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Pros / Quicken Loans has a program where it pays private mortgage insurance for people who have less than a 20 percent down payment.

Cons / This lender does not offer construction loans or home equity financing.

 Verdict / Quicken Loans offers conventional and government-program mortgages and refinancing options for loans from eight to 30 years. Its rates vary greatly by loan situation, so it's best to call a loan officer, but its willingness to work with higher debt-to-income ratios and special programs make it an excellent choice.

Editor’s Note: This product has been removed from our side-by-side comparison because it has been replaced by another product. You can still read our original review below, but Top Ten Reviews is no longer updating this product’s information. For up-to-date recommendations, visit our Best Refinance Companies page.

Quicken Loans offers flexible programs designed to help you get a home loan that meets your financial needs. Its rates and fees are highly dependent on the loan situation, so it's best to contact a loan agent for the most accurate interest rates. The rates we found for Quicken Loans compare well with Network Capital and CitiMortgage.

We found an interesting disparity between the posted interest rates from Quicken Loans and those we were given over the phone. Your best bet is to call and get a quote for your particular situation. The rates with any mortgage or refinancing lender will vary depending on your situation, including your credit score.

If you have less than 20 percent saved for a down payment, which is what mortgage lenders in the industry typically prefer, and you do not qualify for a special program such as a VA loan, you will have to pay private mortgage insurance (PMI). PMI adds thousands of dollars over the life of the loan. Quicken Loans offers a program that pays the PMI for you in exchange for a slightly higher interest rate.

We had variable luck with the online chat. The first person we spoke to, an "executive purchase banker," was patronizing and more focused on convincing us to apply than on answering our questions. The second person we chatted with, a purchase banker, was polite and willing to answer questions, even some tricky ones. The company responded to our email questions with a compliment on the quality of the questions and a suggestion we contact a loan specialist.

The loan officers we spoke to on the phone were generally helpful. We were able to get a quote on interest rates for our test case loan situation.

If you contact this company, be prepared to be on its mailing and calling lists. We have received newsletters and phone calls, sometimes from multiple agents in the same day. Once we asked to be removed from the list, the calls stopped.

Nonetheless, this mortgage lender has very high customer service rankings from people who have secured loans from them, according to a reputable customer-satisfaction ranking company. You can find testimonials on its website. In the past, customer complaints posted online were met with quick responses by the company offering to research and resolve the situation.

Quicken Loans offers mortgage and refinancing loans at fixed and adjustable rates, but not home-equity financing. It can work with the common government programs like FHA and VA loans.


If your debt is higher than average and you want to purchase a home or are looking for a refinance home loan, Quicken Loans may be a good bet for securing a home loan. In addition to having a higher DTI tolerance than most mortgage lenders, it has multiple programs to help reduce payments. It does not offer construction loans but can do jumbo loans for up to $3 million. It's definitely worth considering as you price out home loans.