Quicken Loans Reviews Reviews

1.9 out of 5 stars
33 Reviews

From Borrowers in the last year


Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

2 5

Most Helpful Positive Review

Apr 07, 2018
Cash Out Refi-Fast and Helpful
Kramer123 Borrower

I have been in credit card debt for awhile and the interest was killing me. Everything was maxed out. My credit scores were all in the low 600's. I did not have any late payments or collections on my credit, but what was bad was the maxed out cards. I had about $18,000 total in credit card debt with interest rates around 24% to 27%. I have been in my house 4 years and bought it for $162,000. My neighborhood values have increased a lot and I put about 25k into the house (hence the credit card debt). I began my application with them on March 1st, closed March 31st. My house was appraised for $225,000, which is consistent with my neighborhood recent sales. I was able to pay off all of my credit card debt and got a nice chunk of cash to help as a fallback savings.

My old interest rate was 4.125%. My new one is 4.990%. Yes, an increase but I had to do something and it isn't so bad. It beats what I was paying in interest on my debt.

I did have to pay a $500 fee to get the loan moving which was NOT easy to do. So, that could be a negative. The appraisal was $400 or $500, I cannot remember. It was rolled into the loan.

It was somewhat frustrating getting them the docs they needed. You submit what they ask for and then they ask for it 2 or 3 times again after you already sent it! They also asked for a form that did not exist. Once we got past all of that though, things went smoothly and honestly I cannot complain.

They do keep in contact with you all they way through, which was helpful. They are quick to respond to your questions. Make sure you log in A LOT to see what is next on your to-do list. You will not always get an email notification about new items. So, log in frequently. I was logging in several times a day.

We closed at my home. No out of pocket expenses other than the $500. All my debt is gone. My mortgage payment went up about $200 a month, but it is less the $700 a month I was paying to other debt.

It is a HUGE relief. There was no other way out! I highly recommend them.

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Most Helpful Negative Review

Jul 01, 2018
Take your business elsewhere!
Rhatcher76 Borrower

We recently bought a house for our son to live in while he is in college. We applied through Quicken thinking that would be quickest route since they advertise a fast and easy mortgage process. Wrong! First of all, the communication with the lender was horrendous. Our loan was bounced between various offices, and there was no one direct contact person to communicate with. Every time it was moved, we had to explain the entire situation to a new person. Secondly, my husband and I own a cattle farm and some acreage. This blew their minds and they just could not understand how farm operations and agriculture loans work. They kept calling our farmland “vacant land” and wanted a mailing address for it. The amount of documentation the underwriters requested was completely absurd! After they drug the process out over 60 days, we had finally had enough and decided to just go with another lender. With the new lender, there were no issues at all and they had us closed on the house in 30 days. I will NEVER choose Wuicken for a mortgage loan again. 

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These reviews were written by current and former borrowers in the last year.

Feb 05, 2019

Do yourself a favor and choose a local, reputable mortgage broker instead.

I leave this review to keep others from the run around struggle, super fine print fees, and being nickel & dimed.

I have had a mortgage before with a credit union. Wish I never went with Quicken Loans!

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Feb 05, 2019

Do yourself a favor, and choose a local reputable mortgage broker.

I only leave this review because I have been passed around, stressed out, and nickel & dimed.

I have had a mortgage before through a credit union and wish I would have again.

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Jan 26, 2019
The worst company to deal with.
Martinho96 Borrower

The company is very deceptive, lies to your face and they are very bad at it and get caught.
Do not use this company.

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Dec 27, 2018

Everything went better than planned closed in 25 days from contract signing submitting all the documents requested did take multiple try’s for them to be accepted did have to contact loan officer daily to follow up but it all was done before planned date with  less than perfect credit the pre approval letter does speed the process 

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Dec 21, 2018
predatory lending at it's finest
haley501 Borrower

Please be sure to read the reviews..I only read a few of the "good" ones and decided to go with QL because they were so quick and friendly at first.  I signed my clsoing documents on my first home and was so so excited. After I had celebrated and thought I was a  homeowner QL informed me the contract was wrong. The contract that they offered to write up because "we have a whole team of dedicated experts".  They tried to get me to come up with a much larger down payment because of their mistake and on top of that they raised my interest rate.  It was an absolute nightmare. Luckily I wasn't moved out of my old home and left stranded in a hotel like most would of been.

I will be telling every single person I meet and know not to trust Quiken Loans.

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Dec 14, 2018
Tim Robertson pulled my Credit without p

Tim Robertson pulled my Credit without permission. Beware of this sales person. I did not apply nor did I want my credit pulled.

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Dec 13, 2018
A struggle till the very end

Liars. Scammers. Lazy and not customer-oriented at all.

We submitted all the paperwork and QL seemed to be very cooperative and competitive (rate-wise). Once we started signing papers however, we realized that our numbers were changing and not in our favor. We were told that the numbers discussed on the phone/over email were not guaranteed, authorized or locked in. Every time they would send us new "fixed" paperwork, the dates would still be wrong, lines of information were missing and they expected us to sign on their promise to "fix it" again. When we finally told them we were uncomfortable signing any more incorrect docs, we were sent up the line to supervisors and retention.

They screwed it up even worse and when we told them to cancel everything and close our app, suddenly we were getting our promised rate, the docs were fixed and we were closing. The night before our closing date, the numbers changed again and the closing person had to explain why - i just about walked out of the room. We decided to finish it and not surprisingly our troubles were still not over.

We waited the required 3 days for closing to disbursement and the day i'm expecting a wire transfer, we get an email - not a call; nothing personal; no rush - that our payment will be delayed because I didn't sign one page. WE SIGNED EVERYTHING MULTIPLE TIMES THROUGHOUT THIS PROCESS and they "forgot" to tag one signature line and the closer didn't see it either. WOW - why am i not surprised?! So, I signed the paper, emailed it back and asked to be called. They called my husband at work instead. Then when i found out, I gave them a call to answer my questions. The lady was short, disrespectful and overall a terrible example of handling customer concerns or complaints. She offered no help, no explanation and no time frame. 

Don't waste your time, your money and stress yourself out with these people. Save yourself the grief and if it means paying a couple extra bucks in interest, i'm sure ANY other company would do better than this. I am sad to be leaving our original mortgage company and i have regretted this experience for over a month.

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Nov 06, 2018
horrible option for first-time buyers
bboypht Borrower

Quicken is a scam they are third party the tries to underwrite mortgages has no clue what they're doing they will tell you you are pre-approved for a low amount send you mail saying you're approved for an outrageous amount and in the end tell you you're not approved for anything they use no down payment assistance like chafa for first-time home buyers we hate went through so much trouble with Quicken for months months we called the bank and we are now in the process of closing or mortgage in my opinion go through a bank not some little third-party rinky-dink *** Quicken Loans all they're going to do is screw up your credit and then they will deny you worst experience ever

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Aug 31, 2018
toyinmafe Borrower

They don’t tell you the whole truth and apparently, their loan officers are not required to tell you the whole truth.   They send you all this paperwork to sign and one of them is a deposit disclosures. DO NOT GIVE THEM YOUR CREDIT CARD. If you cancel and go with another lender, you are not getting your money back especially if you sign their deposit disclosures. Unfortunately, this company was the first company that called and I assume all the refinance companies do that. I was wrong because no other company asked for my credit card. Beware of the origination charge! it’s ridiculously high

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Aug 21, 2018
Modelaad Borrower

We were flying thru the mortgage process and then right before closing about a week before..they canceled our mortgage because we had overdrafts and would not take a letter of acceptance. This is after we already had the home appraisal and inspection . They are terrible to work with, you deal with someone new everyday and there is no one on one personal experience. They take forever to transfer your items and they even threatened us when we said we were changing mortgage companies! They said they would deny us and that FHA would keep us denied for a year which was a lie! Save yourself the frustration and go to a smaller lender that will actually get you the house you want!

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