NorthWestern Financial Review

Quicken Loans

Quicken Loans Overall rating: ★★★☆☆ 2.7 based on 14 reviews.
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Online Payday Personal Consumer Loans up to $5,000

Easy Application, Fast Processing, Quick Approval, Any Credit Score

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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.
Founded 1985
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

Bottom line

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);
  • “Yourgage”;
  • Adjustable-rate mortgage (ARMs);
  • USDA loan ;FHA loan;
  • VA loan;
  • Jumbo loan.

Loan requirements

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

Tags: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming

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Quicken Loans Reviews

I was a first time home buyer. I had no idea about this experience. Quicken Loans were so patient and informative! They answered all my questions and concerns. Every manager that I spoke to throughout the process was friendly and knowledgeable. I highly recommend them to anyone who plans to purchase a home.
- Lisa Beverly

Do not waste one single minute on this lender. They will NOT give you a rate until you fill out an application which is detrimental for your credit rating.
- David McDonald

I have had three mortgages in my lifetime and never had so terrible experience. BEWARE!!!
- John Sherman

Bad experience. No respect, no excuses... Their loans are very expensive. I’m a disabled veteran and was hoping for some understanding. I'm very dissatisfied! If not for my credit card I would've been left with nothing!
- Stephen Byrd

Their mortgage offices were helpful and kept me informed on every step. They always returned my phone calls and answered my questions. Sometimes the response times were longer but I think they have too many clients during this tough time. Overall I had a good experience with this lender and would recommend them to anyone trying to buy a home.
- Casandra Rhodes

I have a current mortgage with this company. The person I dealt with could not explain anything. Besides, he was very racist. I wish I had never applied for a mortgage with this racist company. I hate them. I would advise anyone to avoid this company! They are rude and not fair! I am going to file a complaint of discrimination.
- Ernest Sisson

Please avoid working with this company. They are liars and crooks. Their loans are astronomically expensive. They won't give you any advice or any information at all. So, if you are searching for a good lender, avoid Quicken Loans and save some time.
- Loretta Henley

It was as great to work with this lender! They helped me greatly with a home purchase. Their managers were always available either by phone or email. They were fast and honest with their answers and very friendly.
- Ruben Nixon

This lender is deceitful from beginning to end. They will take every extra penny from you. Their interest rates are extremely high! Never use them again!
- Louise Mauldin

The manager I spoke to was very knowledgeable and helped me to speed every step of the application process. Great customer support!
- Myrtle Bartlett

I recommend that you apply with a local mortgage company. It will be much better experience! Stay away from Quicken loans. They are sooooo slow to respond to customer questions. They also charge higher interest rates than anyone else.
- Charlie Nocera

Quicken loan team guided me throughout every step of the way. They are truly professionals, it's been a pleasure working with them.
- Numbers Greene

Awful experience. Very bureaucratic process. I have had reseveral loans in the past 6 years, but never had such a terrible experience as with Quicken Loans.
- Darla Hintz

The whole process with getting and repaying a home loan was easy. They kept me informed of all that was happening during the loan period. They are the best mortgage providers.
- Lori Long

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