Features

Quicken Loans is the second largest retail home mortgage lender in the United States and the largest alternative mortgage lender. The Detroit-based company is changing the way homeowners shop for mortgages. While traditional banks shy away from mortgages, citing narrow profit margins and tightening regulations, Quicken Loans and other online lenders are filling the space. Already, Quicken Loans has become the number 1 FHA lender in the United States.

What Are Quicken Loans Mortgage Rates?
As of March 2016, Quicken Loans offers rates ranging from 2.957% APR to 3.99% APR depending on whether you purchase a 5-year ARM or a 30-year fixed mortgage.

Borrowers who qualify for VA loans can qualify for rates as low as 2.957% APR for a VA 5/1 ARM. These rates assume a $200k loan and a credit score of 720.

Remember rates can change daily. Click the link above to check Quicken Loans’ latest prices.

What Types Of Loans Does Quicken Loans Offer?
Quicken Loans offers a full range of mortgage loans:
- Adjustable Rate Mortgages
- FHA Loans, including FHA Streamline
- 30-Year Fixed Mortgages
- 15-Year Fixed Mortgages
- Jumbo Loans (up to $3 million)
- Reverse Mortgages
- VA Loans

How Does Quicken Loans’ Work?
Quicken Loans start with an online application. Once you submit the application, you will be assigned a home loan expert who will guide you through the rest of the process. Clients who use Quicken’s Rocket Mortgage service can get a decision in as few as eight minutes.

Quicken Loans will then check your credit. Expect a hard pull on your credit, which will lower your credit score by a few points.
Once your credit checks through, Quicken Loans will send you a good faith estimate of the mortgage’s rates and terms. If you agree, Quicken Loans will underwrite the loan to verify the information provided.

Applicants will also need to have the property appraised to ensure its worth the purchase amount. Once the property is valued, and your information is verified, Quicken Loans schedules an appointment to close the home loan.

What Is Quicken Loans’ Customer Satisfaction Rating?
Quicken Loans has an A+ rating with the BBB and won the JD Power Primary Mortgage Servicer Satisfaction Award in 2014 and 2015. In 2015, Quicken Loans received a score of 834, ahead of Citizens (768) and Capital One (742). It has won J.D. Power’s Primary Mortgage Origination Client Satisfaction Award every year from 2010 to 2015.

How Does Quicken Loans Compare To Other Lenders?
- Quicken Loans is the second largest retail lender in the country and the largest non-bank lender.
- Its mortgages are fast. If you apply for a Rocket Mortgage, you could get a decision in the time it takes a rocket to reach orbit (8 minutes).
- Rates are low. It’s hard to find lower rates, whether you go with a traditional bank lender or another super-prime online lender.

 

 

  • Min Loan
    $25000
  • Max Loan
    $3000000
  • Adjustable Rate
  • Fixed Rate
  • Home Equity Loans and Lines of Credit
  • Hybrid Mortgage
  • Jumbo Loan
  • Reverse Mortgage
  • Primary Residence
  • Estate/Trust/Retirement
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0 votes

1 week before closing Quicken Loans denied our mortgage. They gave us no explanation. I had to deal with 10 different people that didn't have a clue about anything to do with a home loan. Do not use this company.


0 votes

Quicken Loans obviously tries to make getting loans easier for their customers. They took the hassle out of the entire process for me. I was surprised when they obtained my proof of employment on their own, and then blown away when they sent a notary TO ME. They are a great service and I recommend them.


0 votes

I had been declined by another company before I contacted Quicken Loans to refinance my home loan. I was surprised to get approved, and even more surprised at how easy it was. My loan officer was wonderful and kept me in the loop every step of the way. Customer service is also fabulous.


0 votes

I found Quicken Loans to be very difficult to work with. Their application is quite a pain. Also, I gave them information and they kept asking for more, more, more- even though it was the same information. I have an excellent credit score, I should not be having all these issues. I should have refinanced with a different company.


0 votes

I did everything with Quicken Loans online and it was done within one month! I'm amazed that it was done SO quickly! Most of the correspondence was done through email, which was the most convenient for me. I had all my documents ready, so there weren't any issues or delays. Very happy with QL.


0 votes

Quicken Loans is a very incompetent bunch. A loan that should have taken a month took two and a half. They asked for the same documentation over and over again, making my experience such a pain. No one seemed to communicate with each other or with me. I will go with another company next time.


0 votes

Quicken is a great company! I bought my first home recently and got my loan through them. I'm self-employed so I knew verifying my income would be a little challenge, but they did it all within a week. They were extremely accommodating when it came to closing the loan. They were great and I'd highly recommend them.


0 votes

Quicken Loans is an okay company that provides professional services, but they don't really customize their approaches to each loan. My reps constantly sounded like they were reading a script, instead of considering my particular loan situation. It would have been nice if they would have cared about me specifically.


0 votes

QuickenLoans is the BEST when it comes to communication! I received regular updates about the status of my loan. It was amazing to not be in the dark about my home loan. It ended up being a lot quicker than I thought it would be. The people here are great and super helpful. I couldn't recommend them more.


0 votes

After I inquired about refinancing with Quicken Loans, I got call after call selling their services. They also managed to lie to me, saying that they refinance for free. In the end I realized I was charged to refinance. The charge wasn't the issue, just the fact that I wasn't told the truth. I'd give them more stars, but they call too much and lie about charges.


0 votes

QL was very up front about everything when I was refinancing with them. The entire process took the exact amount of time that they had predicted, which was great. All of the people who worked on my loan with me were very polite and courteous. I couldn't have asked for a better loan experience.


0 votes

The second time we got a loan through Quicken we actually had to contact the first loan officer we worked with. He was so awesome the first time around that he ended up helping us more the second time. It was wonderful that he was there for us, even though he wasn't our main loan guy the second time.


0 votes

I first contacted Quicken Loans on their website, and just over two weeks later, my home was refinanced. I'm so happy to be saving a little money every month. They made it a quick process and kept me updated constantly through emails. I'm very happy with Quicken Loans.


0 votes

Quicken Loans is the first company I have ever worked with that gives regular updates on your status. We refinanced unlike other companies we've used, Quicken provided regular reports. It was nice knowing how far along we were. The process was really quick and easy. They are highly recommended by us!


0 votes

My family has moved around quite a lot for work and this has officially been the fourth loan we have gotten for a house. Quicken Loans is by far the best company we've worked with. Of all the other lenders, they provide the easiest service. Everything was done promptly on their end.


0 votes

Quicken Loans truly does work for its customers. It was nice actually being with a company that seemed to care about me and my financial situation. The only change I would make would be to just contact me by email instead of giving me a call, unless something is needed. Other than that, great company.


0 votes

This company is fantastic for those looking to refinance. Both my wife and I have some credit issues from the past, and have been declined from other lenders. Quicken looked past that and refinanced our home loan in about a month. We're saving money and now they have lifetime customers!


0 votes

I am pretty happy with my Quicken Loans experience. They were very easy to work with and the entire process, from start to finish, was smooth. They seem to be very customer oriented which is a good change for a lending company. I am looking forward to refinancing with them to save some more money.


0 votes

I was preapproved for a home loan by Quicken loans. I supplied them with all the documentation that they asked for . Answered all their questions and they told me i would close on my home in 30 days. 3 days before closing they tell me it wasn't going to happen. You would think they would know that sooner.


0 votes

Refinancing with Quicken Loans was a breeze! I don't think it could have been any easier, especially if I had gone with another lender. Even though they operate online, the loan officers and customer service reps here are wonderful. They always respond quickly and have handled everything in a professional manner.


0 votes

QL offers some of the best service for homes loans and refinancing out there. My only complaint is that when we were in closing, there were tons of people working on it. So, we really weren't sure who to contact and then had to go through multiple people in order to find someone who could answer us directly.


0 votes

Something is seriously wrong within Quicken Loans. There is such a lack in communication within the company and it greatly effects the customer. Every time I call I get a different answer. They ask for the same paperwork over and over again. It is very annoying and I would choose a different lender if I were you.


0 votes

I really like the Quicken Loans website. The process of uploading the documents and sending them was more than simple. I contacted them numerous times, and each time, I was met with great customer service. The people there are all very customer oriented. I highly recommend Quicken Loans.


0 votes

Working with Quicken Loans was a bit up and down for me. The first contact was very nice. The second person I worked with was very flaky and never returned any of my phone calls. If I did get through, I was told it was being worked on. The last person, who actually closed my loan, was a pleasure.


0 votes

I wasn't planning on going with Quicken Loans for my loan, but after a friend had a great experience with them, I contacted them via their website. The person I spoke with was super helpful. I decided to continue, and they were just as helpful. Throughout the entire process, they were great to work with. I recommend giving Quicken Loans a shot.


0 votes

Don't get me wrong, I am VERRY happy to get updates about my loan. I want to know what is going on, and obviously don't want to be left in the dark. But I really don't need daily phone calls from Quicken associates who are reading scripts. A simple email would be enough, thank you.


0 votes

I wish the Quicken Loans staff was more knowledgeable about a broader range of subjects. We own land used for agriculture, and they didn't seem to have any idea as to how to process our loan. I'm sure it's not an every day obstacle they run into, but it really frustrated us to have everything go so slowly on their end.


0 votes

I got my first home loan with Quicken, which was a great experience. I ended up attempted to refinance with a different company- big mistake. They obviously tried to take advantage of me regarding fees and closing costs. I got in touch with Quicken once I realized this and it has been smooth sailing ever since.


0 votes

I switched to Quicken Loans after trying to refinance my home with two different banks. Honestly, I was just tired going around and around with them. I knew it had to be easier than that. Quicken Loans was like a blessing in disguise. Switching everything over was easy and they got it done in no time.


0 votes

I wanted to give an online refi a shot, and it was a wonderful decision! Quicken Loan lived up to my expectations, even better than a regular local lender. It was done very quickly without any hassle on my end. Their customer service was also wonderful. Couldn't ask for a better refi from a better lender!


0 votes

The first thing I did with my Quicken loan officer was ask about all the regular fees and deadlines. She gave me everything up front. What impressed me was that everything actually followed what she said. I didn't get any additional surprise fees and my loan closed on time. I am very impressed with them.


0 votes

I love Quicken Loans!!! I can't believe how attentive this company is, and how easy they make everything. I got my original loan with them- no problems. Then I refinanced- again, no problems. I saved so much money using an online lender, without even leaving my living room. So happy with them!


0 votes

My second time refinancing with Quicken Loans didn't go nearly as smoothly as the first time. I had a different rep, so that's probably why. But this time it took much longer and I needed to call in just to get updates and hurry things along. There was a lack of communication. With this lack of consistency, who knows if I'll choose them again..


0 votes

I can't express how much Quicken Loans has helped me out. The entire team really worked to accommodate me, even changing the close date to a time convenient for me. I got the best rate possible with the best service possible. No other company compares to Quicken!


0 votes

I used Quicken Loans for the first time to refinance my mortgage, which was through my personal bank. They processed everything much, much quicker than my bank did the first time around. I was so impressed with their service and customer-oriented personnel that they are my go-to in the future.


0 votes

Quicken surprised us last minute in the best possible way! Right before we went to closing, they managed to get us a lower rate than previously given. It was a pleasant surprise and it just made us like them more. We will definitely recommend Quicken Loans from now on. They did not let us down!!


0 votes

I really appreciate getting the constant calls and emails from Quicken Loans. I liked knowing the status of my loan and what was coming up next. It would be amazing if everything was this easy, especially getting loans for your dream house. I highly recommend Quicken Loan, they're an excellent company!


0 votes

I'm stoked to have been paired up with Quicken Loans on the recommendation of my mom. They truly saved me from making such high payments every month. I've tried in the past to refinance, but those banks only managed to lower my payments slightly. Quicken is definitely worth your time.


0 votes

I can't tell you how many times I had to send the SAME documetns over to Quicken Loans. I mean, really? You guys managed to lose the files THAT MANY TIMES?? I'd get an email requesting the same document a week after I sent it. Please, take my advice and organize yourselves better!


0 votes

Quicken Loans saved us from bankruptcy! High mortgage payments along with some personal misfortunes really set us behind, but refinancing with Quicken Loans was our way out. With the lower payments and outstanding rate we got, our finances are now in order. Thanks so much, Quicken!

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