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Quicken Loans mortgage review’s rating: 3.4 / 5.0


Get a competitive rate from a highly reviewed mortgage lender, but be prepared for a larger application deposit than other lenders.

As the largest online mortgage provider in the US, Quicken Loans offers a wide range of mortgage options. Past customers rave about the lender’s friendly, informative mortgage experts, but the large application deposit may keep some borrowers from applying.


Loan products offeredConventional, Jumbo, FHA, VA, Refinance
Minimum credit scoreConventional: 620
FHA: 580
VA: 620
Minimum down payment (Conventional)3%
State availabilityAvailable in all states
NMLS #3030

Our take on Quicken Loans mortgages

Quicken Loans is the largest mortgage lender in the US for a reason. Its streamlined online application with quality help along the way can help even borrowers with complex mortgage needs navigate the process. Quicken Loans can also offer a quick closing process to those in more competitive markets or who need to get into their new home right away.

But you should only apply when you’re ready, because this lender charges a large application deposit and requires a hard credit pull, which could lower your credit score.

Quicken Loans Requirements

To be eligible for a home loan with Quicken Loans, you’ll need a personal credit score of at least 580 for FHA loans, 620 for conventional and VA loans and 700 for jumbo loans.

You’ll also need a down payment of at least 3% for conventional loans and a deposit between $400 and $700 to cover the good faith deposit.


Be prepared to supply:

  • Your Social Security number
  • Pay stubs from the past 30 days
  • W2s and 1099s from the past two years
  • Personal tax returns from the past two years
  • Profit and loss statements if self-employed
  • A list of your assets, including savings, real estate, car titles and other investment records
  • A complete list of your debts, including student loans, auto loans, personal loans and credit cards

Costs and fees

Quicken Loans charges a one-time “good faith deposit” on its home loans to cover your credit report, home appraisal and underwriting costs. The exact amount of your good faith deposit is disclosed in your deposit agreement and is due at closing.

If you decide not to go ahead with your Quicken Loans mortgage, you may get a full refund, minus any costs Quicken Loans has incurred in the process of working on your loan.

How to apply for a mortgage with Quicken Loans

Regardless of how you start your application, you’ll eventually need to apply through a loan officer. You can start your application on the phone or through live chat, or you can follow the steps below to start your application online:

  1. From the Quicken Loans website, choose Apply Now.
  2. Step through questions about the home and loan you’re looking for
  3. Answer questions about the home you want to buy and your down payment.
  4. Enter information about your financial situation and your contact details. Select Click to see your results.
  5. Your customized rates display, if available, and a loan officer will contact you shortly. If you decide not to wait, you can call 800-251-9080.

What types of mortgages can I get through Quicken Loans?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Other mortgage products offered by Quicken Loans

Quicken offers the following additional mortgage products:

  • Refinance. Switch your current mortgage over to Quicken Loans to get a new interest rate, lower payments or a shorter loan term.
  • YOURgage. This fixed-rate loan offers terms of eight to 29 years for more control over your repayment term. Qualifying homeowners can get a YOURgage with as little as 3% down.

How Quicken Loans’ mortgage products compare to other lenders

Quicken Loans mortgage offerings are pretty standard, with all the conventional and government-backed options you’d expect to see from a mortgage lender. But Quicken Loans is not a bank, which means it doesn’t offer home equity lines of credit (HELOCs) or loans, forcing you to consider a full refinance to access your home’s equity.

Quicken does offer a unique program, YOURgage, that allows you to choose the term of your fixed-rate loan from eight to 29 years.

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
(NMLS #1429243)
Conventional, Jumbo, Refinance
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.
(NMLS #1136)
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
Connect with vetted home loan lenders quickly through this online marketplace.

Compare up to 4 providers

Ready to compare lenders?
View mortgage, refinance and home equity rates from multiple lenders and apply online.

Need help? Talk to a customer specialist


Quicken Loans reviews and complaints

Quicken Loans is accredited with the Better Business Bureau (BBB) and as of July 2021 has 3.25 stars out of 5 based on 1,776 customer reviews. On Trustpilot, the lender has 4.4 out of 5 stars with 18,144 customer reviews. Most reviews praise the attentive, personalized service they receive from its mortgage officers. Even when dealing with multiple representatives, borrowers report a keen attention to detail. Borrowers also liked using Quicken Loan’s MyQL to track the progress of their loan.

However, some complaints point to hard credit inquiries without authorization during the application process. There are also reports that loan advisors were aggressive when trying to close the loan.

Pros and cons of Quicken Loans


  • Large jumbo loans available. Find nonconforming jumbo loans up to $2 million in fixed- or adjustable-rate terms.
  • Flexible repayments. Pay off your loan early without prepayment penalties.
  • Online loan support. Monitor the progress of your application with MyQL and access the support seven days a week by phone and live chat.
  • Fast turnaround. Most borrowers close their home loans with Quicken Loans within 30 days.
  • Award-winning customer service. This lender has won awards for being highest in customer satisfaction from J.D. Power for the last 11 years.


  • Application deposit. You’ll need to put down a deposit to apply, and the deposit goes towards closing costs if you seal the deal on your new home loan.
  • Two-step process. Unlike fully online mortgage lenders, you have to speak with a representative to get your loan details completed.
  • Hard credit pulls. Some homebuyers were surprised to see a credit check show up on their credit report before they expected it or gave authorization.

What is Quicken Loans?

Based in Detroit, Quicken Loans is the country’s largest mortgage lender. The company opened in 1985 under the name Rock Financial and has since grown steadily, even when other lenders were faltering in 2008 and 2009, because Quicken Loans refused to offer subprime loans.

But in June 2019, Quicken Loans was ordered by a judge to pay a settlement of $32.5 million over allegations from the federal government that the lender knowingly submitted hundreds of FHA loans that were improperly underwritten. Quicken Loans agreed to pay the settlement but continues to assert that the company did nothing wrong.

In August of 2020, parent company Rocket Companies debuted as a publicly traded company on the New York Stock Exchange.

How is Quicken Loans related to Rocket Mortgage?

Quicken Loans owns Rocket Mortgage, a site designed to appeal to a new generation that’s comfortable with end-to-end transactions online — including applying, vetting, submitting documentation and funding.

If you’re a first-time homebuyer or have a similarly uncomplicated purchase in the works, you might be able to streamline the process with Rocket Mortgage.

Historical mortgage data for Quicken Loans

All numbers based on 2019 nationwide data from the Home Mortgage Disclosure Act.

Loan typeApplications deniedLoans originated$ Amount (originated loans)
USDA (no longer offered in 2020)7782,289$304,025,000

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