Overall
All categories considered, we can safely recommend Quicken Loans as a fantastic option for your home equity loan lender. With a great reputation in the industry, acclaimed customer service, low rates and flexible borrowing limitations, this company is likely to have the loan option you're looking for.
Closing Costs
Closing costs and fees through Quicken Loans are about average as far as home equity loans go. With fair interest rates as well, this is an inexpensive option for homeowners who qualify.
Loan Variety
Quicken offers homeowners two term options for their home equity loan: 10 and 20-year terms.
Borrowing Limits
Borrowing limits through quicken are average; their maximum hovers around $350,000 currently, depending on what you qualify for. As many homeowners take out home equity loans in order to pay off remodeling projects or pay off higher interest debt, Quicken's limits are likely more than high enough.
Customer Service
Customer service is one of Quicken Loan's top priorities as a lender. Along with their convenient online application process, they offer assistance over the phone or via chat at any time. Homeowners around the country rate this company highly in this category.
Fair Credit Score Suitability
Minimum Credit Score: 680
Homeowners with moderate credit scores can qualify for a loan through quicken, but if your score is any lower than 680, you may need to look elsewhere.
Higher Credit Score Suitability
The better your credit score, the better your interest rate. Quicken Loans is applauded for its customer service and loan options, and the potential for low interest rates is just another reason for homeowners with high credit scores to give this lender a try.
