The Federal Housing Administration insures mortgages, which makes it easier and more affordable for people to buy homes. That’s good. Quicken Loans happens to be an FHA lender, which is also good. What’s kind of confusing, though, is how the web page where you start your FHA loan application explicitly exempts FHA loans. Sort of.
Here’s a current screen shot of the page that reader Lee sent us.
Lower on the page you see this:
“No FHA, VA or Jumbo Products,” it says in small gray type.
“This is their webpage for FHA mortgage refis, like it says in the headline,” writes Lee. “But at the bottom of the page, it says this product is not available for FHA loans. Ooops.”
The clue may lie in the asterisk: this is clearly a disclaimer for something, but there’s no asterisk on the FHA loans page. Most likely, it’s a remnant from a different page on Quicken’s site that did have an asterisk and did have to explain that a great rate excluded certain kinds of loans.
We contacted Quicken to find out what’s up, and will let you know when we hear back. Quicken got back to us, well, quickly. They were glad that Lee was able to catch the error, and sent us this statement:
Wow, great catch. Rest assured, any client entering the site looking for information on FHA mortgages, or any of the others mentioned in that misplaced sentence, will be sure to receive the same amazing client service that has earned Quicken Loans the J.D. Power and Associates award for having the Highest Customer Satisfaction for Primary Mortgage Origination in the U.S. – three years in a row. That said, we are working to have that errant information removed.