Quicken Loans Review

ByNadav ShemerOct. 11, 2020

This site is a free online resource that strives to offer helpful content and comparison features to its visitors. Please be advised that the operator of this site accepts advertising compensation from companies that appear on the site, and such compensation impacts the location and order in which the companies (and/or their products) are presented, and in some cases may also impact the rating that is assigned to them. To the extent that ratings appear on this site, such rating is determined by our subjective opinion and based on a methodology that aggregates our analysis of brand market share and reputation, each brand's conversion rates, compensation paid to us and general consumer interest. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

In a Nutshell

Quicken Loans is America’s largest mortgage lender, having closed nearly $145 billion in mortgages in 2019. According to Quicken, 98% of all home loans originated go through its Rocket Mortgage digital platform. With Rocket Mortgage by Quicken Loans, you can start your mortgage application and lock in a rate just by answering a few basic questions about your goals.


  • Wide range of loan options
  • ‘YOURgage’ program with flexible loan terms
  • Quick, streamlined digital application


  • Not necessarily the lowest rates
  • Lack of attention you otherwise get with small lenders
  • No home equity loans

Quicken Loans at a Glance 

Direct lender or marketplace?


Loan types: Purchase, refinance
Featured Loan:     Conventional, jumbo, FHA, VA
Repayment terms: 

8-30 years, 5/1 or 7/1 ARM

Minimum Down Payment: 3% for conventional
Minimum Credit Score:     620+ for most loans
Best for:  Flexible borrowing options and repayment terms


Quicken offers a very wide selection of loans for purchase or refinance. These include conventional, FHA and VA loans, as well as its unique YOURgage flexible loan option (more on that below). It has loans to suit all kinds of specific situations, such as low credit, low-equity refinancing, and very large loan amounts. With such a wide range of loan options, it can be difficult to find the best loan for your needs. However, Quicken has it all sorted out: its cutting-edge Rocket Mortgage technology helps guide you to the best loan product and complete the loan approval process quickly. 

Best For?

Given the wide range of loan options, it’s fair to say Quicken Loans is suitable for a wide range of borrowers. In particular, it’s great for anyone wanting to customize their loan. That’s thanks to the YOURgage loan program, which lets you choose a loan term from 8-29 years, giving you full control over the size of your monthly payments. 

Types of Loans/Products

Quicken offers a range of conventional and government-backed loans. With many of these loan types, it offers a choice between fixed or adjustable rates and traditional (15-30-year) or flexible (8-29-year) repayment terms. Quicken offers loans on primary, secondary, and investment properties.

Here’s the full breakdown of purchase options:

  • Conforming loans, with minimum 20% down payment without private mortgage insurance or minimum 3% down payment with PMI.

  • Jumbo loan, with loan amounts as high as $3 million.

  • FHA and VA loans according to the usual rules.

  • YOURgage program, with flexible repayment terms and fixed rate.

  • And here are the refinance options:
  • Conventional refinance Cash-out refinance
  • FHA streamline refinance
  • HARP refinance, as part of government’s HARP program for in-distress mortgage holders

The Application Process

Quicken is proud of its proprietary application process, and rightly so, given how simple and quick it is to use. While traditional lenders hit you with one application all at once, Quicken breaks the process down into bite-sized steps, making it easier to find the loan you need.

Here are the steps:

1. Short application form, with basic questions about things like your loan amount, current income, and home value/equity (if refinancing).

2. Quicken runs a quick soft credit check and shows you a bunch of loan options with pre-qualified rates. 

3. Next comes time to decide which loan you want. Each option is accompanied by a detailed explanation to help you figure out which loan works for you. You can also customize your mortgage offer using the YOURgage tool.

4. The final step to a formal application is to upload all your financial documents via the secure online portal. At the very least, Quicken will ask for proof of income, proof of identity, and a current mortgage statement (if refinancing).

5. Quicken provides real-time updates about the progress of your loan so that you’ll always know how much longer you have to wait. It will invite you 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.

Rates and Terms

With Quicken, you can choose between a 15-year or 30-year fixed rate mortgage, 5/1 or 7/1 ARM mortgages, or a fixed-rate mortgage with a term anywhere from 8-30 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.


Overall, Quicken Loans offers a lot of choice for purchase and refinancing loans with fast approval, competitive APR rates, and plenty of useful educational resources. The ability to get online and quickly choose between so many different loans, including those for specific needs, is where Quicken really shines.


What’s the difference between Quicken Loans and Rocket Mortgage? Quicken Loans is the name of the lender. Rocket Mortgage is Quicken’s digital lending platform, providing a fast, secure, and 100% online way to apply for a mortgage.

How does Quicken shorten the application process? When you apply, you upload all the documents you have at your disposal via Quicken’s secure system. Quicken will reach out to third parties like your employer and insurance agent for the rest. 

Does Quicken take loans offline? If you wish to apply offline, you can fill out the initial application form on the Quicken website and ask for a home loan expert to call you to complete the process. You can also call Quicken directly to speak to a loan agent.

Physical Address

Quicken Loans – Main Office

1050 Woodward Ave.

Detroit, MI 48226

Quicken Loans Quicken Loans Visit Quicken Loans

Quicken Loans customer testimonials

ExcellentReviews 16,588
TrustPilot is the world’s most powerful review platform, free and open to all.
  • author
    Rick Niemeyer
    2 hours ago
    I already filled this out several days…

    I already filled this out several days ago.


  • author
    3 hours ago
    The advisor hung up on me

    I just wanted to know the current interest rates but the website wont let you see it until you enter your phone number and email so i gave it to see the information. The next day i get a call from a person who connected me with an advisor, who tried to push me and told me that he will need to check my credit report to give a rate. I respectfully declined since I was still not ready and wasn’t sure if i should refinance. As I was communicating this the mortgage advisor just hung up on me. Who does that? I was courteous enough to answer the call and talk. May be next time i shouldn’t. Even if these guys offer a much better rate, there is no way i will go through them. There are other lenders out there who can give me a rate without pulling my report.


  • author
    6 hours ago
    Ryan South from Quicken Loans was…

    Ryan South from Quicken Loans was fantastic!!! He made this happen for us! He was there for us every step of the way and provided all the answers and concerns for us. Thank you Ryan!!!


  • author
    7 hours ago
    Shelly Blanding was awesome

    Shelly Blanding was awesome. Our stuff was done, fast, efficient and professionally. No work for us other than some signatures and providing employment! Great service!


  • author
    9 hours ago
    Everything was made easy with the…

    Everything was made easy with the electronic document signing. My main contact Noah Boivin was helpful with all questions I had. The only negative in my experience, was that my loan was in under writing for a long period of time, it took almost 90 days to close.


Quicken Loans