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Rocket Mortgage: Review

  3,134 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   3,134 Reviews

trustpilot-stars

KELLY M

11 June, 2021

trustpilot-stars

The process was very easy to refinance

The process was very easy to refinance. Every one that I worked with was very nice and very helpful. The whole process went very quickly and the Rocket Mortgage app made it very easy to submit and sign paper work. I would recommend Rocket Mortgage to anyone looking to get a mortgage loan or to refinance existing loan.


DAVID WIRTHLIN

11 June, 2021

trustpilot-stars

Client relations is a joke

Client relations is a joke. I expect I will leave voicemail and get same response nothing. rocket Mortgage please dont reply i will do it for you. "Reply from Rocket Mortgage -Hello David, I see that you already spoke with Roman Nunez from our Senior Research Team about your concerns. We thank you for your time."


KEVIN

10 June, 2021

trustpilot-stars

Made the process very easy

Made the process very easy, including the online portal to exchange documents. All of the employees' were knowledgeable about the status of the loan and any issues or outstanding questions.


CASSIDY BENNETT

10 June, 2021

trustpilot-stars

I had first tried another mortgage…

I had first tried another mortgage company where I got told “yes you can get the loan”, “ wait there’s an issue”, “I got you the loan”, “ I’m sorry I entered in wrong information “. I had totally given up, then I tried Quicken Loans at the last minute. I cannot express how easy they made it! I have referred and referred them. I’m very simple minded but they made sure to double, triple explain everything to me. Getting documents to them was a breeze and now I’m living in my new beautiful home! Very thankful for Rocket Mortgage/ Quicken Loans!!!!!


MARCELIANO BADILLO

10 June, 2021

trustpilot-stars

Easy and quick service

Easy and quick service, it was pleasant dealing with Nate.


KELLY NOVI

09 June, 2021

trustpilot-stars

Easy and quick process from beginning…

Easy and quick process from beginning to end. Lots of help up front and using app male's entire process simple anytime of day.


SALT CLAN

09 June, 2021

trustpilot-stars

Thank you Rocket Mortgage

Thank you Rocket Mortgage, I am now a home owner after so many years renting!


DAVID WIRTHLIN

09 June, 2021

trustpilot-stars

No response poor service.

The new thing must be everyone is a supervisor and you get to leave voice mails with no follow up. They took a good faith deposit knowing all the facts for my home and then canceled because it doesn't qualify. As a Military Vet I would not use this company. $20 says there will be a quick PC response to this but no resolution just like the last one!


CRYSTALYNE SMITH

09 June, 2021

trustpilot-stars

Delayed my closing!!!

Delayed my closing!!!! Appraisal still not scheduled could possibly lose deal because of them. Was not notified that a 2nd appraisal was needed until 6/03 The first appraisal was done 5/17. As of today 6/8 still no appraisal was originally set to close 6/11 now its 6/25. They called there appraisal company however the appraiser still hasnt called to set up an appointment to do the job I am starting to wonder if the appraisal company not wanting the job because its rocket /quicken loans I am not sure. If you are looking for customer service you will not get none here. When or if I close as soon as I can I want to refinance with another company


TERRI SCOTT

08 June, 2021

trustpilot-stars

The mortgage process from application…

The mortgage process from application to closing and the App for making payments has been very easy


BECKY DEARMITT

08 June, 2021

trustpilot-stars

Quicken (Rocket) Loans was awesome to…

Quicken (Rocket) Loans was awesome to work with. Very professional and straightforward! I would recommend them to anyone looking to buy for the first time or to refinance!


HOLLY HUXFORD- WORSHAM

08 June, 2021

trustpilot-stars

Rocket Mortgage was amazing

Rocket Mortgage was amazing! They facilitated a quick and easy process, from application to closing!


DAVID HENDRICKS

08 June, 2021

trustpilot-stars

Just curious...

When I first called Rocket Mortgage I was just curious. Then I refinanced my house! From the 1st agent I spoke to, Nate Flesher, to their contract agent that came to my house for closing, everyone was professional and appeared to want the best for us. You know, like all businesses should and use to treat customers! This is a great company..making America great again! I recommend checking with this company even if you aren't thinking about refinancing or even a first mortgage.


JAMES RYAN HOLLINGSWORTH

07 June, 2021

trustpilot-stars

Everything was smooth and easy

Everything was smooth and easy. Best experience so far with refinancing.


MICHELLE BARTAL

07 June, 2021

trustpilot-stars

They charge too much

The person I initially spoke to was amazing. But after I changed my mind one day later the customer service changes drastically. Also do not give them your credit card unless you are sure of this loan. I have a 500 charge on my credit card and even after only 1 day they are saying since I signed a document they will not refund some of it. They charged 76 dollars for pulling my credit report. I could go to ten different places right now and not be charged a dime. Also who ever they use to pull your credit really hurts your credit score, mine was 720 last week and now it’s 712. Also trust me when I say this there are better loans out there just do your research. I’m a veteran and gonna go with 1st rate home mortgage number is 1-888-958-5750. They have no out of pocket costs, no deposits, no appraisal, they will defer 2 mortgage payments, get a full escrow refund from current lender and if you don’t wanna restart the clock on your mortgage you can start at 29,28,27 etc fix term. I don’t know what closing costs are but Rocket mortgage was charging over 5000 and I’m a veteran with good credit. If you want ease then Rocket Mortgage is probably for you but if you don’t want to pay a large sum and have them price gauge you with everything then I advise you not to do this. Research other loans.


LON DIFFENDERFER

07 June, 2021

trustpilot-stars

Almost perfect...

Quicken Loans (soon to be Rocket Mortgage) was great for us. They have a very streamlined process that helped get us to closing in less than 60 days. Something that was very important to us, was that our loan would not be sold to a 3rd party after generation, which we were assured by the initial representative would not happen. Everything was very clear, and if we had any questions, their representatives were ready to answer. The only thing we found to be confusing was the need to contact different representatives for different parts of the process. From the initial application to receiving an official quote was serviced by a "President's Club Banker." The collection of all of the necessary documents was handled by a "Loan Processor." And the closing was done by a "Closing Specialist." During the document collection process, if we had a question about the structure of the loan, the rate, or anything of that nature, we needed to contact the "banker," so it was important to keep available all of the names and contact information and to understand the responsibilities of the various people assisting us, so that we could direct the questions to the proper person. It had been over 23 years since our last mortgage application, so this may be common practice through the industry. But, other than that, everything went very smoothly.


JARED

06 June, 2021

trustpilot-stars

We had a great experience with Rocket…

We had a great experience with Rocket Mortgage. After having some issue with out local banks, Rocket Mortgage was so easy to work with. The documents they required were explained to us the best way possible. Our personal banker who was assigned to our account was so much help. He was quick with an email reminder about documents that were needed.


JESSICA DECESARE

06 June, 2021

trustpilot-stars

Everything went extremely well

Everything went extremely well. I highly recommend Rocket Mortgage.


JON MARKWOOD

06 June, 2021

trustpilot-stars

Outstanding service from quicken

Other than a communication issue about our homes appraisal that pushed closing back 30 days, we had a fantastic Mortage process with Quicken. Their whole team was honest and quick with all answers and they got us the best rate available. From offer to closing we closed in 60 days. We are very happy with our new home and Quicken helped us every step of the way and didn’t push us once.


MOLLIE

05 June, 2021

trustpilot-stars

Best experience ever

This was by far better than I could have ever imagined. Jon was extremely helpful and explanatory with everything that was happening. This was my first home purchase so the whole process was completely new to me. I would definitely recommend to a friend.


SEAN CUELLAR

05 June, 2021

trustpilot-stars

Wow - that was fast and easy!

Wow! That was easy. Everyone at Rocket Mortgage was pleasant and professional!


NAOMI HINZ

05 June, 2021

trustpilot-stars

Great customer service

Great customer service. My loan closing was pushed back twice. But Quicken was super easy to deal with. Have recommended them to others already.


HAPPY CUSTOMER

05 June, 2021

trustpilot-stars

Efficient and easy loan process.

Efficient and easy loan process.


KAREN FISHER

05 June, 2021

trustpilot-stars

Good Job

As usual you do a real good job and on top of things. Very happy to do business with you. Been with you for years and refinancing with you was a good experience just like the original loan we had with you.


FERVIL

04 June, 2021

trustpilot-stars

Great communication and support from…

Great communication and support from the beginning to the close of the mortgage


JP CARSTEN

04 June, 2021

trustpilot-stars

Everything went pretty smoothly

Everything went pretty smoothly. We had a communication issue that was based upon an assumption I had made in error. No big deal- delayed the closing by four days. Stuff was laid out fairly well as to what would be signed. My wife was across the ocean from me at the time. She was contacted directly and we were presented the documents to sign. One glitch here by Quicken. I got a note saying that I needed to sign something but there was no place to do that. I started a chat with someone that said I must have been on the wrong page. We went back and forth for twenty minutes when I finally said, "Wait a minute- did my wife already sign this?" she wrote that it didn't matter, that I needed to sign also. I concluded the chat and did nothing. Sure enough, the requirement had been satisfied by my wife's entry. The person I chatted with was incorrect. A bit annoying. The only other comment was that I had no problem with green trainees contacting me during the process as part of training but I became annoyed when the same commentary was repeated several times in order to bring them up to speed with my same comments over several minutes to respond.


TONY KILGORE

03 June, 2021

trustpilot-stars

My experience with Quicken Loans and…

My experience with Quicken Loans and Rocket Mortgage was awesome. The team was always available to answer questions and offer guidance through the mortgage process, as needed. They were always friendly, knowledgeable, and professional. They always made me feel appreciated and respected. I would definitely recommend them to anyone looking for a mortgage. Also, their communication along the way is top notch. I loved having my Rocket Mortgage account online that I could watch my To Do List or see the status of all aspects of the process.


MELISSA

03 June, 2021

trustpilot-stars

The process was so smooth and everyone…

The process was so smooth and everyone I worked with was super knowledgeable, professional and kind! Thank you so much for making what usually is a stressful event into something that was quite enjoyable!


ETHAN

03 June, 2021

trustpilot-stars

Quick

Quick, easy, fast, friendly, professional, and a life changing experience.


ZACHARY BROWN

02 June, 2021

trustpilot-stars

Easy experience and great team that…

Easy experience and great team that helped me close on my mortgage.


MIKE PATE

02 June, 2021

trustpilot-stars

Great to work with

Great to work with. You made the process easy for me. Very knowledgable folks. Professional attitude.


JG

02 June, 2021

trustpilot-stars

From start to finish

From start to finish, the process was extremely smooth. Jad was very helpful and "pushed" the appraisal to get completed in a timely fashion. The closing was incredibly easy as well. A++


BILL VENABLE

02 June, 2021

trustpilot-stars

I had a very good experience with…

I had a very good experience with Quicken, everyone I dealt with went out of their way to assist or answer questions. thank you


GH

02 June, 2021

trustpilot-stars

Very pleased

During the initial review, the representative failed to consider all of our income and therefore denied our refi. Another representative contacted us, listened to us more intently, was able to confirm all of our income, got a better understanding and was able to get us approved. The process was easy, went smoothly and we feel good about sticking with our existing mortgage provider. We recommend Rocket Mortgage without hesitation.


CONNIE G

02 June, 2021

trustpilot-stars

Rocket mortgage made my refinance so…

Rocket mortgage made my refinance so quick and easy.


GEORGIA DANCY

01 June, 2021

trustpilot-stars

Quick Loan Process

The loan officer was very knowledgeable and explained all of the terms of the loan. He answered all questions no matter how many times that I called. He called me back the same day. The loan process was quick and the loan closing was sooner than what was specified.


JEREMY WILLIAMS

01 June, 2021

trustpilot-stars

Rocket fast closing!!

I saw a commercial Sunday evening, opened an application on my cell phone and 15 minutes later got a text and a call from a loan officer. Received an email the next day with the documents needed and by Thursday they were asking for a closing date!! Competitive rate and a very easy process. The closing agent even came to my home!!


ABOU CARLO

01 June, 2021

trustpilot-stars

Rocket mortgage for it was the easy way…

Rocket mortgage for me it was the easy way to apply for refinance, from the first day to the last everyone called me or picked up the phone was nice. My case was a special case but they understand my case and work on it carefully till we schedule the closing date. Spacial thanks to Joe Malek. I can refer a relative or friend and I am sure they will be satisfied same as me. Thank Rocket Mortgage.


ERIC S.

01 June, 2021

trustpilot-stars

Tony was great

Tony was great! He is very knowledgeable and helpful. He made the initial application and approval process much easier and less stressful than I anticipated. We closed on time without any issues so I’m very happy.


BELINDA DECKER

01 June, 2021

trustpilot-stars

Good experience

Good experience. The agent we worked with was polite, knowledgeable, took time to explain process. He called or emailed to make sure I understood each step of refi and kept me informed. Very quick process!


DEB OMAN

01 June, 2021

trustpilot-stars

We have used Rocket Mortgage multiple…

We have used Rocket Mortgage multiple times for refinancing. Whether it is to get a lower interest rate of to secure cash out for upgrades or just to have cash on hand, every transaction has been seamless. All of the Associates have been mature, knowledgeable and very polite.


J CALDERON

31 May, 2021

trustpilot-stars

Experience has always been great!

Experience has always been great!


MP

29 May, 2021

trustpilot-stars

Excellent experience

Honestly, I was a bit skeptical about an all-online mortgage for our refinance, but working with Rocket Mortgage was easy, transparent, and successful. We have done mortgages with several different brick & mortar banks over the years and it always seems like it takes too long and we end up less than satisfied. Rocket Mortgage was very fast, in fact it was only 23 days to closing from when I first went to their website. Communication was good every step of the way. I can’t speak to how smooth it would be for purchasing a home, but for a refinance it was about as simple as I can imagine without cutting corners.


NATASHA

29 May, 2021

trustpilot-stars

Great service!

Great service! Everyone was very professional and walked us through the process. When we did have questions, they were always answered in a timely matter. Very satisfied and will recommend.


KRISTEN DIRSCHEL

29 May, 2021

trustpilot-stars

Straightforward and easy

Straightforward and easy. Legal coming to our house was the best.


JASON SKINNER

29 May, 2021

trustpilot-stars

Quick and easy!

The whole process was quick and easy and Hank helped guide me through the entire thing. I would highly recommend rocket mortgage to anybody looking for a quick and easy experience. Because


CUSTOMER

28 May, 2021

trustpilot-stars

Troy was extremely knowledgeable

Troy was extremely knowledgeable, personable and patient with me throughout the entire process.


JEREMY EIRICH

28 May, 2021

trustpilot-stars

Easy peazy

This loan process was very simple and easy when compared to more traditional lenders. There was no hassle in the closing of the loan either. Basically a seamless process. Never going anywhere else for a mortgage or loan.


ROB CREIGHTON

28 May, 2021

trustpilot-stars

Gary was great to work with and is the…

Gary was great to work with and is the main reason why I stayed with Rocket.


HOLDEN A

28 May, 2021

trustpilot-stars

My VA refinance was quick and smooth

My VA refinance was quick and smooth. The team I worked with was quick to answer any questions and kept me up to date all along the way. The Quicken app was also very user friendly and helped keep the process running on schedule. I have and will recommend to anyone looking to refinance their home loan.

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Rate of 1.75%, Annual Percentage Rate (APR) of 1.808% and $0 fees are for a 15 year fixed refinance loan available through Better Mortgage Corporation (NMLS#330511) based on Excellent Credit Score, Single Family Home, Primary Residence, in the state of CO, with an anticipated mortgage balance of $540,000, and property value of $600,000 as of 04/23/2021.

Assurance IQ, LLC (“Assurance IQ”), NMLS #1912050 (nmlsconsumeraccess.org) is a lead generator only and is not acting as a mortgage broker except in Florida and Colorado; see our current state licenses here. Assurance IQ is also not acting in the capacity of a mortgage loan originator, mortgage correspondent lender or mortgage 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.

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