The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site. Advertising Disclosure

Quicken Loans logo View Rates Top

Quicken Loans Review

Quicken Loans, one of the nation's largest lenders, provides a simple way to secure home loans online with great rates and flexible terms, thanks to a simple application process and expert guidance from start to finish. The lender now operates under Rocket Mortgage, which fulfills all Quicken Loan services through its popular, easy-to-use online platform.

Who is Quicken Loans Best For?

Quicken Loans is a great choice for a hassle-free, quick online loan application, with sufficient digital tools to guide you through the process.

Visit Lender Site ➜

Quicken Loans, NMLS ID #167283

Pros

  • Simplified and expedited online application process
  • Expert phone support available
  • A+ Better Business Bureau rating

Cons

  • No face-to-face support or physical locations
  • No home equity lines of credit

What Loans Does Quicken Loans Offer?

Quicken Loans offers conventional loans fixed-rate loans and adjustable-rate loans with 8- to 10-year terms and down payments as low as 1%. Loan services include:

  • Purchase loans
  • FHA loans
  • VA loans
  • Home equity loans
  • Fixed-rate loans
  • Adjustable-rate loans
  • Jumbo loans
  • Refinance loans

How Does Quicken Loans work?

Quicken Loans allows you to adjust down payment amounts and payment frequency to customize loan terms until you’re pleased. You should aim to have a credit score above 600, and a debt-to-income ratio of less than 30-45% for mortgage loan approval. It's important to note that a certain credit score or debt-to-income ratio does not always guarantee or prevent loan approval.

Click here to view the latest Quicken Loans mortgage rates.

The Bottom Line

Easy-to-use services and a speedy process have made Quicken Loans a popular online mortgage lender. For a quick application, start-to-finish online loans, and flexible terms, check out Quicken Loans mortgage services today:

Learn More ➜

Quicken Loans, NMLS ID #167283

Not ready to commit? Find more mortgage lenders with good loan variety, competitive rates, and great support resources available. View 2026 mortgage lender comparisons here.

How We Rank

Learn more about how findmortgages.com rankings are determined.

Lender Reviews

Rocket Mortgage

Rocket Mortgage

Learn More
New American Funding

New American Funding

Learn More
Quicken Loans

Quicken Loans

Learn More

Recommended Reads

Prequalification vs. Preapproval

Read More

How is My Rate Calculated?

Read More

Guide for First-Time Homeowners

Read More

Frequently Asked Questions (FAQ)

A mortgage loan is used to purchase a home or real estate property. It involves an agreement where the borrower repays the loan over a set term, typically 15 to 30 years. The loan is secured by the property, which means the lender holds it as collateral until the mortgage is fully paid off. The borrower repays the loan through monthly payments, which include both principal (the loan amount) and interest.
Securing a mortgage loan typically takes between 30 to 45 days from start to finish. The process includes pre-approval, application submission, underwriting, appraisal, and closing. If you need to secure a mortgage loan as fast as possible, online lenders are a great option. Online lenders can process and approve loans in as little as 15 to 30 days, thanks to streamlined digital applications and quicker approval processes.
Your credit score plays a key role in determining both your mortgage eligibility and the interest rate you'll receive, accounting for roughly 34% to 40% of the decision-making process. Generally, higher credit scores result in more favorable terms and lower interest rates. If your credit score is on the lower side (around 620 or less), there are still plenty of options available. Many online lenders offer more flexible credit requirements, and applying with a co-signer who has a strong credit score can also improve your chances of securing better loan terms.
To improve your chances of getting approved for a mortgage loan, focus on raising your credit score by making timely payments and reducing any unpaid balances on your card(s). Lenders also prefer a lower debt-to-income (DTI) ratio, typically below 43%, as it shows financial stability. Saving for a larger down payment and maintaining stable employment can further strengthen your application. To speed up the approval process, ensure that all documents you submit are accurate and up to date.
To secure the lowest mortgage rates, it's important to maintain a high credit score and keep your debt-to-income (DTI) ratio low, as these factors demonstrate financial responsibility to lenders. Lenders also assess your income, employment history, and the size of your down payment when determining your eligibility. If your financial profile is lacking in one or more areas, applying with a co-signer who will share responsibility for the loan can help boost your chances of approval and possibly lead to better terms.
Pre-approval is a process where you self-report your financial details, such as income and debt, to get an estimate of how much you might qualify for without a hard credit check. It provides a personalized loan estimate and potential interest rate, helping you compare offers from different lenders and determine what you can afford. Pre-approval is a great first step before fully applying for a mortgage, as it allows you to shop around and better understand your options without impacting your credit score.
When applying for a mortgage loan, lenders will use the following documents to assess your financial health and determine your eligibility for a mortgage loan: PROOF OF INCOME (pay stubs, tax returns W-2s or 1099s) • EMPLOYMENT VERIFICATION (a letter or workplace contact) • BANK STATEMENTS (savings and/or checking account balances and other assets) • CREDIT INFORMATION (lender will conduct a credit report check) • DEBT INFORMATION (current debts and/or other outstanding loans) • PROOF OF IDENTITY (driver's license or passport and your Social Security number).
Start by researching online and reading reviews to check the lender's reputation. Then, shop around by getting preapproved with multiple lenders to compare rates. (Preapproval should not impact your credit score, it's simply a preliminary loan and rate estimate). Don't hesitate to ask questions about the loan process and fees. Local real estate agents can also provide recommendations based on their personal experience with mortgage lenders.
If you're facing challenges with your mortgage payments, there are options to explore. Many homeowners refinance their mortgage to modify their loan terms or secure a lower rate if the market has changed (though there's typically a 6 month waiting period from after you close to when you can refinance). Additionally, you can contact your lender to discuss assistance programs like forbearance and loan modification.
You should consider refinancing your mortgage when it can help you achieve a financial goal, such as lowering your monthly payments, reducing your interest rate, switching from an adjustable-rate to a fixed-rate loan, or accessing your home’s equity. It's generally worth considering refinancing if current interest rates are significantly lower than your existing rate (around 0.5% to 1% or more) or if your credit score or financial situation has improved since you took out the loan. You should always factor in the closing costs associated with refinancing before signing any paperwork to ensure it’s a cost-effective move.