- Report: #1319725
Complaint Review: quicken loans - detroit Michigan
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quicken loans
1050 Woodward Avenue Detroit, MI 48226 detroit, 48226 Michigan, USA
Web:
http://www.quickenloans.com/about/contact
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quicken loans fraud detroit Michigan
in april 2016 my son in law and i were looking to purchase a house. we contacted quicken. who preapproved a loan for 75,000. then the problems began. we got a real estate agent and went looking for houses. then we were told that they would only preapprove $72000. and we needed $1600 for an FHA mortgage. we found a house and began negotiating. my son in law signed a contract with quicken who wanted $400 for appraisal and fees. the fees were never itemized. next we were told we needed a home inspection. and a closing date was set for the end of june 2016. we paid $650 for a home inspection, pest and radon inspection. then were told by quicken we needed $2800 to close. a new closing date was set for july 18th 2016. the appraisal was done 2 weeks prior to the 18th. and quicken claimed it was $9000 less than the sellers listed price of $67,500. the seller no longer wanted to pay 6% of closing. so we were told a new contract needed to be worked on. no new contract was forthcoming. but the seller offered to pay $2300 of the closing costs. to which quicken then told us we needed $3800 to close. a week later thry claimed we needed $4800 to close. they set a new closing date of august5 2016. then a week before this date they started to question my son in laws work history. they also told him 1 month ago he needed home owners insurance which he got. then quicken claimed his debt to income ratio was too high after getting the insurance. this week july 27 2016, they claimed his debt to income ratio was too high. i used the FHA calculator and found it was only 36%. they claimed it was too high for an FHA mortgage. finally they claimed since his verified work history was less than 2 years. they were denying the loan. after we spent over $2500. onb something we never got.
1 Updates & Rebuttals
FloridaNative
Palm Beach Gardens,Florida,
USA
Go to another lender, not a big box bank
#2Consumer Comment
Sat, July 30, 2016
Quicken Loans does not train their loan officers. Go to a mortgage lender that only does loans - not a big box bank and not Quicken.
Also their guidelines for FHA are much more strict at Quicken Loan and at big box banks. Get a referral from your Realtor for a decent lender.
