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I would not recommend Quicken to anyone. One of the worst customer service ever. Don't be fooled by the fancy commercials. I had a mortgage with them for about 2 years now. 1 of my tax bill from the city was not delivered and was sent to them. They immediately established an escrow account and increased my monthly payment. I contacted them and try to resolve and even sent them proof of tax payment but no way. They treat you as a delinquent customer. I have my monthly payment setup a month ahead recurring and have never been late. The answer I got from their "executive team resolution" when I said I would file a complaint with the Attorney General and I might go to Court, was that they have the legal means to go to any court.
This all for a $300 tax bill they received in error. I even provided them proof of payment. They reported me as late because the full payment including escrow was not received, even though my payment was on time a month ahead. My credit dropped more than 100 pts. By the way I asked for arbitration, they have none. Seems like they are working to push more and more people into delinquency to increase their write offs. This is a shame and probably illegal.
My husband and I are on the other side of Quicken Loans. We are sellers of our home who sold to a person using Quicken Loans. It has been utter horror. They were "pre-approved" then the appraisal was low balled and 10 weeks later nothing. WE lost our purchase of our new home which was financed in 4 weeks through a real bank, why do people deal with this so call company? Maybe there should be an investigation into how they do business.
Quicken (also known as Rocket Mortgage) originated my refinance home loan. I had no problems with quicken until now. They transferred servicing my load to Loancare LLC. Loancare LLC charges fees for everything and the fee amounts are more than double including charging $15 to use their automated phone system. See attached photo for their fee schedule. A payoff statement is free for the mortgage I have with Third Federal. Quicken charges $25, Loancare charges $60! So, beware: at some point quicken will transfer your loan servicing to a firm whose business plan is to overcharge for everything (just checkout the Loancare LLC ratings). You may be happy with quicken/rocket but that won’t continue when they transfer your load to loancare llc.
In July 2019 we were considering to refinance our home in order to pay for needed repairs. Filled out an online application and was immediately contacted by Quicken Loans. They called me several times with a quote and convinced my husband and I to move forward. I was informed there was a 500 dollar deposit to secure the interest rate. I was reassured by the representative that if my loan didn’t go through for any reason I would get my money back. I told him from the beginning we needed the money for new roof and other minor repairs. Two months later my Loan was denied because of the roof condition. I ask for my 500 dollars back and was told that paid for my appraisal and no refund was available. Beware!!!
Not only did they waste my money but caused a large amount of stress to my family. We had a preapproval and had almost everything done that they wanted. Had the house inspected and just had the house appraised. But then we get a call saying we are no longer approved. After spending money and was told we wouldn't no longer get the money back. Will never recommend. Will tell bad the rest of my life.
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If you set an escrow account they will miss paying you homeowners insurance and not expedite payments even though funds are available. They will tell you they understand your frustration but they really don't. If they did, that payment would be going out to my Insurance company immediately instead of putting in requests to send payments. Really, the policy has lapsed and my family, my home, my belongings, my visitors are not covered. How can you possibly say you understand! If you go with a loan from Rocket Mortgage be prepared to deal with people that are trained to be computers.
I was called by Quicken Loans one day. They have been my mortgage company for almost three years now. I have never missed a payment. So I called back thinking it might have been something important. The person I spoke with began to ask personal questions and I answer them not knowing this jerk is running my credit. He comes back and tells me how he could lower my payments. I then inquire, "Did you just run my credit??" He stated yes he had, I told him. "I never gave you authorization to run my credit." I was livid to say the least. I hung up and called back to let them know that I did not want nor had I requested refinancing.
I then proceeded to contact the BBB in Detroit and filed a claim with them that day. I actually had an horrible experience buying my home with them. In three months they ran my credit about four or five times, the last two times they ran it I knew nothing about it. I only saw it when I looked at my credit report. If or when I buy another home or refinance I will not use Quicken. Buying a home should not be stressful experience, but it was for us. I lost ten pounds during those three months. The person that was helping me I did not even give a rating to because I was so upset about the way the process went. I would not recommend Quicken to anyone. I don’t care what their rating is, it’s bogus and paid for. That was not my experience with them and my credit was ran March 2019.
In the very beginning stages of purchasing a home and wanted to see how much I could afford if I bought a multi-family and rented my home. Jason ** outright accused me of committing fraud and denied to give me a pre-approval. This was after running my credit and mentioning that I have excellent credit. I hate to be one of "those people" but, I can't help but wonder if this would have happened if perhaps I had an American name.
I receive the letter from them that said the match or beat letter which offer that if there are not beat or match my lender, they will give me $250 Gift card. I don't know why they know my address or know that I am doing the refinance and send me the letter. I think I am give them a try since I see on most website, they are rating 3.5 or above for star rating. I fill out online for 15 to 20 minutes. Then there are someone call to take the asking the question over again for around 30-40 minute, and transfer me to another loan officer. They did tell me that they are not officer but I think they are. The loan officer ask the question over again for another 10 minutes which some almost the same questions online and the previous person ask. Then he talks to me another 10 to 15 minutes regarding the rate that he offered me which is over 4.0% APR for 30 years terms (I believe 4.25%) or lower rate with points for 3.99% APR.
I told him that the loan rate that he give is higher than my lender and mention of the Match or Beat letter that he give me. He told me the contact to corporate or something to get that. I go and call few time to get to someone to get the form and fill out. I think it was done. No they ask for my closing disclosure and loan estimate for this. I have to wait for 3 weeks when I am done with the loan to be able to mail the all 2 documents that they are request. I send these documents, then they are denied that said that their agent don't have time to present the loan with me. So I am not qualify for this $250 gift card. I go to the website to try to contact the phone is hand up when I try to ask for manager and I chat online to see if I can contact with manager or someone regarding this. They are also ask my name, phone number and email then know the story then disconnect me from the chat.
Thank god that I am not going the loan with them or if there is anything wrong in the future, they will denied or change answer. Also they will not pick up my call. If there is 0 star I will give to them that but I have to give them. I write this to let you guy know my experience with Quicken Loans Inc and be careful to do loan with them or give them your social security. I don't trust this guy at all.
As a Real Estate Agent, I cringe when buyers come to me with their pre approval letter from Quicken Loans. I have never once had a good experience getting a deal closed with them! It’s also been terrible and today two deals just fell through because of them. First off they lost, yes they lost the first appraisal!! So they had to order a new one. We had to do a two week extension. Then they kept asking for letters of explanation for things they already were aware of so waiting till last minute was beyond me. We didn’t not make our contract date came and buyer was sick of it and didn’t want to extend anymore. Seller was devastated 'cause their new build job depended on quicken! Never ever ever would I recommend them!! Then when you try to call them you get transferred and on hold. Go local when you get a mortgage. Someone where you have their direct line and they work hard for you.
Quicken Loans Company Information
- Company Name:
- Quicken Loans
- United States