Overview

In the lending business for over 30 years, Quicken Loans has made it possible for over 2 million families to purchase a home. While many other lending services do not actually lend money themselves, Quicken Loans provides mortgage loans directly. Quicken Loans puts customers first and has achieved a consistently high satisfaction rate.

With Quicken Loans, prospective borrowers can take advantage of the many online resources available on the company website. Even before applying, customers can find out what to expect from their mortgage with the free mortgage calculator. The website also has informative guides, articles, and blog posts to help with financial planning. A cornerstone in helping Americans achieve their dream of homeownership, Quicken Loans® is a comprehensive online platform that serves as a matchmaking service, connecting individuals with mortgage lenders that suit their needs. Quicken Loans is dedicated to providing personalized recommendations, enabling users to compare lenders and select the best fit for their unique financial situations, all for $0.

Eligibility Process

Quicken Loans has a transparent application process, and prospective borrowers can find out their rates without sharing any personal details. The application asks a few basic questions such as the cost of the home, your approximate credit score, expected downpayment, and current debts. Once you submit the form, Quicken Mortgage will get back to you with your options.

Compared to other lending services, Quicken Loans has fairly flexible eligibility requirements. Rates depend on the applicant’s credit score and outstanding debts. Even those who have debt might still qualify. Quicken Loans can help reduce payments with their higher debt-to-income (DTI) tolerance.

Quicken Loans stands as a one-stop hub offering a range of invaluable resources, including free mortgage calculators, extensive educational content, and guidance on various financial products beyond mortgages.

The platform acts as a connector between prospective borrowers and lenders, offering tailored suggestions for various mortgage types such as fixed-rate, adjustable-rate, FHA loans, VA loans, or jumbo loans.

Prospective borrowers can easily explore potential loan options by providing basic details such as home cost, estimated credit score, down payment, and current debts. The platform then offers tailored recommendations without any obligation.

Fees & Rates

Because Quicken Loans has a range of mortgage loans available, rates vary based on the loan type and the length of the mortgage. With Quicken Mortgages, borrowers have the option of fixed-rate mortgages, adjustable-rate mortgages, Federal Housing Administration (FHA) loans, VA loans (for US veterans), and jumbo loans, depending on their needs and qualifications.

As with most mortgages, applicants who do not pay a certain amount on their down payment may have to pay private mortgage insurance (PMI). This could tack on an additional payment each month and wind up costing thousands extra.

Quicken Loans connects users with a variety of lenders, offering a variety of rates and mortgage options. The platform includes options for a diverse range of applicants, including those with existing debts and potentially those with higher debt-to-income (DTI) ratios.

Repayment Terms

Quicken Mortgage offers both fixed and adjustable-rate mortgages and refinancing loans. Applicants can sign up for 15 and 30-year fixed-rate mortgages. Quicken Loans also has 5 and 7-year term loans. Terms and rates will depend on the applicant and which type of mortgage they accept.

Quicken Loans introduces users to lenders offering diverse mortgage terms, including fixed and adjustable-rate options along with refinancing loans. Specific terms and rates are determined by the lender and the chosen mortgage type.

Customer Support

Mortgage specialists at Quicken Loans are available to help every step of the way. Customers can easily get in touch through online chat or phone support during business hours, Monday - Friday, 7:00 AM to midnight, and on Saturdays and Sundays from 9:00 AM to 8:00 PM.

Before calling, be aware that Quicken Mortgage Loans will save your contact information and may send promotional updates. If you no longer want to receive marketing messages, make sure to opt-out.