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Quicken Loans

in Mortgage Refinance

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Quicken Loans

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in Mortgage Refinance

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Overview

Where does Quicken Loans do business?

Quicken Loans is a direct lender based in Detroit, MI. The company was founded in 1985 and offers mortgage refinancing to borrowers in 46 states across the USA (and Washington, DC).

What range of mortgage balances will Quicken Loans refinance?

Mortgage refinancing loans start at $25,000 and go up to $3,000,000

What is the maximum loan term for a mortgage refinance via Quicken Loans?

The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Quicken Loans offers mortgages refinancing with terms ranging from 8 to 30 years.

What is the estimated funding time for a mortgage refinance with Quicken Loans?

Quicken Loans will typically approve (or deny) a mortgage refinance application within 0 hour and fund mortgage refinances within 30 days of approval.

Does Quicken Loans charge a mortgage origination fee?

Yes, Quicken Loans may charge a loan origination fee.

What mortgage programs does Quicken Loans offer?

Quicken Loans offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
  • Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
  • USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
  • VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.

What property usage types does Quicken Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Quicken Loans allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Contact

  • Headquarters
  •   1050 Woodward Avenue
    Detroit, MI 48226 USA
  •   Visit Site

Other Services by Quicken Loans

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 46 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arkansas
  • California
  • Colorado
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Age
18
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Property Type
  • Multi-Family Home
  • Single Family Home
  • Townhome
Dollar Amount
Loan Amount
$25K - $3M
    $0 $100M
Integer
Loan Term (Years)
8 - 30
    3 40
Percentage
APR
3.875% - 5.526%
    1% 18%

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