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      07-07-2017, 06:34 PM   #1
dzvero
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Thumbs down Are you kidding me quicken loans?

Are you kidding me ? I applied for million dollar loan and all I got is 25 ?

Congrats! You have qualified for a $25 Prepaid Card!
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      07-07-2017, 06:50 PM   #2
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      07-07-2017, 06:59 PM   #3
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25 mil sounds good
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      07-07-2017, 07:17 PM   #4
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      07-09-2017, 07:43 PM   #5
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Maybe you didn't do well in the essay section where it asks you to clarify purpose and intent in writing.
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      07-09-2017, 07:49 PM   #6
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Numbers.
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      07-09-2017, 08:02 PM   #7
dzvero
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I did speak with "agent" . He told me they require 6 mo of funds to pay the loan+insurance+tax. after I applied it turned to 12 months for 20% down and 18 for 15%. WT freak , will never consider them again. If you are not honest upfront dont expect me to be your customer. And Ill take the 25 bucks.
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      07-09-2017, 08:08 PM   #8
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Is this real life
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      07-09-2017, 08:11 PM   #9
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Was this a mortgage or personal loan?
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      07-09-2017, 08:59 PM   #10
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OP: You either qualify or you don't... !

Not in his eyes... $25 is a nice gesture.

12 months in reserves is normal for any mortgage.

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Originally Posted by 1MOREMOD View Post
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      07-09-2017, 09:28 PM   #11
tdott
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Whats your credit score?
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      07-09-2017, 09:54 PM   #12
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Quote:
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Whats your credit score?
25
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      07-10-2017, 12:36 AM   #13
dzvero
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Quote:
Originally Posted by ORIGIN M. View Post
12 months in reserves is normal for any mortgage.
If they require 12 he should said 12, not 6
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      07-10-2017, 01:46 AM   #14
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Quote:
Originally Posted by dzvero View Post
If they require 12 he should said 12, not 6
It depends on the loan type and 1 million is a jumbo loan so I am sure there are lots of prepaid reserves. Maybe reduce your loan amount...
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      07-10-2017, 02:19 AM   #15
dzvero
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I told him all info including purchase price target, down payment , how much I have cash, 401k , income etc, He was just not honest trying to hook me up.

Last edited by dzvero; 07-10-2017 at 02:24 AM..
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      07-10-2017, 08:03 AM   #16
tdott
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Quote:
Originally Posted by dzvero View Post
I told him all info including purchase price target, down payment , how much I have cash, 401k , income etc, He was just not honest trying to hook me up.
Maybe when he pulled your credit score they found info that doesn't qualify you for the rates he thought you would get based on the information you provided.

What he discussed before hand is all BS to get your business, it's what your credit comes back what that matters, creditors will have their own terms based on your personal circumstances.
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      07-10-2017, 11:17 AM   #17
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Quote:
Originally Posted by dzvero View Post
Are you kidding me ? I applied for million dollar loan and all I got is 25 ?

Congrats! You have qualified for a $25 Prepaid Card!


Just try a different lender. Make them fight for your business.
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      07-10-2017, 02:17 PM   #18
dzvero
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I explicitly asked for the policy and he was firm on 6 months and then - "O , sorry its our policy..." Im sure he knows his policy very well. Yes its BS to lie about these things. I have perfect scores and ratio and history. I told him all about it cuz I know these scores etc. Thats why I moved to another lender who was honest upfront and so far he gives me better deal anyway.
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      07-10-2017, 02:27 PM   #19
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Quote:
Originally Posted by dzvero View Post
I explicitly asked for the policy and he was firm on 6 months and then - "O , sorry its our policy..." Im sure he knows his policy very well. Yes its BS to lie about these things. I have perfect scores and ratio and history. I told him all about it cuz I know these scores etc. Thats why I moved to another lender who was honest upfront and so far he gives me better deal anyway.
Some people in the industry are just plain idiots, pray that you never have to get a loan in Florida. They have the worst rep for being incompetent.
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      07-10-2017, 03:46 PM   #20
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Uh, I suppose it is really nobody's business but you posted openly so I just got to ask. You have an M4 and are trying to purchase a million dollar home and don't have 12-18 months of payments in the bank? Even if taxes and insurance are insanely high that's like 120-180k.
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      07-10-2017, 05:58 PM   #21
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Quote:
Originally Posted by 1MOREMOD View Post
Is this real life
Doesn't seem like it.
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      07-10-2017, 06:00 PM   #22
dzvero
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Uh, it makes difference between 6-12-18 right? If they require 6 ill put rest as down payment - is that too hard to understand
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