Quicken Loans

Quicken Loans

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Quicken Loan Process Review

Dec 10, 2012 (Updated Dec 10, 2012)
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Rated a Helpful Review
  • User Rating: Excellent

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Pros:The MyQL website and app for my iPhone really made staying informed easy.

Cons:It took a lot longer than it should have to close our loan.

The Bottom Line: Their rates and closing costs are very competitive.  Appraisal was right on the money.

We applied for and received a refinance loan from Quicken which substantially reduced our interest rate, payment and cut our loan term nearly in half.Well, let me preface this by saying that in spite of everything, I'd still do business with Quicken and I'm happy that we're one of their customers.
We submitted our application on Aug 4th and didnt close our loan until Nov 28th.  Not exactly the 30 days they crow about in the ads. I think the team we had assigned could have been a lot more proactive in sheperding our application through the underwriting process which is where it got bogged down.  Somebody should have grabbed the bull by the horns and been given the authority to handle whatever needed to be handled so we could move to closing.  It really became quite ridiculous and at some point it would be nice if someone from Quicken would call and say they were sorry at least for putting us through all the stress.
At the end of the day though, after I called and told Customer Relations we were getting pretty frustrated and they assigned someone to solve whatever issues they had  - and he did.
In closing, I'd reiterate that I'd still do business with Quicken, my only advise being not to be as patient as we were and to contact Customer Relations right away if it seems you're going in circles.

We are receiving a gift card for providing this review.    

Recommend this product? Yes

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