I did a home re-fi loan under the HARP Program through Quicken loans. The process was smooth and painless. I had tried to REFI through Quicken in August 2011 but was too far under water after the appraisal.
I received a call back from Quicken two weeks prior to the new HARP Program being implemented in March 2012. I was approved at 125% of their estimated value without having to have a new appraisal done.
My loan adiser stayed in touch via phone, email and the Quicken online loan site (MYQL.COM). My loan advisor provided me with various options based upon the length of loan I desired and made options all very clear.
Originally I was presented with a choice of a thirty-year or 15 year option. I also requested a loan lenght of 22 years (my time remaining on my current note.) I was also supplied - while I waited with the calculations for a twenty-year note, and the pros and cons were explained thoroughly and patiently.
At the time of my REFI my original loan rate was 5.767% APR through CitiMortgage on an original 30 year loan. Quicken offered me 4.5% on a 30, 22, or 20 year loan or 3.99% on a 15-year with no appraisal and no points. I contacted CitiMortgage and the best they offered me without points or an appraisal was 5% on a 22 year loan. I was happy to continue with the process through Quicken!
Everything went smoothly and all questions were responded to quickly. It was easy to submit documents and clear as to what was needed.
I was promised a $500 rebate check which arrived approximately one week after the closing that went very smoothly.
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