Quicken Loans

The warning here is that a verified approval is anything but. That businesses like Quicken Loans do not care about your business. Staff was belligerent and combative, not trying to remedy the situation. The promise of a quick and "pain free" process is simply not true. Fortunately for us we could afford to pay cash but we understand that is not possible for everyone. So be very wary when you start with Quicken Loans.

Then you'll get a phone call a week before your closing date. In my case, they made an accounting error and miscalculated my debt-to-income ratio. They'll suggest you pay down your credit card debt to bring up your score--only to realize that their "hard inquiries" on your credit make this attempt futile. You're then left with a house filled with boxes, a soon-to-be-homeless tenant, sellers who now have an empty house, and family coming into town for Thanksgiving in your "new house." - But only it's not your new house, it's your old, small house filled with boxes and no dining room table because you sold it to help with the move.

GO WITH A LOCAL BANK. Save yourself the stress, emotional torture, and expense. Do not be romanced by their slick advertising or friendly "executive bankers." Believe me, I feel like suck a sucker for falling for it. Fortunately, I'm now working with a local bank who is helping me get a new loan. But I have to start all over again (including more money out of pocket).

They'll get your $500 in the first few days of your relationship - then wait weeks before putting your loan through underwriting. If anything is wrong with your loan, you'll find out about it days before closing. And you're out thousands in moving expenses and the $500 good faith deposit because they'll claim it was used toward the appraisal and other costs. STAY AWAY from Quicken Loans or Rocket Mortgage. No doubt they'll get their comeuppance one day through an expose on 60 Minutes or The New York Times.

After the conversation on September 24th, Sam asked for a series of paperwork, which included my husband's DD 214, which is what every other lender asks for. On September 25th Sam had all the paperwork he asked for. At that time we had to pay upfront for an Appraisal, $450. The Appraisal took another week and a half to schedule and complete. On October 8th it came in higher than we expected. At this point we had all documents, as well as our appraisal completed. We expected a closing date.

For the next week Sam's "crackerjack VA "team" kept asking my husband for a DD 214 MEMBER 4. My husband never heard of that form, or ever had to use it. They had him fill out a form, which they said may take a week or so. It became more than 2 weeks when we asked Brandon why it was taking so long. We even stated if they couldn't get answers we were going to look elsewhere. Brandon essentially said the VA had more important documents to produce for people who needed death certificates and other paperwork. He hoped they would get to our request soon. If we had to go with someone else, basically he said "we should do what we needed to do".

I Googled the illusive Member 4. Wikipedia states the VA never gives out copies of the Member 4. I emailed Sam this information and never got a response. My husband and I tried to email him again two days later and both our emails were bounced back as if we were blocked from his account. We canceled our loan with Rocket/Quicken Mortgage. If you do decide to go with this company make them tell you exactly what papers you will need and make sure you have them before they come up with an illusive document request and cannot tell you why, or when it will be available for you to close on your loan. It cost us over 1 month's wait period even though we had documentation they originally asked for, as well as a good appraisal. Beware the VA loan.

We have had zero issues with the servicing of our mortgage; everything is clearly laid out in our monthly statements including the impact of our additional principal payments. We had a unique situation where we are property tax exempt but had to pay taxes into escrow at closing. Quicken did an escrow review the same day and refunded our money in 7 business days. We were warned about Quicken possibly being an issue, however from our perspective as long as you give them what they ask when they ask we had no issues. Brad was awesome, so was Mel.

After a month into everything a consultant specialist (Eric **) reached out to me and asked if I would be able to cover around $10,000 in closing costs, I stated that I could obtain the cash from my 401k (of course I had to turn in copies of the withdrawal from my 401k). A couple weeks went by and I would have a new item on the portal to view, so I would check my new loan disclosure and the closing cost was showing $13,000.

It is now October, my loan disclosure shows that the closing costs are over $21,000. Eric emailed me saying that we were near closing and that I would be hearing from him. When Eric called, he said that the mortgage on the house was behind since May of 2018. I have paperwork showing that the mortgage payments are up to date. I even had proof uploaded on my portal. Eric didn't try to help my understand where this information came from. If there was a problem with the previous mortgage on the home (wouldn't that have come up way before now). I don't know how this company is allowed to still remain open after they are taking people's money and not being upfront about what they can or can't help you with.

Four weeks before closing, they call again and inform me that a full year's home insurance must be paid in advance. Which I had never been informed of previously. I reached out to a family member, who was willing to help with the $1000 I was short towards insurance. Once I got the home insurance set up, and switched my car insurance to get a bundle discount, they call again. A week and a half before closing. They now inform me that due to tax fluctuations, they will be requiring $8400 down with the year in advance of insurance paid. On a first time home buyers loan. Thinking I would lose the house, I reached out to my realtor, who reached out to the seller. The seller offered to loan me whatever I was short for closing, and I could pay it back to him.

Thinking all this was finally over, I relaxed a bit. Until receiving yet another call. My realtor informed me that Quicken Loans denied the loan from the seller. So, I have everything I own in boxes and nowhere to go, thanks to the worst loan agency I’ve ever worked with. Do not go with Quicken Loans. Additionally, I spoke with a supervisor there about my experience, and did not even receive so much as an apology. They have also denied my request to refund me the $500 deposit I had put down for the loan. This has been the worst business I have ever dealt with.

I tried to reach a resolution with a Quicken rep by the name of Jill. She stated, even though I clearly recorded & stated don't run my credit. He did so. This is a company not to be trusted. Read other client write ups. You can expect; Sleazily, and deceptive business practices here... Go with Home Depot. This is only my experience and option. Read other client comments for yourself's.

My career is in financial services and I even previously worked for a company that gives awards for customer experience, so I trusted Quicken's brand and reputation... all I can say is, DON'T!!! SHOP AROUND before you ever sign with this company!!! I had multiple lenders offer $10K LESS in closing costs! HUGE difference and honestly, I feel Quicken was trying to take advantage of my situation. If they will treat a current client who has great credit and never been late on a payment, how will they treat you? Don't believe the marketing hype... they offered me a loan with horribly inflated closing costs. I received the same 30 yr fixed, same appraisal amount, same interest but over $10K more in the cashout offer due to the closing costs from the 2 other lenders I looked at.

Quicken then had their "retention team" reach out to me multiple times where I avoided their calls and didn't return messages. I finally ended up talking to 2 different "retention team" members where one decided to threaten me and tell me to feel free to call them back in a couple months when my payment goes up and isn't what this other lender promised. What a scare tactic! HORRIBLE to do to a single mom in distress about her financial situation and just wanting to pay off debt and lawyer fees! Like I said, SHOPPING AROUND in this competitive market is KEY!

Getting a couple quotes can only help you and educate you to what is available. It doesn't hurt your credit to have multiple lenders pull your credit when shopping for a mortgage. Just need to do it in the same timeframe. Don't trust the JD Power trophies that Quicken is the way to go! I'm so SO grateful because I have $10,000 more in my bank account because I refinanced with another lender and left being a Quicken customer!

This is a typical bait and switch scenario, and now I am very wise as to how this company works. Use caution when proceeding, he is a salesman not your buddy, and if it sounds too good to be true in the beginning, it probably is in the end. Oh and btw, I did secure a better loan rate, waived fees and genuine customers service from my personal bank. Educate yourself before falling for their scam.

Keep in mind, my bank balance before all this was more than sufficient! Talk about jumping through hoops! Now today, No one called but cowardly I was left a message on the "Secure portal" that states "sorry, but before we can proceed, per underwriters,". That "I must produce appraisals of value for all the items sold, from a car dealer or mower dealer". WHAT? How and the heck am I to track down and asked the new owners to let me take the item you bought back and go get a "certified" value appraisals!!! It's now apparent that Rocket Mortgage does not trust anyone! I can't believe what they asked! Don't waste your time with them, go with a locally funded mortgage institute, like your LOCAL BANK, that's what I did and (got approved in 72 hours) and should have from the get go! Like I said, Rocket and Quicken, WHAT A JOKE!

As a Veteran using my VA loan for the first time I expect some difficulties. However, Quicken Loans repeatedly blamed the VA for items and standards which in fact the VA does not require. There is no excuse for that. It took a little effort to find the real rules but they are out there. Many thanks to the VA employee **. I couldn't figure out why we started having so much trouble on a simple, previously approved, loan, Then I remembered the FED raised the interest rate and there is more money for the company to make elsewhere. Never mind that we had paid for an interest rate lock. They wanted out of their commitment. After reading your experiences it seems that their bad behavior is simply their business model.

Just like all of you, I want justice. I don't believe for a minute that these posts will effect this big company. The occasional reader might steer away from Quicken Loan but it won't hurt them. Nor will it remedy the great damage they have caused to me and my family. Where is the justice for us, and for you with your complaints.

Reading the other posts here I believe there is a pattern of deceit which borders on a violation of the Real Estate Settlement Procedures Act (RESPA) laws. If so, there is a place to hold them accountable. Now, the enforcement of RESPA is in the hands of the CFPB with the assistance of state attorneys general. Very few consumers are aware of the laws out there to protect them. Because they don't know people don't seek redress for the damages caused by unscrupulous companies. The companies keep reeking havoc on people's lives and racking up the profits in the process.

Consumer Affairs a great service to the community but may be too little too late for many of us. If you “blow off steam" here with your post and move on, the company wins. You lose. The trick is to stay angry even after you have moved on. Take the fight to the next level. They were perfectly happy to take your money, your time, your expectations, your reputation and throw it under the bus to make themselves a little profit. The is not what Capitalism is about. That is not what America is about. We are better than that. WE deserve better than that.

My life experience says that banding together can effect change and maybe find justice. We do not have to suffer in silence. There is a Federal Watchdog agency out there which offers some hope for justice. This FEDERAL Consumer Financial Protection Bureau is your tax dollars at work watching out for you. It is like calling the police when you see something suspicious, or dangerous. Some problems are too big to handle by yourself.

I wonder if all the complaint posters here followed up with a formal complaint to the CFPB if we might find justice. I see on the government site where there have been settlements of more than $14 million dollars against banks and mortgage lenders their misdeeds. Again, this web Consumer Affairs provides a great service but it should be the beginning, not the end. I'm taking my complaint against Quicken Loans to the next level. I hope you will too. "Pray for the Dead-Fight for the Living" - Mother Jones.

Consumer Affairs a great service to the community but may be too little too late for many of us. If you “blow off steam" here with your post and move on, the company wins. You lose. The trick is to stay angry even after you have moved on. Take the fight to the next level. They were perfectly happy to take your money, your time, your expectations, your reputation and throw it under the bus to make them selves a little profit. The is not what Capitalism is about. That is not what America is about. We are better than that. WE deserve better than that.

My life experience says that banding together can effect change and maybe find justice. We do not have to suffer in silence. There is a Federal Watchdog agency out there which offers some hope for justice. This FEDERAL Consumer Financial Protection BUREAU is your tax dollars at work watching out for you. It is like calling the police when you see something suspicious, or dangerous. Some problems are too big to handle by yourself.

I wonder if all the complaint posters here followed up with a formal complaint to the CFPB if we might find justice. I see on the government site where there have been settlements of more than $14 million dollars against banks and mortgage lenders their misdeeds. Again, this web Consumer Affairs provides a great service but it should be the beginning, not the end. I'm taking my complaint against Quicken Loans to the next level. I hope you will too. "Pray for the Dead-Fight for the Living" - Mother Jones.

Long story short I paid for inspection-and I paid for an appraisal… All to come to find out that Lending Tree was right from the get go - and that I would need 25% down because there was an investor in the condominium complex that had a very heavy presence and because this investor owned 100 units in this complex - so anybody coming in from the outside would need 25% down in order to purchase a condo. I actually ended up coming up with the 25% down… At the end of the day Quicken Loans still could not get the loan done because they say it was too high risk… Seeing that the investor had too much of an upper hand with the properties in that particular complex.

I called the client relations department for Quicken Loans and they could not find the multiple phone calls between me and Mr. ** with him assuring me over and over again I would only need 3 to 5% down - it’s pretty funny how they say that all the calls are recorded but then when you call them to have them pull a call they can’t seem to find the phone call… It was ridiculous. I told them I wanted them to reimburse me for my appraisal and they absolutely refused and they told me they would give me $250 back which I thought was a freaking joke because the whole thing was their fault. They should’ve known from the get go that there was an investor issue within that complex…

We faxed overall 70 pages of the condominium documents and in those documents it included everything that they needed to know… There was no reason that they should’ve pushed me to buy an appraisal and push me to get the inspection done. The only thing that I can compare Quicken Loans to is I feel like they are the Kia of home mortgages. I feel that Quicken Loans targets people with bad credit or no credit… So of course these people are just thrilled to get approved because they don’t know any better. Please adhere to my warning when I tell you if you have a 740 credit score or higher. Believe me when I tell you you could do much better than Quicken Loans. All they do is play a numbers game.

They take numbers from the back and tack them onto the front or vice versa and when I switched mortgage companies - I literally save the $3700 because that was the amount of money that Quicken Loans was charging me for all of the origination fees because they have to use third-parties to get things done. I strongly recommend that if you are a first time home buyer-do not go with Quicken Loans… Do your research and make sure you go over everything with a fine tooth comb because you are going to pay out the wazoo in fees and in closing costs and all of it is garbage and it is a complete joke. In my opinion I think they need to be audited big time because I am hard-pressed to think that what they’re doing to people is actually legal. GET SMART- Say NO to Quicken Loans!!!

(4) Inspection before and after damage repair

To be clear, we understand the need for procedures to be in place to avoid fraud, but after speaking with associates in banking, insurance, and mortgage lending, Quicken Loans' protocol is, again, exceptionally and unnecessarily arduous. That, coupled with the distance and need to have everything processed via land mail makes the experience nearly insufferable. Local banks/lenders do their due diligence, but the process is not unreasonably tedious, and local processing is both personal and efficient. From our experience with Quicken Loans, we would strongly recommend to anyone seeking a home loan to do so locally.

We not only had to get Lifelock, we now have submitted numerous police reports, which we were told they hopefully will be able to pinpoint who or what company is applying for all these accounts in our names. Even after thanking him and saying we have chosen another company we got nasty emails from him and then this started. It's pretty obvious what happened here and the police will get to the bottom of it. So do not use this company at all. They don't even approve you for what you should be approved for. We were approved for a shack. Went with another company and had no issues at all. Buyer Beware!

We found our dream house, put an offer in, Quicken approved us AGAIN and then for some reason we got handed off to another underwriter and they said we were no longer approved. They indicated that our prior lender gave us poor advice and that we should have never paid off our debt and should have refinanced our lake house and unfortunately, there was nothing they could do for us. We asked them to provide us some alternatives, as we leaned on them for their expertise and they gave us poor advice. They indicated some other steps that we could take, so we did them to find out we still weren’t approved.

Throughout the entire process we had to supply the same documents numerous times and sometimes we would be notified that we were holding up the process because we weren’t completing the items on our to do list, yet when we logged in, it said 0. We brought this to their attention and they couldn’t figure out why this was happening and didn’t really propose a solution. It’s really hard to provide documentation when you don’t know it’s being asked.

We were handed off to numerous people throughout the process and no one seemed to take responsibility for anything…especially the fact that we were given poor advice and approved 3 times. Sucks when you follow their advice, to find that you were handed off to another underwriter and that they made another mistake and we were no longer approved. If we would have never followed their advice, we would have been approved for our dream home and had a whole lot more money in our bank!!

Finally after 10 days of living in a hotel Quicken Loans made us an offer to increase our mortgage from $2100 to $2500 and when we refused they just rejected us. Worst part about this they will not provide you with anything in writing so they cannot be held liable. When you report them to the better BBB they will simply reply that your "circumstances" changed and they will keep their rating.

I have never written a bad review about a company and I hope I never do again because this is simply something I just do not believe in but I felt very strongly people should be warned about this companies practice. We ended up losing the house because the seller couldn't afford to wait for another lender to step in. My wife and I both have very strong careers and have done everything the right way (740 credit score, good income, no debt) and to be humiliated like this and lose our dream home because of a Big Company feeling like they can just push us around just does not seem right...

There were a few important details that got shuffled and a few balls were dropped during the re-fi process. I sometimes felt that the right hand was not aware of what the left hand was doing. Once these glitches were pointed out however, I was quickly contacted by Laura **. I cannot say enough about how she assisted the getting the process back on track. Laura was interracial in my decision to remain with the re-fi process through your company and not utilize a local banker friend who originally contacted me and was in the process of handling my re-fi before one of your agents offered to match their offer. After researching my loan, Laura put me in touch with Brandon **. Brandon also was true to the company’s word and the customer’s expectations. He negotiated an outcome that was suitable for both and we closed on the new loan. Well done by Both!!

The original founder of the company I work for has been quoted many times, "The three most important things in running a successful business are 'People, People, People'." Well, with all of this being said, these two people… exemplify the best of the best! After a short period of questioning the new processes and wondering if your company would retain my business going forward, I am back to being a believer in your business model!!!

I slept on it, okay. I woke up in the middle of the night, and thought, "No!" I wrote him and said I'm out and why. I'd be giving up equity to shave a fraction off the effective interest rate (factor in PMI) and I'd be stuck with a mortgage payment that will make paying off my cc debt that much harder. I can't do this now. I don't have to do this now. What was I thinking?

Classic hard sell sales tactic alert! I was EXHAUSTED after the long day at work and long phone call. In response, I got an email from him asking if we hadn't agreed to discuss if I had concerns? Classic hard sell sales tactic alert! Getting you to "agree" to stuff so you're less likely to say "no." His email told to me to call his director for my refund. Escalating to the boss. I left a message for her then got a call from him. He told me I misunderstood. Said he had a plan for me to meet my cc debt, too. That was just not true so I called ** on that. The director was lurking on the call. She cut in, told me "write down" some numbers because she wanted to "educate" me.

I found her tone bullying and condescending. I couldn't get a word in edgewise. She wanted to stress how much money I'd save over the life of the loan... I wanted to hang up, and I should have, but I tried one last time to act right, making the point that I can pay whatever amount I want on my current mortgage - no pre-payment penalty - and save as much or more over the course of the loan. They were kind of desperate. I'm sure that's because they want what's best for me and my family and not because of sales quotas or the hopes of owning my house someday.

The saddest thing is that one of these 5-star reviews is from someone saying how nice they were to her even after her home was foreclosed on. These ** put her in a commitment she couldn't afford, I'll bet. All the time stressing how much money she'd save. Predators. Go elsewhere. Talk to your bank. Talk to a financial adviser. Talk to your cousin, the accountant. Never, ever get rushed into a decision that big. Rocket Mortgage, indeed. I'd like to shoot them into outer space. Google "Quicken loans hard sell."