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couple setting up furniture in their new homeMortgages are essential. Without them, most of us would never feel the pride that comes with homeownership. And, while we at Quicken Loans have simplified the mortgage process for our clients, mortgages are still pretty complex. There are a number of documents required during the mortgage process, and some aren’t easy to understand.

That’s changing for the better. Starting on Saturday, October 3, some new federally mandated regulations and forms will help clear things up for everyone.

The new forms, the TILA-RESPA Integrated Disclosures (TRID), combine four forms into two that are easier for borrowers to understand. You may also see these referred to as “Know Before You Owe” forms.

About the New Forms

When you go through the mortgage process, the lender is required to give you these two new forms. One is the Loan Estimate, which you’ll receive early on. Later down the road, you’ll also get the Closing Disclosure so you can review the final loan terms before you head to the closing table.

Loan Estimate

The Loan Estimate replaces both the initial Truth-in-Lending (TIL) statement and the Good Faith Estimate (GFE).

After providing some initial information to the lender (name, income, estimated property value, etc.), you’ll be sent a Loan Estimate within three business days.


Your Loan Estimate consists of three pages. The first page lists general information about your loan:

  • Applicant info and property details
  • Loan type, purpose and terms
  • Projected payments during the loan term
  • Estimated closing costs and how much cash you’ll need at closing

The second page of the Loan Estimate breaks down the closing costs:

  • Origination Charges (to cover lender expenses)
  • Other Costs (third-party charges, like taxes and homeowners insurance)
  • Calculation used to determine estimated cash required at closing
  • Adjustable interest rate table, payment table (for ARM loans only)

The last page shows information about your lender and further details to help you choose which loan is right for you:

  • Contact info for your lender and loan officer
  • Comparisons (consistent table format to make comparing different loans easy)
  • Other Considerations (details specific to this loan from this lender)

When you’ve decided on your loan option, you must sign the Intent to Proceed document. Without this consent, your lender cannot move forward with processing your loan.

Closing Disclosure

The new Closing Disclosure replaces both the final Truth-in-Lending disclosure and the HUD-1 statement.

When your loan is ready to close, you’ll have a final discussion with your lender to go over the loan and its terms to make sure you understand and agree to everything. Following this conversation, they will provide you a Closing Disclosure detailing your loan terms.

The Closing Disclosure is designed to be straightforward and covers essentially the same topics as the Loan Estimate with added information related to your escrow account (which holds funds to pay your taxes and insurance). You just have to make sure everything matches what you agreed to previously.

About the New 3-Day Waiting Period

Your lender is required to give you a minimum of three business days to review the Closing Disclosure before your closing can take place. If you request changes to the Closing Disclosure, a new one must be issued, and another three-day review period will begin.

It’s important to acknowledge receipt of the Closing Disclosure as soon as you get it so your closing will not need to be delayed.

That’s the lowdown on the new TRID forms and regulations around the Loan Estimate and Closing Disclosure. Any questions? We’re here to help! Just give us a call or leave a note in the comments.

This Post Has 200 Comments

    1. Hi Clair:

      While we try to answer as many general information questions as we can here in the comments to make it a resource for people, every situation is different and mortgage financing questions tend to be very personal in nature and involve people’s sensitive financial information. If it’s a question on a specific mortgage rule, we can answer those. However, out of respect for your information and the information about others, we don’t comment on personal situations.

  1. You must answer the Questions asked by us, your mortgage clients, please.
    I is a waste of time to read the Q’s, read the answer, to find out that someone from ‘headquarters’ will “reach out” to us. …no reason to read the ‘comments’, right?

  2. 1) I’m working on a loan which was supposed to have no closing costs. But, I was obligated to show that I have at least 17K in ‘reserve’.
    2) I just read somewhere that I will find out my:
    “Estimated closing costs and how much cash you’ll need at closing”
    My question is the following:
    If a loan is being worked with a rate of 4.6….% (very high), plus probing I have cash together, $17K, shouldn’t even be mentioned. Might this have something to do with item “2” above. Keep in mind this a ‘no closing costs’ loan.
    I’m being asked now to give them my wife’s bank account id and password, Why all of this?. Not even I, her husband, have this information.
    Never heard of this and why is anybody allowed to even ask for this information?.
    If I give QL this information, how much time will QL need to see the 2 the most recent statements I sent match what I sent so I can close this bank account and change all the main info in the new one?.
    I’m going to CHASE tomorrow to confirm if this is allowed in writing. Otherwise I will have no problem just deleting everything within QL and going to another #1 Mortgage Institution.

    1. Hi Angel:

      I want to make sure you absolutely get the right information. Someone is going to reach out to you as soon as possible. There are a lot of questions here that are bit complicated to answer on the blog, but we’ll have an answer for you as soon as possible. Thanks for reaching out!

      Kevin Graham

  3. “After providing some initial information to the lender (name, income, estimated property value, etc.), you’ll be sent a Loan Estimate within three business days.

    I was told today by my Mortgage person that this couldn’t be provided until I’ve put an offer in on a property. This does not sound like the case after reading this article. I was really interested in Rocket Mortgage, but I don’t understand why it is so hard to give me an estimate of costs to compare with other lenders. I’m not going with a lender that can’t provide this. It’s common practice and all the others have provided it within 24hrs.

    1. Hi Taylor:

      Thank you for making us aware of your experience. We are going to look into your situation and someone will be reaching out tomorrow.

      Kevin Graham

    2. I am in the same situation on refinancing, he emailed me some info, but when I ask for a disclosure so I can review all the charges, he clammed up quick and trying to say he would look into it. There is no looking into it, either provide me with the disclosure or I will go to to another co.

      1. Hi Wayne:

        I’m going to get this to our team to look into your experience. If we were evaluating options for you, it’s possible he wanted to make sure we had you in the right option for you before sending anything out. There are timing rules involved each time we issue one of these estimates or disclosures. However, we will look into your personal situation. Have a great day and thanks for reaching out!

  4. WE were told at the beginning of going with QUICKEN LOANS will only take 30 to 45 days. After 65 days for a VA loan, received document Closing Disclosure, (3 day waiting period) on My 25th. Received closing Disclosure 3512369741 05/25-01:20:56. It shows Closing it date: 5/31/2016 with Disbursement Date: 06/06/16. Took off work to sign papers with notary on 5/31/16. NO CALLS, NO SHOW NOTARY. WENT ON QL, IN COMMENT SECTION, WAS WRITTEN for todays date 5/31.at 9:30 AM Quicken Loan time, our time: 7:30 AM, WE WILL HAVE TO HAVE 15 MORE DAYS…… WHAT?……. Unacceptable. When we called in, said there was a “glitch” with underwriting over $200. which was made straight. We were told a team would be working on this again…. This is the 12th team we have been turned over too. Have to go through the same story over and over. Have the team doesn’t even read our file. Such as days posting, 5/31: Loan needs to go another 15 days. We feel we need to speak to attorney. VERY DISAPPOINTED…..

    1. Hi Catherine and Mark:

      We never want our clients to feel this way. I’m going to pass this along and see what we can do to help here. I’m going to have someone reach out.

      Kevin Graham

  5. When I started this loan, I was told they were going to try and close my loan 8 days prior to Jan. 4..I spoke with Jordan Hamling. He said it would take a few more days due to the holidays. I’m waiting anxiously for this loan to be completed. It was going great and I understand that there was the holidays but it looks as if you guys worked during the holidays. I had to call QL, they had not contacted me on the 4th to let me know they are still working on my loan. I rather you call me then not to call me. It was going really good up until now.

    1. Hi Michelle:

      We understand your anxiety. Obviously, fewer people were around during the holidays. We are still working hard for you to get this done. I’m going to have someone call you tomorrow. Thanks for reaching out and have a good night!

      Kevin Graham

    2. Q & L is a popular and legitimate mortgage company. I am getting a lower interest rate and less years on my loan so I can pay my house off sooner! My Concern about this loan not being a married with joint residence. Should we be concerned? God forbid something happens to me I don’t want my wife in probate for our house. Tim Burger is my contact person!

      1. Hi Dwain:

        I’m going to get you to someone that can answer your questions in this area. Thank you for reaching out. Have a great day!

        Kevin Graham

  6. So I recently closed on my refinance loan and everything went how they said it would. After reading many horrible story’s on here and other websites that others had encountered I just keep saying umm that is not what’s going on with me/my loan. The whole process took less than a month and in the end the numbers and payment went down a little from the estimate..No bs.. Everyones personal situation is different which make no two loans alike. Like I said before who you personally deal with will make a big difference. The team/people I dealt with clearly knew what they were doing and we’re not out to screw me..they made everything clear and the numbers made sense otherwise I would not have gone forth with the loan. It was a pretty simple process and just would like to say thank you to the people that helped me on my loan.

    1. I’m glad you had a good experience, Mike! We pride ourselves on being able to make everything clear and make the process as efficient as possible. Thanks for sharing!

      Kevin Graham

  7. Hello Kevin
    My rate lock will expire on Monday January 4, 2016. Today is Saturday January 2nd and no one works on Sunday January 3rd. I have a Refinance Loan pending. Could you tell me what the interest rates will b from January 4th until January 30, in case Quicken Loans® does not get my Refi closed in time for me to get the locked in rate??AND do I get the lower rate if lower than the lock in rate? Thank you!

    1. Hi Sharon:

      We do have people on our Client Relations team that work on the weekends. I’m going to pass your issue along. As for interest rates, those fluctuate daily and no one knows what they will be. Thanks for reaching out!

      Kevin Graham

  8. I have applied for a conventional 10-year loan. I have been informed that a “cash reserve account” must be verified and maintained during the entire loan approval process. The figure that I was provided equates to approximately 10% of the loan amount. Please explain the definition of this mandatory “cash reserve account”, provide the required directive or regulation requiring such a reserve, and provide the methodology used to compute the amount of the reserve. Thank You.

    1. Hi Dan:

      I’m going to have someone from our client relations team reach out in the morning and help you with your question on reserves.

      Kevin Graham

  9. I have 2 residences in 2 different counties. My residence in Statesboro Ga. 30458, and my common law husbands home in Sav. 31407. I live about 50% of my time at each resident, fluctuating according to my health and if zi need to stay with someone. My drivers license and mailing address is in Sav. 31407. In Statesboro I have all the normal maintenance and monthly household bills and I pay my real estate taxes there, car tag and car and home insurance there. Because of my living situation my loan is being considered an investment rather than homeowner.
    Is there any benefit in classifying this loan has an investment? Like interest rate, etc.over a homeowners?
    Is there any benefit in classifying this has as a home loan? Like interest rate, etc. over an investment loan. So far my experience has been a good one. Thank you.

    1. Hi Wanda:

      If by investment you mean investment property, they come with a higher interest rate than primary properties. But usually homes are classified as investment properties because you have renters. You just can’t switch back and forth and you can only have one primary property. I’m going to refer your comment to someone on our Client Relations team for a more thorough look at your situation. They are off today, but they should reach out soon. Happy New Year!

      Kevin Graham

  10. Well after reading all the bad things everyone is saying, I’m glad to see that I’m not the only one that has these issues with Quicken Loan. One email says one thing then the closer emails me and says another. Wow that’s all I can say is Wow!

    1. Hey Todd:

      Sorry to hear you’ve had a poor experience with us. I’m going to get this to the right people so it can be looked into. Someone will be reaching out.

      Kevin Graham

  11. I have uploaded about 48 documents in the process of obtaining a mortgage, not including documents my wife has faxed in. You have collected the perfect database for identity theft, including the names, birthdays, and SSNs of everyone in my family, bank account numbers and balances, tax returns, pay stubs, addresses, etc. I know you will say the site is secure, but dozens of corporations have been hacked. The only failsafe is not holding on to records you do not need.

    What is the policy for how long you will retain these records after closing? Once the mortgage is a done deal and any government required post-closing audit is completed, will you delete all the information no longer necessary to qualify for the loan?

    1. Hi Doug:

      We take the information you provide to us very seriously and treat it with the respect and care it deserves. You’re correct to say that the best way to make sure information doesn’t get into the wrong hands is not to have it at all. We’re required to keep certain information for a period of time in order to maintain legal compliance. I’m going to pass on your question so that someone can get back to you about the security policies we have in place and how long we hold your information.

      Kevin Graham

    1. Hi Joni:

      In order to protect the privacy of our clients, we cannot share the circumstances surrounding any loan issues faced by other clients. That said, I’m going to have someone reach out to you and provide an update on your loan process and make sure things are going as smoothly as possible.

      Kevin Graham

  12. Quicken loans let me know 1 week before my loan is/was to close the mortgage banker made a mistake and put me in a loan I do not qualify for. It has been 30 days, I’ve received “we look forward to closing early”, “we have everything we need”, positive phone calls…while all along they had me in the wrong loan. I have removed the lien on my property leaving them no excuse to close ( a cash owned property) and honor their rate. With the new 3 day, and not receiving any paperwork, I think they will miss it. I am curious their plan to remedy what will effect my family for 30 years.

    1. Hi Marissa:

      We’re sorry you’ve had a poor experience. I’m going to have someone look into this and get back to you. Thanks for reaching out.

      Kevin Graham

  13. I have discussed with Quicken Loan guys that we have to close the house by end of the year and i was told that we can do it. Till last week we were sure that the closing will be on 12/28/15. I just saw a message from Courtney Milner that we cannot close it on 12/28/14 and she is saying it will be on 01/04/16.

    I donot know how this impact me since my purchase documents says we have to do it by this date and if not I may lose my earnest money deposit and the price offered on this house may not be good and I may have to pay 200/Day.

    So quicken loans will be taking care of this payment if it cannot happen by the said date before. Please let me know why should I be the person suffering this loses since I have been asking you guy right from start if you can close or not. If not i would have gone with the builders lender and they would have closed it.


    1. Good afternoon, Niranjan:

      I’m sorry you’ve had less than the best experience. I’m going to forward your concerns to the appropriate people and see if we can get you on the right track.

      Kevin Graham

  14. I currently have a loan with QL. I was told I could use a voucher (Silver from a friend) for the next one with QL.

    I am just about to close and will be rescheduling as at no time was I given the chance to use a Silver code. The whole loan process started and was scheduled to finish in 4 days.

    Until the Silver code can be applied, I will be calling the Notary to wait for paperwork that includes the applied credit.

    1. Good morning, TR:

      I’m going to pass this along to the appropriate people and we’ll see about getting that code applied. Thanks for reaching out with your concern!

      Kevin Graham

  15. Quicken Loans® has a 5 star rating and in large part has been excellent to work with. However, we hit a snag with a VA loan through them 2 1/2 weeks ago, one which I felt would not be resolved, so I suggested we convert to conventional, as my lock on interest was looming ahead on Dec. 29, 2015. I had contact with the Director of Mortgage Banking and others working on it, but it was not until last Friday that I convinced them to switch over to a conventional loan. All information is in and I’m facing the 3 day waiting period, but I am leaving for Alaska on December 23 and won’t return until January 2, 2016. I do not know how we are going to get this loan closed and I’m concerned. If we’d switched when we hit the snag, there would have been no problem. Right now I feel like I’m in an uncomfortable limbo.

    1. Hi Frances:

      I’m going to get this in the hands of the right people and we’ll see if there’s something we can do to get this resolved.

      Kevin Graham

    2. Thanks Frances for heads up. I am also planning on using a VA loan and would like to iliminate this hurdle if possible. This was very helpful.

      1. Good morning, Dan:

        I understand your concern. While there are occasional hurdles in the loan process, you may find that you have no trouble. It’s also important to realize that every situation is different and our clients don’t always face the exact same challenges. In any case, we work our hardest to make sure every client has the smoothest loan experience possible. If there are any bumps in the road or you have questions, we’ll be there to help you out every step of the way.

        Kevin Graham

  16. We have had to show documents more than once, had a conference call with our current lender showing our payments have been current for the past several years and still QL wanted documentation of the past 2 years current. That issue was finally resolved, after several trips to the bank and repeated phone calls, then didn’t need them..due to the conference call with the current lender. Now we have had an approved FHA appraisal company come and appraise the house, and was cleared with only a minor repair to some chipped paint on a door (that has been repaired). Now, even though the appraisal company, we paid for and QL hired, has approved the appraisal and cleared the entire house for an FHA loan, QL has informed us that at our own expense we may have to have a licensed and bonded roofing company come and inspect the roof. As I stated before, the appraisal company they hired, at our expense, cleared the roof also. WHY would we need another company to come and inspect the roof???

    1. Hi Bradley and Terri:

      I’m sorry your experience with us hasn’t been the best. We’d like to look into this issue. Someone will be reaching out to you soon about this.

      Kevin Graham

  17. New here and everything seems to be working ok, despite all the negative comments i have read! Being positive is the goal!!

    1. Hey Andrew:

      We definitely plan on keeping your process as smooth as butter. We like the positive attitude and we’re going to keep you that way!

      Kevin Graham

  18. The following questions are in reference to closing a Quickens Loan.
    Who does Quickens Loans Title work?
    Are they licensed to write title insurance?
    With the new TRID laws where can a closing take place?
    Are they in violation of TRID not closing at an attorneys office?
    If this Quickens Loan is allowed to close at the persons home or at another office who is there representing Quickens? Is it just a roving notary that notarizes paperwork? If so they cannot answer questions about this loan correct? How is that handled?

    1. Hi Debbie:

      We can meet you anywhere that’s convenient. The TRID laws don’t affect that. As for your other questions, I’m going to pass them along to a Home Loan Expert that can help answer any of your questions or concerns around the closing process.

      Kevin Graham

  19. Thank you for the information in the article. I also wanted to comment because of the excellent experiences I’ve had with Quicken so far. I’m working on my second loan with them. The first one was completed super smoothly and quickly and so far it appears this one will also. I made my first inquiry yesterday, got all the requested info back, had another question I had to respond to today. I’m pre approved and the appraisal is scheduled for tomorrow. I’ll be back to comment if things should change, but I was super happy last time and have no reason to think I won’t be similarly pleased this time. I wouldn’t be working with Quicken a second time if I weren’t happy the first!! I’m bummed about the 3-day waiting period but kind of understand it. Kind of!!

    1. Hi Julie:

      That’s the kind of thing we absolutely love hearing. We’ll make sure that things keep going super smoothly and that you’re kept informed throughout the process.

      Kevin Graham

  20. I do agree with a lot of these complaints. It seems as if everything starts off and goes and then everything just comes to a hault. I too am very frustrated and this is my 2nd time to refinance with Quicken. I had a really bad experience the first time and this one seems to be slowing down. When I tell people I am going to close, they keep saying you said that last week. I too feel like I just keep saying it and it will never happen. I have 3 people working on mine.I just need for this to be done and over.

    1. Good evening Bianca:

      We never want to hear one of our clients has had a bad experience. We’ll be looking into this tomorrow. Thank you for making us aware of the problem.

      Kevin Graham

    2. I hear you Bianca, same story here. I just had my senior loan specialist move my loan to yet another Quicken loan because “he got promoted” . Really??? I get promoted, I still finish my previous commitments and not play hot potato with my loan till enough time passes that the sellers are ready to pull my deal. Exhausted….

      1. Hi Derek:

        I’m very sorry to hear you’ve had less than the best experience. We don’t want our clients to feel like they’re just another loan, because you’re not. I’m going to have someone reach out to you and we’ll get this on track.

        Kevin Graham

      2. Ditto,

        I’ve missed two closing dates and am now ready to miss another one. The sellers were at the table today signing and I couldn’t join them. Quicken told me to push it to the 23rd and my sellers agreed. Now quicken is saying the 30th!!!!! I can only imagine what the sellers are thinking. I provided documents on top of documents, explanations after explanations only to hear ok and then well not yet. This time the excuse was they needed to do on final review…at least four days. This is the first and last time I’ll try quicken. Nothing Quick about Quicken. Sols me on there process up front and now I’m at their mercy.

        1. Hi Darryl:

          We’re very sorry to hear you haven’t had a good experience with us. I’m going to have someone reach out and look into your issues to get this turned around.

          Kevin Graham

  21. I have read mostly all the comments and from what I gather, I am afraid that I will never close on the home I am trying to purchase.
    I have been asked for so many documents, over and over again; that I whomever is responsible is simple not interested in due diligence.
    It’s at a point that I am leaving tomorrow to the West Coast where I am relocating for my job. I will bet they’ll ask for more documents even though they state they are working on the last one.
    Someone mentioned about being frustrated, I am not just frustrated’ rather , gasping for air. It seems buying a property these days require rocket science.

    Please speed up the process, there’s no need for one piece of document to take days to process.


    1. Otto:

      We never want to hear one of our clients feels this way. We’ll be having someone reach out to you to look into your paperwork issues. Thanks for making us aware of the problem.

      Kevin Graham

  22. I’m also trying to refinance and so far I guess it’s going how it should and time will tell. Maybe it all depends on just who you get to deal with. obviously how people take their jobs can make a big outcome for someone’s experience.

    1. Hey Mike:

      I can tell you we take each and every client seriously every time. Your loan is in very good hands, but I’m going to have someone reach out to you tomorrow to give you an update and answer any questions you may have. Have a good night!

      Kevin Graham

  23. I agree with many of the comments here.
    Quicken loans is great to get you a pre approved loan but when handed off from that sales guy who got you to sign the contract gets handed off to someone else the quality drops off.

    A disgruntled customer that ismgetting more disgruntled every day


    1. Hi Rex:

      We’re sorry to hear you’re feeling disgruntled. Someone will be looking into this and reaching out shortly.

      Kevin Graham

    1. Your post hasn’t been deleted. It still shows up. It may have been moved into a thread because it’s been responded to. I’ve sent your comment through our system so someone will be looking into your issue.

  24. So angry. My loan on myql.com said it was in final review on the 1st of December. I have been in contact with my senior purchase specialist on the 1st and the 2nd and he said it was in final review. I called for an update today December 3rd and he said my loan can not go into final review until my rate was locked. Why wasn’t my rate locked in on the 1st? They are also saying I have to wait 10 days after my loan is finalized to sign the papers. In the website it says 3 days not 10. So with the 10 day waiting period I would have had an extra weekend to move before Christmas. Now I only have 1 weekend before Christmas to move. I have had numerous issues with Quicken. I do know that there are many people with other mortgage companies that are unhappy as well but it seems that there is a lack of communication within Quicken and its various departments.

    1. Hey Nick:

      We’re sorry to hear about your experience. I’m going to have someone look into this to see what’s going on here. They’ll be in contact with you.

      Kevin Graham

  25. So far we have been,” just one more thinged,” to death during this GI home loan process, as it drags along. We feel more like more as employees than as a customers of Quicken Loans®. We know that they will find that we have never missed a mortgage payment, since our first one in 1983.

    1. Hi Vic and Sue:

      We value having you as clients and you aren’t just another loan. I’m going to have someone look into your situation first thing in the morning and see what we can do to help get this turned around. Someone should be reaching out.

      Kevin Graham

  26. I’ve been the one that has been delaying things because I didn’t have an understanding of the FHA requirements. After I found them out I have been nonstop getting everything squared away. Should have everything done and to requirements as researched. Been rough month or so but quicken has been great and understanding. Weather seems to be the obstacle stopping my final requirement.

    1. That’s good to hear, Troy! Glad we’ve been able to help. Hopefully the weather gets better soon where you’re at. Mother nature tends not to be very considerate of our plans. Have a great day!

      Kevin Graham

  27. have just started on refinance of my home, tried going through wells fargo but didn’t work out because of all the documentation they kept requesting. have been assured this will be much easier at QL. hope this is the case so I don’t have to pull my application this time. thanks philip reis

    1. Hi Philip:

      I’m confident your loan process will go well. We pride ourselves on making things smooth and easy. That said, I’m going to have one of our Home Loan Experts reach out and make sure to keep you updated.

      Kevin Graham

    2. Trust me Philip it is not easier here. I have been asked for the same paperwork over and over I am to close in two weeks and still do not have a commitment after a month. They are still asking for paperwork. Do not be fooled by “PRE APPROVAL or CONDITIONAL APPROVAL” it means NOTHING they just want you to think you are getting somewhere. Use caution spending any money on inspections or you may loose out.

      1. Hi Randy:

        We’re sorry you’ve had an experience that’s less than the best. We’d like to look into your situation and see what we can do about turning this around. Someone will be reaching out.

        Kevin Graham

    1. Hello, Diana! I’m going to put you in touch with a home loan expert from Quicken Loans®. They’ll reach out to you about your situation!

  28. I have found QuickenLoans to be a highly regarded 3rd party lender. My S&L broker was very slow to respond. You even publish letters of critics of your firm for all to see. The only complaint I have is the sub market insurance brokers trying to sell me a mortgage cancellation policy on my ( I am 85yrs old)brand new 30 year VA ReFi. Considering that the appraiser went all out to give me a 90% L to V. It should be obivious the underwriters would have killed the offer. I never could get anyone of the 6 to quote me their premium.

    1. Hi Morgan:

      We’re glad you think highly of us. We would like to look into your experience with someone trying to sell you a mortgage cancellation policy, though. A Home Loan Expert will be reaching out to you in the next day or so.

      Kevin Graham

  29. as an investor I have done 4 cash back refi’s in the last year and yes there is a lot of paper work some of it is redundant but its the same with most mortgage companies and their rates are in the ball park and had no problems with low ball appraisals.

    1. Hey Erle:

      Are you having a loan issue? You don’t have to subscribe to Facebook. We can take care of it right here. I’m going to have a Home Loan Expert reach out to you.

      Kevin Graham

  30. I started my loan process with Jake in Michigan and he was incredible. Then I was passed to o to another division and the process and paperwork has been unbelievable. They ask for unrelated financial information even want bank records of my inlaws. My down payment came from my savings account and deposited with the ritle companies escrow account, they could have simply called the escrow company to ask if the funds are there but instead i have to show them where my money in my savings account came from. Ive faxed over 90 pages of information to them. And every time I think its over i get more requests. I wven have to tell them my plans for what i will be planning to do with my current home. It has to be aigned and dated my home is not even being used for collateral. Ive gotten loans for homes cars etc. This is by by far the most difficult process to get a loan I ever have experienced. I would not recommend to anyone to use Quicken Loans®. Also i was quoted 3.5% and when the paper work came it was 3.99% which is still a good rate so I just took it. I was told they would beat the LoanDepot rate which was 3.75%

    1. Hi Bruce:

      We never want to hear one of our clients has had a less than satisfying experience with us. I’m going to pass your comment along so someone can look into your situation and reach out.

      Kevin Graham

      1. I’m starting to get discoraged with the way my refi is being handled by quicken loan reps. Seems like In house com munition needs some training, it’s been over a month now, sending e mail after e mail faxes etc. and still no closing date yet. Do you people. Have too many loans to properly work on them in a timely fashion? Let’s get with the program people. I need a closing date so that I can make some type of plan for the Christmas holiday. And not just wait on quicken every day, to resolve things that seem simple, to keep the process moving along.please look into this for me. Bob

        1. Hi Bob:

          We’re sorry to hear you’ve had a less than amazing experience. We will definitely be looking into this for you. Someone will be reaching out shortly. Have a great day!

          Kevin Graham

  31. I’m feeling more and more like I have become a victim of the bait and switch. I have read so many reviews from Quicken customers who went through very similar situations and ended up being ripped off of their deposit without ever closing their loans. As of now, I am supposedly stuck because they want the SELLERS payment history to prove that I am not related to the seller? Which I am not, by the way. Found the house on Craigslist, did a lease to own agreement. Moved in, paid my rent on time, saved my money, repaired my credit, have a good stable employment and so on. Was pre-approved without a hitch. After taking my deposit and sending an appraiser, we are apparently at a standstill because of this ridiculous request. I cannot find it anywhere in FHA documentation that this is required and the seller has been building and selling homes for years, says he has never been asked for it. I should probably cut my losses while they are small and deal with someone local and face to face. This has been a hassle and nothing more. I want my money back if I can’t get the loan. Also, closing has been pushed back and payment raised 25 dollars more already.

    1. Hi Asad-

      While I can’t comment on your personal situation without knowing more, mortgage regulations are often very complex. I can assure you we’re not trying to bait and switch you. I’m going to pass your comment along to a Home Loan Expert that can reach out to you about this in the next few days.

      Kevin Graham

  32. Mike Lyons of mortgage operations,

    Please call me about questions concerning the appraisal process. Thank you

    Amy Springstead

  33. How long can a pre approval take? Credit score shoulfd be where? Does down payment size have a bearing on a quick pre approval?

    1. Nancy-

      A preapproval doesn’t take very long at all. We just get some information from you regarding income and credit. Your credit score depends on the type of loan you’re applying for. For conventional, you need 620. FHA goes down to 580. Your down payment size may affect the amount of the preapproval, but it won’t affect the speed of it necessarily. I’m going to set you up with a Home Loan Expert that can help you get started.

      Kevin Graham

  34. Many people in this thread said many good things about QL. I am a new buyer who started the process with QL a few weeks ago. I have been in the market for a home for the last two years and have not gone this far with anyone of the lenders I talked to in the past.

    Here at QL, the people, the process and contents of the communications have been caring, efficient and respectful. Even if this deal does not go through for any reason, I will walk away from this process with the greatest sense of satisfaction and appreciation.

    I truly learned a lot and I have not felt stress and intimidation. I am having the inspection on the house done tomorrow and I am now collecting the final set of documents requested. I wish they could also refinance my Toyota Camry 2014 that I had for the last 19 months.

    If anyone is in the market to buy home, these are the people to talk to and the company to work with.

    1. Hey Belete:

      We’re so glad you’ve had a great experience with us. Sadly, we only do mortgages, but we’re glad you’ve liked everything so far.

      Have a stupendous day,
      Kevin Graham

  35. Since I have changed over to Quicken Loans®, I love the way the agents take care of you and call you in the process of when the interest rates drop. Plus no money upfront to close on a lesser interest rate. I also put my confidence in the group that handles our loan . I have been so very happy with them I will tell everyone I use Quicken Loans®. Thanks so much for having our backs on our House Loan.
    Best Regards,
    Deborah Sclafani -Liuzza

    1. Thanks, Deborah! It’s the ultimate compliment when our clients have such a good experience they want to tell everyone they know. We’re happy to have played a small part in making your house a home!

      Kevin Graham

  36. Be prepared to pay much much more in closing costs than what quicken states in the early document. They tried to scam me out of 2300.00 more than what they originally told me the costs would be. I didn’t sign. Why would I want a company that lies to hold my deed?

    1. Hey Roland-

      We’re sorry your experience hasn’t been great. We would like the opportunity to look into this. A home loan expert will be reaching out to you.

      Kevin Graham

    1. Glad to hear it, George! Your loan is in great hands! We’ll make sure to pass on your compliment to Jason. Have a great day!

      Kevin Graham

  37. The customer service at QL has been great however the title process that includes this disclosure form has been problematic. Right now this closing disclosure form is the only thing that is holding me up from closing.

    Title work has to be done then the form has to be drawn up.

    By the way it’s been presented to me that there is a five day waiting period and not a three day waiting period after I sign the form. If by some miracle the form is presented to me today then theoretically I could still close on Saturday…

    1. Hey David-

      Assuming you’re getting your documents through MyQL, it should be three business days. It’s important to note that Sunday doesn’t count and the person you talked to was probably factoring in Veterans Day as well. That said, we’d like to look into your title issues and see what we can do about getting you your closing disclosure. One of our Home Loan Experts will be reaching out.

      Kevin Graham

  38. Thank you for the information. We closed with Quicken in May 2014. It was a very easy process and I do not remember if I passed on kudos to the team at that time. We were always informed ahead of time, with clear responses to our questions (many of which now seem dumb- we were first time home owners, immigrants from a foreign country , so everything was new for us). The team led by Devin did a great job and we couldn’t be happier. Today, after nearly 18 months of mortgage payments and escrow adjustments, I can tell you that Quicken truly amazes !!

    Great going guys ! You have me for life as your customer.


    1. Thank you, Davinder! We’re glad you had such an amazing experience! We’ll pass on your compliment. Have a great day!

  39. I am petrified from reading all of these…My experience has been amazing so far and was told I would be closing this wee….now thinks seem to be changing…was just told “my loan is under final review” so what does that exactly mean??? Sounds like from what I have been reading, it means sit there and wait awhile!! Please do not tell me you will have a Loan expert reach out to me, to pacify me…
    I am really nervous – especially seeing that this is a VERY common complaint…..I have been more than thorough – even sending in more than required…..I AM EXTREMELY CONCERNED

    1. Hi Deana:

      Your confidence in us is very important. The loan process can at times be complicated, but we’re here to help you through this. Although I have every confidence things are going smoothly with your loan, I’m going to have someone reach out. We’re not doing this to pacify you. Rather, we’d like to address your concerns and reassure you that everything is going well and your loan is in good hands.

      Kevin Graham

  40. We are in the final stages of closing with our anticipated closing date on November 13th however due to a delay with the closing agent we did not receive our closing disclosure statement last Friday as expected. I was told that due to the three day notice period and the fact that Wednesday is Veterans Day that we would need to receive the disclosure statement today in order to close on the 13th. I know that the three day notice is business days but I’m a little annoyed that a federal holiday is excluded given it does not change the number of days that we have to review the closing statement but could push the closing to the next week as a result. This is probably a stupid question but do the new guidelines specifically refer to federal holidays not being counted as business days?

    Sam Eddy

    1. Hi Sam-

      Unfortunately, the guidelines specifically state that a federal holiday such as Veterans Day cannot be counted as a business day under the new regulations. You can view a presentation on the guidelines from the Consumer Financial Protection Bureau. If you’re a Quicken Loans® client, I’m also going to have a Home Loan Expert reach out to you and provide an update on where things are at.

      Kevin Graham

  41. Question, If my loan team were to provide me with my closing disclosure today 9 Nov, even with Wednesday being Veterans day, I would still be able to close on Friday November 13th per the new rules correct? 13 November was my original closing date, but last Friday I got a call saying that it would be pushed back to the 20th of November because they were waiting on an Appraisal Addendum,for a half bath that was not in the sketch but was included in all the other paperwork. Anyway I digress, now they want to close on 20 November, which is a day after my interest rate lock expires….hmmmmm. I have had great experience with Quicken up to this point and didn’t even mind having to send in letters of explanation for everything under the sun, but I am frustrated at this point, my loan is in final review. I’m just curious about the 3 day thing. Thank you

    1. Hi Rebecca,

      Because it’s a federal holiday, Veterans Day doesn’t count as a business day under the new regulations even though we’re open. It sounds like the timing issues may go deeper than your disclosure period, so I’m going to have one of our Home Loan Experts reach out to you. I’m glad you had a good experience with us thus far. We’ll make sure everything stays on track. 🙂

      Kevin Graham

    1. Good morning Michael:

      We’re sorry you feel your loan process is moving slowly. I’m going to pass your comment to one of our Home Loan Experts so they can look into the issue and get back to you. Have a good day.

      Kevin Graham

  42. I been have a process with QL for the last couple months I suppose to close on Friday Nov 06,I up everything go well this time,to tell you the thru the staff all nice,love to work with them,thank you ,Sydney,Dominique,Dave,and alex,the always be there for you went you need them thanks QL.

    1. Good morning, Rene:

      We’re glad to hear you’ve had such a good experience with us so far. We’ll make sure the team hears your kind words. Your loan is in good hands and I’m sure you’ll close on time, but I’m going to have one of our Home Loan Experts reach out to you and provide an update. Have a great day!

      Kevin Graham

  43. When I started my process, I didn’t think it was going to work.
    I had tried so many different banks, but I didn’t have any luck. I called and spoke whit Jacob Lakritz and when he promised he was going to do his best to help me I thought to myself that there is no chance, but it wouldn’t hurt to try. After couple of hours he called me back with already good news. I had such a difficult case and therefore I thought it was never going to work. However, Jacob is a fantastic banker, he and his team are absolutely amazing. He is very responsible and a great communicator. There have been many times that I called him several times a day and he always responded within a very short time.
    I absolutely recommend Quicken Loans®, especially Jacob Lakritz and his team including Gabriela, Craig, Zach and Sharon.

    Thank you

    Tamara Avetisyan

  44. I am getting my second mortgage with Quicken in 5 months. The process is a little different than what we normally see, but much better. Dates were not delayed, everyone was completely above board with me. All questions were addressed the same day, if no immediately. Closing went without a hitch..

    1. Hey Sean:

      So far, closings with TRID have been going very smoothly. Everyone involved just has to make sure the stay on top of things. We can have someone reach out and update you on your loan process.

      Kevin Graham

  45. Ed Delbeccaro and Joel Frazee at Quicken Loans® have been a pleasure to work with, highly experienced and recommended to get your mortgage done thanks guys for the smooth mortgage process thus far.

  46. My husband and I have purchased and refinanced a few homes over 42 years. We refinanced a home loan last February through Quicken. Quicken Loans® was by far the easiest loan process we have ever encountered. Shortly after refinancing, we purchased a rental house through a different lender. I wish we had gone through Quicken for the rental property. The other lender was frustrating in all the documentation they required. They constantly requested documents which delayed the process. The people I dealt with at Quicken were friendly and helpful. I always received a quick response to questions.

    Quicken’s online payment system is very simple as well. I love it. Just a few clicks and the payment is made. Very easy. I highly recommend Quicken Loans®.

    1. Hey Sharon:

      We’re sorry to hear about your experience with the other lender. We’re glad to hear your experience with us went so well. If you need a mortgage in the future, you know where to find us!

      Kevin Graham

  47. I refinanced with Quicken last December, and couldn’t believe the negative comments posted. They did exactly as they said, and closing was quick and easy. Nothing was changed secretly. I highly recommend Quicken Loans®, and certainly would use them again. The new way seems like it will make things easier for the consumer to understand, and the “old” way worked perfectly fine. None of my personal information was in anyway compromised. They saved me $250 monthly off my previous mortgage payment, which I now can use for something else!

  48. To whomever,I started this process 1st week of Oct..Are in final stages of underwriting review,had to send Quicken 2 letters of explanations ,had to have wood rot and door frame painted and reinspected,for FHA loan.Had to do 3 way call with current mortgagee,the process can be challenging,then I wanted to make some changes and dealt with the banker who started the whole thing.That being said I believe Jennelle,Jammar,and any other Quicken employees have done a above and beyond job duty.I hope to close by mid next week.If I could afford it I would give them a Fat Raise! I will recommend Quicken Loans® to everybody.Process is grueling but well worth it in the end.Best of Luck to All !

    1. Hi Tom:

      I’m sorry for the delays in your loan process. We’d like the opportunity to look into this and get things turned around. I’m going to send your comment to one of our Home Loan Experts.

      Kevin Graham

  49. These comments have me wondering about my loan now , I was suppose to have closed on the 14th of this month and still nothing yet

    1. Jamie-

      We’re sorry to hear about the delays in your loan process. I’m going to pass your concerns onto one of our Home Loan Experts to look into in the morning.

      Kevin Graham

  50. Previous comment… email was wrong – spell check changed it to paganism@me when it should be haganism@me and I didn’t see it until I hit the submit button. I feel the comment is worth posting.

  51. It’s unfortunate that almost all comments posted here are negative. I have dealt with other mortgage companies, banks, etc on several properties and not once have I experienced the prompt response, knowledge and polite customer service as I’ve had with QL. I understand that depending on the financial standing of the borrower can often complicate the process including titles, liens, etc which is no fault of the QL staff. The loan and closing process can be complicated or it can be simple based on the previous lender, loan to value ratio, etc. but I can assure anyone who questions using this lender that this is by FAR the best experience I have ever had. The numbers are correct, the closing costs are fair, the rates are great, the time to close was awesome (closing tomorrow – already received call from closing agent for final directions to my office) and I’ve never felt better about such a huge investment in my life. Even my first home purchase years ago which was only a $14,000 starter… QL has this process down and deserves someone to chime in and give them feedback they deserve as being a top shelf group who do their job, do it well and have yet to drop the ball on me once. I’d do it again in a second.

    1. Kevin-

      We appreciate the kind words. We’re glad you had such a great experience. Have a great day!

      Kevin Graham

  52. I wish I had read the comments prior to starting this process. However, most of the set backs to ours was unavoidable things. I have a friend going through the process through a local company and hers has been no easier. Actually, I have found everyone at quicken to be helpful and have loved the team that we are working with. However, we are supposed to close Friday the 23rd so we will see if it happens. Not sounding promising after reading all the comments. If it happens I will give positive feedback and hope to others. Good luck in the home buying process.

    1. Misty-

      The mortgage process can be complicated, but we hope to make it as smooth as possible. We’re glad to hear you’ve had a good experience with our team thus far. Your loan is in good hands, but I’m going to have a Home Loan Expert reach out to you with an update.

      Kevin Graham

    2. Misty-

      Congratulations on closing your loan! We’re very happy for you and glad we could help!

      Have a great day,
      Kevin Graham

  53. Getting a little nervous, everything started smooth have a few hiccups but still praying it will all be great in the end! I have to say my team is excellent, David Estes and A J are great and really have been a pleasure to work with!

    1. Deb-

      We’re glad to hear you’ve had a great experience with our team. We would like to make sure everything is on track and get you past the bumps in the road. I’m passing your comment along to our client relations team. Have a great day!

      Kevin Graham

  54. Thanks Quicken Loans®, Steve, Marcus, Kevin, Gabrielle and especially Ashley! I know I needed a little had holding through this process and I appreciate that you guys were all there for me and my husband.💝

    Susan Tront

  55. My initial contact was made on Oct 9 and a follow-up on Oct 13 to start the loan process. I have to say things are scary and a 30 year/fixed rate has been promised to me as well. I’m doing a VA loan so there are some additional step I am required to do in the process. I haven’t really had any surprises except them wanting a copy of my divorce decree? I complied. I don’t want this process to stretch out into a two to three month ordeal. AND I certainly don’t want to run into any unexpected costs at the end. Can someone give me an idea of what other costs came up at closing?

    1. Hi LaTina-

      The mortgage process does require us to gather lots of information from you. As far as closing costs, these are very limited in the ways they can change from the initial Loan Estimate and some things cannot change at all. Third-party costs (things like appraisal, taxes and insurance) may go up as much as 10% from the initial estimate. I’m going to pass on your comment to one of our Home Loan Experts and have them reach out to you. Have a good day!

      Kevin Graham

  56. My experience is becoming more unmanageable everyday!!! Everything’s changed from kind of loan to how much I need closing dates everything I am about feed up but I do not wanna start over but it seems that’s what I am gonna be made to do! My loan be processing since 8-29-2015 and has never closed I have paid for inspection twice because they expire rediculious!

    1. Good morning, Renee. I’m so sorry to hear that you’re having a poor experience. I’m going to have our client relations team reach out to you to get some more details.

    1. Hi Susan-

      It’s understandable that you would be nervous in dealing with such a big financial transaction. If you’re currently in the process of getting a mortgage with us, be assured that one of our Home Loan Experts will be there to help walk you through any questions or concerns you might have. I’m going to pass your information on to those experts and someone will reach out to you.

      Kevin Graham

  57. I had some concerns along the way, but as long as I compiled with what was needed (honest, question asking people) things went smoothly. It pays to be organized wehen going through the process. The loan was started with Nick Dunford and end with Martin Wisor with several team members to answer any questions along the way. We are better off in the long run and am blessed they were able to help. Our loan was disbursed today.

    1. Hey, James! We’re actually a mortgage company called Quicken Loans®: America’s number 1 online mortgage lender. If you’d like some more information about us, please let me know! Have a nice weekend.

  58. I start my process the end of August and still no closing!!! We were promise to close everything by the end of September. Well we are already in the middle of October and no answer ,so I decide to call NDia Brooks today. First she promise to call me last Friday never happens!!! I was told today that everything is good to go but y,ou known what? I do not believe that is going to happen because she can’t give a strait answer.So sad! I wast my time for nothing.i have a felling that because we have the rate until the 20 of October so the closing will probably happen after that. Got news for you in our end is not. I call her and told her that you can keep the 500.00 because we are done. Just found out from my Morgate company today that she never request a pay out! Why lying? The last information on my profile post on October,8th was that they already start the pay out Really? I hope I have the answer in 2 days because if not we are going to refinance with our Morgate company.

    1. Good morning James,

      We’re sorry you’re having trouble with your loan process. We’d like the opportunity to look into this for you and get everything back on track. I’m going to pass on your concerns to one of our Home Loan Experts who will be reaching out to you shortly.

      Kevin Graham

  59. The problem with Quicken is they jump in and get your business and then when the loan amount and payment are displayed, it is different than what you were told verbally. I was quoted a 30 year fixed loan over the phone. When I got the form showing the breakdown, I noticed it was a 5 year arm/30 years. I know what I was told, but what can you do. I’m already going up $300 a month on the payment. Now, if I got the 30 year fixed it would be $400 more a month. They escalate it, but it is just some one who tries to call you and calm you down. They can’t change it. So, you either go with them or move on. There have been several issues with my loan process and I am not happy with it. They want a letter on everything you have ever done. I would not recommend them to anyone and I would want in writing what you were quoted verbally.

    1. Hi Kim-

      We’re sorry your experience with us hasn’t been the best. We would like the opportunity to look into your situation. One of our Home Loan Experts will be reaching out to you shortly.

      Kevin Graham

  60. What are my final closing costs? I understand my appraisal will be part of it. I have also heard of some surprising costs at the end too. We are refinancing for a reason and extra cost won’t be beneficial for us.

    1. Hello Robert:

      Depending on when you applied (before or after the new regulations went into effect), your loan costs are limited in how much they can change or may not change at all. What can change are third-party related costs such as title insurance and appraisal costs. You can find more information in my post on closing costs and how to keep them down. As to your question on your personal closing costs, I’m going to pass along your information to one of our Home Loan Experts to look into your situation.

  61. I don’t trust none of my personal business being out here like this!!! I hope all of this is secured! I got started 4days ago but haven’t heard back from the guy I originally spoke with named Dave Wimbiski or something like that I don’t think I should have went this route its scary! I like talking and dealing with people in person and I wonder what kinds of interest are on these loans and too I don’t want to pay on nothing for 30yrs cars cost more than some homes and the longest you’ll pay is 6yrs I never understood that. The present home I stay in now was paid in 15yrs! And that’s what I want again if that’s not possible I can’t do business

    1. Hi zelka-

      The mortgage process can be somewhat scary. We understand that you’re putting a lot of personal information out there. We want you to know we take the security of your information seriously and your information is handled with the sensitivity it deserves throughout the process. I’m going to pass along your concerns with your loan process to one of our Home Loan Experts. This is a big financial transaction and we want to make sure all of your questions are answered.

      Kevin Graham

  62. I digitally signed my loan application in September and have been sending all requested info and documents since then. Now Quicken Loans® is asking me to fill out a new application and no one can tell me why. Is this common? How will I know I’m not signing something that has changed since our original agreement? This makes me uncomfortable.

    1. Good morning, Linton. We certainly don’t want you to feel uncomfortable. I’ve sent your comment to one our client relations specialists, and they’ll be reaching out to you. We’ll figure this out.

  63. I am not to happy about my loan process as things are not happening the way I was promised in the begining of the process. Now we are in the closing process and I’m not happy.

    1. I’m so very sorry to hear that, Jerry. I’m going to have one of our client relations specialists reach out to you to get some more information. They’ll send you an email. We’ll get to the bottom of this together!

  64. We started our process on 19 Sep, and have completed one appraisal, but don’t know that these forms pertain to us. How long should the full process take if everything that is required digitally as well as mail/fax receipt has been completed? Thanks.

    1. Hi Debbie-

      Since your loan process started before October 3, the new regulations don’t apply to your loan. You shouldn’t have to worry about the timing. Have a good day!

      Kevin Graham

    1. Hey Yoli:

      If you started your loan process prior to October 3, it goes forward under the old process. That said, if you’re working with Quicken Loans®, we strive to make our communications as clear as possible. If you ever have any questions, our Home Loan Experts will be happy to help!

    1. James-

      I’m going to have one of our home Loan Experts reach out to you to get some more information. Have a great day!

      Kevin Graham

    1. Fred-

      If you’re ready to fill out the full application, we can do that. I’m going to pass this along to one of our Home Loan Experts to help you get started.

      Kevin Graham

    1. Hi Callie and Bryan,

      We’re going to pass your question on to one of our Home Loan Experts and they’ll be getting in touch with you.


    1. Hi Johnny,

      It depends on whether the forms are mailed or received digitally. If you acknowledge receiving your Closing Disclosure digitally, lenders can close on the third business day after you receive the forms. For example, if the disclosure is received and acknowledged on Monday, you can close on Thursday. Saturday also counts as a business day for Quicken Loans®. If your closing disclosure must be sent in the mail, the lender must wait to close until one week from the day it is sent (i.e. sent on Monday, close the next Monday).

      If you get your documents digitally, it’s important to acknowledge receipt. The three-day clock can’t start until the receipt is acknowledged. By acknowledging that you received the documents in a timely manner, you’ll be able to close without delays. Hope that helps!

      Kevin Graham

    1. Hi Paula-

      You’ll see the documents at least three business days prior to your closing. If you receive the documents digitally, be sure to acknowledge that you’ve gotten them in order to close without delays. Hope that helps!

      Kevin Graham

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