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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 (5467)

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Jun 24, 2016
First time buyer.
Anonymous Loan Holder

The process did take a little longer but overall it was a great experience. Will definitely use Quicken again. Also the customer reps were amazing to work with!

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Jun 23, 2016

The credit card I used to create my profile was compromised, somebody on the east coast maxed it out. I live on the west Coast. It's a mess. I just hope they don't have my SS number. 

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Jun 22, 2016
A very professional experience
Bewitched64 Loan Holder

I am so happy that I decided to refinance my home with Quicken Loans. The process went smoothly, I was able to view all of my documents online and my mortgage professionals returned my emails and or phone calls within a 24-hour time frame. I cannot say enough kind words about the folks at Quicken Loans!

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Jun 22, 2016
Death By A Thousand Paper Cuts
Anonymous Loan Holder

Instead of Rocket Loans it should be called Groundhog Day Loans. Every day they ask for the same things over and over again. I have been transferrred to 4 different "experts" or "specialists" in the past month. You are made to feel like a number by these people. It's not even like dealing with real people. When you call you don't get a call back until the next business day, emails take even longer for responses. I am very disappointed with Quicken. 

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Jun 22, 2016
Process was quick and efficient
Anonymous Loan Holder

There were plenty of people that were able to handled questions quickly and clarified alot of concerns we had to get set up with a refinance. We had a near perfect credit score and would have thought we would have been able to get a better percentage rate, but the housing and mortgage industry is what it is. I would definitely recommend Quicken for someone in our situation-needing a simple refi. We didn't have a ton of debt to pay off, had plenty of assets, but our mortgage pmnt was sky high. 

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Jun 22, 2016
15 year refi with debt consolidation
Anonymous Loan Holder

Process was too slow. After seeing the "rate lock" of 30 days come and go without hearing from anyone, I was nervous. My paperwork went thru many people before finally closing closer to 60 days than the promised 30. Communication was poor. They also told me that based on the market value, they could offer one interest rate, but if it appraised for a higher value, the interest rate would be lower. It appraised 25,000 higher than the estimate. When asked what my new rate would be, they all of the sudden didn't know what I was talking about. The classic bait and switch. Didn't feel like Quicken earned their money.

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Jun 21, 2016
Nightmare Experience
Anonymous

My husband and I applied for a loan with Quicken to convert our new construction loan into a regular mortgage.  At first things went smooth, but then, after they hired an appraiser who low-balled his appraisal (we had another one done that we compared to their appraisal and submitted it to them as proof, but they wouldn't accept it), they wanted to increase the interest percentange and add PMI to the loan.  Long story short, my husband kept trying to work with them, and we were assured they would make the deal work and they would meet our original agreement with them.  They let this drag on for two weeks (all the time interest is accruing on the construction loan) before finally saying they can't do this deal.   We are a professional couple, and the mortgage payment would be less than 13% of our total income, and they can't do the deal?  I would NEVER recommend this company to anyone.  I wish I could them them zero stars because they don't even deserve one. 

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Jun 20, 2016
Anonymous

Rocket mortgage is nothing more than a scam.

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Jun 20, 2016
Extremely quick, professional, friendly!
Anonymous Loan Holder

I would highly recommend Quicken Loans!

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Jun 20, 2016
They play too many games
Anonymous

They deny you if you shopped around for other loans.

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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.