ABOUT QUICKEN LOANS
On November 1, 2023, Quicken Loans came under the control of LMB OpCO, and is now a financial marketplace platform connecting consumers with a wide range of services, including mortgages, personal loans, home services, auto loans and more. Quicken Loans says it aims to simplify the process of choosing the right loan, by providing the information needed to make confident borrowing decisions.
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Rocket Mortgage
Purchase options:Conventional, FHA, VA, jumbo
Refinancing options:Cash-out, rate and term
Min. credit score:580 to 620
Max. loan amount:$2.5 million
AmeriSave Mortgage
Purchase options:Conventional, VA, USDA, FHA
Refinancing options:Cash-out, rate and term
Min. credit score:600 to 620
Max. loan amount:$1.5 million
Purchase options: Commercial, residential, military, seniors
Refinancing options:Cash-out, rate and term
Min. credit score:580 to 620
Max. loan amount:$1.0 million
Purchase options: Commercial, residential, military
Refinancing options:Cash-out, rate and term
Min. credit score:280 to 320
Max. loan amount:$1.0 million
Purchase options: Refinancing options available to lower payments
Refinancing options:change terms or take cash out
Min. credit score:580 to 620
Max. loan amount:$2.0 million
What is Quicken Loans?
Quicken Loans is an online, third-party marketplace connecting you to lenders and financial solutions. Solutions are available for needs like mortgage refinancing and personal loans. Other comparison solutions include:
- Credit cards
- Auto loans
- Insurance
- Home services
- Personal finance
Because Quicken Loans works with a number of companies, you can compare services, rates and other solutions in one spot. This makes finding a lender for your specific financial needs easier.
How does Quicken Loans work?
If you’re looking for cash or loan options, Quicken Loans starts with a short, one-minute quiz about financial need. To compare lenders, you enter information like what the money is going to be used for, when you will use it, credit score estimate, ZIP code, residential history and employment status. With this information, Quicken Loans provides personalized offers from a variety of lenders.
Getting initial offers from Quicken Loans doesn’t impact your credit score, and it is free. If you select a lender and apply directly, the lender will do a hard inquiry on your credit, which temporarily lowers your score. Lending terms and interest rates vary based on your financial profile and credit score.
Loans and loan comparison aren’t the only financial services Quicken Loans offers. You can also apply for and compare credit cards, insurance and home services.
Quicken Loans rates
Quicken Loans is a free online financial solutions tool. It doesn’t cost you anything to get a personalized loan offer or other financial solution recommendation. After you’ve compared offers through Quicken Loans, you may be subject to fees and interest rates from the lender you choose directly. Interest rates are based heavily on your personal financial profile. Things like credit score, income and loan amounts all affect interest rates and loan terms.
