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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 (5594)

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Aug 24, 2016
Too many cooks in the the kitchen
Anonymous Borrower

The mortgage bankers and the upfront is great. The underwriting and process after the mortage banker is a joke. They act like they are working, but they are just moving paper from desk to desk. The company and the customer service is great, but the communication between the workers is the worst i have ever experienced.

They need to figure this out.

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Aug 23, 2016
Excellent Service and Good Product
Anonymous Borrower

I went through Rocket Quicken and they paid a lot of the fees and everything promised to me was exactly executed.  I would highly recommend Quicken

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Aug 23, 2016
ShelleyE45879 Borrower

It's so easy!  I had heard so many mortgage loan horror stories. I was certain that I would not be approved and then I WAS!  Kenny Wood started me out on the right track and told me exactly what to do.  When Macon Gore finished up with my loan it went smoothly.  No complaints, I mean how easy to do everything on line and to be able to check as often as I wanted, for updates.  Extremely professional and very kind people throughout. 

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Aug 22, 2016
Very convenient
Bobloblaw36 Borrower

I was on the fence after reading all the reviews about Quicken Loans. The application was very fast, uploading documents on their website was a breeze and everytime they needed something else I received an alert on their iPhone app. Once the appraisal was done it took quite a bit of time to close the loan and the communication tapered off as the loan got closer to closing. I emailed everyday and they were great getting back to me, unfortunately they tended to say "we're in a waiting pattern". All in all I would totally use them again and I love the mobile notary that came to my work to sign all the closing docs!

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Aug 22, 2016
Painfully slow and unending process
rubuss42 Borrower

Was in the process of finishing the loan, but they kept on needing more and more documents. During this process, the closing got pushed back another month. Almost 2 months into and couldn't take it anymore. The "quick" in Quicken Loans is false advertisement. Appraisal also came back MUCH lower than expected, which now we have to pay for, because of the unending documents needed and slow process. Very disappointed. Talking to a person face-to-face is much more easy. 

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Aug 22, 2016
Great People to Work With
Anonymous Borrower

The work well with my and my working situation. They accomaded for my work schedule. Very Informative, answered questions when I needed the and quickly. Highly recommended.

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Aug 20, 2016
The long 3+ month process got me a Refi
Anonymous Borrower

You must be patient and organized, because it will take nearly 4 months and you will be interacting with as many as 4 or 5 different skilled Quickenloan Finance people who will need different things. In hat time you will probably need to re-submit bank statements to keep your application up to date. In the end you get a good Refi loan and rate.

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Aug 19, 2016
Anonymous Borrower

Fairly simple...straight forward. People have to understand a mortgage or refinance isn't like going to the store and buying a loaf of bread. Takes a lot of paperwork and doesn't happen overnight. Quicken made it easy with uploading documents and the message board to communicate with their representatives. Very pleased. Closer comes to your home. Overall great experience. 

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Aug 19, 2016
Great experience.
Anonymous Borrower

Refinancing was a breeze with quicken.

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