Quicken Loans review: rates, terms and more

See why many customers turn to Quicken Loans as their preferred mortgage lender. Learn about rates, terms, pros, and cons! Keep reading to find out the main features of this lender.


Quicken Loans: repayment terms flexibility, rate transparency

Quicken Loans logo
Find out the rates, terms, and more of Quicken Loans! Source: The Insider Advisor

When finding the best mortgage rates and getting approved, you need to work with a company you can trust! And in this Quicken Loans review, you might find what you’re looking for!

Quicken Loans logo

Quicken Loans: how to apply

Learn how to apply for Quicken Loans! Enjoy the ease of application and get prequalified fast! This article will answer your questions.

In this article, we’ll explore all the details of this lender, including the pros and cons!

So keep reading for more information on this lender! We’re sure that after reading this, you’ll make a more informed decision!

Credit Score580 or higher;
Loans OfferedConventional loans, Jumbo Loans, fixed- and adjustable-rate, FHA and VA mortgages, and refinancing loans;
Minimum Down PaymentAs little as 3%;
APRSee terms;
TermsUp to 29 years.

Quicken Loans review: what you need to know

Quicken Loans is one of the biggest lenders in the U.S. and is known for its great customer service. Also, it provides a very convenient website and mobile app.

Additionally, do not be surprised if, in your online application, you end up at the Rocket Mortgage website. Quicken owns Rocket Mortgage, which began an online experience of Quicken Loans.

This lender has multiple loan types, including conventional and jumbo mortgages, FHA and VA loans, and fixed- and adjustable-rate loans.

Customers can also apply for rate-and-term, cash-out, and streamline refinancing, as well as an investment property and flex-term.

Unlike other lenders, Quicken Loans offers more flexible repayment terms to its customers. They can choose from 8 up to 29 years. Also, the minimum down payment is as little as 3%.

When it comes to interest rates, customers can view daily updated interest rates on the Quicken Loans website, so they know what they’re applying for!

Furthermore, it offers a fully digital application process, and new borrowers can prequalify in a few minutes.

Quicken Loans main features

Happy young family couple planning monthly budget.
Compare the advantages and disadvantages of Quicken Loans before applying. Source: Adobe Stock

Quicken Loans is an excellent lender for flexibility, transparency, and support. However, before applying, you must also check this lender’s disadvantages.

To help you figure it out, below, we compare the benefits and drawbacks of this product! Let’s check it out!


  • User-friendly website and mobile app;
  • Flexible repayment terms and low down payments;
  • Prequalify in minutes;
  • Enjoy the convenience of a fully digital application process;
  • Exceptional customer satisfaction rates.


  • No in-person customer service is available;
  • It doesn’t offer home equity loans, HELOCs, or USDA.

Credit score required to apply

Since Quicken Loans offer multiple home loan options, the credit score requirements will vary! Nevertheless, applicants can apply with a minimum FICO score of 580.

Quicken Loans application process: how does it work?

One of Quicken Loans’ main benefits is its easy-to-use website, which provides all the necessary information for borrowers to complete their applications.

Therefore, applying for this lender is simple and only takes a few minutes! Do you want to learn more about how to apply for it? Don’t worry!

The next article will fill you in on how the application process works and what are the minimum borrowing requirements. Keep reading for more information!

Quicken Loans logo

Quicken Loans: how to apply

Learn how to apply for Quicken Loans! Enjoy the ease of application and get prequalified fast! This article will answer your questions.

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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