We’ve all heard of Quicken and immediately think: finance software. But, did you know this big name in bill pay and finance management offers mortgage refinance loans as well? Neither did we. Our team couldn’t pass up an opportunity to expand our knowledge of Quicken and we were impressed by our first look at the Quicken Loans website. It looked very user-friendly and not to mention resourceful. Read on for our experience here below.
What's New?
- Interest-only refinancing available.
- Quicken's RocketLoan program allows you to apply online and speeds up the underwriting process for faster closing.
- Low-income families can refinance up to 100 percent of their home's current value.
Star Reviews Favorite Feature:
We really like Quicken Loan's SmartChoice refinance loan. It allows homeowners to refinance their homes with the option of paying interest only payments or interest plus principal on a month by month basis. If you want to pay your loan off faster, pay as much as you want during any given month. If some months have you strapped for cash, flex your interest-only option and pay the low interest-only payment.
The Quicken Loans Experience:
The Quicken Loans website is jam-packed with helpful mortgage refinance information without being difficult to navigate. When you arrive at the Quicken Loans landing page, we suggest mousing over the “Refinance” tab located on the top of the page and then select the “Refinance Center” option. You'll be taken to a page containing all of the information you could possibly want about mortgage refinance loans. Take some time browsing this section of the site and you'll really be up to speed on what mortgage refinance is all about.
If you're not sure what type of mortgage refinance loan is right for you, click the “Refinance Loan Options” link. You'll be taken to a helpful page that gives a rundown of the different mortgage refinance loan options available through Quicken. From low-doc loans to low-income loans, Quicken seems to have mortgage refinance options to meet every need. You can also call Quicken's 800 number to discuss your refinance options with a Quicken rep or use their instant chat option. We had great success with both.
If time is of the essence, Star Reviews suggests using Quicken's RocketLoan service. Approval and underwriting are faster using this service, which means you get to the closing table faster. If you're refinancing due to budget strain, this may be the ideal option and your refinance can be completed in as little as two weeks.
Quicken Loans Features:
- Interest-only refinance options
- No-doc and low-doc refinance loans
- Community100 refinance loans for low-income families
- Mortgage refinance calculators
- Informative mortgage refinance articles and advice
- Expedited RocketLoan mortgage refinance service
Quicken Loans Customer Support:
Quicken Loans offers customer service via toll-free phone and instant chat. Customers also have an extensive knowledge base to reference with dozens of mortgage loan refinance articles and helpful tips and tools. When we contacted Quicken Loans by phone, our call was answered in about three minutes and we were connected with a very helpful rep who explained, in detail, the differences between a few of the Quicken Loan mortgage refinance options available.
Chat support was also impressive. We were connected with a rep in about 90 seconds and threw quite a complex question at him. He asked a few questions to clarify our needs and provided us with in-depth answers that addressed our concerns perfectly. Quicken Loans customer service definitely gets an A+ from the Star Reviews team.
Upside:
Helpful and knowledgeable customer service, wide array of refinance options, lots of great information.
Downside:
The sheer number of refinance products may overwhelm some borrowers.
Summary:
We were really impressed by the Quicken Loans mortgage refinance loan website! They definitely are up-to-par with the competition in the finance arena, and offer a plethora of useful features and information. There are Community101 refinance loans for low-income families, which allow those struggling with their finances to refinance up to 100 percent of their home's current value. The SmartChoice refinance loan option lets customers refinance their homes with the option of paying interest only payments or interest plus principal on a month by month basis. Quicken's RocketLoan program allows you to apply online and speeds up the underwriting process for faster closing. Customer support in every department (toll-free number and live chat) were friendly and informative. They receive a thumbs up!