I recently contacted Quicken loans for a refinance with cash out. They asked me to put up a good faith deposit of 400.00. Since, I was trying to get cash out, this hurt a little. Everything was fine, until they sent their appraiser out. she appraised my house for 20, 000.00 less that the appraisal done 3 years ago. I realize the real estate market is down and I could have accepted 10, 000 less but 20!!! She appraised my house for less than any house has sold for in my neighborhood, so she did the comps in an entirely different neighborhood!!! She was not from my city when there are 100's of appraisers available. When I pointed out to quicken that the comps weren't in my neighborhood, they said it was done and nothing they could do about it. Oh and the good faith deposit? gone used on their wonderful appraiser. BEWARE. Stick with local companies and word of mouth.

After you send them an initial $500 they never finish your investigation or application.they will always need something else faxed to them. It will eventually cost around $800 to do business with them and then a whopping $5000 closing cost. Stay away from them.

Avoid this company! Dont waste your money. They refuse to refund even when the appraisal is clearly faulty. They hire incompetent appraisers who are unfamiliar with your housing market. Suspect the 'lender financed PMI' is a big source of income from them. Thus their motivation to get a low appraisal.
Assessor was so incompetent she appeared to be assessing the wrong house. Had features incorrect (i. e. Said we had a fiberglass shower insert in the master bath when we have a full tile walk in shower). They allowed comps that were clearly not comparable homes (compared a house 21 years old to our 8 year old home, yet ignored actual comps in our neighborhood) Randomly assigned a per square foot price significantly lower than the comps despite noting that our house had a 'like new feel' and was of a high quality. Quicken refused to have it reassessed despite the outrageous appraisal.

Looking into refinance of a home and call them. Was told after giving information I was approve. I said how come so fast and was told credit report they looking at. Told they needed credit card but would not charge if I did not like the loan or something came up that they could not give loan. They gave me a good faith report and it look good. Got a letter of how much I was taking out on loan and shock to see to much. Contract them and they gave me the run around and finally I need to see why they posted it on their website. It was a need Good faith statement with $2200 more on fees for discount fee. I said never was told that I have way over 20% down on what home is worth and never anywhere you said it be more. I said not taking loan and they told me well then we posted another statement for you to look at. I went up on website and it was a interest and deposit statement and that they taking my $500 on credit card. I check credit card and sure enough they charge this on March 17, 2009. I got this interest and deposit statement which I printed that is dated for March 28, 2009. Call them and they said sorry it happens but he put me on hold and came back and said if I sign the loan they give the $2200 back in cash since loan papers are made out. I said want that in writing and they could not do that so I told them no way it would be he said and she said. Made a complaint with BBB and it showed 627 resolve with a b+ rating. BBB said they sent a report to them but when I went back to check the complaint on BBB it shows now 700 and all resolved. Makes me wonder about BBB..After typing in quicken loans complaint on internet many lately is getting the same thing they keep the $500 then change everything...

This Company should not be allowed to stay in business, and continue to cheat people out of their money. I lost 375.00 "good faith" upfront deposit to these scammers. I applied for a "refinance" to my existing mortgage for a lower 15 year interest rate than my present one. The 375.00 was an appraisal/application fee which Mr. Brian Pientowski at Quicken Loans said he would "roll over" into the closing costs. The only thing that got rolled over was me! The loan did not go through because the appraisal was lower than anticipated. He did not tell me upfront, that this might happen. (Of course, why would he? I might not apply for the Loan? ) I should have known better. I will be filing a complaint with the NYS Attorney Generals Office. Don Sawyer, Rochester, NY