Many or all of the companies featured here provide compensation to us. These commissions are how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below. Learn more

Quicken Loans Mortgage Review Rating: 4.8 / 5 (Excellent)
30 Customer Comments & Reviews - see all comments
Our content is free because we may earn a commission when you click or make a purchase using our site. Learn more.
Quicken Loans is a Detroit-based company founded in 1985 with the aim of providing mortgage financing options such as purchase and refinance loans. The company offers convenient services online and via their mobile application as well as step-by-step assistance from experienced mortgage bankers. It has a 5-star TrustPilot rating, and an A+ score with the Better Business Bureau (BBB).

How is Quicken Loans rated?


Lender Types
Available Mortgage Types
Customer Experience
Reputation & Transparency

Overall Rating: 4.8 / 5 (Excellent)

Quicken Loans has become the largest online mortgage lender in the U.S. and one of the most successful retail mortgage lenders in the country, second only to Wells Fargo.

Since they work with a vast network of lenders, borrowers are sure to find an option they can qualify for.

Quicken Loans has an extremely high rate of customer satisfaction, which is not common in the industry, making them an excellent choice for anyone shopping for a mortgage.

As part of their continuous drive to ease the mortgage process, Quicken Loans has recently developed an eClosing network, a mortgage closing with a digital note. It can be done one of three ways: an in-person hybrid eClosing, an in-person electronic notarization (IPEN), or a remote online notarization (RON). Hybrid eClosing is currently available for mortgage refinancing in all 50 states, though IPEN and RON are still being phased in. However, as more states adopt the technology, the growing network will allow any Quicken Loans mortgage to take advantage of the eClosing option.

Quicken Loans Loan Specifics

Available Mortgage Types - 5 / 5

Quicken Loans is a lending marketplace that offers a variety of mortgage options and terms, including conventional loans, adjustable rate loans, jumbo loans, VA, and FHA loans.

They offer pre-approvals and pre-qualifications as well, which can help increase a borrower's chances of obtaining the home of their dreams, demonstrating the seriousness of their commitment.

The company offers a wide variety of mortgage options, including:

Adjustable Rate Mortgages (ARM) - Quicken Loans offers adjustable rate mortgages with low fixed interest rates and lower monthly payments for a specified period (five, seven, or ten years). Once this period ends, your rate can change annually, but will never increase more than 5% of the original rate. These types of mortgages usually have a lower interest rate than fixed-rate mortgages.

YOURgage - The great thing about this loan is that it’s fully customizable. Quicken Loans lets you choose a custom term (length) with a fixed interest rate for 8 to 29 years in order to meet your financial goals. Consumers who use YOURgage and choose a short term end up paying less interest on their loans. Down payments can be as low as 3% for consumers buying their primary home and loan amounts can be for up to $484,350.

Federal Housing Administration (FHA) loan - FHA loans are ideal for consumers with low credit scores or low incomes. In some cases, consumers who have gone through bankruptcy have still qualified for an FHA loan. Consumers may even qualify with a down payment as low as 3.5% and a credit score of 580. Quicken Loans offers FHA loans for different terms, so consumers can choose the length of the mortgage.

30-year fixed mortgage - Consumers who choose a 30-year fixed mortgage don’t have to worry about changing interest rates or changing monthly payments, which makes budgeting that much easier. Monthly payments are lower with a 30-year fixed mortgage than with a 15-year fixed mortgage, but the interest rates are a bit higher.

15-year fixed mortgage - This mortgage shares many of the same benefits as the 30-year fixed mortgage, but monthly payments are higher. It also allows consumers to pay less interest in the long run and to finish paying off their mortgage in shorter span of time.

VA loan - Backed by the Department of Veterans Affairs, this loan is offered to borrowers who meet the department’s guidelines for military service. Quicken Loans recommends a credit score of at least 620 and a maximum debt-to-income ratio of 60% before applying for a VA loan through them. These loans can be fixed-rate, adjustable rates, or jumbo loans.

Jumbo loans - Jumbo loans surpass the conventional loan limits ($484,350 in most of the US) and are therefore the type of loans used for purchasing larger, more expensive homes. Quicken Loans offers jumbo options of up to $3,000,000 with fixed or adjustable rates and different mortgage lengths.

FHA Streamline - Ideal for consumers who already have a Federal Housing Administration home loans and are looking to refinance in order to have a lower fixed interest rate.

Reverse mortgage – Available to homeowners who are over the age of 62 and want to tap into their home’s equity for some needed cash.

Quicken Loans Customer Experience

Customer Experience - 4.9 / 5

QuickenLoans has a very well-developed website, which offers a wealth of educational resources, such as various calculators, help articles, and daily mortgage rates alerts via email or text.

After answering a few questions online, you will be contacted by a QuickenLoans expert to clarify the process and discuss your options.

On March 30, 2020, the company addressed how the coronavirus pandemic might affect the mortgage process in some areas. It stated:

"Even though shelter-in-place orders are in effect in many areas of the country, the mortgage process can still continue. Appraisers, closing agents and other people who need to enter your home can still do so under the shelter-in-place order. In some cases, we even have alternative ways to complete these parts of the process that don’t require entering the home.

We’ve made a slight adjustment to our rate lock process to accommodate shelter-in-place orders. Under normal circumstances, you’d lock your rate before underwriting begins. In areas where shelter-in-place orders are in effect, we can’t offer long rate locks because everything is changing so rapidly. If you’re in one of these areas, you’ll simply lock your rate closer to closing day."

Online Features

Online Application
Online Quote
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Help Articles
Check Today's Rates
SSN Required for Quote

Quicken Loans Qualification Requirements

Qualification Requirements - 4.8 / 5

QuickenLoans doesn't originate loans themselves but connects qualified borrowers with competitive offers from lenders within their extensive network.

Their minimum FICO score for most loans is 620, while the minimum for government-backed FHA loans is 580. Minimum down payments vary: FHA loans require as little as 3.5%, whereas conventional loans require a more substantial cash down amount.

Key Requirements at a Glance

Minimum FICO Score
Non-Traditional Credit History Considered?

Quicken Loans Lender Reputation

Reputation & Transparency - 5 / 5

Quicken Loans boasts an extraordinarily large number of positive reviews on the Better Business Bureau (BBB), as reflected in their A+ rating with the organization.

Their high levels of customer satisfaction are further confirmed by their excellent 9.6 Trustpilot score.

Despite the size of the company, there have only been four regulatory actions taken against this lender, according to the data collected by the National Mortgage Lender's Association.

This is surprising given that the number of complaints within the industry is usually much higher.

If you would like to know more about top mortgage rates, you can read our review of the 10 Best Mortgage Rates of 2019.

Key Facts

Lender Type
Year Founded
BBB Rating
BBB Positive Reviews
BBB Negative Reviews
TrustPilot Rating
9.6 out of 10
Collection Date

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
The Nationwide Mortgage Regulatory Actions
Consumer Financial Protection Bureau Complaints

Company Profile

Full Name
Quicken Loans Mortgage
Company Website
1050 Woodward Avenue, Detroit, MI, 48226


Your exact interest rate will depend on the date you lock your rate.

Once you submit your signed purchase agreement, we’ll compare your rate to our published rates for that date and re-lock your interest rate at the lower of the two rates for an additional 40 to 60 days.

Quicken Loans reserves the right to cancel this offer at any time. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans.

This is not a commitment to lend.

Additional conditions or exclusions may apply.

Data based on Quicken Loans data in comparison to public records.

What We’re Hearing From Our Readers
Are you a customer of Quicken Loans Mortgage?
Submit a comment and tell other people about your experience!
Minimum 12 words.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

Customer Comments

Loading Reviews ...
I'm a first time borrower at Quicken Loans. I read 100's of comments about Quicken Loans here and elsewhere on the internet and was totally blow away by them. So this may be lengthy and I apologize ahead. No one can run your credit without your SS # that's the first thing. When you give them your SS# you are in essence saying it's ok to run your credit. This is a no brainer. It's also a hard hit. When they say you qualify for a loan that's not saying you have been approved. They can't know if your approved until all your paper work is in and been verified 100%. Sometimes they even verify it twice. They have this right as they are giving you thousands upon thousands of dollars to... Read More
252 People found this helpful.

kristi b
NO NO NO NO!! Don't fall for their tactics. The originator makes everything sound hunky dory and magical unicorns! But then after you've paid $500 and provided them with documentation after documentation, it stops. Even showing $150,000 income and a 700 credit score! We told them we would file a new tax return, they said that might help. We tried calling back and the originator was TOO BUSY (his exact words) to speak to us. Don't waste your time!
229 People found this helpful.

While they are very nice people to talk to, their rates are way higher than everyone else's. If you read their claims and compare it to other's, you will see that they do not claim to have low rates nor anything of this sort. They are practically "advance paycheck" kind of place that will give you money very fast, but at an absurd rate (50% higher interest rate than all other lenders)
200 People found this helpful.

Teresa V
Nothing fast at all about the process with Quicken, also they inquired about very personal matters, like the status of my marriage (which is mortgage discrimination according to the Federal Trade Commission) and required more documents than needed to process a loan. Stated I was approved at one point, then rescinded that and requested more and more info. Still waiting and VERY unhappy with this lender. If I didn't have to close within the next two weeks or be homeless because I'm selling my current home and close on it, I would go with another company, even though this was supposed to have already closed! Would NEVER recommend them at all.
188 People found this helpful.

Paul h
I am up set . a counselor named Matt promised me I would not have a credit report search logged against me and its showing that a credit report was pulled in spite of a hold on my account. If you can't take a man's word for this then they are not reliable.
161 People found this helpful.

Mike W
Waste of time. Other places will give you rates with a self reported score on credit. But Quicken requires a credit pull. It is not a customer focused exercise. It is to benefit Quicken not the customer.
151 People found this helpful.

tim z
High pressure phone salespersons. They will not provide rates over the phone - even if you already know your score - without a hard credit pull on you. When you ask to decline the credit report and that your just shopping, they go into aggressive sales mode and don't let you go without harassing you
139 People found this helpful.

Once inquired about a loan, was told to send them $500 and they will look into it and send me a refund of the monies they don't use for their efforts. Ya sure ! Somehow they'd eat up the $500 and say send us more. This is how they make their money !
115 People found this helpful.

I am a first-time buyer and Quicken Loans helped me through the entire process. Very happy with Denise Brown, my banker, and the rest of the team. I was pretty nervous, but they made me feel I could do it. Now I am the happy owner of a little house! Thank you, Quicken Loans!
56 People found this helpful.

Shelley S
Quicken saved us a lot of money on our mortgage payment. Loved our banker that we worked with. He was very helpful in our home buying process. Did not care much for our loan specialist. He did not seem to care about answering questions we had about the mortgage process. Overall we are pleased because of the money we saved. Thanks Quicken!
49 People found this helpful.

Top Rated
Our Partner
  • Winner of 9 J.D. Power Awards for Best Customer Service
  • Industry-leading online tools & award-winning customer service
  • eClosing allows customers to close electronically, simplifying the process
  • Get a pre-authorization letter to buy a home
  • Quicken Loans is the largest online mortgage lender in the U.S. 
  • See today's rate & get the best rate in a 90 day period