Reviews

Rocket Loans review: how does it work and is it good?

Ready to take the plunge? Rocket Loans will help you get up to $45K in no time! Plus, pay no hidden fees. Keep reading and learn more!

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Rocket Loans: Borrow up to $45K and use it as you wish

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Read our Rocket Loans review and learn more about this lender. Source: The Mad Capitalist

This Rocket Loans review will explore an excellent option for those looking for fast funding. They offer long-term personal loans that can be used for several purposes.

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Learn to apply easily for Rocket Loans

Learn how to apply for Rocket Loans and take control of your finances today! Borrow up to $45K and receive it in one business day!

But is Rocket Loan Personal Loan worth it? There’s only one way to know. Stay with us to understand how it works, its terms and conditions, and other valuable information. Then read on and check out!

  • APR: 9.116% – 29.99%;
  • Loan Purpose: Any purpose (except illegal activities and as a student loan); 
  • Loan Amounts: $2,000 to $45,000;
  • Credit Needed: At least 640;
  • Origination Fee: Up to 7%;
  • Late Fee: $15;
  • Early Payoff Penalty: Not applied.

What is Rocket Loans? 

Rocket Loans is an online lender that provides unsecured personal loans to borrowers whit fair scores who need fast money!

The application process is simple, and you can get pre-approved without running a hard credit inquiry. If approved, you can have the funds in your account as soon as the next business day.

What Are The Terms and Fees? 

Rocket Loans offers 36 or 60 months terms depending on your qualifications and application details.

Also, depending on creditworthiness and other factors, borrowers must pay up to a 7% origination fee. They also have a $15 late payment fee should you fail to make payments on time.

What Can I Use Rocket Personal Loan For?

Happy excited smartphone user woman looking at gadget screen
Learn Rocket Loans’ main features. Source: Adobe Stock

You can use your Rocket Loans for about any purpose except illegal activities! So you spend it on consolidating high-interest credit cards and other debts, home improvements, etc.

Rocket Personal Loans is unavailable in Iowa, Nevada, or West Virginia.

Is Rocket Loans good?

If you still don’t know if Rocket Loans is the right option for you, don’t worry! We’re here to help! Check out their pros and cons to help you decide.

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Pros

  • Quick application process;
  • Funds can be in your account as soon as the next business day;
  • Customers can check rates and eligibility without hard credit inquiries;
  • No co-signer is required;
  • Funds are available for any purpose (except illegal activities and student loans).

Cons

  • High APR even for excellent credit;
  • Origination fees up to 7%;
  • Late payment fee of $15;
  • It’s not available in Iowa, Nevada, or West Virginia.

Does Rocket Loans check credit scores?

Yes, they do! A credit check is part of their policy and may determine your APR and influence the origination fee you will pay.

However, Rocket Loans doesn’t require a high credit score to apply for a personal loan. Then make sure you have a 640 score, which should be fine.

Want to get a Rocket Loans personal loan? We will help you!

This Rocket Loans review presents a great option for getting funds quickly and easily. To learn more about the eligibility requirements, check out our post below. You can apply now and get started on your financial journey.

Rocket Loans Logo

Learn to apply easily for Rocket Loans

Learn how to apply for Rocket Loans and take control of your finances today! Borrow up to $45K and receive it in one business day!

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