Quicken Loans

It did'nt! Bait and switch

From the very first call, I encountered a series of very high pressure salespeople who main aim was to get my credit card info to start a nonrefundable application process. I asked many introductory questions since I wasn't sure that Quicken was the right choice. These sales people were not interested in providing rates, good faith estimates or anything without a nonrefundable fee to start the process. That wasn't going to happen! The first woman was extremely pushy and had a ready made response to any objection I had. I was already making up my mind that this was not a healthy two way exchange and I was slowly mentally backing out of the entire process. She would have none of it and continued to call and email repeatedly for a few days. I finally told her I didn't like the tone of the way they did business and she of course had a rapid fire objection to this. I finally told her to stop calling and emailing me as I would be choosing another lender. She demanded to know who and what rates, even though she hadn't provided any of her own! A couple of weeks went by and some gentleman called me unannounced. He claimed to be following up on the inquiry and the pending status. This person also was not interested in sharing any kind of rates or estimates. In fact, after a few questions from me he flatly stated that I was wasting his time and he had a full list of other people he could be talking to. Well, that pretty much ended any chances of winning my business. I imagined a boiler room office somewhere that these very young sales recruits were working the phones to find unwitting targets.

They service is great,very professional and they make it convenient for you by coming to your house.

First of all, Michael B. was very helpful from the beginning. I was hesitant at first, because my bank had made me feel uncreditworthy. Michael was very attentive, listened to my needs and got to work for me, calling or emailing me with my options. He made suggestions along the way, but was not pushy. Amanda was then assigned to me and she was helpful too. They always answered my questions promptly either by phone or by email. Michael was a little quicker, but Amanda got back with me in a reasonable amount of time too. I was always given the option to contact either one of them, which is nice, because people do have days off. My loan went smoothly, and the closing was in my home and was quick and painless. My financial situation is so much better, I cannot thank Michael B. and Amanda enough. I am saving over $1000 a month. I would strongly recommend them.

The first time we refinanced with Q.L., we needed to combine 2 mortgages into one, which helped us to lower our monthly bills. The second time, we had to take out a construction loan with our local bank so we could add some rooms to our house. Unfortunately the bank could only guarantee the interest rate for 5 years, so we refinanced with Q.L. Last year we were contacted by Q.L. to inform us that a lower interest rate was available and we could save on our mortgage bill. We went ahead and refinanced again and are enjoying a lower monthly bill.

Great part at the beginning was the paper work was done over the internet. Next steps were done over the internet. The company was in touch with me all the time and I could call and get a response if I had any questions. Two women came to the house to go through the signing of papers process and they were great. It was done and I didn't have to leave the house..

After waitting, and search our files for dociments, They could not help us out.

My experience was good. It was very easy to do things over the internet and sign things. The only thing I didn’t like is that they require a lot of information like my husband’s death certificate and a certified copy, etc. I will continue to use them in the future.

The value of my home is 2 to 3 times what I owe and my credit rating is excellent. In spite of this, the loan was submitted as an FHA loan instead of a conventional loan. This changed the appraisal process significantly. There were a slew of issues that had to be addressed before going forward. When I asked about these I was told about the FHA/conventional loan mix-up and that it would be changed. I was also told that all the issues would be removed and if I did not hear anything that meant there were no problems. After waiting a number of days, I noticed that nothing had changed. I called and was told an underwriter had to make the changes and they simply had not done anything yet. Again several days passed and I got an email saying there were things that had to be done ? expensive things that did not have to be done when I bought the house. I called and was told that these things would not be removed. When I complained that this was the result of Quicken?s error in submitting this as an FHA loan, I was told they would get back to me. It has been several days and I have not heard back. The long and short of this is that I am out $400 dollars good faith money and I have been jerked around for almost a month. I plan to start over with my bank.

They lied about not charging my credit card

Mr Katz was not willing to give me any type of quote, unless I spent twenty minutes divulging my personal information. I have called 6 other companies and all of them were happy to provide me with a price and rate quote without badgering me for my personal information. In addition, Mr. Katz told me he wasn't a $7.00 an hour employee, but earned the "the big bucks" in order to help people. I found Mr. Katz's attitude extremely hostile, shortsighed and disrespectful. It's obvious he doesn't understand the mortgage business - develop a relationship with your customer first before asking for the business. It's obvious from the many mediocare reviews on this website, Quicken Loans has a lot to learn about customer service and respect. I would never use them. I will be giving my business to Nick Goodwin at EverBank. Mr. Katz can learn a lot from this young man.

We were lied to from the begining. The paperwork was "rushed" for our benefit, they said. This was New Years Eve and we were told we had to have it filed by midnight so it was in that year. I knew a red flag was raised when he wanted to hurry and get this filed that day. He said new rules were taking effect after that day, and it would be a lot harder to get approved. This man, kept telling us, "We're Quicken, we wouldn't do you like that", "We didn't get where we are by doing people like that", "We only want to help you guys, you don't understand what will happen after the first this year", "We're in the position to know things that you can't know" "We'll take the costs out at closing", They should have told us from the beginning they didn't do home improvement loans, not take our money and then deny the loan. We are disabled, our only income is Social Security which goes in our bank on the 3rd of each month. From Dec. 31, to Jan. 04, they had our paperwork filed, an appraisal (so much as it was), $400.00 withdrawn from our account, and our loan denied. One thing is true, they worked fast and we are amazed.

The person I spoke to on an online chat seemed very professional. But, it seemed way too anxious to have me make a $500 deposit. After thoroughly going over my finances he suggested I would qualify for a refinance loan which his underwriters ultimately did not. After the online chat our remaining communication consisted of a few e-mails and 2 phone conversations: 1) he introduced himself over the phone, and 2) he let me know my application was rejected. I was surprised he didn't offer me some alternative as my credit score is over 800 and my finances are good. Instead he just dropped me. A few weeks later I was able to refinance with a local bank that cut my monthly payment almost in half and with an interest rate a full point less than Quicken was offering. Will never try them again.

They have low rates and closing costs, but I would never use them again for the simple reason that they are disorganized, unresponsive and continued to send me the wrong information regarding my closing. I had to spend A LOT of time staying on top of them - essentially doing their job for them. They were very helpful in the beginning, but once I locked in a rate, they tried to shuffle me through the process without answering any of my questions. Very poor communication skills, they could not answer the most basic of questions. They claim to have won a JD Power award for customers satisfaction, but given my experience and the other reviews I?ve read, I find this VERY hard to believe. I?ve re-financed quite a few times and have seen it all, but these guys are a joke and I will never work with them again!!

We had an awful experience as described above.

Closing date is set in a few days. I do believe they will hold up to their terms. The "Customer Specialist" reps are amazing!

I submitted a general query online to refinance my home at a lower rate. Eric from Quicken Loans called. He was very professional and personable and we decided to go with them. They needed a $500 'commitment fee' to process the loan which we paid and were told we were pre-approved for the loan and that it was only a matter of underwriting. Eric was very high pressure and hurried us to get the 30 some odd pages of paperwork done that day so we could lock in the rate. Two weeks later, Eric called and indicated that the loan couldn't be done because our debt/value ratio was too low. He indicated HIS appraiser valued the home at $84,500. The house had been on the market for the past year and two realtors valued the home between $130,000 and $150,000. Zillow and other real estate sites value the home in the same range. AND, we were only borrowing $74,000 so the house is worth more than the loan anyway. When we first discussed the refinancing, Eric indicated that we could only look into refinancing our first mortgage as the property had been on the market in the past six months, so we agreed to only refinance the first mortgage. However, after we were declined, we spoke to a manager who indicated that we needed to pay off the second mortgage in order for them to approve us for a loan on the first mortgage which was a totally different explanation than Eric gave us. Also, our yearly household income exceeds the debt of the home (including second mortgage) by $70,000 and we both have excellent credit. Quicken Loans is just a scam to get a quick $500. If you check them out on the internet (which I wish I had done prior to dealing with them) you will see a multitude of complaints indicating a similar situation. A 'pre-approval' (with the $500 fee) and then a denial, higher interest rate or request for more money. Do not use the company.

We applied for a mortgae with Quicken Loans. We received the pre aproval letter and were told to go ahead and find a home. We contacted a real estate agent who requested a pre approval letter with a dollar amount. She started showing me homes. I narrowed it down to one. We signed the purchase agreement and faxed it to quicken loans. We were told everything was good. My husband was out of state due to work with the federal government so we wanted to close on this home as soon as possible so he would have a place to live when he reached his home station. We gave quicken loans money, good faith deposit and title money. We had two weeks until closing when we received a call from Quicken Loans out of Detroit saying we could not get the mortgage! We were floored to say the least! My husband is now living out of a hotel at 390.00 a week. Thank god the kids and I didnt sell the house we are in or we would all be homeless. We dont know what we will do now......

Called on advice of friend to inquire about a home refinance. I have a credit score of over 800, have a perfect credit history and have never even made a single late payment on any of loans, ever. I spoke to a "Ryan" in Arizona who cheerfully told me that it would be "no problem at all" to refinance my home, so I cound lower my mortgage payment. He told me that I had to pay $500 on my credit card in "good faith" money. After charging my card, he called me to inform me that they could not refinance my home! I was shocked. I own a home, a business, $250,000 of a surgical center. I told him I wanted my money back. I also asked why they were refusing the loan and he refused to elaborate, mumbling something about the underwriter, blah blah blah. What in the h*** is going on with the banks?

It started out very well. They were very quick in pertaining with when it first started but at the end of the day it didn’t work out at all. I had to have them put some money into doing repairs and if had known that I had to really invest into the house then I wouldn’t have approved for it. So I couldn’t have gone in approving that money that way.

Nov - decide to try to sell house - called Quicken, loved their products, they mentioned their approval calculator on line to determine how much to spend on the next house and said call them back when we sold (we had no intention to own two houses at once so needed to sell before we got pre approved) Feb - offer accepted on old house - called Quicken, provided ALL the requested info - had verbal pre-approval on a Fri - said the letter we would sent Sat. Sat no news Mon no news Tues no new Wed FOUND NEW PLACE FOR Mortgage April - Quicken called to 'follow up' on their service. I told them the truth, they seemed truly sorry, yet too little too late.

I called back 10 days later to get the particulars of the deal or a currently available one in writing The agent could not find my paperwork. She had called up my credit score, which affects it, and did not even have paperwork. She would not put in writing what the closing costs were to include if they were going to be discounted. She said she would send it itemized if it was not discounted, but not if it was discounted. She would not even put in writing what all was covered if the price was discounted, saying she'd give the price and if it was different as closing I could point out the difference then! This is so wacky and unbusinesslike I can't even believe it! I don't know if this is actually Quicken's methodology or if this was a colossal miscommunication between me and this representative, but it is not like the behaviour of any other bank or company I've contacted.

Within 5 days, I decided to pull out of the agreement due to the 'incorrect' information used to select Quicken Loans. No refund and only pressure from the manager to stick to the deal.

I reached out to Quicken for a refinance quote since I had used them for my original loan. I though it would be the easiest way to handle it, since they had all of the paperwork for the previous loan, which was only 2.5 years ago. Their sales specialists were very nice and very responsive in the beginning, but the whole process got bogged down once the loan was sent to their underwriters. They began asking for proof of ownership for properties I didn't own, just because they showed up on my previous address list in my credit report. These were the type of questions that didn't come up during the original loan. I understand that they have to be more thorough because of the mess the mortgage industry casused in recent years that led to the most recent economic downturn but they had already vetted me 2.5 years ago. Needless to say, they strung me along for a couple of months, which took me past my rate lock period, only to approve me and then say they required more upfront fees to purchase additional points since the rates had gone up. I decided then that this was not the type of company I wanted to do business with. After 2 months of back and forth negotiations that eventually led nowhere, I called another company, whose rates and closing costs were lower, the next day and closed on my loan 4 weeks later.

There were several things i liked about Quicken Loans. I actually did an application via chat on their website. The representative that took my application was an actual licensed specailist and not some random chat operator; he was fantastic to talk to and very knowledgeable about VA loans. Quicken also delivered me the exact loan that they promised, a 4.75% 30 year fixed VA with no down payment. That's why I gave them good ratings for price and professionalism. On the flip side, there are several issues that caused me a great deal of distress. To begin, immediately after I put a contract on my house, my loan specialist handed me off to a processor that I didn't care for very much. I chose Quicken because I liked the specialist and wasn't warned in advance that I'd be dropped like bad habit the moment they got my business. I literally never heard from the guy again. I found it very difficult to get in contact with the processor as each one apparently services dozens of loans applications at a time. Throughout the process, she kept requesting more and more and more documention for all kinds of ridiculous things (at one point she even wanted a copy of the registration from a car I'd sold months earlier). It seemed like there was always one roadblock after another. She was very rude and arrogant and treated me like I was ignorant when I asked for clarification about something. There were also several large delays before the loan could get final approval. I should mention that my purchase contract had an expiration date that Quicken was well aware of. Delay number one was the appraisal... the appraiser they chose took almost two weeks to show up and inspect the house. Apparently appraisers for VA loans have the ability to make an extensive list of repairs that need to done to the property before they'll generate a certified appraisal. Quicken did not warn us about that little surprise. So after another 2 weeks of waiting, literally on the day before we were scheduled to close, the appraiser sent this list of repairs to Quicken. who promptly canceled the closing altogether and notified us that if the repairs weren't made, they couldn't approve the loan. The list was like 20 items long and included painting, electrical and plumbing work. Since the house was a foreclosure and was being sold 'as-is', we decided to make all the repairs ourselves... it was a gamble but the house was such a good deal, it seemed worth it. The repairs were done in 2 days, and it took the appraiser ANOTHER WEEK, to make it back out to the house to inspect the work and finally send Quicken the certified appraisal. A 5 week appraisal is unacceptable and way below the average turn around time, even for a VA loan. Further, no mattter how much I complained to Quicken, they refused to urge the appraiser to move any faster, which was beyond disappointing. So, the day the appraisal was finally submitted happened to be the Friday before Labor Day and apparently everyone at Quicken decided to start their vacations early because no one was available to review the appraisal and approve the loan. Needless to say, they moved the closing back by another two days. Two days later, I was sitting at the title company for over two hours waiting to sign the paperwork, and, surprise surprise, Quicken was unable to get all of the necessary documents to them in time... so after taking the day off work, it was delayed by another 2 days for no apparent reason other than negligence. Because of all the delays on Quickens part (nearly 5 weeks worth), I was in breech of the purchase contract, and nearly lost the house to an investor who was salivating over the property the entire time, AND, I was left with only 1 day to move out of my old house, and clean it before the new tenants moved in. It was very inconvenient. Like I said, they delivered what they promised, but it was a very difficult process.