Quicken Loans Review

Michael Dinich

In a Nutshell

Quicken Loans offers a large range of mortgage options including refinance loans, FHA, USDA, VA loans, jumbo loans and more.


  • Fast application process
  • Many loan options
  • Lots of educational resources


  • No FAQ section
  • Live chat isn’t 24/7
  • Huge range of options can be confusing

Quicken Loans Quicken Loans Visit Site

Quicken Loans at a Glance

 Loan Types

Fixed-rate, ARM variable-rate, and refinancing loans

 Featured Loans

Conventional, FHA, VA and USDA mortgages

 Repayment Terms   

15- or 30- year fixed-rate mortgage, 5- or 7- year ARM mortgage

 Down Payment

3.5% on some loans

 Credit Score

620+ for most loans

Suitable For

Comparing loan options at a glance

Direct Lender or Marketplace 
Direct lender


Quicken offers a large range of mortgage and refinancing loans, including reverse mortgages, specialist VA and USDA mortgages, refinancing options, and a unique YOURgage option. Quicken uses cutting-edge technology to guide borrowers to the right loan product and complete the loan approval process quickly. Quicken stands out for offering home equity loans for almost every possible scenario so that you can find a suitable home financing package. Some Quicken Loans highlights include: 

  • Borrow up to $3 million

  • 5- or 7- year ARM or 15- or 30- year fixed-rate loans

  • Wide range of loan options

  • Loans for specific situations like low-credit, low equity refinancing, and very large loans

Suitable For?

Quicken Loans is suited for almost anyone, thanks to the large range of loan options. It's especially easy to compare among the options that Quicken Loans can offer you. 


  • First time buyers will benefit from FHA mortgages with lower credit requirements along with Quicken’s extensive educational guides for new buyers

  • Homeowners looking for refinancing with low or no equity in their current home can find guidance from online resources and use the HARP refinancing option

Featured Loans

Quicken’s fixed-rate loans include an FHA fixed-rate loan for first-time buyers with under 20% down payments. There’s also a traditional 15- or 30- year fixed-rate loan that requires a minimum down payment of 3% and a Jumbo loan that is expressly tailored to borrowers needing loans of over $453,101 up to a maximum of $3 million. Quicken’s Jumbo, fixed-rate, and ARM loans are all available on special VA loan terms to eligible veterans too.

Flexible loan options include:

  • FHA mortgage

  • Streamlined refinancing

  • The YOURgage mortgage, which allows borrowers to choose their term between 8 and 30 years with fixed rates and a minimum of 3% down payment

  • Flexible loans including 5 or 7 year ARM or refinancing

  • FHA, VA, and Jumbo loans for specific situations

  • Flexible YOURgage loan offers fixed rates with your choice of term length

  • Reverse mortgage for retirees

Lender Features

Quicken presents a number of helpful tools. Fortunately, there are also plenty of tables and mortgage calculators to help borrowers identify the right loan. All of Quicken’s loans permit monthly, bi-weekly, and automatic loan payments to help you keep on top of your budget.

  • Fast online application process

  • Educational resources and calculators to help you make an informed choice

Quicken Loans Review

The Application Process

Quicken is proud of its speedy application process. The initial online application is simple, with guided questions showing how much more you have to go. You’ll be asked about

  • The amount you need to borrow

  • Your home value and equity

  • Your current income

  • Your mortgage status

Quicken runs a quick credit check and shows you initial quotes within just a few minutes.

Once you’ve applied, you can use the online resources to decide which loan is right for you or call one of its customer support representatives to get help in making a decision. You can customize your mortgage offer online before sending Quicken your financial documents via the secure online portal. Quicken doesn’t specify what you’ll need to send, but it will likely include:

  • Proof of income such as pay stubs and tax returns

  • Proof of identity through a copy of government-issued photo ID

  • A current mortgage statement (if refinancing)

Quicken provides real-time updates about the progress of your loan so that you’ll always know how much longer you have to wait. You’re invited to schedule the closing date of your loan online and choose when and where to close. Quicken can send you all the paperwork online, too.

Quicken Loans Review

Deep Dive into Pros and Cons

Quicken stands out thanks to the number of different home equity loan and refinancing products it has to offer. Whether you are:

  • A first-time buyer

  • Investing in property

  • Need a reverse mortgage after retirement

  • Cash-out refinancing to pay college fees or other large expenses

Quicken’s application process is fast and online and the many educational resources help everyone make an informed decision.

On the other hand, the range of loans on offer can just be confusing and bewildering. Although Quicken does offer many calculators and guides to help borrowers decide, many people will find it easier to call and speak to a representative. And, while Quicken does offer live chat as well as phone and email support, there’s no round the clock help and no single FAQ section.

Requirements and Conditions

To be eligible for a Quicken loan, you’ll need:

  • A down payment of between 1% and 20%, depending on which loan you choose

  • To be a US citizen or permanent resident

  • To be over 18

  • There is no minimum credit requirement, depending on which loan product you choose

  • You can get loans on primary, secondary, or investment properties

Quicken Loans Rates & Terms

With Quicken, you can choose between a number of 5- year or 7- year ARM mortgages, a 15- or 30- year fixed rate mortgage, or a fixed-rate mortgage with a term anywhere between 8 and 30 years. APR rates change daily, but Quicken always shows today’s rates clearly on the site. For today's rates, visit the Quicken Loans site.

Help & Support

Quicken offers customer support via phone, live chat, and email, which is refreshing, but none of those are manned 24/7. They are open longer than regular working hours, with live chat available until midnight on weekdays and 8pm on weekends, while telephone support in English and Spanish can be accessed until 10pm on weekdays and shorter hours on the weekends.

Quicken also offers a series of articles and videos to help explain the mortgage process to you. 

How Quicken Loans Compares





Min. Credit Score



620+ required

740+ recommended 

Min. Down Payment




DTI Ratio





Deposit fee: $400-$750

No hidden fees or points

Instant closing cost estimate


10, 20, 30 years

5, 7, 15, 30 years

15, 20, 25, 30 years

Suitable for

Online government loans

Many choices and convenient borrowing

Middleman-free mortgages that save you money

J.G. Wentworth's maximum rates top off a bit lower, and Magnolia Bank's top rates are lower still. All three lenders offer a variety of loan terms and low down payment requirements for some loans, giving you options with any lender you choose. 

Quicken Loans and Magnolia Bank both allow 50% or higher debt to income ratios, though keep in mind this will depend on your credit ratings overall. Budget accordingly, and carefully consider if such high debts will allow comfortable repayment on your loan. All three lenders here have entirely online platforms for your convenience and customer service needs. Quicken's APRs for conventional loans do beat out the competition, and the website is upfront about the required deposit fee. 

Quicken Loans Quicken Loans Visit Site


Overall, Quicken loans offers a lot of choice for home equity and refinancing loans with fast approval, low APR rates, and plenty of useful educational resources. The ability to choose between so many different loans, including those for specific needs, is valuable and so are the educational resources throughout the site.

Physical Address

Quicken Loans – Main Office

1050 Woodward Ave.

Detroit, MI 48226

Michael has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, pay down debt and save for retirement. Michael is passionate about personal finance, saving money, and all things geeky.

Quicken Loans customer reviews

Based on 38 reviews

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Brand satisfaction

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Top Reviews

Amrutha, GA
a year ago

Ease of use

Brand satisfaction

Value for money

Service quality

Ease of applying and speed of process and also low interest rate on the mortgage. Even the support is really good.

Ann, FL
a year ago

They have great customer service - reasonable rates that are better than competitors. Accuracy in all details of the loan. Good reputation.

a year ago

They were very helpful and easy to get in touch with and help explain the process. One bad thing is they had my phone number wrong so I missed a deadline because of it.

Robert, AK
a year ago

Very easy to do business with. No stress, and the costs are reasonable. We have been with them for years and we like the way they do business.

Norman, VA
a year ago

Very easy to work with by making the loan process the best I have ever used,

Wen, NV
a year ago

Easy to use, good customer service, and good rates. Convenient to get information online about my account.

Mickie, OH
a year ago

I have had Quicken Loans for some tie as my mortgage lender. They are professional, helpful and go out of their way to find a solution to your issue or problem

Remy, OH
9 months ago

I have them a good rating because the loan person was very prompt answered all of my questions and helped me in every way she could.

Carol, AL
a year ago

Quicken Loans does a decent job, but my instincts tell me that I'm getting ripped off somehow.

Huie, MO
a year ago

They treated me very good and like I was a human and not just a number. They also made sure that I was happy after the deal.

Jess, IN
a year ago

They were great to work with, attentive and helpful. While their interest was a little higher than others, they were the only company willing to give us a chance

a year ago

Good company but the interest rates are outrageous. That is why it is easy to get a loan through this company.

Sal, FL
a year ago

They were ok, nothing special. Processed my loan in 6 days and were very needy as to the information they wanted.

Mat, NY
a year ago

Very easy to use, it was quick and painless. Using Quicken Loans made it possible for us to but our first home.

William, CA
a year ago

They made everything hassle free. They have very knowledgeable employees who also happen to give great customer service

Chet, DE
a year ago

Quicken seems to be everywhere. They have a wide reach in all areas of the States. Competitive pricing.

Bob, ME
a year ago

Very well run company. They did hire an appraiser who didn't know this market and that has hurt my valuation and continues to drag down my ability to borrow more.

Bruce, HI
a year ago

Very user friendly website. Great mortgage rates. Customer service is excellent. Quick response time.

a year ago

Fast, accurate and reliable service every month since I refinanced my mortgage more than three years ago.

Jane, MO
a year ago

Easy to work with, very fast service, paper work was very easy to fill out, and lots of help if you need it or you just want to ask questions.

38 reviews