Any experience with Quicken Loans?

The wife and I have decided to refinance the house, instead of buying new, so I'm beginning to look at options.

Currently the house has an FHA loan in only my name, now that we are married, we will refinance the house in both of our names. We are going to refinance to a 15, or possibly even a 10 year note on the house.

For no real reason other than they advertise on TV, I 've been skeptical of them. But the no appraisal, low doc refinance seems like it would be great.

Not that we need it, we both have 750+ credit scores and good debt-to-income ratios.

I know once I give them my info, I will be mercilessly hounded. So they are worth working with, or should I stay local and deal with the apprasial process (and the possibility of getting screwed again).........any other suggestions?

I refinanced my house a few month ago. I looked at the no cost options, but the higher rate of those was offset in only a couple of years. I figured the rates were not going enogh lower that another refi was possible. when we did it the rates were enough lower on a 7/1 fixed to adjustable that we decided to make the extra payments to pay it off. I think if you are going to stay you might be better to stay local or look on bankrate.com

Chris

I have read good and bad things about quicken loans. It sounds like it really depends on the person you deal with. Do a search on google and it might scare you off. I just refinanced and used the same bank I had, Suntrust. Staying with the same bank made it very smooth and simple.

I am not trying to be a smartass or anything, but what is the reason you want to include your wife on the note?

J

We tried to refi with them, it didn't go so well. They did not have access to some of the better programs at the time to get us the best rates and their LTV estimates were killing us. We ended up refinancing with another lender and QL was absolutely rude and unhelpful in working with that process (transferring some documentation to the new lender) although they had already said they were unable to assist us with our loan.

Slippery wrote: I have read good and bad things about quicken loans. It sounds like it really depends on the person you deal with. Do a search on google and it might scare you off. I just refinanced and used the same bank I had, Suntrust. Staying with the same bank made it very smooth and simple. I am not trying to be a smartass or anything, but what is the reason you want to include your wife on the note? J

I used a local place, but as suspected, the loan was shipped off to Bank of America. I've called a few times asking about refinancing and they always tell me they will get back to me in 90-120 days.

As for the wife, it will ease up my debt-to-income ratio raising my score higher. As for any type of cynical divorce/back-up plan/etc. type comment, keep that out of this thread.

I've used them twice. Early last year we re-fi'd with them, no brainer, quick smooth and low rate. We're closing on another re-fi at 5:00pm tonight, they guy we dealt with this time didn't konw his stuff and it got draged out longer, but still the lowest rate we found. Overall very vary happy, I simply can't belive the rate I have for a fixed loan with low costs.

A friend of mine works for them. If you do use them, he gets a nice referral bonus, and he can pick an agent who's a good person to work with, so I'll pass his info along if you're interested.

For what it's worth my buddy is on the techy side and absolutely loves working for the company. I think bad experiences in many banking/mortgage deals often link back to a shady broker/agent, but the company itself is reputable.

Please do! Add at gmail dot com to my username and that's my email.

I refi'd a year ago with them and it was a quick and painless process. Went from a 30 year fixed at 6.25 to a 15 year fixed at 3.25. My monthly payments went up $30. Everyone I dealt with during the process was courteous, knowledgeable, and had a quick turn around.

Dave Ramsey endorses Churchill Mortgage and so do I.

I gave them a shot when we wanted to re-fi, and they were super easy to deal with. Had guy come to our house with a stack of stuff to sign to finish it up, and didn't take long. Have nothing but good things to say. Dave hasn't steered me wrong yet, though his insurance ELP couldn't beat my current rates.

i really enjoy watching basketball at the quicken loans arena. other than that, sorry i've got nothing to add.

xflowgolf wrote: A friend of mine works for them. If you do use them, he gets a nice referral bonus, and he can pick an agent who's a good person to work with, so I'll pass his info along if you're interested.

I am in for an email as well.

ddavidv wrote: Dave Ramsey endorses Churchill Mortgage and so do I. I gave them a shot when we wanted to re-fi, and they were super easy to deal with. Had guy come to our house with a stack of stuff to sign to finish it up, and didn't take long. Have nothing but good things to say. Dave hasn't steered me wrong yet, though his insurance ELP couldn't beat my current rates.

Did you have to have an appraisal? That's what messed up last year, even though the appraiser said we were "in a consistent neighborhood, above average condition house, good lot" he appraised our house for$10k less than we had paid $2.5k before.

So the idea of no appraisal (since we think we are at the break even/no equity point) is an appealing idea.

ddavidv wrote: Dave Ramsey endorses Churchill Mortgage and so do I. I gave them a shot when we wanted to re-fi, and they were super easy to deal with. Had guy come to our house with a stack of stuff to sign to finish it up, and didn't take long. Have nothing but good things to say. Dave hasn't steered me wrong yet, though his insurance ELP couldn't beat my current rates.

I contacted them after listening to Ramsey (until I realized he's guilty of the same insubstantial sound bite mentality he complains everyone else uses) But they couldn't come close to Quicken loans for us.