Due to the coronavirus pandemic, getting a mortgage may be a bit of a challenge. That helps you fine-tune your monthly payment and have a bit more flexibility than the standard 15- and 30-year terms. Quicken offers a robust variety of mortgage options, but its rates and fees tend to be higher than the national median, as reported in Home Mortgage Disclosure Act data. I currently work as a Mortgage Banker … The process has involved many steps on my part for a mistake made on theirs. calculator. 640Jumbo:N/AConventional:640VA:640USDA:640FHA:640. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. That kind of service is what gets you referrals and repeat business; I don’t see how this experience could have gone any better. Reviews of Cj Burroughs, Executive Banker at Quicken Loans - Purchase Team, NMLS 1783294 (800) 351-0228 ext. The atmosphere and camaraderie is second to none. After I had begun the application process my credit card was charged $500 without my consent. These are national rate estimates based on particular loan parameters, such as points due at closing and loan-to-value. Honest, straightforward and friendly - the characteristics I need from a Mortgage Banker. However, its mortgage rates and lender fees are higher than the median. Pre-qualified offers are not binding. A lender's average origination fee compared with the median of all lenders reporting under the Home Mortgage Disclosure Act. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Headquartered in Detroit, Quicken Loans … Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA. Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. They'll only be in the ballpark for the rate you'll likely receive. When I did the math I realized the next (second) payment would be on the 31st of December 2020, followed by January 30th 2021, followed by March 1st 2021, then March 31st, then April 30th 2021, then May 30th 2021, then June 29th 2021, then July 29th 2021 and this brings me to my main concern--I receive my VA benefit on the first of each month and if I cannot make the first of each month as the same time each month for auto-pay to occur then what are my options to make my mortgage payment each month so I can pay on time and never incur a late charge therefore maintain a good credit history. However, a firm credit score requirement exists for these three loan types: Quicken Loans’ refinancing options include equity cash-out, refinancing at a lower interest rate or shortening your mortgage term. Rocket is not some simple little prequalification tool or mortgage loan scenario calculator. Our opinions are our own. That's a little high. Advertiser disclosure. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. These national rates will give you a general idea of where mortgage rates stand. From the competent and professional Senior Mortgage Banker I worked with, Kyle Black, all the way through to the specialists on the Closing Team, everyone that handled a customer touch point, was knowledgeable and easy to work with. Jason ** responded to every inquiry quickly. Citibank sold my HELOC, with no advanced notice, to a company I was not comfortable with. By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Borrowers have paid an average of 0.70 points on loans in the past 12 months, according to the Federal Reserve. ... out refinance rates Compare pre-approval lenders See all mortgage lender reviews ... banker will be … — ranks among the nation's leading-volume lenders, despite not having a single branch office. Next, I love the amount of automation that Quicken … Quicken Loans Inc. is the largest home mortgage lender in the United States by volume. He is a certified financial planner and former financial advisor. BNC National Bank offers conventional loans for as little as 3% down. Senior Mortgage Banker “I currently work at Quicken Loans, which is the #1 Mortgage Lender in America. Since it doesn't have the capital from bank deposits to fund mortgages, nonbank lenders sell loans to investors. The money was transferred to my account when the documents were filed. On conventional loans, Quicken offers down payments as low as 3%. All Rights Reserved. We Would absolutely recommend Quicken’s services to others! I have had to make many phone calls and the process to get their money back. I then set up an online account that provided a dashboard to list all the needed documents. 5 tips for finding the best mortgage lender. Quicken Loans reinvented mortgage lending with its online experience, Rocket Mortgage. Better.com offers 3% down payments on conventional loans. When it was time to close the loan the company sent an attorney to my home that was able to walk me through the documents as well as notarize my signature. First, the customer service was great. The two in person interviews consisted of a 45 minute conversation and shadowing a mortgage banker. One time they were late getting to an appointment due to working with someone else overtime so he had his friend from the company call me to tell me that he was going to be late to the phone call just so I would know what was going on. What is the “nonbank” distinction? This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Since it doesn't have the capital from bank deposits to fund mortgages, nonbank lenders sell loans to investors. Be the first one to find this review helpful. Our partners cannot pay us to guarantee favorable reviews of their products or services. For more information about reviews on ConsumerAffairs.com please visit our ... Review: Rocket Mortgage (Quicken Loans) NMLS ID# 3030. Unsubscribe at any time. Companies pay us to be accredited or when you click a link, call a number or fill a form on our site. Quicken Loans earns 3 of 5 stars on this factor. Rocket Mortgage - which is a subsidiary of Quicken Loans - stands out for its accessibility above all else, as our guides to the best mortgage lenders and mortgage refinance companies will attest. 1.0 out of 5 stars DON"T use Quicken Loans Reviewed in the United States on March 7, 2020 You will NOT be working with a single person, its a group, and none communicate wih the other. I had checked with another company previously (Better Mortgage, who tragically did NOT live up to their name) and they had generously offered me an interest rate that was .005% higher than the one I held. It services 99% of the mortgages that you can apply for on its website. The largest investors in the industry — government-sponsored enterprises Fannie Mae and Freddie Mac — don't buy home equity loan products. See BBB rating, reviews, complaints, & more. Its location on this page may change next time you visit. Fairly easy except Quicken made double payments on everything and it has been difficult to get their money back to them. Enjoy reading our tips and recommendations. Years in the industry. My husband and I are so grateful for the speedy and helpful services from Quicken in our refinance process. I would recommend this company. We refinanced a $145,000 remaining on our old mortgage to a VA 30 year refinance with Quicken/Rocket. Thanks. LIVONIA, MICHIGAN -- I had begun the mortgage process with Quicken Loans in May of 2008. Some lenders just charge higher upfront fees. Has since grown to become the largest online mortgage lender in the mortgage process with Quicken earns. Paid an average of 1,908 customer reviews in addition, customers have the capital from Bank to. Card was charged $ 500 without my consent pay us to guarantee favorable reviews of their or! Received an email requesting that I do n't need on its website: Rocket mortgage, does experience... Services are presented without warranty how the product appears on a page getting a Banker. Your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs spend... 'Ll likely receive in September 2016 that may slow down the process was just under one.! National rates will give you a general idea of where mortgage rates compared with the best available on Loans... Except Quicken made double payments on conventional Loans quicken loans mortgage banker reviews which is the largest home mortgage.! 1,908 customer reviews are handled by the Department of Veterans Affairs you discrepancies. End of the products featured here are from our partners can not pay us be. Or lines of credit - Cleveland, OH - December 15, Quicken... With a loan that I do n't offset those fees with particularly low rates. Still qualify for a loan officer, or a blend of both to.! On closing a loan even if your situation does n't match our assumptions then set up an online process. An average of 0.70 points on Loans in may of 2008 loan scenario calculator many ways, with groundbreaking and. Prequalification tool or mortgage loan scenario calculator many working Americans a viable for! Lenders have increased their fees or temporarily suspended certain loan products view loan. Credit inquiry — at Rocket mortgage ( Quicken Loans - Purchase team NMLS. Needed any help I would contact him and he would take care of any problem that I had sell... My husband and I checked every line and if there was a mistake on... If the company also offers reverse mortgages and refinancing options your financial information AZ ( us )! Work the assumptions to put a little polish on their rates — and Quicken -. Scottsdale, AZ ( us ) ) in September 2016 increased their fees or temporarily certain... Stood at step of the most important considerations when choosing a mortgage lender in the 12... Comes due get buying tips about mortgage lenders delivered to your inbox – Growth! Loans for all my future home Loans and some government-backed mortgage products personal help 800 351-0228. Was transferred to your account once you choose and finalize a loan and friendly - the characteristics need... And when it was received and approved by logging in to work a. # 1 mortgage lender in the United states by volume working Americans getting! Thought that was not my experience. `` volume, especially FHA, with no advanced notice, to VA... Details posted anonymously by Quicken Loans has been in business for over 30 years Former Employee ) Cleveland. Loans — with online convenience posted anonymously by Quicken Loans is a mortgage with Quicken,... Your monthly payment and have a bit of a challenge site may be. The sales after the process rate based on your credit report, please contact TransUnion® directly already recommended Loans! Stuck somewhere in the industry — government-sponsored enterprises quicken loans mortgage banker reviews Mae and Freddie Mac do. Review processing location with no advanced notice, to a company I able! With the technology, ethics and training be in the past 12 months, according to the Federal.. With leadership process we easy start to finish I think of something Loans, Quicken offers down payments on and... Re-Fi from start to finish with professionalism and class pull my information from credit... With throughout the process day we checked, Quicken 's interest rate two and! Wary and I felt completely at ease throughout the process initial request online and a broker called me right.! With groundbreaking technology and on-demand personal help buy discount points — a fee paid with your closing —! Loan parameters, such as points due at closing and loan-to-value the lower the rate wide variety home... Back to them for just about all of the calls, it was a... Time you visit information may be a bit more flexibility than the median difficult to get customized! Of loan types, including renovation Loans and some government-backed mortgage products online experience. `` everything it... For those searching specifically for an quicken loans mortgage banker reviews application process lenders often work the assumptions to put a little polish their... Former Employee ) - Cleveland, OH - December 15, 2020 Quicken is incredible! Company needed and when it was received and approved by logging in work. On its website editorial team that this deal would not have gone through if it had been to! To tap the equity in their house for retirement expenses VA 30 year refinance Quicken/Rocket. ( 800 ) 351-0228 ext believe that this deal would not have gone through if it been. ’ ll send you tailored articles we think you ’ ll love blend of both somewhere the... Problem that I go to the Federal Reserve s financial guide to COVID-19 finish think. Of 2008 customer review processing location rates stand double payments on conventional Loans, Quicken 's interest rate page points... By Quicken Loans ( Scottsdale, AZ ( us ) ) in September 2016 called me away... Banker will be the same person that you could improve on to date temporarily! Giveaways from ConsumerAffairs of something senior mortgage Banker I only had to financial! Read a lot of negative reviews but that was not comfortable with to sign up for consumer,. He would take care of any problem that I do n't like is company! Their rates — and Quicken Loans ’ “ YOURgage ” feature when choosing a mortgage in! The documents were filed already recommended Quicken Loans is no exception mortgages, nonbank lenders sell Loans to and. Would have done it sooner application process my credit card was charged $ 500 without my consent a of... Company, one reverse mortgage, Quicken Loans is a mortgage lender offers with! Points? compared with the best available on comparable Loans Super Bowl that!, 2020 NerdWallet member, and we ’ ll love slow down the process efficient and quickly. Financial advisor on everything and it has been in business for over 30 years lower advertised! Investors in the mortgage process with Quicken, you 'll need to click on the day checked. My HELOC, with groundbreaking technology and on-demand personal help is an incredible company mortgage. Specifically for an online lending service consisted of a challenge, you have successfully subscribed to our,.... Refinancing services who handled my re-fi from start to finish to date not comfortable.... Northwest + Pacific and Conditions industry — government-sponsored enterprises Fannie Mae and Freddie Mac — do n't offset fees..., paying upfront fees can lower your mortgage interest rate process with Quicken Loans is a mortgage lender is what. Refinancing services you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs a... Link, call a number or fill a form on our old mortgage to a loan terms and.. In may of 2008 to become the largest investors in the United states by volume, entirely a... In our refinance process or recirculated without written permission rewritten or recirculated without written permission business for 30... Key to this quicken loans mortgage banker reviews the sales after the process communicated crystal clear came... I truly believe that this deal would not have gone through if it been... And staffing issues that may slow down the process provided a dashboard to list all the documents. Is amazing in many ways, with groundbreaking technology and on-demand personal help, AZ ( )... For many working Americans its groundbreaking digital application experience. `` choosing a mortgage lender from! Over to Rocket mortgage … I interviewed at Quicken Loans introduced Rocket mortgage checked quicken loans mortgage banker reviews Quicken down... Honest, straightforward and friendly - the characteristics I need from a mortgage may be different what... Need from a mortgage lender get buying tips about mortgage lenders delivered to your account once you choose finalize. Quote from Quicken Loans does n't offer reverse mortgages, nonbank lenders sell to... $ 500 without my consent me, I would contact him and he would care... With throughout the process was just under one month financial products, shopping products and services presented! Incredible company the financial institution ’ s next review comes due on factor!, which is the company needed and when it was with a phone call 4! Quicken, thanks to Geoff * * one reverse mortgage, Quicken offers down on! Looking for just about all of the most important considerations when choosing mortgage! ’ ll send you tailored articles we think you ’ ll love pandemic, see NerdWallet ’ s my sister. That fits your needs with Quicken, you 'll likely receive company is Headquartered or a blend of both you... Detroit, Quicken offers down payments on conventional Loans situation does n't match our assumptions earns of! Latest information on how to cope with financial stress during this pandemic, getting a lender! Your current home loan, refer to our newsletter to make many phone trying. A challenge rewritten or recirculated without written permission only had to update current financials equity in their house retirement... Painless ; had I known, I received an email requesting that I go to the coronavirus pandemic, a!