Consumer complaint received 2021-07-07
Company: Rocket Mortgage, LLC
State: AL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
XXXX my husband and I applied with multiple lenders while trying to purchase our first home for XXXX. We ended up going with Quicken loan aka Rocket mortgage. After submitting all of our required documents we were told that we did not meet the income requirements because of the unemployment my husband recieves due to being a union seasonal worker. We went back and forth but were ultimately denied. We thought we would never be able to purchase a home. This was my husbands career that at the time he had been doing for about 15 years and they led us to belive that because of how that career was structured we wouldn't ever qualify. In the end a we went with our second choice. XXXX XXXX loan which never had any issues with my husbands line of work or income sources. We bought our home in XXXX and sold it in XXXX and relocated to Alabama. We were house shopping at the hight of the covid-19 pandemic, my husband was laid off was not able to return until XXXX of this year. We had just found a house that was a great deal. So that we didn't loose the house to the market, our parents took out a loan on some land that they owned and bought it outright for cash XXXX and added my husband to the title with them. We made the agreement that when he went back to work we would refinance them off the loan. Since my husband is back working we applied and rate shopped with several companies again. Our second choice thought it be better to put us in an conventional lone due to fees being cheaper and paying less over the life of the loan, Quicken wanted us to go with FHA and told us we were getting a better rate, It was like pulling teeth to get a loan evaluation for a conventional loan which he said wouldn't be a good fit.. We eventually decided to go with Quicken again only to run into the same problem. After submitting documentation we were told that it would be best to not use my income being that im self employed and it would be an extra hassle with providing documentation and that we didn't have to go through all that. In the end we were first told that we didn't qualify because they couldn't use unemployment to qualify us for the loan but all we needed was a cosigner and at that point they were going to stop the loan process if we chose not proceed with a cosigner. We provided them with support documentation, some even from they're own website, that stated seasonal workers can indeed legally use unemployment for income verification. We were then told that he would submit new information to his " team '' to make sure that he was doing everything correctly. He came back a couple days later and said that with the unemployment we still didn't meet the income requirements because there was a fluctuation in income even though that's the way his job is set up. All jobs in all states have their own pay scales because He is a union employee for over 20 years and the only requirements were that he made income and unemployment for both years and worked his job for month than 2 years.

Company response to consumer: Closed with explanation