Quicken Loans

It took them 4 months to process the refinance of my condo. It should've only taken a month but took 4 months. We started the process in October 2012 and we didn't close until January 2013. They were hard to get ahold of, use them as a last resort if needed.

Contacted Quicken BEFORE bidding on a HUD home, gave phone rep all information including the fact that we would NOT be able to turn on the water because of a known plumbing issue. We were assured, "verbally" that all would be fine, he stated since we were putting down 20% things were a bit more lenient. We bid and won, then the fun began. First we had to get an appraisal, Quicken selected a company from WAY out of town, he did comps on homes in another town some over 50 years older and not even comparable and determined this newer home was only worth 75K, but did state it would cost over 100K to rebuild. This ended up with Quicken requesting MORE money for down payment to make up the 20% since we bid 99K on the home. Ironically his appraisal also cost almost $500 which conveniently was the amount we provided Quicken for incidental expenses. From what we have since learned, the average price for this type of appraisal is between $350 and $375. Weeks went by with no contact, finally we called and were told the underwriter would not approve the loan because the water could not be turned on, HUD would not allow us to turn on the water since we did not own the home. Classic Catch 22. Quicken would not budge and HUD would not budge. We ended up losing the home, lots of money in inspections, etc. Quicken was quite rude in their responses, followup conversations and emails, stating bluntly, I should have gotten the representatives approval comments in writing, since I had not, they were under no obligation to honor them. I will live in a refrigerator box on the street before I ever do business with that company again!

It is stuck at committee because they don't understand small business and s-corporations. They are double deducting the business related expenses making our ratios out by a couple of percentages from their guidelines. Apparently they don't understand that small businesses have to have their debt guaranteed by the owners. So they are deducting the payments for the debt from our income and then adding it into our payments, throwing our ratios out of whack. Attempting to explain this to them is infuriating. It is clear none of them are qualified to think beyond just dropping numbers into boxes on a form on their computer. We are getting the run around stuck in bureaucratic h*** where no one wants to make a decision or attempt to see they aren't right or even that it's possible we are right. They treat you like they have all the power and you are beggars who if they deem you fit will provide a loan.

I had a HELOC with Charles Schwab for several years. It was turned over to Quicken Loans. The FEMA flood insurance maps in my neighborhood were redone. There is a small creek, about 2 cfs typically about 100 meters from my residential dwelling. The FEMA study was inaccurate in a number of ways, but i remained with the lowest building exposure point (foundation below basement level) several feet above their 0.1 percent chance flood elevation. In December, while out of the country, I got a notice from Quicken that if i did not buy flood insurance withing 45 days, they would buy it for me and "add it to the monthly bill". Upon return, I started the LOMA (elevation correction) process to correct the elevation inaccuracy. Even during this process, it was clear from the maps that my elevations were above the flood elevation. I filed the LOMA a receipt from FEMA dated 6 January. I provided this information to Quicken immediately, along with the elevation information. Today, 21 January, i got a bill from Quicken for $2,650. The amount of insurance they "bought on my behalf" was for a limit of $250,000. The HELOC loan/lien was for a total of $50,000. They are the only beneficiary listed, so they have taken this insurance at a level 5 times their exposure. As a comparison, my neighbor, who was within the mapping but still above the flood level had one year's worth of insurance for $350/annually. I immediately got on the phone to have the loan closed and the lien removed. Of course, this is not simple, even to just pay them off and get them away. There was one Insurance company listed on the Certificate of Insurance. They had never heard of the policy number that was on the certificate. The Broker listed said they had not done business with Quicken Loans for 2 years. I believe this entire process is corrupt. I could never recommend Quicken Loans or doing business with them.

Was a returning customer in good standing with and excellent credit rating having refinanced with Quicken loans twice in the last ten years. An application for a new mortgage for a new construction home was made in late September of 2013. After providing them with every piece of financial information requested ( and then some) and 9 weeks of investigation, my loan application was abruptly canceled two weeks prior to the closing date.. Notification came through a standard e-mail stating the application had been denied with no further explanation. A specific request as to why on my part revealed that ostensibly, they determined that our free standing home was a condominium and that their underwriter, Fanny Mae ,would not purchase loans in condominiums that were not 90 % completed. This assertion proved to be untrue ( aka a lie ) since my new mortgagee, Wells Fargo Bank, approved my loan in less than three weeks and in the course of events stated that they would have no difficulty applying this loan to Fanny Mae if they would so choose. Indeed how would new homes in any condominium get financed until it was 90 % completed? Quicken Loans is self described as a very large national lender that seemingly gets caught up in their own publicity as they continually remind you that they have been selected by J. D. Powers as No 1 in customer satisfaction and that their system/process is engineered to amaze. In reality I found them to be very insensitive to their customer needs, very demanding and unyielding in their communications, both verbal and via inter net. Because they are Quicken Loans you get the impression that they are doing you a favor. A degree of arrogance is evident in their communications, especially verbal communication. After all was said and done they then refused to refund the $500 loan application fee. Based on my experience, I would not recommend Quicken Loans to any one, friend or foe!

They are fast and efficient. They are very responsive. They are competitive with their rates. Tomorrow will be our fourth closing and all of my finances. Everything goes very smoothly. In fact, for this one they called me for a lower rate and had to refinance my house. The customer service is excellent.

It was all done online and on the phone; very easy. They contacted us because they wanted us to refinance and after much foot dragging, we did it. It took about two months from start to ending. It was a no-fee refinance. My first impression of them was that they wouldn't leave us alone until we did something because we kept telling them no but they were very persistent. I mean, almost annoyingly so. I think it's worth mentioning that when we did finally go with them, we were very happy with the outcome. So even though the initial sales was a pretty hard sell, overall, it went well. The paperwork exchange was fairly seamless and not complicated. I don't know how to put it. Essentially, everything could be handled online. Whenever they needed something, I could just scan it and upload it and so there wasn't this mailing back and forth or having to go to any office. It was a very easy transaction.

I had been searching for a refi for some time, but no one asked if I were a veteran. A veteran can get a number of breaks apparently. I haven't decided if I will go that route, but I am checking. It was done over the phone.

When I first started looking for a refinance, I had heard of Quicken's reputation, and the JD Power Awards they had received. After checking into a few other companies, I chose Quicken. They lived up to their reputation, and the awards were well deserved. From the beginning, they explained the loan application process. They kept me abreast of all I needed to provide, helped me gather the information when they could, and kept me notified of where they were inthe process. I received emails, and phone calls with the latest I updates. Quicken's online mortgage site was fantastic. At all times I knew what was happening. We will be closing in the next few weeks and I can say it was a pleasure doing business with them. I would not hesitate to recommend them.

They did an excellent job. I really liked the fact that everything was on line. Of course, this means you had to provide electronic documents (which takes time). I wondered if this would be a problem for people who are not on line at home. They could fax there documents or scan/send. Faxing cost are high these days. For our process I scanned the document and uploaded through their tool. The only criticism I would have was the aggressiveness they have initially to get your documents back. They really push hard to get you to drop everything you are doing, They are trying to close the deal. Also, we were told there would be a 3 day waiting period before the loan funds are available to us (this is a law). But it turned out to be several days longer which allowed them to float the money at the bank. Very impressed with their assistance during the loan processing period. Employees were well training and knowledgeable.

Since 2008 as government regulations have increased condo sales have declined. Recently I had the privilege of working with a couple whose lifestyle dictated they purchase a condominium. I called several local banks and lenders and each one of them declined the loan. Then I called Jeffrey Kriebel (800-226-6308 ext. 31141) with Quicken Loans. Jeffrey was eager to take on the challenge. As we made our way through the loan process Jeffrey had to call on various members of the Quicken team to navigate the regulations. He handled each obstacle like it was just a stepping stone to complete the transaction. My clients are happy because they were able to buy the condo they wanted and I am thrilled to have worked with such a positive professional company. If you are having problems getting your condo purchase financed I urge you to contact Jeffrey Kriebel (800-226-6308 ext. 31141 email: JeffreyKriebel@quickenloans.com) with Quicken Loans. The right lender makes all the difference!

Being first-time home buyers, we were very nervous to start the whole process. Quicken made the process so painless! Justin & Jeremy were fantastic! They always got back to us the same day and were on top of everything. We received daily emails from there giving us the status of our mortgage. Now that our closing is right around the corner we are so relieved that Quicken has been here for us o make the whole process not as scary.

We were preapproved but they kept asking for more things after the application was filed. Every time I supplied them with what they wanted they proceeded to ask for something else. They asked for more money down after the application as the first thing, and from there it got worse. I felt they didnt really want to give me a mortgage so i finally canceled and in the process lost the condo. I have never had so many problems getting a mortgage as i did with Quicken. Do not use them, you are in for a big headache and a lot of lies.

Went great. Over the course of less then four weeks, I was able to get a mortgage with a great rate and with little hassle. I worked with three people during the steps, going from one tier to the next. They contact you via phone, texting, and computer. I have bought and sold other houses and they had the least amount of paperwork during this process. I would use them again.

What I wanted was a quote for a refinance. What I got was nothing. No information. I wanted an interest rate, term, closing costs, etc. What I got was excuses and the old used car salesman tactic, "I have to talk to our manager". The guy I talked to, Blake Bebee, couldn't tell Mountain from Pacific time so he was an hour late for our scheduled phone conversation. After a day to come up with a loan package, he had nothing. When I said he had already wasted enough of my time and he should e-mail me the details of a loan package so I could review them and compare offers, he refused. I will not contact Quicken Loans again and I recommend you avoid them.

Quicken Loans closed my refinance in 3 1/2 weeks. They were amazing and the process totally exceeded all of my expectations. I provided all the information they requested as as soon as possible and because of his the process was lightening speed fast

Despite some skepticism regarding use of an online vendor Quicken did an awesome job. Rate provided was better than other companies and the attention to detail and communications were excellent. Seamless process from start to finish.

Well, eventually I spoke with a much more pleasant person and we got the deal taken care of.

I was trying to get an accurate rate quote but they would not do this. I have perfect credit, lots of equity, good income so I wanted a rate quote based on the best scenario (which is what they were advertising on the radio). They would not give me a quote unless I sat on the phone for almost an hour and did an entire loan application, pulled credit, reviewed income etc. Bottom line is the rate quote on the radio was nothing but a "bait and switch" to get people to call in and get sucked in. Once figure that once they have pulled your credit and done the initial work that you will just keep moving forward even with a worse deal. I would not recommend them to anyone.

Didn't go well. According to the agent, the information I supplied indicated I was a excellent candidate for a new low cost mortgage. However, when I asked the agent to give me a writen estimate for the APR, and closing costs, I was disapointed. I received an e-mail with a interest rate, not an APR, and a lump sum dollar amount for closing costs. When I talked to the agent, I stated my disapointment. He told me if I wanted a detailed document with numbers, I would have to submitt good faith money. I decided this action would prevent me from making a comparison study of other mortgage brookers, so I took Quicken Mortgage off my search list.

They did a lot of high pressure sales. They always wanted more out of me. They had to have personal information from me to do a credit check to make sure I qualify, which was fine but then they billed me $500 to go any further. I was just looking for information but they wouldn't let me do anything with out paying first. I did not like their attitude and I went somewhere else.

I am a Practicing Doctor looking for a simple home refinance since interest rates are low. Saw the commercial that JD Power gave them good ratings, so I thought, why not. Terrible experience. They will ask you for multiple documents, and just when you think you have given everything necessary for a simple decision, they will ask for more again. After I look online about QuickenLoan I saw all the multiple complaints and I decided I am backing out since I did not want this institution handling my mortgage. I called my local bank, they ask for the necessary papers like 2 years worth of income tax return, proof of work and salary,credit report check, and the financing is approved in no time My advice is try your local bank or credit union . Avoid getting swayed by the TV commercial

Didn't use because of high pressure sales tactics and higher rate. When I first asked for a rate they did the old car sales trick and asked what do you want your monthly payments to be. I refused to answer that question and asked for the rate. When I got it, it was higher than other companies. The sales rep who was initially nice and very efficient became extremely pushy and I had to hang up on him. This would be a lender of last resort.

They were full of generalities and platitudes constantly assuring me they were great and I would miss my commitment date if I did not respond to each document request from them immediately. They were not sufficiently knowledgeable of my situation to request the appropriate materials. I own several businesses, and although I explained that to them before we started, they inched their way through my finances asking for countless worthless documents. When I repeatedly offered a personal financial statement to help them out, they claimed they understood my situation and would have an underwriter respond accordingly, then went on requesting miscellaneous materials. It was a miserable two weeks. They are more marketing than substance, and not very sophisticated when we stepped outside the typical residential mortgage acquisition. The settlement however went very smoothly and in fact it was a pleasure to work with them at that point. They had some one come to my personal residence at my convenience with all required documents. It was over in about 20 minutes. They moved the settlement up several days to accommodate our vacation schedule, and they offered to have a notary come to our rented vacation property if that would have been more convenient for us. All in all, I doubt I would do it again. I'd rather deal with a real person in a bricks-and-mortal facility at an institution I am familiar with.

In mid-June I did a refi inquiry on Lending Tree. Quicken Loans was the first to call me. The interview went very well and I was happy with the info I received so I started the refi process with them. I immediately sent all the documentation they requested. A couple days later they asked for additional documents and again I sent them immediately. Then, (here's where the problems began), they started asking for documents that I had already sent previously. At one point, they asked for the same document 3 times! In addition, they had my appraisal for 2 weeks before informing me that I needed to install a handrail on the open side of the stairs on my deck. So, that was 2 weeks wasted. Eventually they procrastinated so much that it exceeded the deadline on my rate lock. I started this process in mid June and the loan could have easily been closed by the end of July if not for their incompetence in managing the documentation I sent over and over again. After not hearing anything for over a week, I inquired about the status of the loan. I was informed that the "underwriters" were waiting for documentation. This was the last straw..... this process was approaching 2 months now. I eventually received a message that "the team is reviewing my loan and closing is just around the corner". I had had enough of their games and informed them that their services were no longer needed. I contacted another company (who has a local office) and started a refinance with them at a better rate. I would definitely NOT recommend (non)Quicken Loans to anyone. Also, to Emma (Emma@QuickenLoans.com), too late so don't even ask. You need to read the negative reviews, learn from them, and FIX the problems.