but still had some fast talking going on from their end. Wish the local bank would have been more helpful instead of having to do the Quicken loan.
I was trying to establish a new loan with Quicken Loans and have had the WORST experience ever. The representative I was working with was rude and a bully. He treated me like a dollar sign instead of someone making the most important and costly purchase of a lifetime. Not only did he not care about how I was feeling during the process, when I had the opportunity to speak, he did not listen to my concerns. Although my first experience, 4 years ago, was fantastic, Connor ** and Heather ** have no desire to ensure that Customers are comfortable with the home buying process. Please note that I have been working with Quicken for weeks and am approved for a loan. I was not rejected or turned down. I decided to take a loan that will be more expensive because Quicken treated me so poorly.
We have had 3 mortgage companies in 31 years. Quicken Loans is by far the best. They have great customer service and check on us often. If needed we will use them again.
My new mortgage experience began with one fellow, changed to another fellow and ended with yet a third fellow - none of which were able to close my loan as scheduled. They appear to be too large of an organization to communicate well so there is a huge lack of personal guidance and assistance through this process. I've purchased homes before and still had problems so I can't imagine what a new home buyer would go through. The last week before my close the wheels fell off because they were charging me $12,600 in closing costs - what??? I had actually refinanced a home with Quicken in 2010 and was told then I would have NO closing costs from Quicken but apparently that offer went out the window.
That was the reason I came back to them for this home but they reneged on the deal. I was even dealing with a director the last two days and things still got screwed up because of lack of attention to detail and communication. In the end I had two people telling me two different things and totally screwing up my closing and move which created a domino of issues with the cable installer, the handyman scheduled to install blinds, etc. DO NOT USE THIS COMPANY! Find a banker who will help you through this process you can deal with from beginning to end.
Applying for FHA Loan. Had bankruptcy that included SBA Loan. This red flagged my application. This does not show on credit report from TransUnion. Denied loan even though had letter from SBA stating that I am eligible for other loans from government other than SBA according to United States Code. Quicken says they have their own rules other than those set forth in the United States Code. In other words, government code is not recognized by Quicken. Appears to be a violation of US policy by a private company. Small town Midwest bank has no issue with this scenario and has approved my loan. Quicken is full of themselves.
I financed my house with Quicken and then refinanced a few years later at their suggestion. They provide online service that answers 95% of all questions and when you need help you can call or email your agent and I have never waited more than an hour (if I email) to get a response. They are proactive about upgrades or help in changes that maybe beneficial. All of us have dealt with cell phones, tv, internet etc that always provides perks to the new person to sign up but not to the individual that has paid for years. Quicken has grown because of the service.
Process was supposed to be online, did not like the phone calls after being approved, representative insisted that they set me up with a real estate agent. This was the last straw, did not go through with the loan.
I'm looking to refi my house mortgage and called QL. To make a long story short, the guy on the phone: Casey ** was rude, would not help unless I gave him my SS # which I told him I would after seeing first what they could offer. I told him I would provide all the info they needed and my Credit score which I know with accuracy as I pay services that provide me my current score. Anyway, he wouldn't work with me unless I gave him my SS#. Well, I said, "Thanks, but no Thanks." Then a lady by the name of Jessica ** calls me a few days later and here we go again, same manners, same story. When I said I would call her later to make sure my husband was ok with me providing his SS #, she simply hung up on me. And then SENT me an e-mail wanting to do business. Really??? Worst Customer service ever, very unprofessional. I'm so glad I didn't do business with them.
Quicken has proven to be relatively easy as on option for mortgage - HOWEVER - we have great credit, a strong mortgage to appraisal ratio and stable income. In short, we are pretty good customers...
An endless series of questions and answers and questions. Poor internal coordination and lack of adherence to their own guidelines. No sense of scale or schedule needs. A low ball operation to be avoided.
I have a mortgage with this company. Sent in a payment. Made a mistake on the check by 22 cents. They sent a letter wanting me to pay 21 dollars and a threat about my credit. These people have become greedy and made a serious business mistake in that they will never get my business again. Let's do the math, they make $21 and lose thousands because I will finance with someone else and tell as many people as possible to stay away from this company.
They are pretty easy to work with except when you want to talk to them about re-fi. But they don't seem to want to deal with re-fi on a loan when it gets down to the lower amount owed. I have been with them for about ten yrs and they don't want to mess when they can't make money. My next loan if ever will not be with them.
Before anyone decides to pick Quicken as a lender make sure you read this. I fill out an online quote. I received many calls from very sweet and caring women. Four to be exact. Passed very quickly from one to the other. When I finally spoke to that person that goes over your credit score and tells you what hurdles to overcome and you do whatever is needed to get ahead of these hurdles. Then they ask for $$$. That’s when you never hear from any of the previous contacts there. Then they tell you about getting an approval for buyers. Then someone else calls telling you what’s this and that on your credit report. I responded by saying why is this coming up now after I paid you money. Why didn’t any of the previous associates say anything and made everything sound like all was well and good. I was told this is FHA regulations and policy. I asked for my deposit back and never heard from anyone. This company is terrible. No one knows anything and they unethical and are not worth dealing with. By the way my credit score was 670 and only needed to be a 620. BEWARE!!!
I was hoping to discover the "Bottom Line" refinance details at the end of the questionnaire and there was nothing but a phone number. I had no interest in talking to an agent, rather I merely wanted the results without having to endure a long conversation.
This company has different sales people call me EVERY single day trying to sell me a loan. My voice mailbox is completely full with their calls. 30 to 40 calls from them in my voicemail that I have to delete one by one. If I haven't answered after 40 calls why are you still calling me??! If I ever need to refinance my home loan I would NEVER use them. I don't even know how they got my phone number or who they bought my phone number from. They are so unprofessional and annoying. Any legit business would not stoop to the bottom of the barrel with nonstop unwanted sales calls. Why go through a company that is that desperate for sales???
We were refinancing our $250,000+ home in Chesapeake, VA. We had never missed a payment nor been late. They told us to submit $500.00 for an appraisal. The appraisal was fine. However, because over 7 years before I had to file bankruptcy due to a bitter divorce that I, the one with the (only) income was forced into through court orders regarding payment of bills and support for my 4 children and ex-husband, Quicken Loan refused to let us go forward and refused to refund our $500.00. This despite the fact that we had received a very large line of credit, and refinanced our house already. Additionally, I bought the house for $200,000.00 just 2 years after the bankruptcy with a VA loan.
Quicken Loans expert review by ConsumerAffairs
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.
Quicken Loans Company Information
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