It seems to be more about the process than offering the lowest price. As for whether that means you’ll land a lower interest rate is another question. In the case of a 200,000 mortgage loan at a 3.99 fixed APR and a. You can get the following mortgage terms from Quicken: 30-Year Fixed Mortgage Rates: This mortgage term will keep monthly payments low. The company’s latest venture is the so-called Rocket Mortgage, which relies on technology to speed up the loan process. Quicken also offers three different types of mortgage terms to fit every budget and every family’s needs. *As with any product review, contact the company directly to ensure the above is still accurate, as terms change constantly. The rates shown below do not include Investor Advantage Pricing discounts and are based on a 975,000 loan and 60 LTV for Jumbo and 250,000 loan and 60 LTV for Conforming. I’m not a big fan of gimmicks, and prefer to stick to the lowest combination of rate and fees you can get right now, not what you might be able to get in the future if something happens.
But the chance of mortgage rates going any lower, at least significantly, is probably doubtful, given they’re at historic lows.Īnd not everyone wants to serially refinance – some people are actually looking to gain home equity and pay off the mortgage.Īdditionally, it always pays to shop around to ensure you get the best mortgage rate, instead of picking one company for a feature you may or may not actually use.įor example, you might get saddled with a higher interest rate initially and never ever refinance, thereby just pay more for the many months or years you hold your mortgage.
If you’re going to refinance with Quicken Loans anyway, it’s a cool feature.