Quicken Loans overview

Quicken Loans is the guardian of Rocket Mortgage, the closely marketed model with a web-based mortgage approval and utility software

Good for

Borrowers in search of comfort, a quick preapproval and an array of mortgage choices

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Loan varieties

1. Conventional 2. Jumbo 3. FHA 4. VA 5. Fixed-rate 6. Adjustable-rate 7. Rate-and-term, cash-out and streamline refinancing

Lender charges

Quicken Loans’ and Rocket Mortgage’s lender charges can embody an origination payment, rate-lock payment and different closing prices.

Rates

Quicken Loans and Rocket Mortgage publish charges on their respective web sites and updates them each day.

Reputation

Rocket Mortgage was ranked second by J.D. Power in mortgage origination satisfaction for 2021 and can be rated “Excellent” by Trustpilot.

Online companies

The lender gained prominence in recent times by adopting know-how that permits debtors to use for loans fully on-line by Rocket Mortgage

Minimum borrower necessities

For typical loans, key necessities embody good credit score and a minimal down cost of three %

Refinancing with Quicken Loans

with a web-based utility course of that has been touted as a hassle-free various to that of different lenders

Review methodology

Bankrate’s editorial crew charges lenders on a scale of 1 to 5 stars based mostly on quite a lot of elements referring to the lender’s services and products