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Wednesday, June 23rd
Cutting-edge technology from a mortgage refinancing lender that's been around for nearly four decades? Quicken Loans delivers. This company is the ideal mix of tried-and-true with all-things-modern, so no matter what style makes you most comfortable, you'll find it here.
No Personal Information Required
We love that there's absolutely no personal information required to see what rates you might get on your mortgage refi through Quicken Loans. Just go to the tab at the top of the site that says Mortgage Rates and click on the first link in the dropdown. Voila!
Helpful Knowledge Resource
Be sure to check out Quicken Loans' refinance guide if you need to do some learning before you jump into the process. It covers some of the reasons that you might consider a refi, what you need to evaluate about your situation (your credit score, how much your home is worth, and so on), and includes a calculator to see what your new monthly payments might be at today's rates.
Multiple Ways To Apply
You've got multiple ways to apply for your mortgage refinancing with Quicken Loans. If you want 100% online, you'll use their Rocket Mortgage service. Otherwise, you can start the process online and then speak with one of their home loan experts, or you can go directly to a representative. The choice is yours. (Side note: Quicken Loans' Rocket application was the only one we found that actually let us opt out of having our data shared with affiliates. Love that!)
If you go the online route, be prepared for your refinancing to be done in record time. NerdWallet, the NYT, and TechCrunch all praise the Rocket service for its lightning-fast verification of income and assets, which not only saves you time and hassle but also gives you a conditional approval for your loan in just a few minutes.
Schedule Your Closing
One big perk of choosing Quicken Loans for your refi is the ability to schedule your closing for the time and place you prefer. We know from personal experience how exasperating it can be to wait until the last minute to find out when and where a closing will happen, having to rearrange schedules and drive halfway across the county at a moment's notice. You won't get that here!
Quicken Services 99% Of The Loans They Close
Also, this company services 99% of the loans they close. Unlike many mortgage brokers who use wholesale lenders to close your mortgage refinancing - and who ultimately sell off your loan to one of the bigger banks - Quicken Loans takes most of their customers from start to finish.
Very Positive Reputation
Quicken Loans enjoys a very positive reputation within the industry. Not only are they "A+" rated and accredited by the BBB, they also earned the J.D. Power awards for customer satisfaction for both origination (the application process) and servicing (everything that comes after your mortgage loan is funded) - for 7-10 consecutive years!
No FHA, VA, Or Jumbo Loans Online
In fact, the only downside we could find with Quicken Loans is that they don't refinance FHA, VA or jumbo loans through their Rocket service. Fortunately, that's not a problem for the vast majority of homeowners looking for a refi today - and you may be able to access those loan types through their non-online platform. We encourage you to reach out to their customer service team if this applies to you.
There are very few companies that make the mortgage refinancing process as customer-friendly as Quicken Loans. For great service before AND after closing, look no further than this service for your refi needs.
While it might be tempting to go with a local mortgage broker or even your community bank, you're not likely to get the lowest rates or ideal terms that way. Why? They usually work with their preferred partners instead of negotiating or "comparison shopping" to get you the best deal. You're paying for convenience and familiarity, but that's it. Fortunately, there are many reputable online lenders that make it quick and easy to get low rates and great terms, all from your laptop or even your mobile phone!
With interest rates at historic lows, it's worth your while to consider mortgage refinancing. Whether you want to shave years off your current mortgage and lower your interest rate or get cash out from your established equity, there's no better time than now. Using an online lender lets you compare rates, complete the application, and finish the entire process without ever leaving home: some services send a mobile notary to you for the final steps of signing the paperwork! Otherwise, you can often choose a local title company if you prefer to go the more traditional route.
Not all online mortgage refinancing providers work the same. While some operate more like a regular bank, funding your loan themselves, others act as a referral service so that you can compare rates and offers from multiple lenders at once. Whichever site you choose, don't be afraid to take the quote you receive and ask other lenders to compete for your business! Some of the fees charged in the refi process are negotiable, so why not see who can give you the absolute best loan terms?
As you start the process of refinancing your mortgage, keep in mind the following criteria for each lender or service you're considering:
TopConsumerReviews.com has reviewed and ranked the best services for mortgage refinancing available today. We hope this information saves you money by helping you find the best rates and terms when you refinance your mortgage!
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