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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

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 (5670)

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Sep 27, 2016
Not good for VA/waste of time/ believe m

We started our pre approval onJuly 2016 . We found a beautiful house and we started the process in August which is okay with us because we are planning to move on October 2016. We have all the documents that they need. First we have multiple agents who is taking care of us which is very confusing on their part and my part. Our credit was at least 680 but they said we are at 638 and they want it to get at least 640 credit score which is okay. So they told us to pay off some credit card which we did as soon as they told us to pay some credit cards. Our credit inquiry from quickens is like maybe 10 times which is ridiculous. So we have been going back and forth with them for almost 2 months then comes first week of September they sent us an email that we are not approved. We end it up going with preferred lender . Gave all the documents they need and within like 2 weeks everything is good to go. We closed the house today. 09/27/2016 with an amazing lender. I don't really know where you get that JD power survey, that is garbage. Quickens is garbage. Please do not waste your time with them believe me, you will waste your time, your energy and your effort. Go to small lender or local one they are so much better than this garbage company.

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Sep 27, 2016
Very user friendly
Anonymous Borrower

It was a very painless process.  My wife and I refinanced for what we had left on the house (18 years) at a lower rate and saved around $60.00 a month.  I would recommend Quicken Loans to anyone.

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Sep 26, 2016
Easy to apply, easy to close.
jimmyapp Borrower

I opted to go for the conventional loan, very easy to convert from the FHA that I was originally offered. 

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Sep 22, 2016
Predatory lending
Anonymous

If there was a way to post zero stars I would! Quicken Loans is a TERRIBLE COMPANY! Buyers do your research! This company works like a used car lot. Predatory lending at its best!

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Sep 21, 2016
Terrible processing
Anonymous

They ask for the same docs over and over and have no common sense. They had my tax returns for over a month and waited until 3 days before closing to delay because they needed proof I paid the taxes I owed for previous years. That should have been discovered up front. I had to stay with in laws for a month due to this delay. Such idiots!

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Sep 21, 2016
Refinance
Anonymous Borrower

Very smooth process.  Everyone I came in contact with was knowledgable, helpful and friendly.  I would recommend Samuel Selker.

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Sep 21, 2016
Preditory Lending
Anonymous

Quicken Loans is nothing but a group of sales people that will tell you the world!  They will promiss low rates, no closing costs, everything is always "no problem" .  Until the appraisal comes in and it is lower than any house around you has sold for.  Comps are not what they show you to hook you in.  Now you are out the $500 for the appraisal unless you sign into one of there mortgages.  Poor customer service!  Buyers beware!!!

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Sep 21, 2016
FHA refinance -
Anonymous Borrower

this is my 2nd refinance with Quicken Loans and both times, they made the process move along with ease.

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