About Rocket Mortgage
Rocket Mortgage offers a simplified online experience to apply for a home loan or refinancing. You can apply for a mortgage and then manage the loan completely online through the company’s website or mobile app. Rocket Mortgage’s Home Loan Experts are available by phone if you need assistance. The company markets itself to those with good credit who plan to buy a home or refinance within the next six months.
Overall Satisfaction Rating
- 5 stars
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- 1 stars
- Online convenience
- Refinancing options
- Available nationwide
- No in-person services
- No construction loans
Rocket Mortgage provides a digital home loan experience. Some might find the service impersonal, but others enjoy the convenience. It offers customized recommendations and free resources to educate customers.
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I do not like to bash any organization however my experience with Rocket has been horrible. Yes, I have refinanced many times in the past but this has been the absolute worst experience. I am tracking my own file, dashboard is not updated, and there is no urgency to close my loan. And if you ask your "Associate Banker" for information, you will be referred to a "customer specialist" who will then refer you to the "underwriting team" who might consult with someone in the "closing department."
Bottom line, Rocket cannot support the infrastructure required to handle what are probably very busy times in the refi world due to the low interest rates. No one was in a hurry or concerned with the slow (over 60 days and I am still not closed yet) process - so please tell me, this great new digital approach isn't working too well when no one is responsible for moving these refis through the system.
Also, be prepared that they will take so long to close your loan that you will be uploading redundant documents that were uploaded previously but are now dated. I was told my rate was locked in "for now" but if the loan took longer to close (not from any qualifying issues) then that might impact my interest rate..!! What??? Nice try Rocket, those business practices went out a long time ago.
I inquired about a VA Streamline to take advantage of the current low rates and in about 30 days my loan was closed, couldn't ask for a better experience. This time around was the quickest, easiest and most painless mortgage experience that I've ever had!
We had a wonderful and stress free experience with our Mortgage Experts! They kept us informed with all the steps needing to be accomplished. There wasn't a whole bunch of time wasting appointments that had to be attended and we had the confidence of letting them do the work. We would definitely do this again with these guys. Thanks!
I am very happy with the loan and the speed of the whole process. From start to close in less than 3 weeks. I am a little disheartened that there wasn't much person to person contact. At times I think no one wanted to actually talk to me once the application started. Still a great servicer and company.
I was approved and my QL rep didn’t tell me and didn’t do what he was supposed to do to get my loan done. I had to go from the start all over again and it took months to complete by of lost paperwork and not following up.
Proactive communication needs to be GREATLY improved. Any updates to our 5+ month refinance process were only received after we reached out for those updates and even then, it took multiple contact attempts. One example was a failure to verify employment. The number provided for verification was my wife's office's landline number. However, since we were all in the middle of COVID, the HR person was not in the office all week and therefore was not there when the attempt was made to verify her employment. This was not communicated to us for 4 weeks and we only learned of it after WE asked what the delay was. 4 weeks is an absolutely unacceptable amount of time to let a refinance stall over a missed phone call. An attempt to contact us for an alternate phone number should have been made immediately.
Quicken thoroughly vetted me; self employed. The process was lengthy and arduous from the Borrower's side but looking at it from the Lender's side; I would have done the same things. It's money being lent to a complete stranger and a lender wants to know the loan is good. My Representatives were friendly, and quick to respond to my questions. They were well trained for the task and kept me well informed. Providing Docs was easy uploads thru the Bowwows' web-portal. I was kept up to date thru the entire process. They texted me to inform of Doc's needed if I failed to check my Account Dashboard timely. I would strongly recommend Quicken.
I am extremely satisfied and impressed with the refi process. Customer service was always readily available. I submitted all required documents from my phone. There were no surprises or tricks. Closing was contactless, a notary came to my home and we signed paperwork sitting masked, socially distanced, outside. We considered several companies, and I’m glad we went with Quicken. Thank you!
Rocket Mortgage's Bankers were prompt, accurate and quick to respond throughout the entire process. We were even able to close earlier than the initial closing date which was good for both the us and the Seller. I would recommend this service to my friends and relatives.
When I started this process in July, I was led to believe that the total closing costs would be less than $5,000. I was under the impression there were no administrative fees and was not considering the escrow funding that in total raised my loan about $10,000. I may get a little back from my previous mortgage holder from escrow, but if I were to know all of this up front, I would not have refinanced. It will take many years to recover that amount. I know I could have canceled but after waiting so long I did not want to start the process over with another company.
This whole process worked well, everything happened at a good pace too. Everyone involved was helpful. The website was easy to use. It was always obvious if I needed to do anything. It was also good to see what Quicken Loans was up to in the process. The transparency was better than anything I had seen before in a mortgage transaction (and I've moved or refinanced a fair number of times!).
Probably the single best refinancing experience we've ever had. We were kept constantly in the loop every step of the way, and the closing process--which usually takes 3 hours and lots of ink pens--took about 30 minutes. We were done so fast, I assumed we'd forgotten to do something. So, if you want to refinance, use Rocket and Quicken. You won't regret it.
I did not enjoy my experience with Rocket Mortgage I Started this process in July and it did not get completed until late October. You can only blame Covid for so much. I constantly was asked to upload my paychecks and other documents and it felt very redundant and as if the left hand did not know what the right hand was doing over there.
I loved working with Rocket Mortgage, they responded really fast to emails, texts and calls. They were able to answer any questions I had and was able to help me without making me feel stupid. Even though it was kind of confusing on the changes of people I worked with, from lender to purchaser, underwriter and the finalization person. But overall it was a great experience! And I would recommend them to everyone. :)
Jeff was so easy to work with. Made the whole process super easy and stayed up to date constantly!! Even when out of the office him or a coworker always got back to me on any question and I never felt confused or overwhelmed at all!
It was very easy to contact the person who handled the paperwork by phone. No waiting on hold. The only in-person contacts were the appraiser and the person who handled the closing. This worked well during this time of social isolation.
Best experience from beginning to end. Super easy, streamlined online and quick! Any questions I had were answered quickly and without hesitation. Never had any reservations on using Rocket Mortgage! Will definitely use again if needed and will tell all my friends.
My experience with Quicken was very accurate, fast, and efficient. My questions/concerns were answered in a prompt manner. I was very pleased with the way everything was handled. I will recommend Quicken to all of my friends. There was nothing more important to me than the efficiency Quicken uses to process things during such a trying time.
We were disappointed in the time it took to resolve errors with the set up of our tax escrow. We are already a customer and were simply going through a refinance. When the error was discovered, we notified Rocket Mortgage immediately and still had a week to get it resolved prior to closing. It did not get taken care of and our closing was pushed out an additional two weeks.
Fast friendly service. Like the mobile app experience. Being able to access the documents on my phone was really nice feature. Our representative was very responsive and always available to help with any questions we had. Got a great rate and was able to easily meet our goals!
I have said it before and I’ll say it again, working with the team at Quicken is the best of any mortgage company around. While the process took a little longer than normal (I’ve refinanced twice before and secured new mortgages with you as well), this experience was during a hot mess of an epidemic which threw a wrench into everyone’s day. I applaud the team for their perseverance and recognize all the effort it took to navigate the constantly changing landscape and get us to the end goal! Thank you again and again!
Overall my experience was good. The main room for improvement would have been with my banker. While trying to close on my loan I was trying to have a payment towards a stormwater fees removed because my condo association pays it. My banker did not follow through and at closing I had to work with a specialist who recommended I close my loan and request to have that payment removed afterwards, which I did. At that point it only took a couple calls/emails and a couple of documents and the fee was removed. I don't understand why this couldn't have been done during my application process. Otherwise my banker was fine. Everyone since then has been great. It was a minimal fee and not doing a. Ew escrow analysis is only a minor inconvenience since I now have only about $8 a month going to escrow for nothing but it could have been solved earlier in my opinion. Thank you to everyone who helped work this out!
I’m the one that needed to keep reaching out to find out information that was important. No one reached out, even when someone told me that they would put a reminder to follow up in a couple of days. No one reached out then as well. It would have closed quicker if the communication was there. I made it very clear that a POA was needed considering my situation when I initially did the application.
Our experience refinancing with Quicken was excellent, our advisor, Kate ** was excellent. We highly recommend working with Quicken Loans, and Kate in particular. Her level of service is above and beyond expectations, Kate communicated the expectations and process clearly and thoroughly. Our
The entire process was painless from start to finish. Joseph, the banker with whom I initially spoke, provided exceptional service. Your website was always up and processing documents and other tasks for me was always easy. This is the second time I've used Quicken/Rocket Mortgage and I've been very pleased with the services and product each time.
I closed the loan 3 weeks ago and just yesterday received a line by line, itemized and easy to visualize cost disclosure document. Maybe I should have asked for one before agreeing. Way too late now for any cost comparison. I was particularly irked that I paid a $25 out going wire transfer fee and a $12 incoming fee to the bank. I was never told about the fee beforehand. I know this was a bank charge but Quicken knew about it because the $25 charge was on the cost sheet I just received. I should have been made aware of this. I did feel a little rushed in the process.
Every step of the way, we were able to get all our questions answered or help with providing our documents. It was as if we were dealing with a local business in our community. We knew we were in good hands. We are also very impressed with the Dashboard that allows us to make decisions in the paydown of our mortgage.
The Closing cost was almost double what I was initially told it would be, my payment was also higher than I was told, when I tried to contact you about this through email I was never got a reply back.
Overall, the experience was great. Except for the slow movement by the title company, everything else went quickly and smoothly. All correspondence with employees was great. The inspection and valuation of our house was quick and easy. Plus, the valuation report was sent into Quicken extremely quickly by the company. Closing was very smooth and took place in our home. Overall, very satisfied and would recommend to anyone.
Pros: The representative I worked with was quick to respond to texts, calls, and emails. He was patient and clear with explanations. He was able to answer all my questions and did so promptly. Cons: Not the best rates out there. Instead they claim that they service the loan instead of selling it. Is this better? Probably a little, but not necessarily for the cost of a subpar loan. They were able to match a better offer from a different lender once provided with an official offer from another lender. Overall, pretty positive. They did a decent job and I'm pretty happy with the result.
Rocket Mortgage Company Information
- Company Name:
- Rocket Mortgage