- Mortgage rates
- Lower than national average
- Minimum FICO score
- 580 to 620
- Minimum down payment
- 0% to 3.5%
- NMLS ID
- #3030
Pros
- Largest U.S. mortgage lender by 2021 numbers
- Available nationwide
- 100% online application
Cons
- No in-person services
- No construction loans or HELOCs
Rocket Mortgage is best for borrowers looking for a quick and convenient loan process. It’s a great option for those searching for a new mortgage or refinancing loan, but we don’t like that there aren’t any in-person branches and that Rocket doesn’t offer construction loans or HELOCs.
- “Going with an online company I really thought it would be a lot of phone tag, emails, and waiting. I never waited more than an hour before someone replied, or called me to touch base.” — Rebecca from New York
- “I would absolutely look to them for a loan in the future. The loan process was very simple and the online portal made it so easy to upload the needed documents. The app is very helpful with the entire loan process.” — Sharon from New Hampshire
Rocket Mortgage is an online mortgage company developed by one of the largest national lenders (Quicken Loans). The application process takes place entirely online, and approval can take up to three days. You can learn about your mortgage options, find interest rates, get approved and manage payments on the website or in the mobile app.
Types of loans
- Conventional
- FHA
- VA
- Jumbo
- Refinance
How to apply
You can apply for a mortgage with Rocket online, on the mobile app or by phone.
Time to close
On average, it takes between 30 and 45 days to close on a loan with Rocket Mortgage.
Availability
Rocket Mortgage offers loans nationwide. There are no physical branches.