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I filed an initial application with Quicken, and we locked in terms. Ultimately, I withdrew my application and proceeded with another mortgage company. (The Quicken loan officers sounded a lot like used car salesmen.) Quicken kept calling to ask for a second chance. After being assured at least twice that the terms would remain the same as our original deal, I agreed to work with Quicken again. After much more wasted time, I rec'd my docs to sign and discovered on one small line in the middle of the documents that the points had gone from zero to one full point (a $2100 difference).
The first response was that it was just a reclassification of expenses and totals would be the same as the original deal. Was an obvious lie, and they finally admitted that the market had changed. I was told in essence that what they said in selling the deal didn't matter so long as the documents were accurate. In other words, they'll say anything and hope you trust them without reading the docs carefully. It's difficult to be on constant alert, so it's best to use a mortgage company with integrity. Like a lot of politicians, Quicken appears to believe truth is whatever they can get away with.
Consumers, please shop around for different lenders. My credit score is in the high 760s. I have zero debts, except my home. I thought I was the perfect candidate to refinance my home. You're their #1 priority and have several associates handling your emails, documents, and calls---until you're no longer a candidate. I provided all documents the same day I made my first call. I was on the phone for at least 3 hrs providing information, sending attachments and filling out the application over the phone.
Simultaneously, your credit is being assessed and there's a lot of undercurrent activity so that things move along and closing is completed timely. In the first hour of my conversation, I mentioned that a year ago, I had co-signed a car loan but the other co-signer was paying it. I was able to provide proof that the car loan monthly payments were coming out of someone else's bank account. The bank provided a statement with direct deposits from the other co-signer's account. According to Quicken Loans, also called Rocket Mortgage, 12 consecutive months of the same monthly payment could not be seen in the proof I provided. Well, the co-signer had taken advantage of a Christmas 'skip a payment/lower payment' option and therefore, the December payment was not consistent with the usual monthly payment.
For that reason alone, I was denied the loan. Are you kidding me? Then you're going to be denying a lot of people for that reason. Here's my beef: I was asked to pay for the appraisal ($500) immediately. The people handling my application all knew about the payments and that December looked different, yet they continued with the process and didn't say anything to me about a probable 'non-approval.' They let the process continue and me pay for an appraisal.
A couple of days passed after the appraisal, that by the way came back favorable, so there was equity in my home. All that time waiting to hear back the status of my loan without anyone calling or writing me to tell me I was not approved. So, I had a excellent credit score, great credit history, a home with substantial equity and I was denied a loan because I didn't have 12 consecutive months of the car loan someone else was paying. I tried to fight it, but some ditsy idiot from 'upper management' bullcrap called me with a condescending tone, telling that she 'would look into it' to see if I could get a refund.
Quicken Loans has a policy of reimbursement of up to $500, or something to that effect, if you are not approved. However, this is a play on words because they talk about other expenses they have, which do not get reimbursed. So the point is, you just lost your money. There is no way to win. They knew early, based on the evidence I provided the first 48 yrs, that I was not a candidate because of their rule regarding 12 consecutive payments. Yet, they allowed me to pay for an appraisal that I cannot use anywhere else, and refuse to reimburse me.
I tried to appeal, but it brought me back to Ms. Condescending Casssie, who was a brick wall and only pretended to 'look into it' when she was just killing time-only to come back with a 'no' response. She said she listened to telephone conversations and read texts of me sending information to the people working with my case. But yet, she came back stating that she could not see any evidence of what I was claiming. Of course she didn't.
Bottom line, everyone should know the criteria needed to move forward with a loan, not just the underwriting staff. They do not speak to each other to know what a candidate has or doesn't have in order to get approved. Someone in underwriting, so he said, named Mike or Mark, said I didn't qualify from the very start, he was just trying to find ways to get me approved. I said, 'What?!!" So, why didn't anyone advise me? Instead they led me on. Now my credit score was affected due to the hard inquiry that went nowhere and I lost time, money and patience. My credit history was immaculate, yet they couldn't find a way to approve my loan. Go elsewhere, where you know what you need to be approved prior to spending money on appraisals or other expenses.
The instant I put my cell phone number on the Quicken initial application I started receiving robocalls about mortgages and they have been constant since then. Either Quicken is participating in the robocall scam or they have been compromised themselves.
The agent never explain everything clear, just question and more question, they have to former better they representative. She never had interest to make the loan, when I called just noise hear in the back, like they have a party. Don't waste your time with this people, go straight to your local bank and everything going to be more easy.
The loan process was fairly simple. They were very professional and personable at first. I think they hope to get newbies who don’t know anything about home buying. After doing some research I found out the rate they were giving me was WAY above the market standard for interest rates in my area. I had no idea I was being taken advantage of until I did some research and got a quote from another company. The first thing they did when I told them about the much lower rates with another company was to trash talk them and make me feel stupid for trying to switch.
They came back to me a few days later with a lower interest rate but they still had me paying buy-in points. I finally told them I was going with the other company and they transferred me to someone who talked down to me, insulted my intelligence about why I would even want to switch mortgage companies, proceeded to trash talk the other company and try to convince me they were bad, and was overall very rude. PLEASE do some shopping around for interest rates and you’ll see they charge MUCH more than any other company for no reason. They want to take advantage of people who don’t know a lot about the home buying process and treat you like trash if you want to leave.
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All I can say is that all communication stops dead in its tracks the moment you sign the closing documents. We refinanced and took funds out for home repairs. We were told that the funds would be deposited into our account in 3 days after closing. It's been 4 days, we have tried to reach out to them, no response and no comment. No funds either. We are questioning why we went with Quicken Loans.
Talked to them on the phone and decided to go with my credit union for a refi to 15 years and 3.25 that they couldnt beat... They promptly sold my phone # over the internet and now a get robocall after robocall for mortgage info I dont need. This has been going on for over a year now thanks QL.... Just what I needed on my life from you guys....
CINDY **. Just called to ask a Few Questions about Home Equity Loan and how it works and this is what happened! Honesty, integrity and trust are NOT any of the traits that Cindy **, expressed to us as a SENIOR BANKER expert at ROCKET MORTGAGE/QL. Not only does Cindy go out of the way to be sneaky, dishonest BUT it all happens in the initial first 5 minutes of the phone call.
Before you get thru with the first Question and her answer, Cindy has already started a Home Equity Loan HELL process on you. Verified your identity, and did a hard inquiry on all 3 of the Credit Reporting Bureaus, of course, WITHOUT your AUTHORIZATION or PERMISSION TO DO SO, while she still has you on the phone asking the second Question. Also, YES, she does take pride and asserts herself in creating BUT short lasting relationships with clients. With Cindy's value of integrity combined with Quicken Loans staff members, clients are sure to be in for a NIGHTMARE LOAN EXPERIENCE, so sit back and be frightened!
CINDY **. – You are dishonest, untruthful, lying, unprofessional, deceiving, untrustworthy, unscrupulous, two-faced, double-dealing, cheating, underhand, crafty, cunning, sly, scheming, calculating as they get. ALL of this drama created because we wanted to know and to learn about and get some information on how a Home Equity Loan works. This is absolutely HAUNTING!
Cindy secretly ran a Credit Report/Hard Inquiries on my wife and me, thru a company called, FACTUAL DATA that has a 14 day period usage to lock in her fake LOAN documents of us. Thank GOD, we have an ALERT on our credit reporting companies for Identity Fraud immediately notifying us of her unauthorized changes in our Credit Reports. We have been busy every day since the phone call submitting dispute claims to all of our credit reporting companies and contacting federal agencies because of what she did.
Not knowing, if Cindy is using her position at QL to gain access to Quickens client files by selling their personal information called (Identity Fraud) maybe, on the Black Web to make BIG $$ MONEY. OR is she so hard up for sales, this is her way of doing business? Either way, PRETTY SCARY! So we took our LIBERTY and contacted and filed ID FRAUD report with the Federal Trade Commission (FTC).
As a Resolution, Cindy **. needs to destroy, shred, discard all loan process information she has created and also to put back our Credit Rating scores in all 3 Credit Reporting Bureaus on Hard Inquiries applied to our Excellent Standings in my name and wife’s name before this NIGHTMARE can END and NEVER contact again. She will have 24 hrs, more than plenty of time before we file another complaint with the FEDS (FBI) to investigate this Cindy ** for unethical business practices at Quicken Loans. There may be more to this story then meets the eye!
I was a new customer of Quicken Loans and initially everything was going well with Mitchell **. Mitchell assured me the loan I wanted to do would work well and it would be no problem. Two weeks before closing Mitchell calls me and tells me that Quicken Loans can't do a loan that's valued under $100,000 in Detroit, MI. I was trying to do two loans around $60,000. This wasn't an issue the whole time and the day he was supposed to do my appraisal he calls and tells me they can't do the loan. Everyone I have spoken to told me this isn't true. I'm not sure what happen, but he had the good estimate written up. If he knew he couldn't do the loan why not be informed enough to tell me this months ago and not waste my time. I will never do business with them again.
They said we were approved at a specific rate. Then they said we could not purchase it as a second home and had to be an investment property even though we were using it personally and the interest would be higher. Then, after another couple of weeks go by they said that we couldn't purchase it as residential, even though it is a house, because it is next to commercial property. So, now we are three weeks in and will miss our closing because they are totally incompetent and unethical.
Got a call to be informed that we do not fall onto their criteria and was bombarded with rudeness from the get go. Justin, the person who called, immediately started with a very rude and downgrading misdemeanor because according to him we did not have what it takes and thus I told them to not bother us anymore because they can't help me anyway. Yet now they won't leave us alone and continue to call. Just very unprofessional. If a person doesn't meet their criteria there is still an urgency of conducting self professional and caring, which is something this company does not know how. Never would deal with any of these online scammers again. Go locally to a bank, at least one gets to talk to real people who are caring.
My husband (Veteran) applied online; refinance our home. (4/1/19) QL Intro Banker, whose name I will not mention, set up the application online, sent it asap. (4/2/19) He pushed & prodded us to hurry & complete forms. I said I need to read over them. Very demanding, he said: I already explain everything to your husband. I need to read the fine print, do some research; I was the co-signer. He asked for a credit card. We said no. (4/3/19) Completing & sending in all necessary documents, he persistently asks for a credit card. He promised there would be no charges until we authorize the deposit agreement. This couldn't be protocol, & I refused. He said, “we like to have it on file to make everything go smoothly."
(4/4/19) He finally got cc info from my husband with the following stipulations: Do not charge the cc. Upon securing funds, we will authorize the deposit agreement. (4/5/19) Notified by our bank; the account is overdrawn. Payment forced; no approval. We wanted to avoid this; that is why we request additional time to secure funds. Very disappointed & not sure whether we should proceed. Expected better. We are ruined.
I had a electric fire in my house. I got the insurance check from my insurance company five weeks ago. But Quicken Loans is just holding onto the check. Refinancing my house with them was the worst mistake I ever made. All I can say is don’t use them at all.
I live in Texas and wanted to re-finance my existing mortgage. My husband and I are seniors and thought we would see what Quicken loans could do. After quite awhile on the phone with a woman named Kelly it appeared as if all would go smoothly and she literally "congratulated" me, however I was mistaken. I advised her that we needed to sleep on it and would speak the next afternoon. I was not completely sold on a 30 yr term at 4.99% as we have Excellent credit and my existing mortgage was only 15 yrs.
Once we got off the phone I received an email from her with her contact information and letting me know to email her any questions I might have which I did the very next morning. I specifically asked her about the strict lending guidelines in Texas that she spoke of and wanted more detail. Not only did I never get a reply to my email when she called the next afternoon it was simply to say "Sorry, we could not get this approved due to the Texas guidelines".
So, let me get this straight...you respond to me asking about getting a loan through Quicken but no one in Quicken is educated on laws and guidelines in Texas? This was just absurd if you ask me. I immediately called a competitor within Texas and not only did we get a better rate, we stuck with a 15 yr cash out loan to consolidate debt. Just a heads up, if a mortgage company spends a ton of money on marketing which Quicken does, it stands to reason they need to make up the difference somewhere and in our case it was trying to sell us on a 30 yr loan and not even exploring other options that are available to seniors. In closing, I emailed the representative that I spoke with and thanked her for NOT approving this loan as it would have been the worst decision we could have made.
I applied for a mortgage loan through Quicken Loans after hearing about the fast and easy process. I had Amber ** as my loan officer and she was great. She helped me through everything I needed to get submitted and I got pre-approved and put an offer on a house. They accepted the offer so we went to the closing department, from there it went to underwriting. During underwriting I spoke with Deidre **, I had several questions regarding my loan and documents that she needed but she would never return my phone call. She eventually stated there would be a person who contacted me through the solutions team, which was Eric **. He contacted me on a Monday morning asking questions about my income and come to find out they had the wrong dates so he got that fixed then called back and asked questions concerning my husband’s income.
He had just recently started a new job and his first pay stub there was an error and he wouldn't get paid for another two weeks. They wouldn't take an error for an answer. They stated they had to wait for the paystub to come out correctly after we attempted for HR to get in contact with this Eric person. Eric was rude to me during this whole time. He wasn't helpful and didn't have the customer services skills that were needed for this job. So while waiting for the pay stub, I checked out a local mortgage company here in my town and they accepted my loan so I called Quicken Loans to ask them to withdraw my loan and I couldn't get in touch with anyone and after emailing and calling several people, Eric finally got back with me and by emailing and saying they denied my loan. This is what really ticked me off as I wasn't denied but because I chose not to wait around for them and I went to another mortgage company he wanted to deny me.
If he was going to deny the loan, he wouldn’t have done it way before now. I am really hoping this will not affect me as I continue to try to get this loan with FHA. I would not advise to use this company at all. I paid $500 to lock in my loan and they haven't even reached out to me to verify if I would see any of this money back. They are nothing but rude and hateful employees once you get past the pre-approval part. They want to continue to blow your phone up until you get approved but then once underwriting and several questions come into play you can't get in touch with anyone. This is a big purchase for my family and I want to be able to spend my money with someone who is going to treat me fairly. I will never recommend this company to any friends or family.
I chose Quicken for my 30 year conventional loan because the loan officer told me we could close in 2 weeks. I provided numerous documents the same or next day that weren't reviewed until the 11th hour, 3 days before closing. I would receive cryptic auto-generated messages in the portal, where it was unclear what was being requested. For example, they questioned my divorce documents that were prepared by my lawyer and accepted by the court, because my lawyer struck through the word "we" and replaced it with "I". There was no visibility of the actions on their end. I was told, for example, that the condo questionnaire was expected back on 3/21. I called the condo association to track it down, and the order had not even been placed until 3/22, with a deadline of 3/28.
I found out 3 days before closing that I could not use a substantial portion of my down payment that I received when my ex husband bought me out of our marital home. The specialist was very condescending and she she had to "paint a picture" for the team about my assets, as if I was doing something underhanded. Again, my legal documents were professionally prepared. I ended up coming up with additional funds, but not in time to close. Closing was delayed a week and I nearly lost the condo (hot market).
I received the closure package less than 1 business day before closing, and it was riddled with errors. They didn't even have the correct name, address and marital status. Throughout the process, I continually was turfed around, and worked with SIX people, instead of one person start to finish. When I called with questions, they referred me to the title company, who did not prepare the documents. I will never, ever do business with Quicken or their partners again.
It seems like they and others are selling my personal information online due to stuff I'm not even applying for I'm receiving after filling application out with them. So if you guys would please be sure to flag them. Also it has gotten really ridiculous all the sudden the junk mail after filling out their online inquiry. So what's such a shame the games they seem to be playing, why bringing my credit rating down with unwanted loan information I did not even file for. Now I will be reporting them to all the proper authorities for privacy due to the private act it is against the law what you're doing, as soon as possible getting off proper authorities involved was selling my personal information. Also I'm contacting the FCC along with other government agencies for their illegal intrusion. I had receiving con artists of fake mailing post over & over even after blocking them on a normal basis every day no matter how many times deleted.
I am a licensed loan officer for the past 15 years and wanted to do a loan outside of my own company so my employees would not have access to my info or financial situation. I spoke with 2 "President's Club" winners as per their email signatures. I had to explain in detail my income to the first loan officer "JD". After telling her how to calculate my income she sent over a high rate and points compared to the market (730 fico and 70% LTV). Then told me how the market was going up and I better lock in my rate now (rates have fallen since). I passed. "MK" called me back and said, "I have you qualified and let's take the next step. I can offer you a better rate and fees and let's order the appraisal." Appraisal was done and then some condescending person calls me back to go through my income...again.
Jason ** was awful and arrogant and interrupted me constantly. I stopped answering my phone and email and went to my local bank. Andrew ** called me back one more time to "save the deal". He knew little to nothing about my loan and then lied to me saying "new federal guidelines on income just came out". I said, "Really, what are those?" A lot of nothing after that. Some talk of investor overlays (they service all of their own loans) and that he didn't know much about my loan and Jason ** wasn't there. Then said I should go through my own company because they understand my income better. Really bad experience and embarrassing for Quicken employees involved.
I'll never understand why industries that rely on human interaction never invest in actually making that a pleasant experience. I started the application process online. Nowhere did they explain even after a couple dozen questions being answered, and a credit reporting being pulled - nowhere did they explain that I couldn't get the approval letter I wanted without also having a phone call. It's a simple message that should appear on each question: "thank you for completing this quiz to help us serve you better. A rep will call you shortly".
Instead, they specifically asked me if I wanted to opt-out of phone communication, I checked the opt-out, hit submit and literally within FIVE seconds got a phone call. I can't make this stuff up. Poor rep that called says to me "yes I do see where you opt-ed out of phone communication. But you can't get an approval without a phone call" (and laughs at the suggestion). These are the same people who advertise that you can do it ALL online and they make it so simple. Needless to say I was annoyed from the start. Then as I agree to proceed - he FINALLY looks at the umpteen questions I answered online to realize that I live in NJ and he is not licensed to cover NJ.
I patiently scheduled a call for the following day that was just as painful. He asked a ton of questions that had zero bearing on my application. And when I asked why he was asking he said because he thought he was talking to a person. Despite the insult - I suggested we get to the ones that were necessary for a quote first -- finally returns with a quote and refuses to give an actual rate. I explained that I know it will fluctuate with the market but I need an actual number for comparison - and he refused. SO over Quicken. Glad we never gave them our business and absolutely NEVER will. While they may just hire bad reps - I do think some of what I experienced is poor policies and poor training. Hope they have the good sense to fix it before they spend any more $$M in advertising.
Six weeks later: I have yet to receive the preapproval letter they have been promising me. Every time I talk to them underwriting needs another form. They have completely change my mind. I would not recommend them. Use your local lending institutions. They will take you by the hand and walk you through the process better. Quicken Loans team does not have that warm fuzzy feeling in actuality. Like I’ve just been getting the runarounds.
Rocket Mortage by Quicken Loan is a scam. Does anyone buy the house before inspection of the house? Last December I was going to buy a house. The inspection report on the house was ready on 12/23/2018. When it was clear I am not able to buy the house due to multiple contingencies that the seller was not willing to fulfill. I canceled the purchase of the house and informed the Rocket Mortage immediately. However, Rocket Mortage charged me $500.00 for appraisal of the house dated 12/19/2018, five days before the inspection of the house was ready.
Be aware that this company will charge you ridiculous origination fees. In fact they were trying to charge upward of $3500 in origination fees on a new mortgage. After pleading with them to get the estimated cash to close number down, they wouldn't budge on the fees, until...I showed them a competitor lender's quote which had a fair origination fee of around $600.00 which I got that lender to drop down to $400.00. After showing Quicken Loans/Rocket Mortgage the competitor's loan estimate with the much lower origination fees, Rocket Mortgage waived ALL of their origination fees. However this put a sour taste in my mouth, because now I had realized how many other people who did not shop around, got taken by Quicken Loans/Rocket Mortgage. Also made me realize I had probably gotten a rotten deal on my re-finance I had done with Rocket Mortgage a few years ago.
Furthermore, about 6 days after withdrawing from proceeding with Rocket Mortgage, they charged my debit account around $13 without my authorization. When I called them, they said it was to cover their cost to pull my credit report. I DID NOT AGREE to pay for that. They say it was stated on the deposit agreement, and it was...however I DID NOT SIGN the deposit agreement. I had not agreed to pay any deposit in writing. I called to get a refund on that charge, and I was told that I would get the refund in 3-5 days. We will see about that. Now I do not trust this company having all of my information I provided, nor will I do business with them again.
I applied for a mortgage with another broker and Quicken has been calling me non-stop and emailing me as if I applied TO THEM! It's false representation and extremely wrong. If I didn't have a relationship with my broker - I almost would think that he used them to submit my info when in fact they just intercepted my credit inquiry, This is RIDICULOUS! I block them and they robocall me from other local numbers. I can't even pick up my phone because it's THEM!
At first everything seemed great. We refinanced our home for a lower mortgage & decent rate. However, this year we get a letter telling us they "incorrectly figured the property tax". We were now over $1400,00 short in escrow that we needed to pay either all at once, or break it down and add to the mortgage (putting down the first $500 immediately).
With the correct property tax figured in it now raised the mortgage to more than what we were paying before refinancing. How did no one there catch that they listed a 2.89 acre lot with a brand new built 19000 sq foot home on it, for $250.00 a year? I would think someone would have seen that & thought "Damn that can't be right." We called them, and requested to take the property tax off the loan, they sent the needed forms & we signed them. Then yesterday we get a statement/letter still showing the property tax on the loan. Looks like we will be calling again to TRY and get this straightened out.
I have been going through reviews and so far have found 2 similar situations for this year (2019) and it's only March. I don't know if we can fight this or not, but I think it's time to speak to a lawyer. I suggest anyone looking to refinance with them, or company, that you read over every form every time they ask for signature and before final sign off, go over it word for word, on the phone or better yet, face to face.
I have a credit score of 760. That is very good. I contacted Rocket Mortgage thru their website for a quote. I provided personal tax returns etc. I withdrew the loan for several reasons. 1: they requested information that I was originally told that would not be needed. 2: I am refinancing my home that only has a balance of 14% of appraised price (their appraisal) and the information they asked for pertained to another company outside of the scope of the refinancing.
Finally, when I applied for this refinance, what they (Rocket) do not tell you is you will trigger a deluge of calls and emails from OTHER lenders wanting you to get a quote from them. Rocket participates with a large group of lenders who TRACK credit inquiries. How corrupt is that. I expected my inquiry as well as email and phone to remain PRIVATE. That will not happen if you apply with this company. I received no less than 8 calls from DIFFERENT Rocket employees during this saga and I would recommend to all... Go to a brick and mortar lending institution for privacy, competence, and to deal with as few people as possible.
We have been holding a mortgage with Quicken for almost 10 years, and have not had any real problems. However, of late they have been calling several times a day, asking us to refinance or to "talk about details of our mortgage." They literally called 3 times in 2 minutes. The first time my husband answered some of their questions; no, we are not planning on moving in a year, no, we do not want to refinance and to please stop calling. They called right back and we didn't answer the second call thinking they'll get that we're irritated, but no, they called back a third time.
Calls were at 10:47, 10:49 and 10:49 a.m. That third time we got into a verbal altercation with the person, asking them why they would call us 3 times in 2 minutes, and even after we specifically asked, "Are you going to keep calling after we have told you to stop calling?" He answered with "Yes, we're just going to keep calling you every day." And sure enough, the very next day at 8:42 a.m. there was another call, with the same exact sales pitch as before and we had to have another altercation with a new person. What confuses me the most about this is, we are already a client. Why would they treat current clients like this? If this harassing continues, we will move to another loan company because they obviously don't understand when they have a good thing going with a current client, and do not take, please stop calling and take me off the promotion list with any regard.
I have been a long-standing client of Quicken Loans with, most recently, a refinanced mortgage from several years ago. Existing rate is very good and cannot be touched by current market. Quicken attempted to contact me several times and I did not answer my phone until the third call. When I realized it was a sales call, I told the caller that I was busy. He then proceeded to ask if my home was still a house or was it a mobile home. What?? I said that "Quicken holds my mortgage; you should know this." He asked again and I hung up on him.
Next thing I know, I received a rejection letter as though I had applied for a loan. Four phone calls later, I was transferred to the Executive Offices, and was told that this was an error. The person apologized and said that this was an error and she would email then mail a retraction letter. Meanwhile, I was told by the 3rd person I spoke with in Client Relations that even though the conversation was 10 seconds long, by law, the lender needed to send a denial letter. Beware. As I wait for a retraction, I am feeling very uneasy about this company with whom I've had a long-standing relationship. Predatory practice? I will not recommend Quicken to anyone at this point.
FHA loan - First time home buyer here, was just curious about whether I could afford a home. Cory our loan specialist was great in responding and telling me what I needed to do. I was approved for an amount I could afford and we offered on a home quickly. I will admit when it went to underwriting the process was stressful and had delays during our offer period. I escalated the issue and was contacted and closed on time for my first home. Be honest with what you can afford and you won’t be disappointed. Thanks guys!
From the time I applied for the loan to now two years later I can still say that Quicken Loans has the WORST customer service I have ever encountered. You quickly realize that you are a number. Not one employee is capable of thinking on their own. If it's not in the manual or computer generated they are clueless. I soulless company. They applied my payment wrong, in doing so late fees were generated. After several attempts to get a hold of someone who actually had a brain they were able to reverse the misapplied payment but told me I still had to pay the late fees. Unbelievable! The computer wouldn't allow them to take off more than one. Her argument was "that's our policy." Even when they made the mistake. It's like doing business with the devil! I can't wait to refinance!
We were going to go with Quicken because they offered us an awesome rate that nobody else could beat. I received the loan estimate and it had us paying well over $10,000 for the rate. I called and told them that I didn't have that much money laying around, so they raised my interest by almost a full percent in order to "bring no cash to closing". When I received the new and improved loan estimate, they did have a higher interest rate, but still have me paying $8,230 at closing. That was AFTER they offered me $11000 toward closing and my $3000 down payment. Their total closing cost was $26,616. I told them that was higher than what it should be and they tried to convince me that it was "industry standard" and I would get the same closing cost anywhere.
I went to our local bank and received a pre-approval and loan estimate and my total closing costs are $9,853 with $8280 in incentives, which after my down payment, leaves me with money in my pocket. My interest rate is also lower than what quicken offered. The closing cost wasn't the only issue with me. The red flag that actually got me looking into everything was when they were asking for some crazy things and were asking for me to submit documents that had already been submitted several times. I also had to sit on the phone and teach their employee how to read a bank statement and instructed him on basic computer functions to make his job a little easier. After 2 days I wanted to rip my hair out, so I went local. So glad I did!
Quicken Loans Company Information
- Company Name:
- Quicken Loans
- United States