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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 (5415)

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May 30, 2016

Worst experience ever. I was harrassed...banker called my cell, work phone, real estate agent and seller 3 to 4 times a day. I dont understand why he kept bugging...i kept him in the loop. We didnt have a offer accepted yet and he was bugging all of us. This was very annoying...we exoerienced this on a daily basus. I also asked ql banker for a estimate so i can compare rates from other lenders to get the best deal and he got mad and withdrew my loan application. He never provided a estimate via email. I decided to go with another lender. Im no longer stressed. ☺

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May 26, 2016
Disaapointment
roger2001 Loan Holder

When I first got the mortgage, I would never recieve calls back, and would constantly be told my agent was busy. They slowed up the process so much, the seller almost pulled out of the deal. After closing, it changed completely. They constatly (3 or 4 times a month) would try to sell me on refinancing my house. Now that I am refinancing with a different company, they are throwing up road blocks to force themselves to talk to me and, yet again, sell me something.

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May 25, 2016
Horrible Experience

Ugh don't let them get ahold of your phone number!  I got a quote from Quicken Loans while comparing mortgage rates, and it was such a terrible experience.  After filling out the preliminary paperwork, I got 7 phone calls from various Quicken Loans mortgage consultants while I was at work.  When I left work, I finally picked up the phone for one of them.  It was the most annoying, drawn out conversation that I've ever had.  Clearly the consultant was reading a script, I answered all of the questions that I had already answered on the questionnaire and the conversation was really unnecessarily drawn out.  The consultant said that he'd call me back in half an hour with rates, I said I'm not good at hearing numbers can you send me an email?  He just kept saying I'll call you back and talk you through and I had to say, look I don't want to talk to you unless you can send me an email because this is how my brain works and if you can't accommodate then I want another lender! Finally, he agrees to send me an email when he calls me so I can see what we're talking about as we're speaking.  

Welp, he calls a half an hour later and of course - no email.  I figured fine, I'll just hear what their rates are.  I was clear that I wanted a 15 year mortgage, and he gave me 30 year mortgage rates.  I asked for 15 year mortgage rate and he said (in an irritated tone) "As I said earlier, there is no penalty for paying off your mortgage sooner so you can get a 30 year loan and just pay it off  faster".  I said "I am interested in a 15 year mortgage for the lower rate, please get me that rate".  He did, and it wasn't very competitive.  He was very pushing about trying to get me to agreed to proceed with the loan, sign the documents, etc.  I said I was in the process of comparing rates and not interested.  He kept pushing and I had enough, I said I'm not interested thank you for your time.  

He continues to call, after telling him I'm not interested, I've blocked the number.  He e-mails, I marked them as spam.  Now, I'm getting calls on my business line from him (he may have gotten it from my loan paperwork, but I certainly did not give this line as a contact number).  

So, to sum up - HORRIBLE EXPERIENCE!!! I would go with any other lender on the planet over these guys, even if their rates were great, but honestly they're not good rates.  They try to sell you on putting less than 20% down (even though I had the cash) and I think they work some no PMI, but you're paying an obscene rate to get that.  They're like a payday lender, preying on people who aren't financially savvy.  Stay away!

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May 24, 2016
The ole Bait and Switch
Anonymous

I applied for a home loan and was approved for a conventional loan. After suppling them with all the paperwork and spending about a month looking for a home I finally had an offer approved. I was excited and quicken said they needed a bit of time to finish up the loan. 2 weeks after the offer they called stating that couldnt do a conventional afterall....and would switch me to FHA. They said it was no big deal and would make sure everything was taken care of and I wouldnt need to lift a finger because of the change. I should of quit there. Thier home appraisal came 10,000 lower than my offer. All of a sudden I need to come up with 10000 more and when looking at their redisclosure packet the they upped all of their charges so the cost per month was more even though the loan was less. I notified my realitor asking what was going on sense they wouldnt give me answers....TURNS OUT HE WAS NEVER NOTIFIED. Now im scrambling to get with another realitor to get the conventional loan I know I can get and save the deal. 

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May 24, 2016
Affordable
Anonymous Loan Holder

It was a great experience

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May 24, 2016
I want to punch nick in the face
Anonymous Loan Holder

Look somewhere else

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May 24, 2016
Anonymous

Do not waste your time with these bunch of losers! You talk to 50 people during the process and all they do is blow smoke up your butt. We were refinancing and our home was appraised in 2013 for 150,000. They sent a guy to appraise it this time and this guy was rude, demeaning and condescending. He appraised our home for 114,000!!! We even added a fifth bedroom and partially finished the basement! We disputed the appraisal. So... The cash back was drasically reduced like by 18,000!!! Why refinance if you can't do what you want to get! In addition closing costs went from 2000 to 4000!!! In addition the cash back included our escrow account! Even our loan % changed!!! They do not follow what they initially promised you!

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May 24, 2016
Pleasant Expierence!
Anonymous Loan Holder

We got a great interest rate. Everyone was very helpful and pleasant. I would recommend them highly.

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May 24, 2016
Bad communication not forthright.
Anonymous

I was given incorrect information that if not checked by another party would have cost me 1000s of dollars. Still waiting for a refund of an initial deposit. Don't be to quick to give them any money.

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May 24, 2016
Very positive experience!
Anonymous Loan Holder

The process was very easy and everyone was very nice and helpful!

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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.