Quicken Loans is another popular mortgage lender on the web. They use the patented Rocket Mortgage online application process. Is it really all that it’s cracked up to be? This in-depth review of Quicken Loans will give you a better idea or who they are and what they have to offer.
Customer Service: 800 number and online chat options
What we like about it:
- Great way to research your mortgage options with easy to read charts
- Stay up to date on mortgage rates
- 90-day interest rate locked in
- Chat with a real home loan expert to answer all your questions
- Different types of home loans available
- Deal with Quicken Loans directly for the duration of your loans
Because Quicken Loans specialize in mortgage loans, they can offer great options. They have a variety of different types of loans that they offer. Check them out:
Home Purchase Loans
If you are looking to buy a home, whether its your first home or you’ve owned before, Quicken Loans will give you the best mortgage options out there. After filling out a few easy questions, Quicken Loans will give you different loan options with the pros and cons laid out for you.
The different loans they will offer include adjustable rate loans, 30 and 15 year fixed loans, FHA, VA, and USDA loans, and more. If you aren’t sure which is the best for you, they have a chart explaining the different types of loans and which one would be best for you based on the qualification process, loan flexibility, rate security, and low down payment.↑
HARP Refinance Substitute Options
Quicken Loans was there to help home owners refinance while the government was offering the HARP refinance options for those who owed more money on their home then how much it was worth.
This was due to the real estate crash in the late 2000s. The government is no longer offering this help but unfortunately there are still some homeowners that have found themselves still in that predicament. Quicken Loans can help these homeowners find options to refinance if they are underwater.
They can offer restructured loans, short sales, and more.↑
This option is for homeowners who owe less than the value of their home and need cash. These homeowners have to be 62 or older to qualify.↑
Ease of Use
Quicken Loans makes it very easy to get a mortgage loan. They have easy to fill out questionnaires that will speed up the approval process. All information can be filled out online in the comfort of your own home.
They even make it possible to fill out many of the other paperwork, such as the closing paperwork, through their online portal. If you are in the middle of the loan process and you would like to see how things are going, they can give you email or text updates letting you know at which stage the loan process is in.
This can greatly lessen the stress level during the purchase of your home.↑
Price and Tools
The price to use Quicken Loans as your mortgage lender depends on many different things but is typically between $400 and $750 dollars. This covers the cost of pulling your credit report, processing your application, getting the right documentation and more. This money is considered a good faith deposit and is applied to your closing costs when you close your loan.
This means that if you end up staying with Quicken Loans as your mortgage lender throughout the entire loan process, you aren’t paying any fees, its just being rolled over to your closing fees, which would have to be paid anyway.
Quicken Loans have quite a few different calculators available for you to use so that you know what kind of numbers you have to work with. These calculators include a mortgage calculator, affordability calculator, refinance calculator, and amortization calculator. This last calculator is actually pretty helpful to see how much money you can save by paying more than your minimum monthly payment.↑
Should I consider Embrace?
Embrace Pet Insurance is an incredible option. They’ve got a team committed to helping you choose a personalized pet policy plan, claims reimbursement, and wellness. Unlike other pet insurance providers, Embrace offers a wellness rewards program that will give you points for covering the cost of everyday pet expenses like grooming and training. That’s a great perk for pet parents who really go the extra mile. The customer portal, “My Embrace” is also a step above the rest. You can review details of your policy, file a claim, access your pet’s health records, and get any questions you have answered all from the online portal. It’s a great tool that will allow you to stay on top of it all. Embrace is a great pet insurance provider and you should get a free quote from them to see if they’ll be a good fit for you and your pet’s needs.