Quicken Loans Reviews Reviews

4.4 out of 5 stars
453 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

4.5 5
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Most Helpful Positive Review

Feb 27, 2013
refinance
Anonymous Borrower

Day 1. We applied for a VA refinance with Quicken Loans and was told upfront which documents I would need to provide to begin the loan process.

Day 2. I sent by fax, all of the requested documents, plus a few that I felt to be necessary. And sent the required $400.00 security deposit for the appraisal.

Day 3. My online account was available and the documents sections showed complete. I was able to see the loan amount and interest rate(locked in). I was contacted by the person who would be handling the loan from this point on. He informed me of the loan agreement, which was spot on with what Christine had told me.

Day 5. An appraisal was scheduled.

Day 9. Appraisal was conducted. Though the appraisal came in at an average sale in the area amount(used for the loan purposes), it was still about 5,000.00 over the loan amount and the actual value was estimated at approximately 37,000.00 over loan amount.

Day 13. An in home closing was scheduled. And I was able to review the complete contract for the loan. The GFE(Good Faith Estimate) was exactly as described by Christine, my initial contact person. The estimate showed my pay off amount plus my escrow amount needed, which was added to the loan.

Day 17. I received by FEDEX, our complete loan packet which was very nicely put together along with a sealed packet. The sealed packet was stamped, "TO BE OPENED BY NOTARY ONLY", which was found at the closing, a mirror of my packet.

Day 19. The closing was completed in my own home by a very informative woman. She explained every document prior to signing, unlike our current (well known) mortgage bank whom charged us approximately $10,000.00 for conducting the loan. The woman conducting the closing stated that Quicken Loans is by far the best lender she has worked with.

Day 26. My current loan was paid off in full by Quicken Loans.

Day 28. I received $396.98 back from Quicken loans from my security deposit. And we are still waiting for our refund from our ex-mortgage lender.

Our complete experience with Quicken Loans was very fast and friendly. The only thing that was added to my loan amount was my escrow for taxes/insurance, which every lender needs. Quicken paid all closing cost and fees, other than the $3.02 which was applied to escrow from the initial $400.00 security deposit. Our payment is now $300.00 per month lower and we only owe the escrow amount more than we did with our other lender.

Also, my original loan along with my prior refi (both VA) required me to pay closing cost and points, Quicken Loans informed me that VA loans require the lender to pay these amounts at the current rate, 3.75%.

Thanks Quicken Loans!

Idaho resident.

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Most Helpful Negative Review

Feb 23, 2016
Complete lies from this company
peache68 Borrower

Do not trust QL. I was trying to buy a house and received pre-approval from QL. So i paid for the inspection, termite you name it. As we got closer to the closing date, QL wanted me to pay for the appraisal. I refused to do so (it was $600) until I had loan commitment from QL. They immediately mailed me out a loan commitment letter that included a Congratulations package on my mortgage loan. So I paid for the appraisal and waited for confirmation of my closing date. Two weeks came and went, and then I was not contact by QL at all. No customer support, no communication. Finally my real estate agent had to call my original broker who said that the loan was being reviewed in underwriting. HOW??? I ALREADY HAVE A LOAN COMMITMENT LETTER. Well it turns out that my credit score, LTV had never been reviewed and QL felt that I was not credit worthy enough for this loan. I'm out 3500 for the good faith, 1200 in inspections and 600 in appraisals all for NOTHING.

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These reviews were written by current and former borrowers in the last year.

Jun 23, 2017
Awful
oglegavi Borrower

Beware of Adam Hill. He will fabricate your home value numbers prior to the appraisal so that he can structure the loan in his favor. You then are required to pay at least $500 dollars for an appraisal company to come out and spend 5 minutes at your house. A week later after not hearing from anybody from Quicken, the appraiser comes up with a comprehensive 28 page report of your home that the appraiser somehow gathered in the five minutes she was there which consisted of a few pictures she took from her cell phone. After that point, Adam Hill is unreachable. You are then being contacted from multiple people that you haven't dealt with before that attempt to salvage the train wreck that you have gotten into by dealing with them. In summary, run away from this company. This "rocket mortgage" system they have boils down to them taking short cuts and telling you what you want to hear so that they can close as fast as possible. If you're looking for quality and not being treated like a number, Quicken isn't your company. 

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Jun 22, 2017
Quick and Easy
ikecan22 Borrower

I was able to do everything over the phone and online which was a blessing for me, I am very busy and don't have a lot of extra time to go spend in a bank meeting with a bunch of different people. Quicken made it simple they walked me through the process I uploaded the necessary documents and they handled the rest! Customer service was top notch! Thank you Quicken!!

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Jun 12, 2017
great experience
RedSoxAmy Borrower

I applied with QuickenLoans (Rocket Mortgage) on a whim, mostly because I wanted a quick answer as to what price range I should be looking in. I did not regret it; this was the easiest mortgage process I've ever experienced. Even my real estate agent praised them, and said she would be recommending them.

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Jun 09, 2017
DEBT FREE REFINANCE!!
NYJaney Borrower

Everyone that I delt with at Quicken Loans was fast, friendly and efficient. There is no time wasted during the process, like there may be with other lenders. I'm still stunned that I closed my loan in 29 days.

Special thanks to Mike Habbo for making this process as smooth as possible. Thank You!!!!

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Jun 09, 2017
Difficult process made easier by Quicken
Anonymous Borrower

Buying my first home was made much simpler by Quicken Loans.  They explained everything very well and were mostly always avaliable to answer my calls and questions.

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Jun 08, 2017
Refinance
Dawndz67 Borrower

Refinancing out of my parents name into my name

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Jun 08, 2017
A Roller Coaster....
Anonymous Borrower

Applying for a loan is fun and scary... has up and downs. Overall I'm happy that QL in the end approved my loan. There were a few people with quicken loans that were amazing and a few that kept dropping the ball. My lesson from all of this is to ask up front what will be expected of you in writing. What items on a loan you will be expected to pay, in writing. Also, find out that if you give them money.... for anything... and the loan fails... what will be returned. Find people on the PHONE that are willing to be helpful and explain the things you don't understand. I found two people that were very helpful. The key thing with Quicken Loans was that there are a couple of people there that are great at what they and some, not so great... a roller coaster.

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Jun 08, 2017
Mostly Smooth
rclay316 Borrower

Things flow very well. The online portal is very helpful. If you like doing everything online, this is the way to go. Everything was smooth until the appraisal. The appraiser did not take all the pictures necessary and had to return. This was very cumbersome and make the entire process take 2 weeks longer than it needed to be. I think someone dropped the ball. I would use the again. Customer service is very responsive. 

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Jun 07, 2017
Super easy process!
RPKommando7 Borrower

This is my 2nd time using QL for a mortgage.  The process is extremely easy to walk through.  Clint McManus was fabulous!

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Jun 02, 2017
Fha mortgage
Anonymous Borrower

Everyone we dealt with at quicken loans was very helpful and easy to work with. We were denied a loan by Wells Fargo even though we were pre approved for 20,000$ more than our loan amount. We called quicken loans and had a commitment letter with 48 hours. I highly recommend them. 

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