Quicken Loans review: Company overview, pros, cons & More

Choosing the right mortgage lender often involves hours of research. That can include reading customer reviews and comparing rates, products and fees across providers.

Quicken Loans is an online marketplace that lets you compare lenders to narrow your search. It can help you find a suitable lender, but be aware that Quicken Loans promotes its sister company, Rocket Mortgage, and accepts compensation that can affect lender rankings.

Quicken Loans used to be a mortgage lender, but it stopped its direct lending practice in 2023. Its direct lending continued under a new company name, Rocket Mortgage, and Quicken Loans is now a marketplace where homebuyers can shop online for mortgage products and compare lenders.

Quicken Loans is a 100% online mortgage marketplace. You input some key information about your situation and some personal details, and Quicken Loans will connect you instantly with mortgage lenders that suit your needs.

Here’s what the process looks like:

Quicken Loans isn’t a mortgage lender, so it doesn’t have any mortgage products directly available. However, it can connect you to lenders that offer a few different types of loans, depending on your situation.

Traditional loans, also called conventional loans, are the most common mortgage type. Unlike…

Original source: https://www.usatoday.com/money/