Mortgage Company Reviews

Quicken Loans Reviews Better Business Bureau – My Honest Review On Quicken Loans Mortgage – Pros And Cons Rocket Mortgage Review

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Quicken Loans Reviews Better Business Bureau – Review

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Quicken Loans has become the nation’s largest mortgage lender even though it doesn’t operate any branch offices. When you apply for a mortgage from Quicken Loans, you can work out the details over the phone, or complete the entire process online through the company’s Rocket Mortgage division.

Quicken Loans overview
Minimum credit score

620 for conventional and (generally) for VA loans
580 for FHA loans
760 for jumbo loans on purchases, 700 for refinances
Loan types

Conventional fixed-rate mortgages
Adjustable-rate (ARM) products
VA and FHA loans
Jumbo mortgages
Cash-out refinancing.
Lender fees

Quicken Loan fees include origination fees, rate-lock fees and closing costs. These expenses vary by loan type and taxes. According to Quicken Loan’s website, closing costs average between 2 to 6 percent of the purchase price.

Closing costs include things like title fees, recording fees, appraisal fees, credit report fees, pest inspection, attorney’s fees, taxes and survey fees.

Minimum borrower requirements

Quicken Loan generally follows the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).

For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and a minimum down payment of 3 percent. However, anything less than 20 percent down will trigger the private mortgage insurance (PMI) requirement.

Borrowers must also have a debt-to-income ratio (DTI) of no more than 50 percent as well as 2 to 6 percent of the purchase price in cash reserves to cover the closing costs.

For FHA, VA and USDA loans, those requirements are set by the government. You can find them here:

FHA loan requirements
VA loan requirements

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37 Comments

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    July 22, 2021 at 10:12 pm

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  2. Shawn Maurice
    July 22, 2021 at 10:12 pm

    They are liars. I got a 778 score and make 4 grand a month, and payed all my credit cards off and they still would not approve me. They suck.

  3. Smalz Lanky
    July 22, 2021 at 10:12 pm

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  4. squiggle1020
    July 22, 2021 at 10:12 pm

    I know the fee you out the ass.

  5. mundoram1
    July 22, 2021 at 10:12 pm

    I gotta say that's a bad ass shirt 👕

  6. Holly Roberts
    July 22, 2021 at 10:12 pm

    You're like the 5th reviewer I've heard say this about the credit scores… I'm going with quicken loans now and they will not approve my husband for a conventional because they said he needs a score of 680. He was approved for an FHA w/a 640 score.

  7. Randy Howard
    July 22, 2021 at 10:12 pm

    looked into my bank to refinance and couple of others took two weeks, talked the same day to quick and loan told them what I wanted they listened to me and now I'm filling with them and under standing there name

  8. VampireKing
    July 22, 2021 at 10:12 pm

    I used them, fking garbage don’t waste your time

  9. Adam Mofaz
    July 22, 2021 at 10:12 pm

    Jesi mangup

  10. Peter Griffin
    July 22, 2021 at 10:12 pm

    Thanks bro I decided to go with rocket mortgage

  11. Dorothy Jones
    July 22, 2021 at 10:12 pm

    How long does it take to close and how long do you stay in the final review I am in the final review right now

  12. Bella She has a stalker
    July 22, 2021 at 10:12 pm

    We have approved from this loan but wherever we go look for a agent they are telling us to choose a different lender . They say we will not get an offer with this loan what does that mean .

  13. Sherrie Stephens Snow
    July 22, 2021 at 10:12 pm

    Have you used Amerisave?

  14. Sherrie Stephens Snow
    July 22, 2021 at 10:12 pm

    Thank you for this info!

  15. Cecilia Baker
    July 22, 2021 at 10:12 pm

    They told me I need a 680 credit score for conventional.

  16. Sarg
    July 22, 2021 at 10:12 pm

    I’ve used them and had a great experience. Great video

  17. thecrow
    July 22, 2021 at 10:12 pm

    10:25 did you ask for lower rate

  18. Andrew A Wood
    July 22, 2021 at 10:12 pm

    Gr8 info 👍🏼👍🏼👍🏼

  19. Synmn !
    July 22, 2021 at 10:12 pm

    Buyer, Offer accepted. It's been two weeks since i got a hold of my quicken loan agent. been calling and emailing every contact I could find and nothing. Gave up, moved to a different lender.

  20. El Realtor
    July 22, 2021 at 10:12 pm

    Go to 8:15 for review.

  21. Pinay Mom
    July 22, 2021 at 10:12 pm

    Had terrible experience with quicken loans. . Applied for refi twice and they keep changing my closing cost. From 3k to 6k. . They keep asking for documents that I already submitted,. Very unorganized and unprofessional people .

  22. imssgmiller
    July 22, 2021 at 10:12 pm

    Bad choice, a good mortgage broker is better to protect your credit score. A mortgage broker will do a soft pull and work with lenders vs multiple hard inquiries. Be careful especially if you’re borderline on a qualifying credit score. Like 760 for jumbo, a few hard pulls will give you a hassle. They do this to stop you from going to other lenders.

  23. I repent in Jesus name
    July 22, 2021 at 10:12 pm

    Law suit called harassment

  24. I repent in Jesus name
    July 22, 2021 at 10:12 pm

    Mortgage calculator site
    Lies……..they just want your info..they don't offer calculator

  25. Joshua Galup
    July 22, 2021 at 10:12 pm

    I purchased my first home/rental property in 2015 at 4.25% fha loan. Going to be paying off the reminder this may coming up. Not excited to write a check for $26,000 😂. They overall have been great. I love the web portal it’s better than a lot of banks I used for online banking even.

  26. alvin real
    July 22, 2021 at 10:12 pm

    Right now I’m applying for a loan and I’m having a bad experience, this is probably a fake video

  27. Randall Flagg
    July 22, 2021 at 10:12 pm

    Quicken Loans – Agreed to refinance my home with cash back for home improvements. 103 days later, they refused to approve the loan until AFTER the improvements were complete (I made it abundantly clear to them that I was not going to have the work done until I had the resources to actually pay the contractors).
    Quicken Loans refused to follow through on the arrangements they agreed to and would not refund the $500 for the appraisal they arranged.

  28. LATINA INCA
    July 22, 2021 at 10:12 pm

    Q.L is a garbage company.. i will make a video showing everybody how much they charge for closing costs and points etc at least 3k more.
    Starting with processing fee 900 other banks 400.
    Underwrinting fee 350 other banks 250.
    Points 6k other banks "0" to 1500"

  29. Jerome Ellington
    July 22, 2021 at 10:12 pm

    I'm looking to refinance from fha to conventional, will I have to pay the closing costs out of pocket or do lenders combine this within the loan?

  30. dMARS_E
    July 22, 2021 at 10:12 pm

    Imas li suho mesa brate. Good work this is very helpful

  31. Yoshi Golfer
    July 22, 2021 at 10:12 pm

    Hi, can we know what was the total cost of quicken loan?

  32. Chris Grimm
    July 22, 2021 at 10:12 pm

    I requested to speak with an agent about rates and fees for home loan. The guy I spoke with at Quicken was rude and refused to give me an idea of what the interest rate or what fees applied. Put a bad taste in my mouth.

  33. David A. Samanay
    July 22, 2021 at 10:12 pm

    Thank you bro!

  34. Mauri M
    July 22, 2021 at 10:12 pm

    Thanks for the video. Very informative. I will call quicken loans and other financial institutions as well.

  35. The Truth Is The Truth
    July 22, 2021 at 10:12 pm

    Quicken Loans is by far the worst mortgage experience that I have ever had. Their online system can't figure out that you paid taxes after the county auditor makes tax increases. I stayed on hold for over 3 hours although their automated system keeps saying that hold time is between 12 and 19 minutes. ALL LIES!

  36. SuperLocoloco69
    July 22, 2021 at 10:12 pm

    How much did they pay you? BS

  37. Leng Leng
    July 22, 2021 at 10:12 pm

    God, they will stalk you when you submit your information, daily, non-stoppedly calling you, they don't know the fundamentals that people will reach out if they are interested. They also check your credit without permission, I believe it's from AmeriSave – "Credco", and then suddenly Quicken loan contacts you daily, non-stoppedly.