The Convenience of the Web and Personal Service from Professionals - Best of Both Worlds!!!
Written: Jul 11 '06
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Pros: Quicken Loans is easy, convenient, personal, professional, and honest! I recommend them to everyone!
Cons: I now find myself feeling let down by other on-line companies/services that don't measure up.
The Bottom Line: I recommend Quicken Loans to anyone that is considering buying a home or refinancing. They're the perfect blend of great products, convenient technology, and good old fashioned personal service!
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| tuffcritic's Full Review: Quicken Loans |
If you are looking for the convenience of a web based lender, but the personal service you'd expect from a local bank, Quicken Loans is it.
Starting the process was very simple. I just entered some brief information through their web site (or you could call their 800 number). I was then contacted by a Mortgage Banker that actually cared about my situation! He didn't just quote me a rate like most lenders. He gave me his phone number, e-mail, and pager, so I could literally get a hold of him anytime I needed 7 days a week (try getting that at your local bank or credit union!). He collected some additional information from me, and we went over my entire financial situation, my current needs, and my future goals. He then walked me through several different options and pointed out all of the pros and cons so I could make the best decision for my situation.
I am a first time home buyer and financed 100% of my purchase price. I had money to put down, but wanted to hold onto it right now for other things. My Banker helped me find the best option to do that without having to pay costly PMI. I have a 1st and 2nd mortgage and the payments are great! I chose a loan option that offers maximum payment flexibility. I opted for a program that allows interest only payments on the 1st mortgage along with a traditional 2nd mortgage. Instead of having to pay towards the principal of my 1st mortgage every month (like with most traditional mortgages), I can take that money and apply it towards the principal of my 2nd mortgage which has a higher rate. Having the flexibility to pay less towards the lower interest loan in order to pay more towards the higher interest loan makes perfect financial sense, and will save me quite a bit of money.
After we talked, he sent me the full application package on-line with all of the details. I just logged in to my personal account on their site, and all of my application documents were right there on the web site. Everything matched exactly what my Banker and I had discussed. I was even able to sign all of my application documents right on the web site. Their web site remained useful throughout the entire process. I could log on to the site at any time 24/7 to track the status of my loan.
After choosing the best loan and completing my on-line application, I started communicating with my loan Processor. She was also very kind and professional. Like my Mortgage Banker, she gave me all of her contact information to reach her directly. She stayed on top of everything and made sure everything was in order. She even called me several times to remind of when I would need to obtain homeowners insurance by. I'm glad she was on top of that, so I was able to provide that to her in time to avoid any delays in my closing. She kept track of all of those little details, so I didn't have to.
When we were getting close to my closing date, my Processor called me to go over all of the details of the loan one more time to make sure everything was accurate, and that any of my questions were answered. She sent me everything to review in advance of closing. She also got everything over to the title company that was handling the closing, so they would have everything ready.
Closing was a breeze, and there were no surprises. I was so glad that my first home buying experience was not ruined by a mortgage company that tried to pull something over on me at the last minute. I have heard horror stories of this happening with other companies.
That was it. Couldn't have been easier. It was so convenient being able to handle this on-line and by phone from the comfort of my home and office. I didn't have to sacrifice great service for that convenience either. In fact, I could not have gotten more personal service from anyone anywhere else! I could reach my Mortgage Banker 7 days a week and I didn't need to make appointments to do it. When I couldn't reach them, my messages were returned promptly.
Recommended:
Yes
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Epinions.com ID:
tuffcritic
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Member: Jeff
Location: Warren, MI USA
Reviews written: 1
Trusted by: 0 members
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