Home > Reviews >  Rocket Mortgage: Review

Rocket Mortgage: Review

  4,014 Reviews on Trustpilot

Rocket Mortgage Snapshot

Rocket Mortgage is an online loan marketplace and application process powered by Quicken Loans.

When applying for a mortgage through Rocket Loans, underwriters who work at Quicken Loans will decide if you are to be approved. Rocket Mortgage has a star rating system to show you different products and services offered by Quicken Loans.

If you’re on the go, then Rocket Mortgage by Quicken Loans is a great solution.

Their website and mobile app offer a simple, user-friendly application that can pull a prospective borrower’s employment details by simply inputting identity information like your date of birth and Social Security number.

The entire loan process is completely done online, which removes the need for having to meet in person.

Rocket Mortgage’s pre-approval can be secured in just a few minutes.


Rocket Mortgage Spotlight

Best For
Borrowers who want to do everything online

Marketplace or Direct Lender
Direct lender

Loan Types
Home Refinance, Home Mortgages

Loan Features
HARP refinancing, FHA, traditional fixed rate, VA

Repayment Terms
15 or 30-year fixed rate, 5 or 7 year ARM

Summary

Rocket Mortgage was built from the ground up as a digital lending platform. The direct lender was crafted for digital natives as a smooth, user-friendly loan platform which keeps the entire application process online and on their mobile app.

They offer a variety of mortgage loan options and rates, keeping borrowers up to date with the latest details. The website and app are designed simply and allow for all customer service to be done on the platforms.

Rocket Mortgage is best suited for first-time buyers, veterans, and borrowers who have small down payments.


Loan Types

Rocket Mortgage offers a variety of loan types, including Traditional fixed rate mortgages. They also offer a number of other loan features:

  • FHA Loans. First time home buyers with lower credit scores or a lower down payment can get financing to purchase their first home. Or they can refinance for any reason. Rocket Mortgage’s FHA loans only need a downpayment of 3%.
  • VA loans. Veterans can secure a government-backed VA loan which isn’t always available from online mortgage lenders.
  • HARP refinancing. This makes it simple for any homeowner to cash-out their refinancing loans in case of emergency, large purchase, or college fees.


Rocket Mortgage Rates & Terms

Rocket Mortgage’s exact terms for loans and mortgages aren’t exactly easy to pinpoint as their APR rate information can only be accessed by applying online.

And, unless you complete the entire application process, you won’t be able to see how much of a down payment you’ll need (although they can be as low as 3% depending on your situation).

However, Rocket Mortgage does reveal on their site that their terms range between 8 to 30 years with the YOURgage loan and variable rate mortgages have 5 or 7 year terms.

Unfortunately Rocket Mortgage only gives loans out for owner-occupied homes and not for investment properties.

You can secure a traditional fixed-rate mortgage of 15- or 30-year terms. You can also secure an ARM loan (variable rate), for 5 or 7 years.


Rocket Mortgage Pros

  • Fast, advanced platform
  • Website or Mobile app access
  • Variety of loan options
  • Real time rate updates
  • Easy-to-use platform

Rocket Mortgage Cons

  • The number of options available can be overwhelming
  • Terms and rates information isn’t available until you register
  • A lot of information on your finances needs to be submitted

Rocket Mortgage Application Process

Rocket offers one of the easiest mortgage lender applications:

1. Create an account on their website which takes a few seconds.

2. Complete the online questionnaire which includes basic information about your identity and financial situation.

3. Receive your loan quotes. You can customize tem by simply adjusting your monthly payments, down payment, or loan term until you’re happy with your offer.

4. Click the submit button to request an online approval.

5. Once you’ve received an approval, lock in your rates online.

6. E-sign your online documents to close the loan.


Customer Support

Rocket Mortgage has great customer support. Not only do they offer a phone line for support every day of the week, but they also offer email.

Plus, you can get a hold of a support person through their live chat feature on their site or mobile app. Live chat isn’t 24/7, but can be accessed 7 AM to midnight on weekdays and 9 AM to midnight on weekends.


Final Thoughts on Rocket Mortgage

So, should you use Rocket Mortgage to access a home mortgage loan?

Rocket is a speedy, digitally-focused mortgage loan provider that offers a wide range of refinancing and mortgage options.

You can secure a traditional mortgage, as well as a VA, or FHA loan, which is difficult to secure online.

Between a user-friendly website and app, Rocket Mortgage makes it easy for borrowers to secure a loan without the hassle of traditional borrowing methods.


FAQ

Are Quicken Loans and Rocket Mortgage the same company?
Yes. Rocket Mortgage is simply the online mortgage experience created by Quicken Loans. When you use Rocket Mortgage to secure a loan, Quicken Loans is the company that processes it. They’ll determine if you’re eligible, or qualified, and processes your entire loan.
What’s the difference between Rocket Mortgage and Quicken Loans?
While Quicken Loans is the company name of the mortgage lender, Rocket Mortgage is the name of Quicken’s digital lending platform.
Where is Rocket Mortgage available?
You can access Rocket Mortgage in all 50 states. However, you can’t secure Rocket Mortgage loans outside of the US or in Puerto Rico.

Rocket Mortgage Customer Testimonials

Great   4,014 Reviews

trustpilot-stars

AARON WAMACK

17 hours ago

trustpilot-stars

Best company I've ever worked with

Best company I've ever had the pleasure of working with


SARITY

17 May, 2022

trustpilot-stars

Horrible lending company

Horrible lending company. I was told i would get the $2,000 AMEX (lender's credit) but did not get it. They kept changing my estimate to keep me but 2 days before closing, it changed and they gave me a long story of why which did not make any sense. Keep in mind, I am using a VA loan. End of the day, i did not receive the $2,000 lender's credit. I could have gone back to Pennymac.


MARYBETH GERHARDS

17 May, 2022

trustpilot-stars

Very Annoying!!

One time I made the mistake of looking into their company for a refinance. They have not left me alone since, constant phone calls and left messages for me. Take the hint, if I haven’t called you back I’m not interested! 10 messages within a weeks time is a little bit excessive if you ask me! Please remove me from your list!


CEMYRA RAMOS

17 May, 2022

trustpilot-stars

James and Omar were honestly amazing

James and Omar were honestly amazing. I had heard horrible things about rocket but they did the best jobs. They were both extremely responsive to my calls and supported me through the entire process.


SAVANNAH

17 May, 2022

trustpilot-stars

Everyone was very helpful and the…

Everyone was very helpful and the process went extremely quick!


PHILIP MIMBS

17 May, 2022

trustpilot-stars

Easy to work with and close quickly.

Easy to work with and close quickly.


ALMA DAVIS

17 May, 2022

trustpilot-stars

The process was simple and efficient

The process was simple and efficient. We had a deadline and they met it. Never did I think buying a home would be such a simple process.


BRIAN

17 May, 2022

trustpilot-stars

Communications could have been better…

Communications could have been better because we started the process at a lower intrest rate but the ball got dropped somewhere and I ended up having to start all over and it cost me a higher intrest rate but service was good once Bob got involved just cost me more money Thanks Brian


ALAN COLLINS

12 May, 2022

trustpilot-stars

After 20 phone calls are more trying to…

After 20 phone calls are more trying to reach my live body that would take my new insurance name and policy number Took me 3 days and probably 3 hours to finally get a person I can give the insurance company name and number too and then they asked me the phone number because they don't have Google? So over it. Finally got a body. Finance part wonderful!! Service after the fact GARBAGE PHONE PROMPTS!!!


SHAUNA SOWA

12 May, 2022

trustpilot-stars

Absolutely amazing experience for me…

Absolutely amazing experience for me every little thing I didn’t know was explained to me and in a patient manner Rocket Mortgage made all the difference in my process of becoming a home owner 💕


KAREN RICO

12 May, 2022

trustpilot-stars

Excellent service

From start to finish everything was quick and easy. They have excellent service. I personally recommend them. Thank you for the quality of your work. I am completely satisfied with the whole process.


ANTHONY WILLIAMS

11 May, 2022

trustpilot-stars

My experience was great

My experience was great. Everyone that helped me from opening to the closing, friendly and answered all my calls and called me through the whole process


RAM RODRIGUEZ

10 May, 2022

trustpilot-stars

Excellent streamline process

Excellent streamline process, great customer service by Brad Tabor team. Very satisfied


STEPHEN KIEL

10 May, 2022

trustpilot-stars

Good mortgage and rate, but aggressive and unhelpful service

When I first started looking for a home, I also started looking for a mortgage. I received pre-approvals from three companies, one of which was Rocket, and elected to go with Rocket due to the brand recognition and accessibility. Throughout the home search process, my representative at Rocket reached out to me through calls and texts multiple times each day inquiring about my progress. While it was reasonably good to maintain that connection, it was annoying that he left the same voicemails every day for the same things. When I finally had an offer accepted and started working towards the closing, the contacts from the company picked up. Again, this would be fine, but the outreach was still mostly check-in stuff that could have much more reasonably been handled through email. Additionally, during the closing process, my loan changed hands four times during 30 days. This was super confusing because now I was getting calls from multiple different people over that time, which created a lot of redundancy. Ultimately, I think with the really aggressive outreach, I have to knock a star off. Finally, Rocket offers deals towards closing through occasional marketing emails. During the turmoil of closing on my first home, I forgot to request that one of those packages be added to my loan, and my representative never mentioned anything to that effect either. I finally remembered the offer three days after I'd closed, and immediately reached out to Rocket about eligibility. They old me that since I had already closed, I would not be eligible for any active marketing offers. I found this to be very frustrating, and despite escalating and speaking to multiple different reps, I was repeatedly told no. Ultimately, this very frustrating and poor customer support causes them to lose another star.


ANNETTE

09 May, 2022

trustpilot-stars

From start to finish our refi went…

From start to finish our refi went rather smoothly and quick!


DEBBIE COLEMAN

09 May, 2022

trustpilot-stars

It was a simple process from start to…

It was a simple process from start to finish. I appreciate that I had access to everything online & every couple of day I rcvd a call from a real person. I appreciate it all.


BRAD JONES

08 May, 2022

trustpilot-stars

A great 👍 experience with Rocket…

A great 👍 experience with Rocket Mortgage. Matt Watson was a true professional!


KRISTIE GLASS

07 May, 2022

trustpilot-stars

Smooth quick and EXECELLENT service

Patrick made the process smooth and simple. And the followup phone call to checkin and make sure we didnt have any unanswered questions was also unexpected and nice


JODI BARTH

06 May, 2022

trustpilot-stars

Rocket was quick

Rocket was quick, open, and honest in our re-fi. They did what they said and closed quickly with zero surprises. Not crazy about the rate, but the times we're now experiencing in this country dictate that, not Rocket. The process was smooth, easy, and quick.


NAM NGUYEN

06 May, 2022

trustpilot-stars

Cancelled Lender's Credit

One week before our closing on April 22, 2022, Rocket mortgage changed its loan estimate and deleted a $2,000 lender's credit that was offered to us to make their loan competitive versus another lender. With the $2,000 lender credit from Rocket, they were able to beat the preferred lender by a small amount, so we decided to go with Rocket due to our previous relationship. But, a week before the closing they kept on uploading the wrong loan estimate for us to sign, which was missing the $2,000. After taking time off and calling numerous times, our banker Amy Cooper told us they couldn't give us $2,000 anymore. She couldn't explain why and didn't help us, only offering her boss Mario for an explanation. He was hard to reach and didn't return our calls, offering no explanation. It is illegal for them to change the loan estimate after everyone signed off. They threatened to cancel our loan 1 week before closing to scare us into taking $2,000 less. My wife and I both took a full week off from work to research and fight this issue. We lost of a lot of salary and sleep because of this. We told them that if they didn't honor their word and go with the original agreed estimate, that we would not do business with them. Only 3 days before the closing, they finally gave us the correct final loan estimate and we were able to move towards closing. They threatened to delay our closing and scared us with the possibility of losing the house. They used illegal tactics and lied to us, but thankfully we did our research and knew what was right vs what was wrong. The CFPB needs to investigate this firm and its practices. The Bank Team Director who made the call to delete our $2,000 lender’s credit was Timario Mehmet and our mortgage banker was Amy Cooper.


JOHN WEATHERALL

06 May, 2022

trustpilot-stars

The experience the first time got…

The experience the first time got alittle off track, but later we all got on the same track and was a great experience right down to the closure.


FIGUEROA

06 May, 2022

trustpilot-stars

Quick and Easy

We received information quickly and thorough follow up was given. Quick and easy to work with them.


SONJA

06 May, 2022

trustpilot-stars

Easy

Easy, fast and correct


ALEC

06 May, 2022

trustpilot-stars

I have come to enjoy the experience…

I have come to enjoy the experience dealing with the various agents at Rocket Mortgage. I felt like a VIP throughout the entire process when they started out with the promise that this would completed a short period of time, they kept their word. They seem to be always looking for the best possible solution to each of my questions or concerns. Truly appreciated the time and service provided to me and my family.


MAGGIE PEREZ

06 May, 2022

trustpilot-stars

Great customer service

Buying a house can be daunting but my experience so far with Rocket Mortgage has made me look forward to the process. Very knowledgeable and patient staff. I highly recommend especially if you're a first-time homeowner.


DEBBI KEPHART

05 May, 2022

trustpilot-stars

Excellent experience

Everyone at rocket mortgage is very professional and knowledgeable. I was always informed as to the status of my loan and the website is phenomenal. It is one of the easier websites to navigate. I would highly recommend to anyone to use RocketMortgage.


D SAJ

05 May, 2022

trustpilot-stars

Easy, No Hassle, Fast closing

I’ve refinanced before and those experiences were awful. I wanted to refinance again but was extremely hesitant because of the long drawn out process I had before. But without much expectations I applied online. It was super easy and ended up being super fast! It was about 3 weeks from start to close. I would highly recommend Rocket Mortgage!!


ELIZABETH M

04 May, 2022

trustpilot-stars

I was a previous RM customer and…

I was a previous RM customer and refinanced sign Davis. Both times going thru RM, were incredible! I have never seen something work as flawless and well detailed as working with RM. Thank you, Rocket Mortgage and Davis, for the exceptional service! Also, they keep their loans, so they service them as well! That’s a huge deal!


ROBIN PINILLA

04 May, 2022

trustpilot-stars

Loved the online checklist system-disappointed in promotional program

Loved the online checklist system, kept me on track the entire way. Was disappointed when I asked about the promotional item (Google Home system) was not available because I had not asked about it during the loan process. Would not recommend at this point, feels like a bait and switch, why would it matter when I mentioned it? They were still able to obtain a loan with us.


AXL ROSE

04 May, 2022

trustpilot-stars

I've done numerous refi's and new…

I've done numerous refi's and new mortgages with Quicken/Rocket. They have all gone smooth and flawlessly. This most recent one was probably the easiest yet. Great job and kudos to Nina


AMBER ROCHELLE ZIRK-CRAWFORD

04 May, 2022

trustpilot-stars

What will it take to get a MANAGER to…

What will it take to get a MANAGER to call me back in a professional manner?


JERROLD

03 May, 2022

trustpilot-stars

Great overall experience!

Great overall experience!


JAMES

02 May, 2022

trustpilot-stars

Super great experience

Super great experience. From top to bottom your team was exceptional. The only thing I would mention is sometimes it got a little confusing talking to different people every time I called or email. I understand why and it makes sense. Otherwise I have no complaints. From the moment we started I felt at ease which made the whole refinancing a great experience. I would definitely recommend you to others.


SHARON

02 May, 2022

trustpilot-stars

I felt very supported through the whole…

I felt very supported through the whole homebuying process with Rocket Mortgage! I would get weekly calls from them making sure I had all the resources I needed and I was able to close super quickly on my house!


ERIC BICE

02 May, 2022

trustpilot-stars

They made buying a new home easy they…

They made buying a new home easy they were all friendly and so very helpful


JO B.

02 May, 2022

trustpilot-stars

Rocket mortgage is awful

Rocket mortgage is awful. I paid my home insurance in full. Called Rocket to make sure they knew and that my escrow should be adjusted. I spent an hour trying to navigate their phone system after realizing that I could not do this through the website. I finally spoke to two people and thought it was fixed. Then I get a credit on my credit card for the amount I paid for the insurance. Rocket refunded the insurance company inspite of my efforts.. Rocket Mortgage is unreponsive,not helpful, inept. And it is almost impossible to speak to a human and when you do they do not follow through.


SEAN MONAHAN

01 May, 2022

trustpilot-stars

Excellent communication

Excellent communication, fast and efficient.


CUSTOMER

30 April, 2022

trustpilot-stars

Thomas was super with us

Thomas was super with us! Answered all my questions promptly and made the whole proces very smooth..


KULNEET SINGH CHOUDHARY

29 April, 2022

trustpilot-stars

Fast Highly Recommended!

Fast Highly Recommended!


FRANK LACOCO

29 April, 2022

trustpilot-stars

TOO GOOD TOO BE TRUE

TOO GOOD TOO BE TRUE


KAT

29 April, 2022

trustpilot-stars

The Rocket Mortgage team is quick and…

The Rocket Mortgage team is quick and efficient. They do what they say they will on time and professionally.


ROBERT

29 April, 2022

trustpilot-stars

Rocket Mortgage Home Refinance

Overall experience with our home refinance through Rocket Mortgage was great. We initiated the process online and when the time came to speak to someone about questions for the process the online chat and phone conversations worked perfectly. This is our 2nd refinance through Rocket Mortgage and we did notice that the process took a bit longer then the last time. We attributed it to COVID in regards to staffing etc . There were a couple of minor things we had concerns about. Item 1. We felt the cost of the home appraisal was rather high, the last refinance it was in the $500 range, not over $900 such as this time. In addition, it required 2 visits by the appraiser which cost a week in between visits. We were told that we needed a smoke detector in one room that didn't have one, and the kitchen and both bathrooms required GFI electrical outlets. Those items were rectified that very same day but we had to wait another 7 days for a return visit by the appraiser to verify. Still not sure why these items were requested to be rectified by the appraiser as one would think its just an appraisal. But in the end those items needed to be done, loan or not. Item 2 It would be great if the lender or underwriter would have the capability to electronically send payoff payments to the borrowers creditors in real time. It was cumbersome to wait for the hard payoff checks, then travel to local entities to pay off loans in person, and then send the others by mail. Due to the time between lender obtaining our payoff amounts, then sending checks to us, and then having us disperse the funds, every single payoff amount was inaccurate, so now we have credits or refunds due. (this probably was caused by us continuing to make on-time payments until we received payoff funding) Again, we were very happy with the whole process and all of the persons involved. Great Job!!!


BILLY POWELL

29 April, 2022

trustpilot-stars

I will make this short and sweet.

I will make this short and sweet. This mortgage company does not do what they say they are going to do. This company changed my documents before closing without consulting me. Never again will I use Rocket mortgage. Dr. Billy Powell


NANCY

29 April, 2022

trustpilot-stars

Never sell to someone with Rocket Mortgage

As a home seller, our buyer spent 2 months trying to get straight answers from Rocket Mortgage. She repeatedly did not get called back from the broker she was trying to work with. She had great difficulty with getting straight and truthful answers. Finally closing date came and went with no funding, and no real answers. I'm sure she will be filing her own complaint here shortly as well, since she is moving to another Mortgage lender. As a seller, I will NEVER again deal with someone who says they have anything to do with Rocket Mortgage.


GREG COBB

29 April, 2022

trustpilot-stars

The process was very easy they kept in…

The process was very easy they kept in contact via email and text when needed. I would recommend to anyone


ROB GOSS

28 April, 2022

trustpilot-stars

Quick, easy, and not pressured

From the time that a broker called me to inquire about a refinance of my current mortgage and listened to my options, I had an good rate locked it within 24 hours and closed my new mortgage in about 2 weeks. It was quick and easy and has freed up money for future savings and home improvements.


JACKIE AUSTIN

27 April, 2022

trustpilot-stars

My experience with Rocket Mortgage was "EXCELLENT"

My experience with Rocket Mortgage was excellent from beginning to end. They kept us in the know of what was going on with loan. I definitely don't have any complaints about the professional service that we received from them. I would definitely recommend Rocket Mortgage to anyone who is looking to purchase a home or refinance their current mortgage!!!


JOHN POIRIER

27 April, 2022

trustpilot-stars

We were denied by another company

We were denied by another company, and it was suggested by a friend to try Rocket. Got help and guidance from the beginning for a re-fi process. Could not have been more satisfied and we closed in a short time giving us the needed cash to get rid of our credit card debt, and to be able to breath again.


HEATON

27 April, 2022

trustpilot-stars

Rocket Mortgage was very helpful in our…

Rocket Mortgage was very helpful in our refinancing to help us consolidate debt and get back on our feet. I am truly very satisfied with their process and the helpfulness and friendliness of their staff. They ask what my goals were and assisted me in achieving them. They answered all my questions quickly. Thank you.


A. CASTILLO

26 April, 2022

trustpilot-stars

This was a very easy process

This was a very easy process. We were happy with all of the people who helped us. With the payout we were able to order new window for our house!

1

2

3

4

5

Assurance IQ, LLC (“Assurance IQ”), NMLS #1912050 (nmlsconsumeraccess.org) is a lead generator. See our current state licenses below and online here. Assurance IQ is not acting in the capacity of a mortgage broker, loan originator, correspondent lender or lender. Information received will be shared with one or more third parties in connection with your residential mortgage loan inquiry. The lenders determine whether you will be approved and the rate you will be offered. There is no guarantee that you will be approved for credit or that you will qualify for the advertised rates, fees or terms shown. The lenders’ credit decisions may vary based upon your loan request, your particular financial situation and other criteria determined by the lenders. All rates, fees and terms are not guaranteed and may change.

State broker licenses: Arizona - Mortgage Broker License: #1010424 4949 Pioneer Ln, Lakeside, AZ 85929. California – Licensed by the DBO under the California Residential Mortgage Lending Act #60DBO-115120. Colorado – Assurance IQ, LLC, 206-413-6771, Regulated by the Division of Real Estate, Mortgage Company Registration #1912050. Florida - Mortgage Broker License #MBR3633, 920 5th Avenue, Suite 3600, Seattle, WA 98104. Ohio – RMLA Registration #RM.804628.000, Oregon – Assurance IQ, LLC, Mortgage Lending License #1912050. Pennsylvania - Mortgage Broker License #78592.

The operator of this website, Assurance IQ, LLC, is a wholly owned subsidiary of Prudential Financial, Inc.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.