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Endorsement Helpful to 14 out of 14 people

I just completed refinancing of my primary residence in Hawaii and an investment property in California. Wow . . . 

Every step of the way QL staff were on top of the whole process. Both loans closed in less than 45 days and were done concurrently. At the time, i was away from home at least half the time; yet, due to the electronic age and cell phones, we were able to keep the process moving via e-mails and phone calls.

I couldn't be happier and will recommend anyone to give it a try.

Jun 14, 2013 Reply
Helpful to 9 out of 9 people

Had a great experience with QL.   Rerfi'd our morgage total of 32 days start to finish.    They put up with my Million questions and leary attitude.   Very happy with the entire process and have recomended my agent many times to friends. 

tufrthnails's review was:    

  Jun 09, 2012 Reply

tufrthnails(6, 31)

Review by tufrthnails

6 Contributions 31 People Helped

refinance Helpful to 14 out of 15 people

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.

Feb 27, 2013 Reply

I to, am a very, very happy Quicken Loan client.  I did my refi in April of 2012.  Total time was 28 days, I had tons of questions, which were always cheerfully answered, AND due to this electronic age, I never even had to leave my home!!  Now that's what I call terrific service.  I will certainly use them if I ever need a mortgage again.  THANKS QUICKEN LOANS!!!!!!!!!!!!!!!!!!!!!!

peggyca's reply was:    

  Mar 28, 2014

peggyca(1, 0)

Review by peggyca

1 Contributions 0 People Helped

Quicken Loan Experience Helpful to 8 out of 8 people

Have been thru many loan processes with primary and vacation home mortgages - this was the easiest and most efficient. The technology used helps this greatly but also the personel service was excellent as well - the supporting folks were readily available to speak to and were knowledgable in the process.

Jun 14, 2013 Reply
Helpful to 70 out of 84 people

Quicken Loans INTIONALLY wasted our time and money.  We were pre-approved for a standard re-fi @ 4% on a 15yr fixed. We spoke with our rep on the phone numerous times and gave her all the necessary information. We were assured EVERY call that it was a done deal. We ended up paying all closing costs upfront on a credit card because we were assured of our approval. for FOUR MONTHS we've been getting jerked around by Quicken Loans.  They keep requiring more info from us and never seem to have a finalized loan agreement for us. Every time we fulfill their obligations to move forward they require some new item from us. This has been going on for 4 MONTHS.

We are going to move on to another loan provider and write off those costs as THEFT.  Quicken Loans never had ANY intention of writing a loan for us. They just want your money upfront.

SCAMMERS.

SuperMattyP's review was:    

  Dec 20, 2010 Reply

SuperMattyP(3, 74)

Review by SuperMattyP

3 Contributions 74 People Helped

Helpful to 39 out of 42 people

Whenever you run across these types of scammers in any industry ALWAYS file a claim with your State's Attorney General office. It may take a couple hours but these claims are taken very seriously and the company MUST respond or be subject to further review leading up to prosecution which can lead to treble damages (three times original damages). I was successful against both Comcast ($2,200) who claimed I never returned a cable box and billed me $300 for it when I actually had the return receipt but the '8' on the receipt for the serial # was recorded as a 'B' in their systems so the units were 'different'. 

I was also successful against GM ($1,200 straight recoup - no treble damages) when a dealer installed all solenoids in my engine when I requested only the one failed one be replaced. I had to pay to get my vehicle back and wait for the money but it was a no brainer when the repair slip says "authorization required for repairs over $500.

At the very least, these complaints are taken VERY seriously by companies and are usually escalated to attorneys. So you will have the comfort of knowing that you spent valuable company $ on them responding to a claim.

You can find your State's Attorney General's office address online. Most claims can now be filed online electronically.

Bubbawirbz's reply was:    

  Feb 12, 2012

Bubbawirbz(1, 39)

Review by Bubbawirbz

1 Contributions 39 People Helped

Helpful to 43 out of 48 people

Its a **** shame but more and more lenders are doing things like that to meet their bottom line.  I got into a similar problem with lending tree's referral bank.  Gave all the info and they told me that we were approved for refi at 15 yr fixed at 3.75% (this was over a year ago when the rates were really low) and just need to send in the doc fee of $75 and $500 appraisal to lock in the rate.  When the notary showed up rates were half percent higher.  I had two choices either get the refi at their "new" rate or walk away and lose $575.  Bunch of *******s.  The worse thing is that when I inquired with my lawyer, its fairly standard for them to do things like that and it would cost me $3500 to litigate them to get my $575.  I'm still steaming about those crooked *******s. 

valkhashi's reply was:    

  Apr 09, 2011

valkhashi(1, 43)

Review by valkhashi

1 Contributions 43 People Helped

Helpful to 43 out of 49 people

Never pay these guys up front to lock in a rate!  99% of banks do not require that.  If for some reason you are dissapproved at the last minute they will not give you your money back.  I tried to refi with them years ago and they pre-qualfied me and said every thing was good to go all I had to do was pay the $400ish to lock in the rate.  Well turns out that I didn't qualfy for the loan because of income, which I gave them my exact income to start with.  I have done 3 loans since then and I was never asked for money up front to lock in the rate.

nrossi5's reply was:    

  Aug 05, 2011

nrossi5(1, 43)

Review by nrossi5

1 Contributions 43 People Helped

Helpful to 12 out of 14 people

Has anyone reported this company to a government ageny to turn them in, so they can be investigated, it sound like if there is enough complaints about how bad their company is, that the government and state should shut them down and maybe you might even find a Lawyer to do a class action lawsuit, with all of the simular complaint about this company. If I were you I would pursue turning them in, so others do not have to pay for nothing. Getting rid of companies like this it would be better for everyone!

1MeMyselfandI's reply was:    

  Mar 29, 2013

1MeMyselfandI(70, 1219)

Top Contributor

Review by 1MeMyselfandI

70 Contributions 1219 People Helped

Top Contributor

Helpful to 14 out of 17 people

Why would you pay the closing costs prior to getting the loan? You pay only when the deal is completed. If you have paid by credit card you can claim it back through your credit card. State services were not provided

wendlewilkie's reply was:    

  Aug 01, 2012

wendlewilkie(1, 14)

Review by wendlewilkie

1 Contributions 14 People Helped

Helpful to 17 out of 24 people

This is a comment on your obvious lack of knowledge on how refi loans are done, or any loan, for that matter. No company is going to hold a refi rate for you for a year! Since I got a Quicken loan, I know for a fact that the initial paperwork they send you states a finite time period that the loan rate will be good for. I can't remember how long it is, but certainly no more than 30-90 days. A mortgage company (or any company/bank that provides any kind of loan) will always change their rates as the market rates change. That seems reasonable to me. Heck, when I bought my last car my credit union told me that my quoted rate was only good for 7 days!

Further, you didn't pay a "$500 appraisal to lock in the rate". The appraisal fee is to pay the company that did the appraisal for their time and efforts. You need an appraisal before you buy or sell any home whether you get a loan or not, or else you have no idea what it's real value is. And no company is going to loan you money on your house (refi or original mortgage) if they don't know how much it is worth. In addition, an appraisal doesn't last forever, either. Things change, including the value of a home. It goes up and down, so the appraisal will change over time. So you now need a new appraisal, if you think you still want to refi, no matter who you choose to go with.

Misha800's reply was:    

  Jul 06, 2011

Misha800(3, 21)

Review by Misha800

3 Contributions 21 People Helped

Helpful to 5 out of 8 people

Has anyone put in complaints with the BBB (Better Business Bureau) or any goverment agency to complain about this company. If I experienced a problem as all of you had I would turn them in so that no one else would have to go through the headaches that you went through! I would go a few steps further, by going to their face book page and posting negative feed back and also go on to WOT and share your horable experiences, so that others will not go through all of the horror that you all have had to endure! Don't for get about You Tube and other places like Scambook, to post this for others to see. You all have been very helpful and I will make sure I stay clear of this company for everthing! Thank you to all who have posted your experiences, to let others know about them. I do not feel that no one should have to go through that nonsense! I wish you all the best and hope you will never again have to go through this horror and headache again! Warm Regards!

1MeMyselfandI's reply was:    

  Mar 29, 2013

1MeMyselfandI(70, 1219)

Top Contributor

Review by 1MeMyselfandI

70 Contributions 1219 People Helped

Top Contributor

Helpful to 5 out of 8 people

THANK YOU FOR THIS INFO!!!!   GOOD TO KNOW!!!!    I hope you contacted your credit card company AND reported them to the BBB!!!

atruax's reply was:    

  Apr 28, 2011

atruax(2, 7)

Review by atruax

2 Contributions 7 People Helped

Helpful to 4 out of 7 people

they said they had applied a year ago and that's what happened not that they waited a year.

xshepherdladyx's reply was:    

  May 29, 2012

xshepherdladyx(1, 4)

Review by xshepherdladyx

1 Contributions 4 People Helped

Helpful to 5 out of 10 people

those loan costs that you put on your credit card have affected  your score and your debt to loan value.  I would definitely affect your numbers and might ability to get a loan.   If you change your debt or credit score, almost all loans require redoing the loan.  YOU changed your numbers and requirements.

I am not currently with Quicken or any other mortgage company

Pook1234's reply was:    

  Jul 05, 2012

Pook1234(1, 5)

Review by Pook1234

1 Contributions 5 People Helped

Helpful to 7 out of 14 people

Hello, I'd like to look into this for you. Please send me an email at NicholasNavetta@quickenloans.com with some more information.

QuickenLoans's reply was:    

  Apr 03, 2013

QuickenLoans(199, 211)

Top Contributor

Review by QuickenLoans

199 Contributions 211 People Helped

Top Contributor

Helpful to 3 out of 8 people

The $500 initial processing fee that everyone is talking about goes to appraising the property? You for real right?

Mainguyen's reply was:    

  Jun 27, 2012

Mainguyen(3, 9)

Review by Mainguyen

3 Contributions 9 People Helped

Helpful to 3 out of 10 people

Hi, I'm sorry you feel this way.  My name is Nick and I work at Quicken Loans.  I can look into this for you.  Send me an email at NicholasNavetta@QuickenLoans.com.

QuickenLoans's reply was:    

  Jan 18, 2013

QuickenLoans(199, 211)

Top Contributor

Review by QuickenLoans

199 Contributions 211 People Helped

Top Contributor

Our experiance with Quick N Loans Helpful to 7 out of 7 people

Comming from Chase, who has no moral fiber and uses the " Its not our fault" in all their transactions, Quicken Loan was is a breath of fresh air. From the first call to the last we were always kept up to date on every step. They performed the task we wanted and never varied. Their, for all up front proceedures, knowledgeable and compident service.

I don't under the human sicie who contintully complain about a product or service and continue ermersed in it. They are people who like to complain. Move on. We are only here for the blink of an eye try to enjoy it for in the end, none of this matters.

Jan 16, 2014 Reply
They are good Helpful to 12 out of 13 people

Our first dealings with Q went very smoothly.  After having that loan for a couple of years, they (Jack) called us out of the blue to offer a refinance that would be for a longer term and hence lower payment.  The person that called was great.  BUT he did say that alot of these only take 4 to 5 days to finish, since Q has our info on file.  From there we were passed to the Client Care Department.  Shekinah was our contact person.  Our first shock was the time to closing:  instead of 4 to 5 days, she said they were shooting for Oct 21.  This comes to around six weeks instead of 5 days. She would call once a week with "updates".  Almost all of these were not necessary.  She said they were waiting on this form or another, most of which should have been in our file.  Guess it's a long trip across the hall to get these documents.  E.g., homeowner's insurance policy - all the banks that I ever worked for required these updates.  We finally did close on 10/21; although my wife had to email them to get them in gear.  Her boss got a fax the Friday before Monday's closing to request employment verification.  Nothing like waiting for the last minute.  In summary, Q is good, they just aren't as quick as they (in our case) tell you to start with.  

Sorry about the bf type - must have clicked something to make that happen.

krazydavet's review was:    

  Nov 06, 2013 Reply

krazydavet(1, 12)

Review by krazydavet

1 Contributions 12 People Helped

Helpful to 3 out of 3 people

Waste of time!!!!

blueboy6319's reply was:    

  Jan 24, 2014

blueboy6319(1, 3)

Review by blueboy6319

1 Contributions 3 People Helped

Understand the mortgage process Helpful to 12 out of 13 people

Obviously, most of the negative reviewers don't understand the moertgage loan process.  They complain about procedures and fees that are required by the federal, local and statre governments, that none of the individual companies have any control over. 

I've had a number of mortgages, and have helped many friends and family with gettting theirs, or refinances.  I've dealt with several different banks and mortgage companies both online and in person and have spent a lot of time in the past always searching for the best deals and the easiest procedures.   From my experience, I can say that without a doubt, Quicken Loans was the easiest, fastest and lowest cost I've ever done.  The rep I was assigned was knowledgeable, friendly and extremely good with his communication as to the progress and the forms needed.  Contact was both by email, and by phone, and I never had to leave the house.  Took less than 5 weeks, from first contact to closing.

It was easy, low cost, fast and for the first time in my dealings with mortgage companies that gave me a real sense of professionlism and a desire to please the customer and not the company.  

Agelesswings's review was:    

  Oct 20, 2012 Reply

Agelesswings(1, 12)

Review by Agelesswings

1 Contributions 12 People Helped

Helpful to 6 out of 7 people

I co-sign this statement alot of the negative reviews are basic mortgage procedures.

joetaraouat's reply was:    

  Apr 08, 2013

joetaraouat(2, 7)

Review by joetaraouat

2 Contributions 7 People Helped

Helpful to 2 out of 2 people

Well I believe you need to get some more experience.  Try Box Home Loans.  May be Quicken loans used to be good but they have gotten to big and you get way to many stories from employees that are most likely not qualified to handle a purchase on average above $150,000 or a refinance. that's a lot of money and it should be handled delicately. 

You claim that most of the negative reviewers don't know that mortgage process.  Is that not the job of the professionals at Quicken Loans job to explain, educate and make easy for the average "Joe" to understand?  Think before you bash people you don't know.

WickedHuge's reply was:    

  Jan 26, 2014

WickedHuge(2, 4)

Review by WickedHuge

2 Contributions 4 People Helped

Quicken loans unsatisfied customer Helpful to 64 out of 77 people

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. 

Jan 08, 2013 Reply
Helpful to 19 out of 26 people

Has anyone put in complaints with the BBB (Better Business Bureau) or any goverment agency to complain about this company. If I experienced a problem as all of you had I would turn them in so that no one else would have to go through the headaches that you went through! I would go a few steps further, by going to their face book page and posting negative feed back and also go on to WOT and share your horable experiences, so that others will not go through all of the horror that you all have had to endure! Don't for get about You Tube and other places like Scambook, to post this for others to see. You all have been very helpful and I will make sure I stay clear of this company for everthing! Thank you to all who have posted your experiences, to let others know about them. I do not feel that no one should have to go through that nonsense! I wish you all the best and hope you will never again have to go through this horror and headache again! Warm Regards!

1MeMyselfandI's reply was:    

  Mar 29, 2013

1MeMyselfandI(70, 1219)

Top Contributor

Review by 1MeMyselfandI

70 Contributions 1219 People Helped

Top Contributor

Helpful to 2 out of 2 people

As a loan officer not affiliated with quicken, I have to defend them here in regards to the appraisal process. Quicken loans does not pick your appraiser, they have to defer to a 3rd party to pick your appraiser per the dodd frank act of 2008. As far as that goes, they have no control over how the appraisal process goes - and once they get the piece of paper with the value on it, the dispute process is even more laughable. We have to send back to the appriaser through the 3rd party that we don't agree and they have to agree with us that they were wrong... that's like telling the teacher his test is wrong!

The fault I can see here is that quicken should of explained better how the process works so you understood.

FriendlyLoanOfficer's reply was:    

  Mar 19, 2014

FriendlyLoanOfficer(1, 2)

Review by FriendlyLoanOfficer

1 Contributions 2 People Helped

Helpful to 2 out of 3 people

They should have to pay you your money back, I don't know why the goverment lets these loan companies get away with taking advantage of people giving out all there private information just to be taken advantage of.

Hardley09's reply was:    

  Mar 09, 2014

Hardley09(1, 2)

Review by Hardley09

1 Contributions 2 People Helped

Helpful to 7 out of 23 people

Hi, Im sorry to hear about this.  Is there anything I can do to help?  Please send me an email at NicholasNavetta@quickenloans.com with more info and I will look into this for you.

QuickenLoans's reply was:    

  Jan 09, 2013

QuickenLoans(199, 211)

Top Contributor

Review by QuickenLoans

199 Contributions 211 People Helped

Top Contributor

Helpful to 27 out of 32 people

 Ripoff!!! Stay Away from Quicken Loans, Far, Far Away!! I tried to get a refinance loan from them, got the preapproval and met all their paperwork requirements. After being told several times I was good to go, the underwriters told me my debt to income ratio was too high. Why wasen't I told this in the early part of this process. My income to debt ratio did not change. They got my 500.00 and I got screwed. A real mortgage bank took care of me after this ripoff from Quicken!!!

Indian02's review was:    

  Jun 03, 2012 Reply

Indian02(1, 27)

Review by Indian02

1 Contributions 27 People Helped

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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.

Company Details

Quicken Loans

  • Established: 1985
  • Headquarters: Detroit, Michigan
  • Website: www.quickenloans.com
  • Products: Home Equity, Mortgages
  • Assets: NA
  • Available: By phone and online; nationwide

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