Quicken Loans Review

Securing a mortgage loan or refinancing your home often marks an important step in achieving your family’s dream life. However, the complicated nature of mortgages can get in the way. That’s where Quicken Loans comes into play.

Quicken Loans is as easy as it gets when it comes to mortgages. They take your details through an easy online application process and quickly match you with the right solution for your specific needs.

Quicken Loans can help with a variety of loan types. At a glance, they offer refinancing options, reverse mortgages, specialist VA and USDA mortgages, as well as a unique YOURgage option. Yourgage allows you to customize the length of your mortgage to your financial goals with a fixed rate.

So, how can Quicken Loans help you refinance your home? In this review, we’ll take a closer look at everything Quicken Loans has to offer.

Pros and Cons of Quicken Loans

Pros:

Cons:

What Does Quicken Loans Offer?

Quicken Loans’ full range of mortgage loan services include:

If you’re not sure which loan best applies to you, Quicken Loans also offers a calculator you can use to help you identify the best loan for your needs.

What To Expect on the Site

In order to make the application process convenient, Quicken Loans has an online process. You’ll be asked a few questions about your home and financial situation, including:

After you complete the quick online form, Quicken Loans provides personalized quotes in minutes. If you move forward with an offer, the company performs a hard credit check. Additionally, you can send any financial documents that Quicken Loans needs through their secure online portal. Necessary documents may include:

You can then easily follow along as the process develops. If at any time you need help, you can reach out to Quicken Loans for support via live chat, email, and phone.

Pricing

If you’re applying to refinance your mortgage, it’ll typically cost about 2–3% of the total amount of the loan. Depending on your mortgage, you might be able to roll these costs into the loan, reducing your upfront costs. Fortunately, when you apply to refinance, you’ll receive an estimate of the fees and costs of your loan.

Pricing will change from person to person based on their situation, but Quicken Loans says its lender fee won’t exceed 1% of the loan amount. In order to give you a clearer picture of potential fees, we’ve outlined all common fees you may pay:

When it comes to repayment, Quicken Loans allows monthly, bi-weekly, and automatic loan payments.

The Bottom Line

If you’re looking to refinance your home but don’t know where to start, Quicken Loans can help you out. If you don’t know which type of refinance you want, the company’s extensive guides and experienced customer service team can help you understand your options. Additionally, Quicken Loans makes the process easy with a streamlined online process.

Given these points, Quicken Loans is worth considering as you compare the best mortgage refinance lenders.