Quicken Loans Review
Mortgage
/
Refinance
Quicken Loans has helped transform the conventional ways people search for a Mortgage Lender for Refinancing an existing home or purchasing a new home. Of course, they may have started as a small brick-and-mortar mortgage lender back in 1985. Yet, by moving to an online platform in 2000, Quicken Loans gained traction among tech-friendly borrowers, pre-approval, and their impact on the industry continues to expand.
No matter what type of mortgage loan you are trying to obtain, Quicken Loans has made it easier for you to obtain pre-approval. With the introduction of Rocket Mortgage in 2016, Quicken Loans can complete the entire mortgage pre-approval and lock in APR rates without having a single branch office or having their customers speak with mortgage bankers over the phone. As a result, Quicken Loans has helped thousands of borrowers achieve their home financing goals with friendly, knowledgeable support.
Overview of Quicken Loans Services
- Plans Available: Home Purchase, Refinance, FHA Loans, VA Loans, Jumbo Loans, and more…
- Origination Fees may exist depending on the loan type/amount being borrowed
- 15 year and 30 year fixed mortgages are available
- Coverage in all 50 states
- Rate Quotes are Free
- Average origination fees at around 0.50%
- Online application process
- America’s Largest Lender
- Great Customer service 24/7/365
Quicken Loans Mortgage Options
Quicken Loans provides an array of mortgage loan options to assist their customers in finding the mortgage program that best fits their financial situation. Quicken Loans offers a wide range of products that cater to first-time homebuyers or experienced homeowners who want to refinance their current home into a lower interest rate loan for maximum savings.
Quicken Loans can also help first-time homebuyers obtain an FHA loan through the Quicken Loans FHA platform. In addition, Quicken Loans is the only mortgage lender that can offer 0% down payment options using their Home Possible platform. Quicken Loans also has a variety of VA products available for military veterans looking to refinance or purchase a home with Quicken Loans VA benefits.
Quicken Loans also offers options for borrowers who need to purchase a home in the next 90 days with Quicken Loans' 90-day comparable products. Quicken Loans has so many mortgage loan products available it is easy to find the right solution for your financial situation.
Online Refinance Options From Quicken Loans
In this modern time, finding a Mortgage Lender to be able to refinance your current home may not need to involve going directly to a brick-and-mortar branch office or having a long conversation on the phone with a mortgage banker. Quicken Loans has moved their mortgage lending platforms online and mobile, where they provide you can save both time and money with their online refinance application.
Quicken Loans offers a digital experience that you can do on any computer, phone, or tablet device. They also can lock APR rates and fees within minutes of receiving your refinance application and not having to wait until the end of business hours like most other Mortgage Lenders. Quicken Loans provides updates throughout the entire loan process to inform how your loan is being processed. By providing you with a digital experience,
Quicken Loans saves time by not having to spend hours waiting in line at a branch office or spending time on the phone with someone who may have transferred your call to multiple people.
Quicken Loans Customer Service
Quicken Loans can handle all of their customer services via email and phone from their website so that you don't have to go through a middle man to get your questions answered. Quicken Loans prides itself on providing excellent customer service where they are available around the clock to help you with whatever questions or issues you might have with your mortgage.
Quicken Loans customer service is available to answer all of your product and pricing questions, as well as being able to provide information about the loan process. They will also assist with any additional products such as homeowners insurance, property taxes, and life insurance if needed.
Quicken Loans also offers a Quicken Loans Mortgage Protection Plan that provide additional peace of mind if something should happen to you or your spouse while working on your mortgage.
How To Get Started With Quicken Loans
Getting started with Quicken Loans is very simple and only takes a few minutes to begin the process. You can complete the entire process online or speak with one of their Mortgage Bankers who can give you all of your pre-approval rates, options for mortgage programs, and what the right loan might be for your financial situation.
Just fill out their online mortgage application form, where they will be able to assist you with receiving your home loan or refinance so you can begin the dream of owning a new home.
Fees
The Quicken Loans mortgage origination fee is about 0.50 percent of the total loan amount. Government home loans guaranteed by the FHA, VA, or USDA can be somewhat more expensive, but Quicken Loans says that its lender fees will not exceed 1% of the loan sum.
Mortgage Rates
Rates will frequently fluctuate, so shop around to ensure that you receive the greatest savings available.
If you're serious about refinancing your mortgage, you'll have to give the lender plenty of information to get a rate that's suitable for your unique circumstances. Then, keep in mind to put multiple lenders in a bidding war for your business by offering them low rates. Keep in mind that paying an extra 2% on a $300,000 mortgage at a fixed rate of four percent is $60,000.
Is Quicken Loans Right For You?
As you can see, Quicken Loans provides everything that you would need when refinancing or purchasing a new home loan. They provide high-quality customer service, low rates, a range of loan programs, and complete digital convenience.
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