Quicken Loans

Here was the problem with Rocket Mortgage and Quicken Loans in a nutshell. We are going to purchase the home next to our current home. So here is what I was told. In order for us to purchase the home we have to get a divorce and provide out divorce information to these people or we have to sell our current home and find somewhere else to live until the home we are purchasing has the upgrades installed due to medical conditions. Since I am neither going to divorce my spouse or sell my current home and live on the streets until the house is ready for us to live in they could not give us a loan.

Started a rocket mortgage re-fi application to pay off my daughter's student loans - - after a full process I got an approval, but the rate was more that 1.25% above current market rates - a total rip off - and their hard pull reduced my credit score by 5 points!!!! I have a 750+ credit score, D/I under 34%, and more than 20% equity in my home... Total predatory lending and misleading... Don't get on a rocket for anything, it just might turn into the Challenger. There's definitely an O ring missing with this outfit!!!

Shocked to discover all the dishonest statements made by their agent. Parsing his statements their “low cost” mortgage included more than 4 points in “mandatory fees”. Completely dishonest and unscrupulous.

4 months going back and forth, lost faxes, just as you think you're on the home stretch they want something else, they are 5 days behind so when you submit a document it just drags on. The multiple reps don’t read the documents thoroughly so that holds up the process as well. After 4 months of this and that, the rep calls with a cashout proposal then says sorry he can't, then says I can’t qualify due to debt to income ratio. They don’t understand rental property has income. Go to a local bank and do yourself a favor.

I only called to inquire as to what's available. I said I'd only do a refi if I could pay off certain debts. When I give them my estimated value of my home the guy keeps trying to get me to say it's worth more but I refused, I thought it was weird how he kept pushing that. I give my info and I get a callback, "Congrats, not only can we lower your rate we can pay off all your debts too! Would you like to proceed!?" I said, "Of course," if you're saying I can do all. I said I wanted to and he said, "Yes, all we need is a $500 'good faith deposit' for the appraisal." I agreed under the terms this guy told me. So the appraisal gets done, and actually comes in a few thousand higher than I had estimated. I log into my Quicken account to look at the new terms and not only is the monthly payment higher than I was told but now it says I will be getting about $3K less to pay my other debts than what I was told.

Let me start by saying I have obtained 3 mortgages with Quicken Loans, and currently have one in good standing. I've recently referred 2 people to them who have both obtained mortgages. That being said, I decided to do a cash out refinance and combine a couple of other high interest loans together into a lower rate. The process started out typical..$500 deposit for start up costs and $610 for appraisal. The loan was a 15 yr conventional. I reviewed the first closing disclosure breakdown, and noticed a 2% funding fee, and the rate was a percent higher that the typical 15 yr rate.

Please, do, go to Quick Loans if you want:

They intentionally underestimated my loan payments until it was too late. They charged me $1000 in a refundable deposit, but it doesn't get refunded if you don't go with them. So, by the time I found out my real payment, I was on the hook for $1000 to them and an additional $3500 earnest money to the home seller. At that point, I couldn't leave. They made wild promises and didn't meet them. They missed closing date 3 times. They shuffled me from person to person, each one requiring a ton of my time to bring up to speed. They didn't seem to read my packet. They claim to make the process easy, but it's only easy until you can't leave. Don't ever use Rocket Mortgage.

They put you through the wringer. Same thing over and over. Make it very hard to do business with. They make you feel dumb, talk to you like you robbing a bank. They really put the screw to you. They act one way. Do something else.

I've never bought a house before and I've been helping my mother with the process. Definitely not easy, and going through Rocket Mortgage, has made me wanna pull my hair out. At first, they were very enthusiastic, called multiple times, wanting to help, get all our information. And one week, turned into 2 months, and we missed out on 3 houses we were interested in because the banker here kept saying he was "missing" paperwork from us. Even after we sent him everything he asked us for more than once. He became unreachable by phone, even telling us he was extremely busy. Our realtor advised us that he was stalling us and that he couldn't give her a good faith estimate after she asked him multiple times. So, after all this hassle we decided to get a local lender, and we will be closing in 10 days. Do yourself a favor, stay away from this place!!