YOURgage loans: Short for “your mortgage,” YOURgage is a program offered exclusively by Quicken.Jumbo loans : Large loans (up to $3 million) are available if you want to buy a home over the conforming loan limits.Department of Agriculture and offer 100% financing on homes in rural areas.
USDA loans : Quicken Loans also offers USDA loans, which are backed by the U.S.Veteran Affairs Department are on-offer and provide veterans with as little as 0% down on a home. FHA loans : Home loans backed by the Federal Housing Administration are available and have flexible loan requirements with down payments as low as 3.5%.Fixed-rate mortgages: A fixed-rate mortgage has an interest rate that stays the same for the entire length of your loan.Quicken offers five-, seven-, and 10-year options with as little as a 5% down payment required. Adjustable-rate mortgages (ARM): ARMs start out with a fixed interest rate which converts into an adjustable rate after a set amount of time.Here’s the rundown of Quicken’s loan products: It relies on technology to speed up the lending process and generates huge profits through smaller margins and huge scale.” Quicken Loan Products The first segment includes companies that serve the prime conforming market and compete with banks. Chris Aldridge, a representative from DRI Fund, says, “There are two emerging segments for non-bank lending.
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