Quicken Loans: Pros and Cons
Generally speaking, there are three main areas where Quicken excels: variety of mortgage products, customer satisfaction, and online service. Quicken is also first in the country in mortgage originations by volume, according to the Mortgage Bankers Association (MBA). Quicken’s wide variety of loan products include conventional fixed-rate mortgages, government-backed VA, FHA, and USDA loans, and refinancing. In terms of customer sentiment, J.D. Power has ranked Quicken highest in mortgage origination satisfaction for 10 consecutive years. Finally, Quicken’s simple mortgage application process can be completed with any of their representatives over the phone or through its Rocket Mortgage online service.
Quicken will fall short for potential borrowers who prefer face-to-face interactions. The company does not have physical branches, so customers will need to complete mortgage processes online or over the phone. Further, although Quicken Loans does offer