I am a first time home buyer and for people like us information is in-valuable. Thats why i am posting this report.
Long story short "Quicken Loans" is not to be trusted in anyway, they talk sweet and tell you they will turn the world upside down to get you a home and when you are all elevated and emotionally excited, they will use their sneaky sales tactic to get the $500 from you stating that its just a deposit and it will be returned blah-blah.
You get a login and you see the process proceeding on your quicken loan home page. Days go by and you are all smiles as you see the status turning from 1-2-3, somehow after that it gets stuck at 3. The dreaded 3; the so-called Approved with conditions stage of the loan. Well, its simple out of all the conditions there, i feel this: "Subject Property is not apprised for an amount not less than $" is the most trickiest one of all. You will definitely get stuck here, one fine day they call you up and say that you got to bring more money to the table to close because "unfortunately" the appraised value of the home you want to buy has fallen $K short of the purchase price. Ok, you tell them, i cant bring so much money; then you're in for a mental agony ride. One thing leads to another and your already short sleep becomes even shorter. They act as if you owe them money and they do not owe you anything. I pleaded, literally pleaded because like most home buyers every penny is valuable but they did not budge. Where is the justice???
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