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Quicken Loans is a Detroit-based mortgage lending company founded in 1985 by Dan Gilbert. The company is currently known as Rocket Mortgage after rebranding in 2020. Quicken Loans/Rocket Mortgage is one of the largest online mortgage lenders in the United States, with a focus on making the mortgage process faster and more streamlined for borrowers. The company offers a wide range of mortgage products, including conventional, FHA, VA, and jumbo loans. They also offer a variety of tools and resources, such as mortgage calculators, educational materials, and mobile apps, to help borrowers make informed decisions about their home financing options.

Quicken loans mortgage

Quicken Loans (now known as Rocket Mortgage) offers a variety of mortgage products to help individuals finance their homes. Some of the most common types of mortgages offered by Quicken Loans/Rocket Mortgage include:
  1. Conventional Loans: These are mortgages that are not insured or guaranteed by the government. They typically require higher credit scores and larger down payments than government-backed loans.
  2. FHA Loans: These are mortgages that are insured by the Federal Housing Administration (FHA). They require lower down payments and credit scores than conventional loans, making them a popular choice for first-time homebuyers.
  3. VA Loans: These are mortgages that are guaranteed by the Department of Veterans Affairs (VA). They are available to eligible veterans, active-duty service members, and their spouses, and they offer competitive interest rates and flexible qualification requirements.
  4. Jumbo Loans: These are mortgages that exceed the limits set by Fannie Mae and Freddie Mac for conventional loans. They are typically used to finance higher-priced properties.

In addition to these mortgage products, Quicken Loans/Rocket Mortgage also offers refinancing options for individuals looking to lower their monthly payments or shorten their loan term. They also offer a variety of tools and resources to help borrowers understand their options and make informed decisions about their home financing.