Quicken Loans Mortgage Review

Andrew Reyes
A person working on their computer while holding their phone.

Quicken Loans was established in 1985 and offered in-person lending solutions to homebuyers and owners throughout the country. The company changed its business model in 2000 to lean more on a convenient online platform.

Now, borrowers can call Quicken Loans to apply for a new mortgage or begin the mortgage application online. Customers can also learn about home loan refinancing options through Quicken Loans and browse a variety of loan products available through the company.

Table of Contents

What Is Quicken Loans and How Does It Work?

Quicken Loans is a private lender that allows potential borrowers to get pre-approved for a mortgage online or by phone. If you’re thinking about applying for a mortgage, you can use the company’s website or smartphone app to provide your financial information and details on the home you’re looking to buy.

Quicken Loans analyzes the information you provide to identify the types of loans you qualify for. The company provides you with different loan options and you can choose the one that’s best for you. Call a representative to complete the application process or upload information as needed and sign your loan documents electronically.

Once you’ve completed the mortgage application or refinancing process, Quicken Loans is likely to also service your loan throughout its term. You can log into your account to view your loan balance, ask a representative for help, and make your monthly mortgage payment.

Quicken Loans Features

Quicken Loans offers several features that make the mortgage application and servicing process easy.

Customer Service

While Quicken Loans emphasizes the convenience of shopping for a mortgage or refinancing your home loan online, the company also provides access to lenders by phone.

You can call and speak with a representative for assistance, no matter where you are in the process. The representative you begin the application with is the same one you’ll speak to throughout the process.


When you apply for a mortgage through Quicken Loans, you’re provided with a breakdown of the costs of buying a home, including closing costs and origination fees. The lender generally charges a 0.5% to 1% origination fee, depending on your finances and the type of mortgage you qualify for.

Mobile App        

Quicken Loans offers several services within its smartphone app through Rocket Mortgage. Download the Rocket Mortgage mobile app for iOS or Android operating systems to keep track of your home loan status from your smartphone.

After you’ve signed up for an account with Quicken Loans, you can sign into the app from your mobile device to receive loan updates and chat with a representative. After you’ve closed on your mortgage, you can also use the app to make payments or check your loan balance.

Online Service

With Quicken Loans, you’re able to begin the mortgage application process online. Provide your information as requested and create an account to check on your loan status. You can also use the online service to chat with a representative or upload loan documents. To complete your mortgage application, you must speak with a representative on the phone.


After you apply for a loan with Quicken Loans and speak with a representative, you may receive a prequalification letter. This helps you determine how large of a mortgage you can afford and the types of loans you’re likely to qualify for.

A prequalification is different from a pre-approval because it only shows that you’ve been pre-screened for a home loan but not yet approved. You may receive prequalification without the lender checking your debt-to-income ratio or credit score. However, with this letter in hand, you’re likely to be taken more seriously by a real estate agent or seller since they know you’re already working with a lender.


If current interest rates seem lower now than when you bought your home, you may wonder whether you should refinance your mortgage. Quicken Loans offers many refinancing options and you can begin the process online.

When you begin the process, you must provide your personal information and determine your refinancing goal, such as pulling equity out to pay for home improvements or lowering your monthly mortgage payment.

Quicken Loans Rates

If you’re curious about current interest rates, visit the Quicken Loans website to review the rates associated with specific loan terms. The interest rate that applies to your situation depends on the type of loan you qualify for and other financial factors. You can use the Quicken Loans refinancing or mortgage loan application calculator to determine your monthly mortgage payment with different interest rates.

How to Apply for a Quicken Loan

Begin the mortgage application process online, through the Rocket Mortgage app, or by calling a home loan expert at 1-800-769-6133. To apply for a home loan online with Quicken, follow these steps:

  1. Visit the Quicken Loans website.
  2. Select “Home Refinance” or “Home Purchase.”
  3. Describe your home.
  4. Provide your information.
  5. Create an account with Quicken Loans.
  6. Contact a mortgage representative to complete the process.

A mortgage representative will run your credit and request documents to prove your income, assets, and other financial information. You may be offered different loan options that provide various terms, down-payment requirements, and loan amounts.

Choose the mortgage that works best for your financial situation. Once you close on your home, you can manage your mortgage through the Quicken Loans website or app.

Avoiding “Quicken Loans” Scams

Online scammers may pose as Quicken Loans to steal your personal and financial information. If you’re the victim of one of these scams, you could have your identity stolen, as well as your bank account numbers and other personal information.

Before providing information, be sure you’re at the correct Quicken Loans web address. Don’t offer personal information through email and insist that every caller identifies themselves before you answer sensitive questions by phone. If you’re not comfortable providing your information online, call a home loan representative to begin the application process.

Quicken Loans offers several convenient ways to apply for a mortgage or refinance your existing home loan. Whether you apply online, by phone, or through the app, it’s important to review the terms of your home loan offer carefully before signing the loan documents.

Learn more about Quicken Loans and find out if they’re right for you today.

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