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Quicken Loans | Home Equity Review

12 Customer Comments & Reviews - see all comments
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Quicken Loans is a financial lending company that specializes in online mortgage refinance. Based in Michigan and founded in 1985, Quicken Loans has grown to become the largest online lender in the United States. The company offers a streamlined qualification process, as well as flexible loan terms.

How is Quicken Loans rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Quicken Loans is a well-established lender that streamlines the application and approval process so that borrowers can receive approval within minutes.

The company's customer satisfaction levels tend to be above average.

Their rates are generally lower than their competitors and offer the option of completing the loan process completely online, though they do have loan experts that borrowers can call.

**As part of their continuous drive to simplify and speed up the home equity lending process, Quicken Loans has recently developed an eClosing network, a mortgage closing with a digital note. It can be done one of three ways: an in-person hybrid eClosing, an in-person electronic notarization (IPEN), or a remote online notarization (RON). Hybrid eClosing is currently available in all 50 states, though IPEN and RON are still being phased in. However, as more states adopt the technology, the growing network will allow any Quicken Loans mortgage to take advantage of the eClosing option.

Quicken Loans Features

Lender Type
Online Lender
Loan Types Available
Cash-out Refinance
Cash-out Refinance Terms
Up to 30 years loan term
Cash-out Refinance Fixed Rates Starting At
3.99%

Quicken Loans Qualifications

Loan Qualifications
Property Appraisal
Proof of Employment
Primary Residence
Minimum Credit Score
620

Quicken Loans Customer Experience

Total Consumer Financial Protection Bureau Complaints
198
Total CFPB Complaints/Originations
0.05
Site Features & Technology
Home Equity Calculator
Mobile App
Online Application
Online Quote

Total Originations (in millions)
$76,458
Number of Originations
376,200
Average Mortgage Size
$203,200
Memberships & Accreditations
Equal Opportunity Lender
Insured by Federal Housing Administration
Nationwide Mortgage Licensing System ID
3030
Nationwide Mortgage Regulatory Actions
1
Trust Pilot Rating
4.6 out of 5
BBB Rating
A+
Date Collected
2017-08-17

Contact & Additional Information

Homepage URL
Company Phone
(800) 979-5133
Headquarters Address
1050 Woodward Ave., Detroit, MI, 48226
Mailing Address
P.O. Box 6577 , Carol Stream, IL, 60197
Year Founded
1985

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12 Customer Comments & Reviews

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Thomas S
9/11/2018
Great experience the whole way through....until it came time to close the loan. A surprise that came during the closing process was that for my condo needed to be insured for flooding (even though its on the 2nd floor)and I couldn't buy it myself. The whole complex had to be under a blanket policy for flooding. (Something I wasnt told until the end of the process) I needed the loan to pay for my fathers memory care facility which he is already in costing thousands. Should provide this detail upfront. The whole process wasted time I dont have a delayed a desperate situation


N
nancy
6/12/2017
I have to admit, QUICKEN LOAN service on info,etc. was Outstanding. The calls weren't constant as LENDING TREE calls. QUICKEN LOAN rep was informative, pleasant, and made me feel very comfortable versus LENDING TREE . Whom after many attempts, I finally agreed to go where every rep there told me to go.(website) to ONLY be denied by letter later? Quicken Loans- provided info,Details,and showed concern on my needs and situation. I had my Birth certificate stolen years ago, until present (CREDIT RUINED) Police records lost.The rep. was patient, and understood my situation. The opposite of LENDING TREE.I gave them 4 STARS only because i decided that year not to APPLY for EQUITY LOAN thanks... Read More