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I want to seriously urge anybody out there to NOT do business with Quicken Loans EVER.

Don’t make the same mistake we did and ignore all the bad reviews. I’m sure some of you have reasons why you’re considering going with them (so did we) but trust me, in the end it’s not worth it, especially if you lose time, money and possibly the house, like we did.

Quicken is unscrupulous and uses Bait-and-Switch tactics that in my opinion are criminal and should be illegal. They will tell you anything to get you in the door hoping that in the end when everything falls apart it’ll be too late or you’ll be too desperate by then to back out.

We applied for a mortgage loan with them. On the first day we submitted ALL the documentation they required (recent paystubs, W2's, bank statements and so on) and they also ran our credit reports. They pre-approved us and we picked out a home and immediately submitted a copy of the contract to Quicken. Quicken sent us the Good Faith Estimate showing what our closing cost and monthly mortgage payment will be. The seller required a $5000 down payment which we had to pay right away, we also paid $500 to Quicken for a “Good Faith Deposit” and paid another $515 for the home inspection.

Once we were only 3 weeks away from our closing day they sent us a revised Good Faith Estimate showing the closing cost $5000 higher and the monthly mortgage payment over $200 higher than what we were originally quoted.

The reason they gave us was that they didn’t know about the HOA fee which is a total lie and absolutely ridiculous because it is clearly stated in the contract we sent them and even listed in their own Good Faith Estimate that THEY sent to us. They said that because of the HOA fee our debt to ratio income is now too high. They had all the numbers from the very beginning BEFORE they sent us the quote, it’s not our fault they can’t do math.

Also, during the entire time we were in almost daily contact with Quicken and they kept reassuring us that everything is fine and that we would get the loan…yeah, they just forgot to mention that it wouldn’t be the loan they promised and quoted us.

With all the numbers having gone up like that we could no longer afford the house, we were going by what was originally quoted to us. Not only did we have to back out of the contract and lost the house we wanted but we also lost the $500 Good Faith Deposit (Quicken said was non-refundable) and the $515 for the inspection, a total of over $1000.

This mess is now creating additional hardship for us because our lease at our current place runs out next month and after that we have to go month to month at a higher rate of $242 a month until we find another place and can close on it. That is after we find a new mortgage company because over my dead body would I ever do business with Quicken again.

I cannot stress enough to everyone out there, read the reviews, do some research and PLEASE do yourself the favor and find a different mortgage company.

With Quicken you’ll either end up with a loan you didn’t want and can’t afford or you’ll end up wasting your time and losing your money because you’ll have to back out at the last minute when Quicken finally “rears its ugly head”…and trust me, it is very UGLY!!!

Monetary Loss: $1015.

Location: Oldsmar, Florida

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Don't feel bad you are not alone, we just went through the same ordeal. $500 up front told us it was refundable not so.

Close to closing they throw all kinds of bull that we needed to pay off after they had told us that everything was a go or their famous word everything is GREAT. I have never felt as humiliated as I was with these people.

LIARS! All they do is mislead you and lie.

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