Get a rate that is competitive a highly evaluated mortgage company.

Given that biggest mortgage that is online in the usa, Quicken Loans provides many home loan choices. And past customers rave about its friendly, informative home loan professionals.

Loan kinds mainstream, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Minimum credit 620
minimal advance payment 3%
Origination fee 0.5% to 1.0%
Other costs Quicken Loans charges good Faith Deposit of $400–$750 to greatly help protect the price of pulling your credit history, your property assessment and extra loan processing expenses. Whenever you close your loan, Quicken Loans credits your deposit to your closing expenses.
Available States for sale in all states
  • Big selection of mortgages
  • On the web loan support
  • High loan amounts
  • Application deposit
  • Intense credit pulls

The greater Business Bureau gives Quicken Loans a rating that is a+ while Trustpilot awards Quicken Loans a 9.6 away from 10. Many reviews praise the attentive, individualized service they get from the home loan officers. Even if working with numerous representatives, borrowers report a keen focus on information. Borrowers liked making use of Quicken Loan’s MyQL to trace the progress of the loan.

Nonetheless, some complaints point out credit that is hard without authorization throughout the application procedure. There’s also states that loan advisors had been aggressive whenever trying to shut the mortgage.

What kinds of loans does Quicken Loans offer?

Quicken loans provides a few mortgage that is different, including:


Quicken loans offers main-stream mortgages with fixed-rate regards to 15 and three decades. It provides 7/1 and 5/1 terms that are adjustable-rate. And both fixed- and adjustable-rate mainstream mortgages are available without any prepayment charges.

When you yourself have a credit score over 700, you are able to make an application for a jumbo loan as high as $3 million with both fixed- and adjustable-rate terms available.

This home that is government-backed provides fixed- and adjustable-rate terms as much as three decades, down re re payments as little as 3.5% and needs at least credit rating of 580 to qualify.

Open to service that is active, veterans and their partners, Quicken Loan’s VA mortgages have actually 0% advance payment options and jumbo loans as much as $1.5 million.

Home owners in qualified rural areas can be eligible for this loan with a credit history with a minimum of 620 to buy your property without any advance payment and spend less on your home loan insurance coverage. You need to use the USDA web site to verify that your property qualifies.

Other loan kinds

  • Refinance. Change your overall home loan up to Quicken Loans to obtain an interest that is new, reduced re re re payments or even a reduced loan term.
  • YOURgage. This loan that is fixed-rate regards to 8 to twenty years to get more control of your payment term. Qualifying homeowners could possibly get a YOURgage with as low as 3% down.

Quicken Loan’s charges

Quicken Loans charges a one-time “good faith deposit” on its mortgage loans to pay for your credit file, house assessment and underwriting expenses. The amount that is exact of good faith deposit is disclosed in your deposit contract and it is due at closing.

In the event that you decide not to ever just do it together with your Quicken Loans home loan, you can find a complete reimbursement, minus any expenses Quicken Loans has incurred in the act of taking care of your loan.


To qualify for a mortgage loan with Quicken Loans, you’ll need a personal credit rating of at the least 580 for FHA loans, 620 for mainstream and VA loans and 700 for jumbo loans.

You’ll must also get ready with an advance payment of at the least 3% for main-stream loans and a deposit between $400 and $700 to pay for the faith deposit that is good.


Be ready to provide:

  • Your complete name and contact information that is personal
  • Your Personal Protection quantity
  • Pay stubs through the previous thirty days
  • W2s and 1099s from the last couple of years
  • Individual tax statements through the previous couple of years
  • Loss and profit statements if self-employed
  • A summary of your assets, including cost cost savings, property, vehicle games as well as other investment documents
  • A whole directory of the money you owe, including figuratively speaking, automobile financing, signature loans and bank cards

Advantages and disadvantages of Quicken Loans

  • Big jumbo loans available. Find non-conforming jumbo loans as much as $3 million in fixed- or adjustable-rate terms.
  • Versatile repayments. Pay off your loan early without prepayment charges.
  • On the web loan help. Monitor the progress of MyQL and access to your application the help 7 days per week by phone and real time talk.
  • Fast turnaround. Many borrowers close their property loans with Quicken Loans within thirty days.
  • Application deposit. You’ll need certainly to place straight down a deposit to utilize, as well as the deposit goes towards closing expenses in the event that you seal the deal on the new house loan.
  • Two-step procedure. Unlike completely mortgage that is online, you must talk to an agent getting your loan details finished.
  • Complex credit pulls. Some homebuyers had been amazed to view a credit check appear on the credit file it or gave authorization before they expected.

Compare Quicken Loans to many other mortgage brokers

Compare Quicken Loans with other lenders

Ways to get a true mortgage loan with Quicken Loans

1. See Quicken Loans online.

Connect to a mortgage specialist to begin with the applying procedure by phone or chat that is live.

2. To put on within the phone, call during company hours.

To begin with your Quicken Loans application within the phone, call Quicken Loans during business hours 7 days per week become matched having an advisor that will most useful provide your preferences.

3. To utilize online, start an on-line talk.

To start your Quicken application for the loan on the web, click talk near the top of the screen. A tiny pop up screen will be into the base right part of the screen.

4. Enter your details.

Enter your full title, e-mail target, located area of the home, intent behind the mortgage and telephone number. Simply Simply Click Publish.

A Quicken Loans group user will observe up with you by phone or email to begin with the entire process of obtaining your house loan.

What exactly is Quicken Loans?

Located in Detroit, Quicken Loans is the country’s largest mortgage company. It is also perhaps one of the most lenders that are highly-reviewed. The lending company gets A a+ score from the Better Business Bureau, plus it gets 9.6/10 movie stars from over 14,000 customers on Trustpilot.

However in June 2019, Quicken Loans had been purchased by a judge to cover a settlement of $32.5 million over allegations through the authorities that the financial institution knowingly submitted hundreds of FHA loans which were improperly underwritten. Quicken Loans decided to spend the settlement, but will continue to say that the business did absolutely absolutely nothing incorrect.

How is Quicken Loans pertaining to Rocket Mortgage?

Quicken Loans owns Rocket Mortgage, a website built to attract a brand new generation that’s more comfortable with end-to-end transactions online — including using, vetting, documents and money.

Think about Rocket Mortgage as an expansion of Quicken’s energy on the market. As opposed to consult with an agent, you enter your data into Rocket Mortgage’s site or application, and Quicken takes this information straight to the banking institutions.

If you’re a first-time homebuyer or have a similarly uncomplicated purchase when you look at the works, you merely could probably streamline the method with Rocket Mortgage.