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Quicken Loans vs. Bank of America mortgages

We compare home loan programs, fees and requirements and see how these two big-name lenders stack up.

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By

Britny Lawhorn

Updated

Fact checked

How do Quicken Loans and Bank of America compare?

Quicken Loans logo
Bank of America logo
  • Consider this lender if you’re after a quick closing.
  • Choose another lender if you want a HELOC.
  • Consider Bank of America if you value its nationwide footprint and like the idea of having your mortgage and banking under one roof.
  • Choose something else if reputation and customer experience is your top priority.

Read review Go to Quicken Loans site

Read review

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • Large jumbo loans available
  • Flexible repayments
  • Online loan support
  • Fast turnaround
  • Accessibility
  • Low interest rates
  • Alternative credit data
  • Discounts for existing clients

Cons

  • Application deposit
  • Two-step process
  • Hard credit pulls
  • High volume of consumer complaints
  • Limited coverage in the Midwest
  • History of irresponsible mortgage lending
  • Less personalized approach

Customer reviews

Quicken Loans is accredited with the Better Business Bureau (BBB) and as of November 2020 has 3.67 stars out of 5 based on 1,930 customer reviews. On Trustpilot, the lender has 4.4 out of 5 stars with 16,814 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 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.
Bank of America has been accredited with the Better Business Bureau (BBB) since 1949, boasting an A+ rating for its operations after closing over 6,000 customer complaints over the last three years. However, it falls short in the customer service department, earning slightly over a one-star rating from 475 customer reviews. It’s a similar story on Trustpilot, where the bank has a 1.3 rating based on 844 reviews as of August 2021. While customers praised the savvy online experience and diversity of mortgage products, many were frustrated with the service they received. It’s worth noting that these consumer reviews are for Bank of America as a whole — and not for its mortgages specifically.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Disclaimer: The partners on Finder's mortgage comparison tables are sorted in alphabetical order.

1 - 4 of 4
Updated regularly
Name Product Loan products offered State availability Min. credit score ‎
Figure
Not rated yet
Figure
HELOC
Not available in: DE, HI, KY, NY, TX, WV
640
See rates
More Info
Speedy prequalification, minimal fees and a wide range of loans and terms with this HELOC lender.
Quicken Loans
Finder Rating: 4.34 / 5: ★★★★★
Quicken Loans
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
See rates
More Info
Streamline your mortgage from quote to final payment — all from your computer or phone.
Rocket Mortgage
Not rated yet
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
See rates
(888) 329-4989
Apply online for free and lock in your rate for 90 days.
Veterans United
Not rated yet
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
See rates
More Info
Veterans United stands out from other lenders for its focus on serving the military community.
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