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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 (5529)

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Jul 25, 2016
Lack of Communication was Stressful
Anonymous

During the loan process my husband and I worked with four representatives. Angelo was very responsive and worked along side of us. He was very efficient. Elaina was the next person and made our experience very stressful. She told us our appraisal was complete, then after two weeks of emailing back and forth she told us the appraisal was not completed. Due to her lack of and inaccurate communication my family was on the verge of not having a home to live in. Travis then took over the process, as we became frustrated and considering moving to another loan company. He found the "incompleted" appraisal (which Elaina said was not done yet) and was able to get the process back on track. Thanks to Travis we made our closing date. 

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Jul 25, 2016
We were approved, but there were hiccups
cwheel70 Loan Holder

My husband and I applied for three previous loans, and they all ultimately fell through.  Most often, issues came up that were just plain wrong, or we heard excuses aftet excuses.  I applied through quicken loans as a last resort, not expecting an approval.  To be fair, part of the problem is the rat hole that is the State of California.  They have ridiculous laws and policies that really serve no purpose other than to make life miserable in this state.  

Anyway, we were approved, and it was just about 50 days from application to closing.  The most frustrating thing about Quicken loans is that our appliction seemed to get passed around from person to person.  Each step along the way, every person had questions.  I found myself answering the same questions over and over again to different people.  Often times, I'd hear different answers.  At one point I was told my loan wouldn't go through.  After a few minutes on the phone, the agent, paused, and said, um, ok, hang on......Ok, please forget this conversation, everything is fine.  This was not what you want to hear after waiting for nearly 40 days, and haveing other loans fall apart.  

As I said, we were approved at 3.75%, which I feel is a great rate, considering my husband and I have some credit issues after we both lost our jobs in 2008.  As for the closing costs, they were listed at about $9000, but they refunded half of that back to us.  Considering the problems we had with other lenders, we are more than happy that we were approved.  We were willing to accept higer fees, and costs, just so we could get our fiances back on track.  

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Jul 24, 2016
HORRIBLE
pofo76 Loan Holder

Quicken loans is the worst choice you can make when it comes to buying a first home. Like many others me and my girlfriend were pre approved but watched our dream home slip away. We went to put an offer in and didn't even hear from our agent for 2 weeks. Once our realtor knew we were using quicken loans she didn't want to work with us...until we got a new lender. Her words " quicken loans is the worst. 9 times out of 10 they fall through last second." Not to mention the rates are awful and closing costs with them are obserd. My advice to anyone buying a new/first home would be use a smaller bank. Quicken loans is a joke. You will be let down. I am just one of many. 

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Jul 23, 2016
Anonymous

Treated badly on the phone. Then given a very large refinance fee compared to other lenders. Read all the good reviews and thought I would have the same experience. Far  from it. 

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Jul 22, 2016
Anonymous Loan Holder

Efficient process, friendly service, consistent information, follow-up and support, and got us a great deal on our home; we are very happy. 

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Jul 22, 2016
Excellent, fast and easy!
Anonymous Loan Holder

Excellent, fast and easy!  Very competitive rates, great service.

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Jul 22, 2016
Fast Great Service
Anonymous

Being a firat time buyer I hate no idea what to expect, Quicken Loans was there to hold my hand through the entire process. They were always there to answer my questions.  If I had known buying a home could be this easy, I would have done so years ago.

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Jul 22, 2016
Compassionate and efficient!
Anonymous

The team worked to keep me informed and treated me with respect and kindness, very unlike working with the bank that held my loan previously.

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Jul 21, 2016
Smooth, easy, fast...
Anonymous Loan Holder

Check out Q/L....

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Jul 20, 2016
thay are thiefs ,thay take your money.
Anonymous

they will promise you a loan and then run your credit score many times, wreack youe score then renig on loan .

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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.