Reviews
Rocket Mortgage review: how does it work and is it good?
Are you looking for a mortgage? Get the inside scoop on our Rocket Mortgage review before you apply. Read on!
Advertisement
Rocket Mortgage: Full, Honest, and Detailed Review
This Rocket Mortgage review will break down how it works and what makes it different from other mortgage options on the market.
How to apply for Rocket Mortgage
Find out how to apply for a Rocket Mortgage with us. Keep reading to find the tips you need.
Plus, we’ll give you a scoop on this mortgage’s pros and cons and some more important information. Keep reading to learn more!
| Credit Score | 620 |
| Loans Offered | Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA |
| Minimum Down Payment | 3% |
| APR | Adjustable or Fixed-rates that depend on loan type and terms. |
| Terms | 15 to 30 years. |
You will be redirected to another website
You’ll receive messages for less than 1 week, with a maximum of 1 message per day. You can unsubscribe anytime by replying STOP. By submitting this form, I confirm that I am 18+ years old and agree to the Privacy Policy and Terms and Conditions. I also provide my signature, giving express consent to receive informational messages via automated emails, SMS, MMS text messages, and other forms of communication. Message frequency may vary as part of our good-faith effort to respond to your inquiry. Message and data rates may apply. Text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and that I may revoke my consent at any time.
Advertisement
What is the Rocket Mortgage?
Rocket Mortgage is an online lender in the United States.
It offers a good option for borrowers looking for easy ways to compare rates, learn more about the mortgage process and apply for a loan online.
Rocket Mortgage is well-rated by lenders and offers conventional and government-backed FHA and VA loans with adjustable or fixed APRS.
However, Rocket Mortgage doesn’t offer home-equity loans, home-equity lines of credit, or HELOCs.
Rocket Mortgage provides a conventional loan with fixed rates from 8 to 29 years, besides its other loans that range from 15-30 years.
You’ll be required to pay at least a 3% down payment. Depending on the loan amount, and other things they analyze in your application, you might have to put down some more.
So, be sure to have the necessary funds, and reach one of their agents if you have questions about the process.
Rocket Mortgage has a good reputation among its clients. It was considered the largest FHA loan lender in 2021.
Finally, the application is easy and online. Borrowers can pre-qualify and decide if this is the loan they want.
Is the Rocket Mortgage good?
Whether Rocket Mortgage is good will depend on each borrower’s needs, circumstances, and budget.
We can help you make this decision by presenting you with some of the benefits and drawbacks of Rocket Mortgage. Read on!
Advertisement
Pros
- You can find the best mortgage options to repay in 15-30 years.
- The competitive rates makes this loan one of the best mortgage options.
- Have you got questions? Don’t worry! You will find all the support you need over the phone.
Cons
- Rocket Mortgage will check your credit score if you want a customized rate, which might lower it for a while.
- There are no branches for Rocket Mortgage.
- It doesn’t work with USDA loans or home equity lines of credit.
- It charges expensive origination fees.
Advertisement
Does Rocket Mortgage check credit scores?
Yes, it does. Rocket Mortgage checks borrowers’ credit scores as part of the loan process.
They consider it when evaluating if you are creditworthy so that it might bring your score down a little bit.
Want to apply for the Rocket Mortgage? We will help you!
If you liked the Rocket Mortgage review, you could start your Rocket Mortgage application today.
Check out our post below. It will only take you a few minutes to learn how to apply!
How to apply for Rocket Mortgage
Find out how to apply for a Rocket Mortgage with us. Keep reading to find the tips you need.
Trending Topics
First Progress Platinum Elite Mastercard® Secured Credit Card review
Ready to start improving your credit? The First Progress Platinum Elite Mastercard® Secured Credit Card is a good way to get started!
Keep Reading
Marriott Bonvoy Boundless® Credit Card review
Read our in-depth Marriott Bonvoy Boundless® Credit Card review. Earn points on purchases and enjoy an excellent welcome bonus! Keep reading!
Keep Reading
Petal® 1 “No Annual Fee” Visa® Credit Card review: is it legit and worth it?
Petal® 1 "No Annual Fee" Visa® Credit Card will help boost your score. In this post, we'll take a closer look at its benefits!
Keep ReadingYou may also like
Delta SkyMiles® Platinum American Express Card application
Do you love to travel and earn card perks while doing so? Read our post about the Delta SkyMiles® Platinum American Express Card application!
Keep Reading
Learn to apply easily for the Red Arrow Loans
With Red Arrow Loans, you can apply quickly and easily and deposit the money into your account immediately. Read on to learn how!
Keep Reading
PenFed Credit Union Personal Loans review: how does it work and is it good?
PenFed Credit Union Personal Loans review covers how it works and its pros and cons. Check out our post to learn more!
Keep Reading