#Quicken loan reviews full#

Now it was time to do the РІР‚Сљreal workРІР‚Сњ of getting a loan. Speed, Efficiency, And Their Online ToolsFast forward about a week, and our offer was accepted. This high level of service encouraged me to continue to use their platform for my loan. I would say start-to-finish, it took about 30 minutes to get my information input and pre-approval letter issued. He was able to sort out all my information, run me through loan programs, validate that my self employment income would qualify by looping in an underwriter, and get me a pre-approval letter in minutes. I was a little frustrated for a minute, but in my email I had a loan officer assigned and I gave him a call right away. This saves you time if it works.One challenge I encountered was that their system did not like my self-employment income. The platform is pretty awesome - you can enter your information quickly and easily, and their tool actually allows you to connect your bank or brokerage to automatically import your account information. Quicken Loans has a program called Rocket Mortgage, which is the main platform they use for online mortgage applications. I wasnРІР‚в„ўt originally planning on actually getting a loan with them, but they had good programs with good rates, so we continued the process with them. It was great to be able to get this online. Quicken Loans was able to provide a pre-approval letter quickly, and deliver it online so we could submit our offer the same day. ThatРІР‚в„ўs why we recommend online mortgage lenders for anyone looking for a mortgage. The difference is in their underwriting process.Р”В®ven worse, many traditional banks and credit unions will take days to provide a pre-approval letter, and that wonРІР‚в„ўt work for people in highly competitive markets. For example, when we reviewed SoFi Mortgage, they would offer a pre-qualified letter, but not a pre-approval letter.

However (sadly), many places make it difficult to get a pre-approval letter. It shows that you have a strong ability to get a mortgage. In a competitive housing market, it is essential that you provide a pre-approval letter with your offer to improve the quality of your offer for your seller. I initially tried Quicken Loans because I was looking to get a mortgage pre-approval letter to submit with my offer. Look at using LendingTree to quickly compare different lenders to get the best rate and terms possible for your situation. Remember, I am a strong believer of shopping around for a mortgage. HereРІР‚в„ўs my review of Quicken Loans, why I went with them, and my experience using them. All products and services are presented without warranty. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. strives to keep its information accurate and up to date.

#Quicken loan reviews full#

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