Ask questions via Twitter. Tweet any question to @AskFiLife and we will respond with an answer. More.

FiLife - In partnership with The Wall Street Journal

Your Financial LifelineTM

In partnership with The Wall Street Journal
 
 

This review is from Purchase Mortgage from Quicken Loans

W. R.
FiLifer
W. R. said
about a year ago
2.0

Quicken loans is all over the place so I thought I give them a shot for my home purchase. The process is handled first online through a form, then by phone with the loan agent.
I didn't have any problem working remotely with Quicken. It was easy and the agent was well informed and friendly (but pushy!).
Full disclosure: I didn't close with Quicken which brings me to the problem I had. The rates I was quoted were not competitive. Well, that is they were represented as competitive but when I lined up a couple of Good Faith Estimates from other institutions, I found that the deal wasn't even close.
Quicken then relies on people who really don't know how to compare rates, points, and fees from institution to institution. Also, it's a BIG hassle to do that.
GOOD: Easy online form fill process, experts on the phone on mortgage terms, trusted brand, fast responses
BAD: Rates are average at best, pushy salespeople.
Overall, this might not be a bad option for those that need reliable and well executed closing. However, I want to pay as LITTLE as possible (mortgage are a commodity) so I am willing to go through the hassle to get a better deal.

Is this helpful?

Yes

(1)

No

(0)

Permalink | Abuse

Login or Join

or login with

Expert Partners

Ask a Question

140 characters

Stacker Poll of the Day

What age should you start your child's allowance?

Avg 8.4
 
Avg 8.4
 
249 responses