Why? I'm in same boat as OP and in the process of negotiating rates between Quicken and two local brokers. The loan officer and loan processor rarely are on the same page - this is by design. Due to the 620 minimum qualification, I can not get approved. My experience with Quicken Loans have not been good so far. I used to work in an environment like Quicken's (it's called the Consumer Direct model and some lenders are going to this because they can save a lot of money by attracting inexperienced talent). They have their Rocket mortgage technology, but so what? Headquartered in Detroit, Quicken Loans … Rocket Mortgage by Quicken Loans received the highest score in the J.D. That's not to say they're good or bad, I just found them (a couple tenths of a percentage) … I would always go with a local community bank or credit union over Quicken. You should meet them locally and interview them, talk about your situation and see what advice they give you. Quicken Loans offers a wide variety of loan options. Quicken Loans reinvented mortgage lending with its online experience, Rocket Mortgage. I don't think outfits like Quicken Loans would be very effective at that. I guess I'm having a hard time evaluating the value that the guy who promises he's going to be attentive is going to add for the additional money I'll end up paying. Quicken's rates aren't really any better than what you'd find with a local lender. I am trying to look for a way to quickly evaluate the best option for myself. Hey, can you expand on why first offer with Quicken pre-approval will be difficult to accept? I am a first time buyer and am looking to get the most out of my first time buying status. My first interview was over the phone with Quicken Loans. TIA! Quicken isn't going to be anything like that and I always try to keep big-time business on a local level. New loan officers go there to get trained and make some money, and then the good ones move on after a year or two. Quicken Loans ranked in the top-15 on FORTUNE magazine’s annual 100 Best Companies to Work For list in 2019 and has been named among the top-30 companies on the list for 16 … New comments cannot be posted and votes cannot be cast, Real estate Lending I was actually pretty pleased with the final product, but the amount of people calling to offer loans overwhelmed me. Get started on your loan right away. To get more accurate and personalized results, … I wouldn't go with them. I used them for my second house. I went out and found a local mortgage broker, researched the company to make sure they were actually legit and hounded them with questions prior to even applying. The mortgage process has been known to frustrate homeowners. Unfortunately most quicken loans loan officers struggle with all of these things. Quicken … We are looking to refinance but they have horrible reviews online. I found Quicken Loans' interest rate to be higher than the bank I ultimately went with. I wouldn't have trouble getting pre-approved elsewhere though, and don't want to make my initial offer less appealing because of Quicken since I otherwise am ideal buyer. 1,047 reviews from Quicken Loans employees about Quicken Loans culture, salaries, benefits, work-life balance, management, job security, and more. Seem like very shady practices. That is not to say Quicken Loans does not do well by its customers. Ask questions. I interviewed at Quicken Loans (Detroit, MI) in Jul 2019. From … I'm pre-approved with Quicken out of web-based STP convenience I chose them. Find out more about the Quicken Loans deposit, and how it gives you one of the most streamlined loan processes available! The mortgage industry needed a change. If I were a first time home buyer I would want a loan officer, and mortgage company, that could be attentive and address all my questions and concerns. Power 2010-2020 (tied in 2017) Primary Mortgage Origination and 2014-2020 Primary Mortgage Servicer Satisfaction … Financing I wouldn't put too much weight into online reviews for mortgages. Quicken Loans came back with a 3.875% whereas the other two came back at 4.25% and 4.375%. I may be bias, but I love technology and QL's technology is sound and is the future of the mortgage industry IMO. I chose Quicken specifically because they specialize in VA loans, and my normal bank has a very bad reputation with VA loans. ... help Reddit App Reddit coins Reddit premium Reddit … Learn more about Quicken's loans, rates and fees. Financing No matter where you go, you're going to have a poor experience if the aforementioned items apply. I told them the truth that their mortgage rate is higher than my other quote from Citibank, which I have in writing in a pre-approval letter. I did my purchase through QL and it was too easy. Cookies help us deliver our Services. Eventually they stated … Going local, as suggested, would give you more control over the process. All other fees, closing, … It had directions for contacting Quicken to get setup to get a credit report. I do have am online place that I did a refi with 2 years ago that I liked and felt had good pricing structures that you could put in your mix (I assume you're getting multiple quotes). Inexperience - they generally hire brand new LOs who are still learning the job as they go. Interview. Houses, Press J to jump to the feed. If not then are there any recommendations for a first time buyer to get started. Only do Quicken if you want to be bombarded with phone calls. Local lenders typically process your loan, then sell your loan to another servicer who nickel and dime you for every request you make after closing. Thinking about contacting their legal department about that one. Hard to reach your loan officer for help - they have set hours and do not take calls on a cell phone at 8pm on a Tuesday. Quicken, which was founded in 1985, announced in Feb. 2018, that it became the nation's largest residential mortgage lender with a total loan volume of $83.4 billion. The LO is there to sell and get business in the door. BTY they are … Learn about Quicken Loans culture, salaries, benefits, work-life balance, management, … Instead I got frustrated and started the process with another bank and just began ignoring Quicken Loans and their emails and CONSTANT phone calls. Press question mark to learn the rest of the keyboard shortcuts. Press question mark to learn the rest of the keyboard shortcuts. Quicken Loans is one of America's … In fact, the company has earned J.D. It was a call center and it was awful. You may still qualify for a loan even if your situation doesn't match our assumptions. Quicken Loans is one of America's largest mortgage lenders and tops the charts for customer satisfaction. Quicken Loans LLC provides marketing services to each company featured on this … While opinions may differ, Quicken seems to be able to get the job done in a timely fashion if you are a very clean borrower (W2 income, excellent credit, clean assets, etc) with not much interaction during the process. Rocket Mortgage by Quicken Loans received the highest score in the J.D. This was almost my exact situation when I used Quicken. Quicken Loans is located in downtown Detroit. Obviously Quicken has the advantage on pricing given they deal in bulk. By using our Services or clicking I agree, you agree to our use of cookies. I used them for my second house. This is without going into the fact that Quicken (on average) looks to have higher rates and on occasions has been known to hide fees within their rates. Originally started through Aerotek and was hired in to QL full time. There are much better lenders to work with for a first time buyer. Mortgages Power’s top spot for customer service an impressive 10 years in a … Thanks in advance. This is for a standard 30YR conventional mortgage. Churn and burn! There seems to be a infinite amount of loan options and companies and I am just trying to find the right one. Only do Quicken if you want to be bombarded with phone calls. Quicken Loans is probably not the best place for that. I would probably not use the internet-based or call-center type servicers on a home purchase; I'd use a local broker/lender that I believe can actually get the deal done on time. Quicken Loans is the largest mortgage lender in the U.S. based on loan volume and is licensed in all 50 states. My credit scores are about 580, my wife's are 800. I have the same tech, only better, because it comes with a live LO who can help you 24/7 and will come to the closing with you to make sure everything goes smoothly. They were quick to say it means nothing even if it's in a letter, meanwhile their rate is way higher with points! Is that from experience? Mortgages Someone you would be able to sit down with (if you wanted to do so) or at least be able to reach and get a response from in a timely manner. I talked to quicken loans about refinancing our home. Rocket Mortgage by Quicken Loans. Quicken Loans is probably not the best place for that. Our amazing mortgage process is enhanced by the Quicken Loans deposit. Homeowner That's because I already have a place to live and there's not thousands of dollars and heartache on the line... 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