Quicken Loans Reviews

4.3 out of 5 stars
473 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.

Apr 25, 2017
awesome
Anonymous Borrower

extremely fast

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Apr 24, 2017
Easy and Fast, it was a breeze
Anonymous Borrower

The process was much simpler and fast than we had anticipated. 

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Apr 21, 2017
Mortgage refi
Anonymous Borrower

I was surprised how easy it was! I was very Leary and scared at first but they have done a great job! Closing only 2 weeks after I applied! Just check the Myql often and update fast and it will go fast. I ended up paying 1500 less in closing than they quoted!

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Apr 21, 2017
Got preapproved & closed in 2 months
Anonymous Borrower

VA loan - the process was quick and thorough.  They required a lot of up-front paperwork, questions and process, but that made the closing process seamless.  The MyQL is probably the best feature to be able to talk to the loan agent and get very prompt responses to questions and concerns.

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Apr 21, 2017
Quicken loans is amazing
Anonymous Borrower

For a internet morgate company i was suprised at how easy and organised quicken loans is to work with awesome team awesome results

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Apr 20, 2017
Super low rates, great customer service!

All paries involved (myself, my realtor, seller and seller's realtor) were all pleased with the attention Quicken gave my loan. Closed 3 days earlier than my anticipated 30 day settlement because of the hard work they put in to accomodate my wishes.

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Apr 20, 2017
FHA
Anonymous Borrower

Easy process.

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Apr 20, 2017
Easy for a first time buyer
Anonymous Borrower

I never thought I would even qualify to buy a house, and as a first time buyer, I had no idea what to expect, but Quicken made the process easy and walked me through every step.

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Apr 19, 2017
zero
Anonymous Borrower

they are horrible never use them!

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Apr 18, 2017
Smooth, with excellent customer service
Anonymous Borrower

The whole process was very smooth, every step was explained and communication was perfect. 

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