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Most Helpful Positive Review

Feb 27, 2013
refinance
Anonymous Loan Holder

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

Jan 08, 2013
Quicken loans unsatisfied customer
Anonymous

dont you even go with quicken loans . They will make you waste your time. They never put me in the home i was suppose to go in because they gave me a low ball appraisal my offer on the home was 168000. Quicken loans appraisal said the house was only worth $125000. After this happens they will put you on the phone with hermone barb who will convince you that the house is not worth what it is and try to make look for another home and he will ask you for $500(more money) for another appraisal. He did not even want to hear anything about appealing the appraisal. They were trying to give an interest rate of 4.75, with the new mortgage company i ended up get 3.25 big difference.  when i saw the comps they compared my 3 bed room house I was so upset. They compared them too a foreclosure home, a shortsale , the homes were only 1,2 bed room homes with 1 bathroom. When my house was a 3 bed room house with finished basement and 2 full baths. thank god for my lawyer who saw this and said it was wrong, thats what they are there for......I ended up having to go with a real mortgage company and repeat the process but it was worth it because we got the house!!!!!!... we were able to get a new appraisal because quicken loans didn't report it.  I wonder why, I'll tell you why because it was wrong and they knew it was wrong. Imagine how many people they get with this.....at the end of the day they got me for 1000. It was a lesson learned and will never make that mistake again. quicken loans is no good. 

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Reviews (5195)

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Feb 07, 2016
Quicken loans disappoint
Anonymous Loan Holder

Started out good. Ended like a horror story. We kept having changing closing dates, different contact people, and asking for same info numerous times. I would be told one thing by quicken and something different by seller. I confirmed the seller was correct. If you had ONE person to deal with at Quicken it might be okay. I promise I will never recommend  Quicken loans to anyone and I will never use them again.

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Feb 05, 2016
Awesome!
Anonymous

Best re-financing mortgage experience.  I was able to do most of the required paperwork through my smartphone.  You are able to do final closing in your house!

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Feb 05, 2016
The overall process was very frustrating
Anonymous Loan Holder

I applied for refinancing of my 20-year mortgage.  The application process was quick and easy.  It was brought to my attention that a slip and fall lawsuit was pending against my complex, but was told it shouldn't be an issue.  Everything was fine, about a week before closing all of a sudden the lawsuit was an issue.  My HOA provided the info they requested and the HOA had more than enough money to cover the lawsuit.  I was denied at the last minute.  They acted like I would have to bear the brunt of paying the lawsuit if the HOA lost.

Thankfully a client retention specialist looked into the matter and at first I remained denied, but with some additional effort obtained information that resulted in the loan being approved.

I would be very hard pressed to recommend Quicken Loans to my friends.

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Feb 04, 2016
First Mortgage and Refinance
Anonymous Loan Holder

We have gone with Quicken for both our first mortgage and our refinance later on. I can't imagine a better experience. They work really fast and efficiently, all the waiting was for third parties like appraisers and surveyors. The whole process is very well documented online- you can always check and see what's happening and what the next step is. It's great to be able to just upload and e-sign everything up until the closing. I think what Iiked most was how pro-active they were. I really didn't have to take any initiative or call to check up on them. They would call periodically just to update me on what was happening and what the next steps were.They are very professional and engaged. They are very well-organized and really had their act together. It was clear that they knew what they were doing and were very good at it.

I have confidently recommended them to everyone I know that was looking for a mortgage or refinance.

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Feb 03, 2016
Good, but inflexible
Anonymous Loan Holder

I'll start with the good:  the rate I got was excellent, the process overall was more streamlined than other lenders I dealt with, and all of the customer service folks I talked with were extremely helpful, and kept pushing to get the deal done.  I closed about a week ago, and it was generally hassle-free.

The bad:  you MUST follow their cookie cutter process, this is what makes their business work.  I did have significant frustration with being repeatedly asked to login to their app to respond to requests, and to provide them direction and instructions on how I wanted to proceed...only for those instructions to be completely overlooked because they veered from process.  Specifically, I'd mentioned multiple times on the phone and in their tool that I wanted contacted only after 5pm, as I am at work during normal hours of 8-5.  This is where the team being so good at working their process worked against me:  I began to be regularly bombarded with calls during business hours, while I was in meetings and unavailable.  If i didn't answer, they'd hit me in their queue a few minutes later.

Wouldn't have been so annoying if they didn't keep asking in their process if I had any special instructions or preferences.  Would be better to simply not ask in the first place than to ask, and ignore the instructions.  Having said all that, the other bank I looked at sent me a quote for the wrong loan, included portions of paperwork from someone elses loan (with their SSN# and other sensitive information!), and did not return my calls...the bar is low in the refi business.  Quicken is still far better to deal with than most others, and the rates are great...I'd do business again.  I just wish they could clean the process up a bit to go from good to great.

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Feb 05, 2016

Hey, there. My team would like to look into your experience with us. Please send us an email at Emma@quickenloans.com. Thank you

 
Feb 03, 2016
Anonymous Loan Holder

I'm so pleased with my decision to refinance with quicken the team were very helpful and patient. Best decision I could have made

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Feb 03, 2016
Realtor working with buyers.

I have had four purchase loans attempted through Quicken.   Two were able to get done.  Two had to change lenders.  The most recent buyer that tried Quicken was pre-approved, got an approved offer and was dragged around THREE FULL months before we had them change lenders.  The new lender had the deal closed in THREE WEEKS!   I can't recommend a company that does that to my clients.  There are better options. 

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Feb 03, 2016

Hey, there. My team would like to look into your experience with us. Please send us an email at Emma@quickenloans.com. Thank you

 
Feb 02, 2016
Highly Recommend Quicken Loans for Refi
Anonymous

We worked with Quicken Loans on a Refi. The overall experience was amazing. Once we completed our application and settled on a rate with our mortgage rep we were given a customer care rep to help us collect all the necessary documentation. The follow up folks were a little overwhelming with the home calls, work calls, and emails one right after the other but I guess they are persistant. The loan closed very quickly. So glad a company has figured out how to bring the mortgage process into the digital age. And the closing was the fastest one we have ever done and we did it right from our dining room table.

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Feb 02, 2016
BEWARE They want to steal your clients
Anonymous Loan Holder

I'm a Realtor. I suggested a buyer client try the new Rocket mortgage program, just for grins.  After requesting login id's and passwords for all the client's bank accounts, they said in a chat "Since we should be able to approve you I'm also going to have someone from our In-House Realty reach out to match you up with a reputable realtor in your area at no cost to you.  In the meantime, check out G------------f.com.  It provides more real estate listings online than anywhere else.  Let me know what you find!"

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Company Overview

Quicken Loans is America’s largest online mortgage lender. With more than 28 years of experience, they provide world-class client service, and it shows – 94% of clients say they would recommend them.

Quicken Loans offers products such as fixed and adjustable rate mortgages, FHA Loans and VA loans, and custom rate mortgages known as the YOURgage, where you can pick the term of the loan. Powerful online tools, like MyQL andMyQL Mobile, allow Quicken Loans to close the majority of their loans in 30days or less. Not only is Quicken Loans a client favorite, but they’ve been named in the top 10 of Fortune Magazine’s “100 Best Companies to Work For."

Headquartered in Detroit, Michigan, Quicken Loans is an Equal Housing Lender.