Quicken loans 2% grant first home buyer

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Quicken loans 2% grant first home buyer

Hunter Byler
Houston, TX · Member since 2016 · 24 posts · 4 votes
Has anyone ever heard of quicken loans giving the buyer a 2% grant to use towards a down payment? This is for first home buyers and you have to take a first home buyer course online and have a FICO score of 680+. Just curious if anyone has experience with this and how the overall process went? Thanks!
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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y

Never heard of it....but even so I would not use it even though it sounds great. They are perhaps the worst lender in the market place.  While this sounds like a good deal...I bet they just build it into the loan with a higher interest rate or higher closing costs...which would be hard to do since they have about the highest rates and costs around.

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  • John D.
    Rental Property Investor · Allentown, PA · Member since 2016 · 279 posts · 105 votes
    10y

    Thanks for the insight on Quicken.  I was actually considering them for my financing needs but red flags went up for me when they would not put anything they quoted me verbally on the phone into an email.  

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  • Hunter Byler
    OP
    Houston, TX · Member since 2016 · 24 posts · 4 votes
    10y
    John Daniello Yeah they wouldn't put up the loan estimate and closing cost break down until I called to ask. They were very quick getting back to and seemed knowledgable though.
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  • Stephanie MedellinBusiness Member
    Mortgage Broker · CA · Member since 2014 · 1k+ posts · 644 votes
    10y

    @Hunter Byler  I got a response back yesterday from the representative at Quicken but he said he wasn't aware of any programs offering 2% grants to buyers.  Did you see this on the website somewhere or were they advertising it?

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