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Quicken Loans ratings and customer service reviews

Quicken Loans ratings and customer service reviews

But technophobes aren’t excluded. Quicken Loans will let you apply and manage the loan process using the phone, email, fax, and snail mail. You just won’t get to look a navigate to the website loan officer in the eye.

Finally, the company’s RateShield Approval offering lets you get pre-approved for a loan and fix your interest rate for 90 days while you find the home you want.

Actually, “fix” isn’t the right word. Your rate will stay the same if mortgage rates rise but can still move down if they fall.

Quicken Loans is one of the highest-rated mortgage companies. In 2020, it scored the top rating on J.D. Power’s customer satisfaction survey. That was its 11 th consecutive year in the number one spot.

Quicken also has an A+ rating on the Better Business Bureau, and it gets less than one complaint per hundred customers according to the Consumer Financial Protection Bureau (CFPB) database.

Mortgage loan products at Quicken Loans

You don’t get to be the biggest lender with a small portfolio of products. So it’s no surprise Quicken Loans has a good selection, including:

These let you access the equity in your home without selling. And you don’t have to make any monthly payments. But the cumulative borrowing costs may mean you won’t have much equity to leave your heirs.

No second mortgages with Quicken

Quicken does not offer home equity loans or home equity lines of credit (HELOCs). But homeowners can access their equity with a cash-out refinance.

Cash-out refinancing pays off your current mortgage and replaces it with a larger loan, paying you the difference in cash at closing. This loan type works best when homeowners can get a lower rate or shorter loan term in the process.

Where can you get a mortgage with Quicken Loans?

Quicken Loans offers mortgages in all 50 states, although it has no brick-and-mortar branches where you can apply in person.

After requesting a call online, you can use the phone, email, fax, and postal service all the way up to closing. Talking to a loan officer over the phone might be especially helpful if you’re a first-time homebuyer who’s not familiar with the application process.

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