Quicken Loans is the largest online mortgage lender. The company was founded in 1985. Headquartered in Detroit, this lender has provided more than 2 million American families with home loans. It offers loans in all 50 states.
|Company name||Quicken Loans Inc.|
|Address||P.O. Box 6577. Carol Stream, IL 60197|
|Phone number||(800) 508-0944|
- Experienced lender
- Available in 50 states
- View loans without affecting credit
- Instant streamlined preapproval
- Fast turnaround
- Flexible repayments
- Government-backed and conventional loan options for home buyers
- Online tools to upload documents
- Best customer satisfaction
- Manage your account on the go
- Works with investors and people buying second homes
- Extensive educational materials
- Plan ahead with mortgage calculators
- Application deposit
- Two-step process
- No face-to-face customer service
- Hard credit pulls
- Rates might be higher than advertised
- No home equity loans or lines of credit
Quicken Loans offers fast loan application, affordable rates, and great customer service. If you’re interested in buying or refinancing a home, this lender could become a good choice. They are also great if you are comfortable applying online and don’t need to meet with your lender face-to-face.
However, before applying for a loan, make sure that you compare rates from several lenders before making your final decision.
Types of loans
Quicken Loans offers the following products:
- 30-year, fixed-rate mortgage (FRMs);
- Adjustable-rate mortgage (ARMs);
- USDA loan ;FHA loan;
- VA loan;
- Jumbo loan.
To be eligible for a mortgage with Quicken Loans, you’ll need to be at least 18+ years of age (19+ in some states), be a US citizen or legal resident, have a credit score of at least 580 for FHA loans, 620 for conventional and VA loans and 700 for jumbo loans.
You’ll also need to make a down payment of at least 3% for conventional loans and a deposit between $400 and $700 to cover the good faith deposit.
Be prepared to provide the lender with:
- Your full name and personal contact information;
- Your SSN;
- Pay stubs from the past month;
- Profit and loss statements if you are self-employed;
- A complete list of your debts, loans, and credit cards;
- W2s and 1099s from the past two years;
- A list of your assets, including real estate, savings, car titles and other investment records;
- Personal tax returns from the past two years.
Category: Online Loans
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