Everything you need to know about Quicken Loans
Do you plan to buy your own house and keep it? How do you plan on buying it? Do you have any money saved up? Or are you going to take some help from your family? You have another option if neither of those work out; home loans. And when you think of home loans, one company that stands out is Quicken Loans, which calls itself “America’s Home Loan Experts”. But, what is Quicken Loans and why should you know about it? Read on to find out.
A Little Bit About Quicken Loans
Originally called Rock Financial, Quicken Loans was founded by Dan Gilbert, Gary Gilbert and Lindsay Gross in 1985. The company now has its headquarters in Detroit, Michigan, with over 24,000 employees throughout the country. Currently, Quicken Loans is the largest online mortgage lender and the second largest home loan lender in the United States. Licensed to operate in all 50 states of the country, Quicken Loans manages the entire mortgage process either online or via phone.
The company has been recognized for its outstanding products and services countless times, with honors, awards and mentions from J.D. Power and Associates, Forbes, Money magazine, PC Magazine, and more.
Mortgage Rates at Quicken Loans
Quicken Loans offers competitive mortgage rates to customers throughout the country; these are affordable and easily repayable over a time period that ranges from eight years to thirty years. The most popular options include loans with 15 or 30-year loan terms. These allow the loan to have a fixed, low rate. Borrowers that are financially a bit more sophisticated can opt for adjustable-rate mortgages (ARMs); these come with five or seven-year terms, so the borrowers can minimize their payments.
Regular mortgages aren’t the only product Quicken Loans offers; you can also opt for FHA and VA loans with various mortgage rates and options that can appeal to different borrowers. There are also Jumbo loans for borrowers looking for higher value properties; these loans range from $425,100 to up to $3 million and have appealing, competitive mortgage rates and terms.
Quicken Loans Refinance
You can easily refinance your existing mortgages with Quicken Loans, where the mortgage refinance rates depend on the borrower’s profile, as well as the specific terms of your loan. However, you can rest assured that Quicken Loans always offers you competitive rates that can help you meet your own needs, along with those of your family.