FeedbackChoose a rate that gives you a credit toward your closing costs
- Would you like help covering your closing costs?
- Would you like to take advantage of rates at or near historic lows?
- Would you like the choice of a mortgage rate that best fits your financial situation?
If you answered “Yes” to any of these questions, the Closing Cost Cutter might be right for you! Some rates may cover all of your closing costs. Ask us how this works.
Example: $200,000 loan amount, with 30% equity
| Mortgage Rate | APR | Monthly Payment | Credit Towards Closing Costs |
|---|---|---|---|
| 3.99% | 4.039% | $954 | $500 |
| 4.125% | 4.112% | $970 | $2,000 |
| 4.25% | 4.185% | $984 | $3,250 |
Why you should choose Quicken Loans
- Our exclusive online tools like MyQL let you track your mortgage process from start to finish, and our Mortgage Calculator app gives you rates right on your phone.
- We have an A+ rating according to the Better Business Bureau.
- We can find your perfect loan, and close it fast. Steeler of Baltimore, MD, said Quicken Loans walked me through my refi quick and easy. I went from a 30 year to a 15 with just about the same payment.
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 45 days.
- The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (800) 251-9080 to talk to one of our mortgage experts.
30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 3.99% and 70% loan-to-value (LTV) is $953.68 with -0.25 points due at closing. The Annual Percentage Rate (APR) is 4.039%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 4.125% and 70% loan-to-value (LTV) is $969.3 with -1 points due at closing. The Annual Percentage Rate (APR) is 4.112%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 4.25% and 70% loan-to-value (LTV) is $983.88 with -1.625 points due at closing. The Annual Percentage Rate (APR) is 4.185%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
Call now to pay less at closing with our Closing Cost Cutter!
Could you benefit significantly by refinancing or buying a new home, but have less money available to put to your closing costs? Every day Quicken loans has mortgage rates to choose from that give you credit toward closing costs. Perfect for those who have less to put down.
Here’s how the Closing Cost Cutter works
- Choose one of our daily mortgage rates that give you a credit toward your closing costs.
- Depending on your loan amount and rate, your credit could cover all of your closing costs.
- The Closing Cost Cutter is an option available on all of our loans.
If you’re ready to talk to a Home Loan Expert about your loan options, call (800) 251-9080 now or fill out the form on the right and we’ll call you!
Don’t miss out – lock-in your low rate! Call (800) 251-9080 or fill out this form now.
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