Quicken Loans is a respected provider of mortgage and refinance services. The website is beautifully designed to educate you about home mortgages and facilitate the application process. Because Quicken Loans is one of the best home mortgage lenders in terms of loan-product choices, interest rates, application process and customer service access, it wins the TopTenREVIEWS Silver Award.
The Quicken Loan application process can begin via chat, email or telephone. A Home Loan Expert will pull your credit score and then guide you through the steps to reach your goal. Assuming your credit score qualifies you for a mortgage or a loan refinance, you will receive a good-faith estimate for the loan option you prefer. At this stage, Quicken Loans accepts your application along with a deposit. Quicken Loans then goes about verifying your information in a process known as underwriting. The underwriters might ask you to supply more paperwork. Quicken Loans then has the property appraised to make sure that its value is equivalent to the loan that you have qualified for. After all the steps happen, Quicken will schedule your closing.
Quicken Loans provides a full online disclosure of its security and privacy practices. You can use many of the online tools without disclosing your identity. Once you register, Quicken Loans does not share your information without outside parties, but it will solicit you for Quicken Loans products and services unless you opt out. You can opt out at the same time that you register, or change your contact preferences at a later date.
You can get all sorts of online mortgage options from Quicken Loans. There is an option to qualify for an approved mortgage before you start shopping. Prequalified is better than preapproved in that Quicken Loans has already verified your credit, assets, debt and income. So once your offer is accepted by a seller, you can move much more quickly to fund the loan than if you were simply preapproved. Quicken Loans provides fixed- and adjustable-rate mortgages. You can also choose any loan term between eight and 30 years with a fixed rate. You can also apply for jumbo loans of more than $417,000 (but less than $3,000,000). Current rates for each type of loan are always live on the Quicken Loans website.
Quicken Loans also has VA loans, which are mortgages guaranteed by the United States Department of Veterans Affairs. Quicken Loans is a qualified lender for VA loans to eligible American veterans, as well as surviving spouses.
Quicken Loans also participates in FHA loans, which are mortgages insured by the Federal Housing Administration. Even if you have weak credit or have experienced a bankruptcy or foreclosure, you might still qualify for an FHA loan.
You can reach Quicken Loans by online chat, toll-free telephone or email. Clear instructions about how to reach any department are online. The Quicken Loans website is chockablock with educational materials regarding mortgage and refinancing. The section that describes the appraisal process, for example, is about as thorough as it can be.
Quicken Loans uses its website to maximum effect to display current rates for all of the mortgage types it makes available. It also realizes the potential of the website to educate and to receive applications. Furthermore, it provides clients with individualized websites that allow them to follow the status of a loan application from beginning to close. By providing customer support via online chat, Quicken Loans extends customer service availability in the most convenient way possible.
Quicken Loans provides a process that is carefully thought out to reduce borrower confusion.
A few customers have posted negative reviews of their experiences with Quick Loans. However, for every online complaint, a Quicken Loans representative responded and offered to research and solve the complaint. You cannot please all of the people, all of the time.
Quicken Loans is what an excellent mortgage and refinance lender looks like.