Rocket Mortgage

This is my third occasion to use Rocket Mortgage. All three have been stress-free with no glitches. Definitely will use them again when needed.

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

Refinanced my primary home with Quicken Loans when the government began offering HARP loans over 8 years ago. A year ago they sold the loan to another company that promptly bungled the annual escrow reconciliation and overcharged me some $200 per month for a whole year before catching their error and refunding the escrow overage.

Spring of this year, in an effort to lock in a 30-year fixed rate and take out some cash from my 14-year-old spec home, I thought I’d give Rocket Mortgage another chance. The Rocket sputtered and crashed. After paying the required $500 “appraisal fee” and applying for an 80% $70000 cash-out loan, I was informed that my house didn’t appraise high enough to qualify for this loan. At this point, my assigned loan specialist went mute. After pointing out that the out of town (and county) house appraiser seemed to go out of his way to “lowball” his estimates appraising my home $70000 lower than an identical house just one street over, I was assigned a supposed loan specialist to reach a solution. The Rocket's solution was to keep all of the $500 application fee, and deny my access to the documents and appraisal which I paid for.

Fast forward two months, I received the exact same loan through LOAN DEPOT, not only was it easier (less paperwork required and fast turnaround) but their appraiser, a local company, appraised my property at $50000 higher than the Rocket. After another week of battle with yet another Rocket customer care agent, I was grudgingly refunded less than half of my $500 (the actual cost of the appraisal). I was also promised a hard copy of Rockets appraiser comps which they are supposedly required to do by law. You guessed it, I never received them. My only solace is knowing I prevented a friend of mine from making the same mistake of using Quicken Loans.

Length of Use: 2+ years

Bottom Line: No, I would not recommend this to a friend

Rocket Mortgage wanted $19,000 to refinance a home with a credit score of 796, and my wife's credit score of 798. We got refinanced for $5,500 in total costs from another company. They lied to us over and over. They said they couldn't find my info on the application, I called and they found it. This is my personal experience. They were as rude as a company can be. They said they didn't care if I put in honest reviews, which I DID!

Bottom Line: No, I would not recommend this to a friend

The whole experience was quick and based on questions Adam asked, he was really looking out for us, our best interest. We were able to go from 4.375% down to 2.5% and taking 6 YEARS off our mortgage! Yay!

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

I had refinanced my home with another lender to save money. I quickly discovered this was a huge mistake. I ended up paying $600 more per month with almost all of my monthly payment going towards interest. Quicken got me out of that loan at an incredibly low interest rate. I'm now saving money each month and actually paying down my home loan. Thank you Quicken!

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

The first part of the process was great, very quick, and great customer service. However, there was a long lag time during the underwriting period, almost six weeks, when I thought they had forgotten all about me.

Length of Use: 3–6 months

Bottom Line: Yes, I would recommend this to a friend

Most homebuyers talk about the agony of the home buying process. I felt like with Rocket Mortgage the process was a very smooth transition in becoming a first-time homeowner. The process is streamlined that you upload your documents from the to-do list. Communication is key and Rocket Mortgage exceeded in the Communication department. I was not left wondering what the next step was. I would use Rocket Mortgage again and recommend it to anyone looking to purchase a home. Thank you Rocket Mortgage.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

Overall, we got what we needed. A refinance with a lower rate. However, we took time off work to do the closing. But the notary never showed. I asked for a bit off the closing to cover missed work since we had to take more time off to do it again, but I was refused. Then we rescheduled and I got a call from 2 notaries that were scheduled. A lot of back and forth to figure out who we were supposed to see. I filled out the banking info for the closing costs to be taken out of my account, but that didn't happen. So I was then sent wiring info to wire the funds. More time off work, and the bank charged me money to wire the funds. Money I wouldn't have had to pay if it was done right the first time. Frustrating, but again, we got it done.

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

I am on day 143 of my loan. The loan is for $260,000 and it appraises for $550,000.

Everything has been done including the survey, and now after 140+ days, I am being told that they need more documents. I have been approved 3 times, then they say oh wait, we need this and this.

This is not my first rodeo, I have refinanced before, but Quicken Loans keeps stalling hoping to find something they can change or cancel the loan. They do not do what they say and as far as I am concerned, they are using false advertisement. I think they just bring on new clients to be able to look good for their investors.

By the way, my credit score was 800+ when this all started.

Length of Use: 3–6 months

Bottom Line: No, I would not recommend this to a friend

The agents were unresponsive and not forthcoming with clear and honest information. Have had a lot of issues with escrow which are still pending over several weeks.

Length of Use: 1–2 years

Bottom Line: No, I would not recommend this to a friend

It was very good. Jon made everything very easy for us. Whenever we had a question, Jon had the answer. The other thing I really liked was how quick they were at getting it done.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend