Quicken Loans

I first contacted quicken loans eight years ago and was told they can get me a 1.9 percent loan since my credit Wes so impeccable and I didn't owe anyone anything, and it was going to be a 10 year loan, but when it was said and done it was a 11 year loan for 3.4 percent, I did the math and they ripped me off for about 12,000 dollars and every year the loan gets more expensive so I had to pool all my money and pay this loan off asap! After owning the house for 21 years my payoff was still 53,000. I bought the house in 94 for 85,000. Someone needs to stop quicken loans!

Went with quicken over another bank that offered the same rates. What a mistake that was. They immediately sold the loan within 3 months. Had to set up auto pay again. They didn't notify me that it got sold. So I ended up getting late fees and having to spend hours on the phone getting the payments that went to quicken resolved. Then they never sent me my tax statements at the end of the year. Had to spend another hour on the phone with them to get that. I've now had my loan sold for the fourth time in two years. So I'm going to have to deal with this again. To make a long story short go with a regular bank that will keep the loan. Haven't been this annoyed in a long time

Terrible. Delayed our closing because they didn't get all the paperwork done in time. They kept asking for more paperwork and our closing was delayed then we had to pay for storage units, extra moving expenses, hotels, etc. And they said they would cover this and then didn't. I will never use them again. They also delayed another friend of mine by doing the same thing. Then when they finally called back about reimbursing us they wouldn't cover what they said they would and now we're out over $1,000 because they screwed up. Then they have our address on file incorrectly, but can send a bill in the mail to the correct address. Terrible organization and unprofessional company to work with. Would not recommend.

We refinanced in 2020 when rates were low. An agent started harassing us in May and blew up my phone and my husbands. We are not interested in refinancing to a higher rate but somehow the agent tricked him into running both our credit reports lowering our credit scores. The deceiver agent would use the words let's do a credit review to my husband and tricked him to running a new one. I called and complained and all they could tell me was that my husband should have known better. I told them to remove our numbers and never to call us again. I can't wait to move my mortgage when the rates get better again. These people are criminals.

Get ready for a million phone calls, a million emails a day, can't spam them, can't junk folder them, can't write a review on their own website, don't even type their name into google or you will be sorry!

They lied to me. You should go online and check out the complaints before you call them. I gave them my routing numbers and account numbers to make a payment, but their policy uses the numbers when you began the loan. They screwed up and did not use the numbers I gave. They should have done as instructed. I couldn't have been more clear to them. They will lie right to your face.

It took me 5 calls over 2 weeks to get an answer to 1 question, after receiving 5 different responses. Seems if a borrower files for BK PROTECTION (Mine was strictly due to Covid) Quicken refuses to update any loan information to any of the credit bureaus. I never missed any mortgage payments and all payments were on time, some as much as 3 weeks early and my home was not part of my BK. Seems like I'm locked in to Quicken whether I like it or not so their the only ones with access to my conventional loan and payments.

I'll figure a way around this, but beware!

I'm going to post an update each day to tell the rest of this story but here is where my refinancing stands today.
10/14/2020
It started with Rocket Mortgage a Quicken Company in June 2020. Here it is October 14 2020 and still not closed.
Refinancing 2 properties with loan to value at about 30% each which any bank would want to see. My credit last I checked was over 800 and I have a net worth in the millions in cash and other properties. Through the months there has been numerous requests for additional documents after the initial data download with a couple being repeated because some of the documents went past 90 days and i had to provide updated documents. I was told last month I was in the highest priority... whatever that means. We'll see what tomorrow brings...

Zach obviously had his online ducks in a row while speaking with me today. It will be very helpful getting this refinance if he can lower our interest rate (our #1 concern) and it appears he can keep our refinance with our current lender, which is a bonus. I hesitated talking to anyone about this, because no one would tell me what rate we qualified for in original requests, so him stating right up front that he can do better was a relief.

I have heard a lot of great things of the company despite having military bankers that do the same thing. I have JUMPED through hoops with them and realized I am paying less than the %6 for home for out of state residency, but still found a way to make me pay more than what the tax assessors in my county said.
Bottom point:
If you are military and do not want to use the military banks ( that is preference but they at least understand the military background. I jumped through hoops with some things they asked for because they may have wanted extra money or not get it.), fact check them because my county tax assessor laughed me when I told them the when the have changed my taxes down and I still pay three grand more than the person in the same complex as the town home I mortgage.

I just got off the phone with Quicken Loans... I was scheduled to talk to a loan officer again today at 11:00 a.m. At 9:00 a.m. this morning, someone from the company called to ask me questions I have already answered. When I told him I would not be deciding on a loan today, this person became very indignant. "Well, when would I be deciding?" "What day?" "You're not going to do any better with your income of blank-blank a month!" Who needs to be talked to like this?!?! What a bunch of arrogant, pushy, SALES people! And $500 up-front for a house appraisal? GO SCRATCH! If you read this review, do yourselves a favor and go somewhere else to look for a loan!

I was really happy I discovered Quicken loans after getting a quote from another heavy advertiser in my area (Paramount Equity). They came back with an interest rate that was a full point and a half lower on our $300k home!

There online access to the mortgage process is excellent in fact it made things pretty darn easy to go from steps A to Z.

In the end you are going to pay a little more in closing costs with them however you will most likely save that in interest over the life of your loan and as an added bonus if you ever refinance with them the cost is free the second time!

HORRIBLE! Quicken Loans screwed up EVERYTHING! The most egregious issue is they collected funds that were to be held in escrow for taxes but failed to pay the taxes. I found out when I received a notice of delinquency and that's when Quicken told me they reduced my closing costs and I was supposed to pay my taxes directly. They said "sorry" for NOT telling me this and for having to increase my monthly payments by $257 to make up the shortage. Fortunately, I can shift some things to make the payment but what if, like many people, I couldn't afford it? Absolutely SHAMEFUL!

I am on day 143 of my loan. The loan is for $260,000 and it appraises for $550,000.
Everything has been done including the survey, now after 140+ days I am being told that they need more documents. I have been approved 3 times then they say oh wait we need this and this.
This is not my first rodeo I have refinanced before, but Quicken loans keeps stalling hoping to find something they can change or cancel the loan. They do not do what they say and for as far as I am concerned, they are using false advertisement. I think they just bring on new clients to be able to look good for their investors.
By the way my credit score was 800+ when this all started.

I just terminated my application with quicken loans. They repeatedly asked for documents I had already provided. When I told them I had provided the information already they indicated the items hadn't been cleared by an underwriter. But the worst thing was despite being approved they wanted to run another credit bureau report with my husband as primary. We both have credit scores over 800 but they said it had to be run. We were going to put more than 50% down and had provided bank statements showing we had more money than the loan amount we were requesting.

I called Quicken in November to refinance my home. I was very excited that they assured me that despite the income for my home being foreign (my husband works in Saudi Arabia) they would be able to close it. After paying hundreds of dollars in fees and for an appraisal, sending every piece of paper they asked for including tax returns and letters from his employer, they decided in March that they couldn't close it and refused to refund my money despite regulation Z which states, " a consumer cannot be charged fees associated the refinance of a primary resdence if the loan does not close". Do NOT send them a dime. This is a scam.

Horrible experience. Very bureaucratic process.
I have refinanced several properties in the past 10 years, but never had such a miserable experience as with Quicken Loans.
I'm refinancing 2 properties with Quicken Loans and 65 days into it and they still have not closed.
Let me preface that there are no credit issues and plenty of equity in these properties. They seems to be looking for excuses not to approve loans: A building with 8 units all covered by the same HOA insurance - Quicken Loans says the insurance is not adequate, however, 3 units just closed their refinance app 1 week before me (same HOA). Also, according to Quicken Loans I cannot even purchase my own insurance coverage. - The HOA has to buy it, so I cannot do anything about it.
When I asked to speak to the underwriter to get an explanation, they said the underwriter cannot take any calls.