Quicken Loans Living in your car is better than trying for a mortgage from Quicken Detroit Michigan
Three months of pure hell at the hands of Quicken loans and its my own fault for not listening to friends that have had bad experiences and all of the complaints online! Three months ago I called Quicken because I wanted to buy the house I am renting, the owners agreed to sell me the house way under market value for about 189k. I filled out all of the forms, sent in W2's, contracts, bank statements and every other piece of paper known to man. I had my employer write letters after they asked about expenses not reimbursed, my 71 year old mother in law pulled bank statements showing that she could afford loaning us part of the down payment, I pulled rent checks, scanned in my marriage license, drivers, and soc, provided them with a copy of my lease, 12mo of checking account statements, copies of 2yrs of tax returns, a copy of the earnest money check, bank statements before I paid said earnest money, current bank statements, a 2nd letter from my employer stating that I have worked for my company for 3yrs, and a copy of the original offer letter I received from my company.Still it was not enough!So it gets down to the wire and Quicken has a appraiser come out, the guy was in my house for 5min, took photos of the rooms, never went into the loft or the crawl space or the garage and came back with a value of 175k based on houses blocks away from me! The people accross the street are selling for 250k so how he came up with this I will never know. So I call my attorney and he goes through the motions of getting my earnest money back, but then he calls me to say that the appraisal is not right for the area. Quicken looked at forclosures and smaller houses 5mi away from me! So I call Quicken, and now they claim that they need someone higher up to approve the exeption for my non reimburable business expenses, after I sent them a letter on company stationary from our benefits manager stating that my expenses are covered. So I call them on that one, then they say that they cant approve the loan because the house is worth 14k less than the appraisal, ok fine can you reissue my Pre Approval letter? No they are still saying that on my taxes it looks like I lost 3k last year in business expenses!A word to the wise, unless you have a straight forward only one W2, have worked in the same company for at least ten years, do not need to have family members help you buy your first house, and have never claimed a business expense on your taxes, have a clean credit rating of at least 800 you might stand, just might close a loan with these clowns. Oh and buy the way, they charge $500 upfront with the promise to return your money, then when the loan does not go through they deduct admin and usless apraisals and claim they will credit your account $50, but wait thers more! Then they said we will try to reissue your pre approval may we have your permission to run your credit again, like a dummy I said yes and guess what boys and girls that ate the $50!After all of that, I have no loan and now I am starting the process oall over again with (((competitor's name redacted)))! So far they have not asked for every thing but a DNA sample and they gave me this site to check them out and their BBB listing.Just avoid Quicken Loans, they will waste 2-3 months of your life and for most home buyers the house will be sold from under them or the seller will get tired of the delays and you still wont have a mortgage!