Reply
Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
0

Quicken loans

Does anyone have any experience with Quicken loans regarding an FHA mortgage? After you close what mortgage servicer do they typically sell your mortage to ?

Regular Contributor
wanttomove
Posts: 181
Registered: ‎03-25-2011
0

Re: Quicken loans

I closed with Quicken. They actually weren't my first choice, but Chase dropped the ball and we needed to close ASAP. Their fees are alittle high, but their customer service is excellent. They are even open on Saturdays so you can ask them any questions on Saturdays even if your LO isn't there because its all in their system. Also, you can upload all of your documents online and you can actually see when the underwriter either checks them off or kicks them back.

They are still our servicer and it has been a year. They never sold or transferred our mortgage to anyone else.

Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
0

Re: Quicken loans

does anyone else have any exper with them transferring their loan? Also i dont know if it matters if you have excellent credit or not

New Contributor
mlearma
Posts: 58
Registered: ‎06-02-2008
0

Re: Quicken loans

We just closed on a re-finance with Quicken.  They told us they will be the servicer of the loan and it most likely will not get sold.  We did a VA loan and they told us 640 was the minimum score, of which we were much higher thanks to myfico.com.

Their service was great although our original mortgage consultant was a bit mis-leading on the rate and buy down.  I found a few errors related to the payoff of our original loan such as them not applying the last payment, etc.

I was able to get them to cover all of our closing costs except our initial escrow deposits.  That alone was $3500.  All we had to do was ask for that and let them know that we had other options.  I was quite pleased.

Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
0

Re: Quicken loans

Do you think i can do better than a 1.75 Point buydown to get down to a 2.75 rate 15 yr fixed? with them?


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+