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Quicken Loans vs Freedom Mortgage

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QUICKEN LOANS

Quicken Loans have been in the home loan and mortgage refinance business for over 28 years and strive to close the majority of their loans within 30 days or less. They currently hold an A+ rating by the Better Business Bureau and have historically closed billions of dollars in loans each year. Much like other companies reviewed, they work with varying lenders but act as the loan processor and closer in the process.

The website is well designed and easy to follow with step-by-step instructions that eliminate unclear expectations of the Quicken process.

Inquiry Process:

  1. Complete online request identifying mortgage goal, mortgage amount, home value, credit rating, contact information and more.
  2. A Home Loan Expert calls to verify your credit score and discuss your loan.
  3. Get matched to a loan.
  4. Make a deposit to cover the loan processing costs.

You may start the loan inquiry process online for free, however an application fee exists if you decide to move forward with the loan presented by Quicken. This fee to is to cover the cost of running a credit report and managing the loan process.

Quicken Loans also provides credit repair information, in case you want or need to raise your credit score before applying for a loan. Their website provides some informative details on loan types, loan rates and more.

Quicken Loans is an strong choice for a home loan. We would have liked to have seen more information regarding their lenders and a little more loan detail before have to speak with a Quicken representative. However, if you're in the market for a home loan, Quicken Loans (877-715-0889) is a great place to start.

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FREEDOM MORTGAGE

Freedom Mortgage is a New Jersey based company that provides a variety of home loan and refinancing options. In business since 1990, Freedom has helped thousands of customers with their home loan needs and works with customers in all 50 states. Freedom serves as the mortgage originator and loan servicer but also states that they have lending partners.

The application process is pretty straightforward and traditional at Freedom Mortgage.

Inquiry Process:

  • Complete an online request identifying your name, contact information, address history, property details, sources of down payment, tax information, sources of income, employment address, details of assets, a long list of declarations, and ethnicity.
  • A Home Loan Expert calls to verify your credit score and discuss your loan.
  • If approved the loan detail options will be sent via email.

The Freedom website has an extensive list of tools for the home buyer. Identify mortgage rates, the difference between loan types, mortgage calculators, education tools and much more. The website also offers a blog with a plethora of additional articles and details on home loans.

Freedom also offers a pre-qualification process if you have not yet identified the home you wish to buy. The process is similar to that of applying for a loan and the anticipated turn around is typically a few days.

Freedom Mortgage doesn't have all of the bells and whistles of those companies ranked higher. Specifically, the list of potential competitive loan choices are shorter. Freedom is similar to finding a local lender but without the hassle of making an appointment, leaving work and being fixed to bank hours. Freedom does offer a nice variety of loan types and their customer representatives.

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Home Loans

To help you find the Best Home Loans, TopConsumerReviews.com provides you with an in-depth comparison of Quicken Loans and Freedom Mortgage.

Today, home loan rates and home prices are very favorable to the buyer. Not only can you find a great home at a good price, you can usually borrow money at very affordable rates. And lending companies are once again eager to loan money to well qualified buyers.

A savvy home buyer should take the time to determine which home loan lender has the best home loan rates. Shopping for the right home loan can save you thousands of dollars in interest and mortgage payments. A low home interest rate can also enable you to pay off your home loan years ahead of schedule.

Traditionally this involved visiting different banks and lending institutions, filling out paperwork, and waiting for a reply to come in the mail. Using the internet, however, makes this process much easier. With this latest trend in finding a home mortgage, you can easily browse through offers from a variety of lenders in the comfort of your own home. You'll find that online home loan lenders often offer the best home loan rates.

Before you begin your home loan search, you should consider the following:

  • Application process. What is the process of inquiring for a home loan? Can you expect a phone call or does the home loan company offer a more convenient online application process?
  • History. What might you qualify for, given your credit history, size and type of home loan desired? Does the home loan company have a history of effectively and professionally assisting consumers?
  • Number of Lenders. How many lenders does the company work with to find you the best home loan rate? How does this compare?

TopConsumerReviews.com has reviewed and ranked the best Home Loans available today. We hope these reviews help you find the loan that meets your financial needs!



Home Loans In The News

Freedom Mortgage Named To Inc. 5000 List Of Fastest Growing Companies For Sixth Consecutive Year

MOUNT LAUREL, N.J., Sept. 25, 2018 /PRNewswire/ -- Freedom Mortgage, one of the nation's top non-bank, full service mortgage lenders and a leader in government-insured lending, is proud to be named to ...

Published:  Tue, 25 Sep 2018 10:25:00 GMT



Deephaven Mortgage launches new non-QM tool with LoanScorecard

Deephaven Mortgage is launching a non-qualified-mortgage point-of-sale/pre-qualification tool called IDENTI-FI AUS to simplify the origination and qualification processes for Non-QMs. "When we first e...

Published:  Tue, 25 Sep 2018 09:14:00 GMT



PennyMac Mortgage Investment Trust Declares Third Quarter 2018 Dividend for Its Common Shares

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- The Board of Trustees of PennyMac Mortgage Investment Trust (NYSE:PMT) declared a cash dividend of $0.47 per common share of beneficial interest for the thi...

Published:  Tue, 25 Sep 2018 05:30:00 GMT



Residential mortgage exchange MAXEX raises $38 million

MAXEX LLC, an Atlanta-based residential mortgage loan exchange provider, said Monday it has closed a $38 million new funding round led by Moore Asset Backed Fund, LP, an investment fund managed by Eri...

Published:  Mon, 24 Sep 2018 14:02:00 GMT



LGBT community has massive buying power, but little protection on mortgage bias

Fifty years after the Fair Housing Act was enacted in the United States, the lesbian, gay, bisexual and transgender (LGBT) community are making some strides in homeownership. Part of the reason for th...

Published:  Mon, 24 Sep 2018 22:20:00 GMT



Finance of America Reverse introduces first-ever second-lien reverse mortgage

Finance of America Reverse released a new version of its proprietary reverse mortgage product, unveiling the HomeSafe Second - the first jumbo reverse mortgage to allow homeowners to retain an existin...

Published:  Tue, 25 Sep 2018 07:54:00 GMT



3 Signs You Should Refinance Your Mortgage

In a perfect world, we'd all be able to get affordable mortgages at rock-bottom interest rates when buying a home. But we don't live in a perfect world, and sometimes the only mortgage you can get is ...

Published:  Mon, 24 Sep 2018 18:33:00 GMT



First Week of November 16th Options Trading For Invesco Mortgage Capital (IVR)

Investors in Invesco Mortgage Capital Inc (Symbol: IVR) saw new options begin trading this week, for the November 16th expiration. At Stock Options Channel, our YieldBoost formula has looked up and do...

Published:  Tue, 25 Sep 2018 08:47:00 GMT



UAE banks group considers asking for ease in mortgage rules

DUBAI/ABU DHABI, Sept 24 (Reuters) - The United Arab Emirates' banking group is considering whether to ask the central bank to relax mortgage lending rules to stimulate a fragile real estate market, s...

Published:  Mon, 24 Sep 2018 10:31:00 GMT




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