My experience with Quicken Loans was a waste of time. After spending hours on the phone and dealing with documents I had to withdraw my application. The promise of the agent was for an easy and quick closing with no surprises. The surprises actually occurred after I downloaded my pay stub and W2 form. They wanted more and more documents and some of them did not make any sense.
So, first of all the agent offered me a 30 yer loan which would take me back to the first year into paying more interest than a principal and refinancing would not make any sense.
After calculation, I decided to do 20 year loan. The agent rolled my escrow in the amount of the loan which would make my payment higher.
At the end though the closing cost was suppose to be zero, according to their promise, the documents that the loan officer prepared for me to sign was almost $8000.
Honest, fair, just and ethical business should be the credo of all financial institutions.