Quicken Mortgage offers both fixed and adjustable-rate mortgages and refinancing loans. This could tack on an additional payment each month and wind up costing thousands extra. With Quicken Mortgages, borrowers have the option of fixed-rate mortgages, adjustable rate mortgages, Federal Housing Administration (FHA) loans, VA loans (for US veterans), and jumbo loans, depending on their needs and qualifications.Īs with most mortgages, applicants who do not pay a certain amount on their down payment may have to pay private mortgage insurance (PMI). Quicken Loans can help reduce payments with their higher debt-to-income (DTI) tolerance.īecause Quicken Loans has a range of mortgage loans available, rates vary based on the loan type and the length of the mortgage. Even those who have debt might still qualify. Rates depend on the applicant’s credit score and outstanding debts. Once you submit the form, Quicken Mortgage will get back to you with your options.Ĭompared to other lending services, Quicken Loans has fairly flexible eligibility requirements. The application asks a few basic questions such as the cost of the home, your approximate credit score, expected downpayment, and current debts. Quicken Loans has a transparent application process, and prospective borrowers can find out their rates without sharing any personal details. The website also has informative guides, articles, and blog posts to help with financial planning. Even before applying, customers can find out what to expect from their mortgage with the free mortgage calculator. With Quicken Loans, prospective borrowers can take advantage of the many online resources available on the company website. Quicken Loans puts customers first and has achieved a consistently high satisfaction rate. While many other lending services do not actually lend money themselves, Quicken Loans provides mortgage loans directly. In the lending business for over 30 years, Quicken Loans has made it possible for over 2 million Americans to purchase a home.
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