Quicken Loans Mortgage Refinance Review

#5 in Mortgage Refinance

Quicken loans is one of the country’s leaders in online mortgages. It offers homeowners searching for mortgage refinancing an easy online portal when applying for a loan. Other home loan services include home equity, FHA and VA loans and reverse mortgages. Its mortgage refinance service allows homeowners to lower monthly mortgage payments or even pay their mortgage quicker. This can be done by switching from their current mortgage plan with Quicken Loans.     

Types of Home Refinance Mortgages

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages

Other home loan options

  • Refinance with HARP
  • Home equity
  • Debt consolidation
  • FHA streamline refinance
  • VA loans
  • Reverse mortgage


Qualifying for Mortgage Refinance


Credit Score


Income to Debt Ratio

50% or more

Years Employed

2 years

Loan Terms

Up to 30 years



Refinance Mortgage Rates



Rate/ APR

Closing Costs


Monthly Costs

30 Year FRM

3.99%/ 4.243%




15 Year FRM

3.625%/ 3.565%




7 Year ARM

3.75%/ 3.684%




Mortgage rates are for a home with a current market value of $300,000 and a balance of $150,000.

640 credit score or better.

Why Mortgage Refinance at Quicken Loans

Quicken Loans does not only offer mortgage refinancing services but also gives homeowners a variety of home loan options. Part of its services include home equity loans, reverse mortgages, FHA and VA loans. Quicken Loans’ mortgage refinance service lets you lower your mortgage payments and even lets you pay your mortgage faster. Mortgage calculators makes it easy for you to get a quick quote online. With mortgage rates competitively priced and a variety of home loan programs, Quicken Loans is an good choice for mortgage refinancing shoppers.

Latest Reviews

Start your review for Quicken Loans Mortgage Refinance
mark fuller
Sandpoint, Idaho
Quicken Loans Mortgage Refinance review
I just finished a loan process with Quicken Loan. They have an excellent system in place, and their people are knowledgeable professional. That said, it was a waste of time. I went through the entire loan process, which took exactly 3 months. I was fairly timely in getting requested information. Everything seemed to be working well, with all requirements being met,right up until two days before final signing. Then, for some unknown reason, Quicken decided to ignore the professional appraisal ( I had no say in who the appraiser was ), and reduce my home value by 45%. The result was that they reduced the loan amount by $ 149,000, and they increased the discount fee by 500%. The reasons they gave is someone in their office didn't like the professional appraiser's value, and they had unnamed '3rd parties' who also thought the appraisal was inaccurate. My Quicken rep. declined to say who these 3rd parties were, or what their qualifications are. Earlier they had said that a second appraisal is an option, but later said it would not matter - their 3rd parties were more knowledgeable than a certified local appraiser. My additional questions went unanswered. Finally, after first offering a new redisclosure package ( basically, loan agreement terms ), they closed out the loan agreement a week before the expiration date, without offering a chance to accept the new package they offered. I have been in business for 30 years, and have not seen anything like this. My guess is that they have some other agenda, and just used the '3rd party didn't like the appraisal, and won't accept a second appraisal' as an excuse for something else, which I will never know. Worst part is that this 3 month process took place over some of the lowest home financing rates in the last 50 years. I have started a new loan process, but of course it is now at a higher rate because mortgage rates have started moving up. I feel like there was a lack of integrity, transparency and good faith in my dealings with Quicken. I had been recommending them over the last few months because of how smoothly things were moving. I will recommend to anyone against using Quicken Loans ( I suspect Rocket Mortgage is the same group ), as it may come back to bite you, even if you qualify at every level throughout the process. Time and money has been wasted in dealing with them.

William S
Quicken Loans Mortgage Refinance review
LOOK ELSEWHERE! I had a horrible experience with Quicken Loans. Don't trust what they say because they're either lying or they don't know! I have 7+ redisclosure doc's (breakdown of the loan-estimated). They went from 1.875% origination fee up to 2.5% and then they screw you on the "fees". I was told an appraisal would cost $450 which I had to pay upfront. After looking at their redisclosure, I agreed and paid the $500. The very last redisclosure shows appraisal fee of $795! I paid a $500 deposit for the $450 appraisal and LOST IT. YOU CAN'T USE AN APPRAISAL AT ANY OTHER BANK. So make sure you want to deal with them first! Then I tried to "work" with them and got screwed further! There are plenty of better places to go!