Quicken Loans’ YOURgage Puts Clients in Control of Their Mortgage

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New program allows clients to decide on a mortgage term to match their financial goals

"This is a convenient way for clients to truly be in the driver’s seat when it comes to their mortgage," said Bob Walters, Chief Economist at Quicken Loans.

Quicken Loans Inc., the 50-state lender of refinance and purchase mortgages, today announced the launch of YOURgage: A mortgage on your terms. The program puts a unique spin on conventional fixed rate loans by allowing clients to determine the length of their home loan by choosing a term between eight and 30 years.

Quicken Loans, the nation’s largest online retail lender, designed the program to be a valuable tool for clients as they work to achieve their financial goals.

“As long as I can remember, home owners have been forced into a 30- or 15-year mortgage, whether those terms suited their needs or not,” said Bob Walters, Chief Economist at Quicken Loans. “The YOURgage program allows clients to choose the exact number of years they would like to pay on their home loan. Retiring in nine years? YOURgage is a nine-year loan. Want to pay exactly $1,360 per month on a $200,000 loan at five percent? Choose the 19-year YOURgage and pay the loan off in 2030. This is a convenient way for clients to truly be in the driver’s seat when it comes to their mortgage.”

Quicken Loans’ YOURgage program helps clients who want to build equity in their home, who want stay on track with their current term post-refinance, and those who prefer structure to achieve their goals. For more information about YOURgage, visit QuickenLoans.com and review term and payment scenarios with the exclusive YOURgage calculator.

About Quicken Loans Inc:
Quicken Loans Inc. is the nation’s largest online retail mortgage lender and among the five largest overall retail home lenders in the United States. The company closed a record $29 billion in retail home loan volume across all 50 states in 2010, and recently closed its 1 millionth loan. Quicken Loans employs approximately 3,700 team members and generates loan production from five web centers located in Michigan, Ohio and Arizona. The company also operates a centralized loan processing facility in Michigan as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power and Associates for 2010. “QuickenLoans.com” has been named “Best of the Web” by Forbes and Money magazines. The company also has been named to FORTUNE magazine’s list of the country’s “100 Best Companies To Work For” eight consecutive years, ranking as high as #2, and named in the Top-15 of Computerworld magazine’s “100 Best Places to Work In Technology” for six years in a row. Quicken Loans ranked #1 in the Detroit Free Press’ ”Top Workplaces of 2010” List. The company recently moved its headquarters and 1,700 of its 3,700 full-time team members to downtown Detroit. For more information about Quicken Loans, please visit http://www.quickenloans.com.

About Rock Holdings Inc:
Rock Holdings Inc. is the parent company for several financial services-related businesses and employs over 4,000 team members. These client-focused and technologically driven companies include Quicken Loans, the nation’s largest online home lender and One Reverse Mortgage unit, the fastest growing reverse mortgage lender in America; Title Source, a nationwide leader of title insurance and settlement services; Quicken Loans Mortgage Services (QLMS), a mortgage origination platform servicing community banks and credit unions across the country; In-House Realty, the preferred real estate partner of Quicken Loans that matches clients with trusted real estate agents in all 50 states; and, Quizzle.com, the online innovator and website where consumers manage their home, money and credit. Rock Holdings, Inc. also recently moved its headquarters to downtown Detroit.

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Victoria Araj
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