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Rocket Mortgage: Review

  3,678 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   3,678 Reviews

trustpilot-stars

MARLINE

06 December, 2021

trustpilot-stars

Experience was good except still…

Experience was good except still haven't gotten copies of the paperwork/contract. Contacted everyone i had numbers for and noone seem to know why i haven't gotten them. Still waiting.... Marleen Sallee


JESSE GOLDIN

05 December, 2021

trustpilot-stars

Very easy to work with.

Very easy to work with.


THOMAS WHITFIELD

05 December, 2021

trustpilot-stars

Rocket Mortgage are rock stars

Rocket Mortgage made the process so easy, hassle free, and quick. I would recommend my friends and family use them.


ELMER JOHNSON

04 December, 2021

trustpilot-stars

Rocket Mortgage made our experience…

Rocket Mortgage made our experience very easy, and kept us informed of everything throughout the process.


EUGENE PERREAULT

03 December, 2021

trustpilot-stars

very happy on howe easy it was to…

very happy on how easy it was to refinance my home.


TRAVIS BUCKLEY

03 December, 2021

trustpilot-stars

Had a bad experience

Had a bad experience. Started to apply for a mortgage. They told me my credit was over 100 points lower than it actually. I check my credit file every month, and was using same Fico scoring they said they use. Was willing to screenshot and share file with them. Something was wrong on their end and they did not want to even talk. They completely cut the conversation off.


CHARLES R FELLOWS

03 December, 2021

trustpilot-stars

Great experience with Nick!

Great experience with Nick!! He took the ball and ran with it and picked bills to pay off that made sense. He was also very professional!! Enjoyed working with him!


JAMIE PROVENSAL DIAMOND

03 December, 2021

trustpilot-stars

My escrow being netted was NEVER…

My escrow being netted was NEVER discussed. I called twice about closing costs being high and was told BOTH times my escrow from my old mortgage would be refunded back to me so it would offset the insurance taxes portion of the closing costs. When my payoff was ordered and received NO ONE discussed what escrow netting was so to my surprise my escrow isn’t refunded via a check mailed to me as what was discussed. My expectations were my payoff was just that....a PAYOFF (not including netting of my escrow). When you tell a customer their payoff is received, escrow will be refunded via a check in the mail (approx $3,000), AND they will get a little over $26,000 to make improvements to home then THAT is what a client expects. I feel that I was misinformed, mislead, and duped into closing on a loan when I should have shopped closing costs like I wanted to! Lesson learned. I will NEVER do business with Rocket Mortgage again! I spoke to Sandra. My concerns were not addressed. I was basically told how the transaction went (opps sorry the banker told you a refund check for your FULL escrow balance would come in the mail) and there was NO CONCERN regarding me feeling mislead, no review of phone conversations between me and the banker, and clearly the company could care less that their bankers do not communicate clearly and concisely! As long as the mortgage gets closed they don’t care how it was done!! No accountability! Loan was closed...who’s the next sucker in line! Banker cashed his commission check...next!


DELISE

03 December, 2021

trustpilot-stars

I previously did not qualify to…

I previously did not qualify to refinance through another company. Rocket found a way! I closed in less than a month! It was seamless. My advisor was kind, warm, and knowledgeable. I would recommend Rocket to anyone!


STEPHEN HOWARD

02 December, 2021

trustpilot-stars

My experience with the Rocket Mortgage…

My experience with the Rocket Mortgage process was very pleasing. The documentation process was easy, the customer support was very knowledgeable and helpful!


BARB SCHOLES

02 December, 2021

trustpilot-stars

Very friendly

Very friendly. Organized everything efficiently, quickly and correctly. Would recommend to others.


JESSICA HART-HOWARD

02 December, 2021

trustpilot-stars

Best experience ever

Best experience ever! So easy! Kyle, our broker was amazing!


LELA JACKSON

02 December, 2021

trustpilot-stars

As always working with rocket mortgage…

As always working with rocket mortgage on my refinance was so easy.....Not at all stressful !


JD

01 December, 2021

trustpilot-stars

Happy Rocket repeat customer

So easy to work with, love that everything can be done on the website. Anyone who answered the phone was super helpful. Kept me informed throughout the process. For closing they had someone come to my house to sign all the forms - talk about great customer service!!!!!


KAREN DECESARE

01 December, 2021

trustpilot-stars

The online people were excellent

The online people were excellent. They walked us through the process and were very patient as we aren't the most tech savvy. They explained everything and were courteous and friendly. It is rare to find good customer service but they were awesome. Thank you!! Our closing agent was also wonderful. She was efficient, careful with each document and a joy to work with!! Thank you!!


JACHEARTS14

01 December, 2021

trustpilot-stars

The experience was surprisingly pleasant!

The whole process was so easy. Most of the tedious work was done by Rocket Mortgage and their closing agent (also a great experience). It was a very small issue when we had to change the closing date. Everyone was as friendly and helpful as possible! The reason for a less than perfect score has to do with something that they may not have been able to foresee; the original amount of proceeds that we would obtain from the refi grew to be less and less over the process. It was a little disappointing and, in all honesty, a $10 reduction was due to our changing the closing date (which is a more than reasonable penalty). I just think that they shouldn't get your hopes up without having a sure figure from the beginning. Other than that, we were extremely pleased! If we could make a 4.75 star rating, that would best describe our true feelings.


WILLIAM WATSON

01 December, 2021

trustpilot-stars

Great, then greedy

Rocket Mortgage was great…. was… my refinance process went smoother than my first mortgage and I was very satisfied. Fast forward six months to today where I am receiving cold calls a few times a day. One left a voicemail saying there has been a change in my mortgage and I must call. caller ID showed Rocket Mortgage and it ended up being legitimate. When i connected to a customer service rep, he immediately referred me to a sales person (they call them mortgage bankers) who began talking about refinancing. Although I explained I refinanced with Rocket just six months ago, he continued to try to sell another refi…. what a joke, seriously! Without asking i got his contact info texted to me, and the “think about all you could do with a little extra cash”….. who in the right mind would do two refi’s in a year let alone six months apart. These guys are not at all interested in what’s best for you, I gave them my business and they continue to go after more money months later trying to sell what is horrible financial advice. Will not at all consider using Rocket Mortgage in the future.


VALUED CUSTOMER

01 December, 2021

trustpilot-stars

Rocket-tastic

First of all I was amazed how modern and quick and accurate and painless everything was. I mean compared to our first mortgage - which was only 30 years ago - Rocket made that seems like it was 3000 years ago, technology-wise. The people were all very helpful, the call center was knowledgeable, and just great to work with. Someone recommended Rocket to me and said how wonderful they were, and I said “yeah right; no one is that good.” Well they are.


RON REEVES

30 November, 2021

trustpilot-stars

From start to finish this was an…

From start to finish this was an enjoyable experience getting my mortgage with Rocket.Even with a couple of speedbumps,it was very easy to close my loan.


DALE MORRIS

29 November, 2021

trustpilot-stars

It was easy!

We had a great experience working with RocketMortgage.


KRISTIN

27 November, 2021

trustpilot-stars

Terrible…don’t use them!

Worse experience getting a mortgage…. and we have 2 properties and have had 3 mortgages and refinanced once. Called on Monday after finding a house we were going to place an offer on. Spoke with Florida agent (where house is but we are located in PA). Told him we were putting an offer in a house in Florida and he said he would send me a link and I could fill out everything online. I told him I would need to wait until Wednesday when I got back home and I could access all my records. Wednesday I completed the application and I texted him to let him know that I had some questions and he said he would get back to me in the following Monday. This was over the Thanksgiving holiday. I asked him if anybody else in his team could get back to me. I did not hear back. Someone called me Friday After Thanksgiving and told me everything was looking good. When we got to the point where he asked for the address of the property and the type of property when I told him it was a Doublewide on land that we would own on a canal he said that Rocket Mortgage doesn’t do loans for trailers even if you own the land and it is considered a single family home. So I then had to run around last minute on Friday and try to find another lender who would do this type of mortgage. I did but the lender was traveling working really hard to help me due to the holidays and by the time 6pm on Friday the same day the people excepted another offer on the house because they could show the prea letter. Rocket mortgage is the single reason that we lost this property. They pride themselves on turning around a preapproval in no time. However nobody in the beginning asked me any details about the property, the address, the type of unit. So don’t do business with this company if you actually want to get a loan in time to purchase the house your are interested in.


T GORDON MANGUM

26 November, 2021

trustpilot-stars

Responsive and Courteous

The loan process was smooth. My contacts were responsive and answered my questions when I had them.


MIKE M

26 November, 2021

trustpilot-stars

Care Free Process

Everything was very simple. The people I spoke to were all well informed and did a great job of explaining. This whole process could not have been any easier.


WILLIAM HAMILTON

26 November, 2021

trustpilot-stars

ALL IN ALL

ALL IN ALL, A VERY PROFESSIONAL EXPERIENCE, YOUR BANKERS WERE VERY HELPFUL, ESPECIALLY MRS. HAMILTON. THANK YOU VERY MUCH. WJH


JAMES

26 November, 2021

trustpilot-stars

Matt Victor did an excellent job

Matt Victor did an excellent job. He was pleasant, knowledgeable,and professional. Everyone I spoke with at Rocket was nice. The assessor was great and the lawyer from Amrock was prompt and answered all my questions. I would highly recommend Rocket to anyone asking about getting a mortgage.


RAY

25 November, 2021

trustpilot-stars

It took 30 to 35 days…

I am going to say it took 30 to 35 days to complete the refinance process. I have no complaints. Stacey at Rocket helped keep me on track. And kept me up to date on my goals. When I would call for any type of help. I could count on someone from the team to be their. This made everything move along smoothly. And I was able to relax and smile.


MARK

24 November, 2021

trustpilot-stars

Truly Awful Service

I have worked in the mortgage origination and servicing industry for years and am very familiar with how the process works. Every time I attempted to work with and resolve issues I had with Rocket no one would listen, understand, investigate and resolved. I was promised call backs that never happened. Finally I decide to just Refi with another company after 6 months. It cost me a bunch of money but well worth it. The list of issues I have are just to long to list here. The most concerning is they still owe me $3300 and after almost a month of not responding to me or working with me I am almost to the point that I am going to have to file a complaint against them. Mortgage servicing is highly regulated, I know it will not be good on their end if I go that route, anyone with any real knowledge at Rocket Mortgage would know that as well, however they won't you speak to anyone who knows anything or cares.


BAHER MANKABADY

24 November, 2021

trustpilot-stars

Professional

Professional, knowledgeable and very efficient address request within hours . I will be referring others because of my experience. Thank you Ali and Rocket team


EFFIE

24 November, 2021

trustpilot-stars

Great overall experience with rocket…

Great overall experience with rocket mortgage


CRAIG

24 November, 2021

trustpilot-stars

Working with Rocket Mortgage was quick…

Working with Rocket Mortgage was quick and easy. Everyone is so professional and very helpful. It doesn't get any better. I'll have too recommend Rocket Mortage to all my family and friends. Craig Moore


KARIN MERTZ YAHRAUS

24 November, 2021

trustpilot-stars

Easy application to use

Easy application to use. I was informed on the process on a regular basis


KEVIN HELLER

24 November, 2021

trustpilot-stars

From start to finish about 2 weeks

From start to finish about 2 weeks. I did't know that speed was even possible. Customer service communication was most excellent. Thanks!


TED DARDEN

24 November, 2021

trustpilot-stars

I believe that this is the third time I…

I believe that this is the third time I have used Rocket Mortage. The first time they were great and helped me each step of the way. I thought that they couldn’t get any better, but they surprised me the second and third times by being better and better. The staff is extremely helpful and knowledgeable. They were professional as well as friendly. I recommend their service to anyone in need of a loan or refinance!!!


TABITHA WALKER

23 November, 2021

trustpilot-stars

Refinance!!!

I refinanced and had the best experience. Everything, that was told to me happened. Great communication 👏🏾. Every step of the way I was notified. 30 days and I closed. I started with Mr cooper. Which was a horrible experience. Thanks 🚀 will definitely refer your services. THE BEST !!!!!!) RATE...


DANA DEVON DIXON

23 November, 2021

trustpilot-stars

Amazing support and very transparent…

Amazing support and very transparent throughout the process. This is my third house I have brought and first with rocket and I have no complaints! It was the most seamless process ever.


SAEED SAADAT

23 November, 2021

trustpilot-stars

Great and knowledgeable!

Great and knowledgeable!! A pleasure to work with !!!!


KATHERYN BRADFORD

23 November, 2021

trustpilot-stars

So easy!

So easy, so comprehensive and so thorough. This is our second refinance and we look forward to our continued future relationship!


HALEY PAVLOVICH

23 November, 2021

trustpilot-stars

Rocket mortgage was great

Rocket mortgage was great! Very helpful every step of the way. Thanks!


DAVID BAN

23 November, 2021

trustpilot-stars

The loan officer promised me the…

The loan officer promised me the Brooklyn bridge until it went to underwriting where the loan was denied. Unfortunately, Rocket Mortgage considers "one time" cost for expansion of a business as "expenses" and doesn't analyze these costs in the profit & loss statement. They don't care that these "one time expenses" resulted in 100% growth in revenue year over year. Furthermore, they can't comprehend how a business forced to shutdown for 3 months because of Covid ended up with less income than 2019. No extenuating circumstances for your net income in 2020 will ever be analyzed nor understood by this company. Nevertheless - we will find a mortgage company that will actual analyze a P&L statement versus just plugging numbers into an algorithm and spilling out a loan decision. Don't listen to anything your loan officer says at the beginning of the process - its complete BS. He doesn't really know whether your loan will get denied or approved. His goal is to just get your credit card and have you locked in with them. This company is the worst of the worst in the mortgage industry.


ROBERT D. KIRK, JR.

22 November, 2021

trustpilot-stars

Pleasant Experience

The most up-to-date technologies for uploading and downloading information are being implemented vigorously at Rocket, and for those individuals that are enabled to use it; processes are most streamlined. My wife and I are grateful to have had this option in that the whole refinance experience was made very efficient. Too, making payments follow in the same vein, "up-to-date technologies," which should make our entire relationship with Rocket pleasurable.


ANNA RIDDLE

22 November, 2021

trustpilot-stars

Process was really slow

Process was really slow. I called once to ask a question and the person I spoke with was not at all helpful. I was more confused after speaking with them. I did not appreciate the fact that a payoff statement was requested every week, and then was billed to my account. I was billed for FIVE payoff statements, which was ridiculous. I don't think I will be recommending Rocket Mortgage to anyone.


HEIDI

22 November, 2021

trustpilot-stars

Very nice to work with

Very nice to work with


MONICA FLOOD

22 November, 2021

trustpilot-stars

Rocket mortgage is actually Quicken…

Rocket mortgage is actually Quicken Loans. I actually quit the process because I felt like they were way too pushy for my liking. I started remortgage with Amerisave. They were patient and everything went as planned.


SEAN WILLIS

22 November, 2021

trustpilot-stars

The process was well coordinated and…

The process was well coordinated and made very simple with no surprises.


CHRISSY FOSTER

21 November, 2021

trustpilot-stars

This was the easiest process

This was the easiest process. You can tell that your mission was to make this a frictionless process for the applicant. Speed of service and attentive loan executive were amazing!


HEATH SHERRATT

21 November, 2021

trustpilot-stars

Horrible experience once we committed…

Horrible experience once we committed to them. They changed all fo our numbers, closing costs, impund amounts, appraisal costs. And the appraiser they worked with comped our house 50k lower that what we just had done with another company. They are so beuraucratic that they didn't even know we cancelled our loan with them. I am still getting emails and paper mail saying "we are getting close to closing on your loan!" Totally out of touch and clueless.


ANNETTE AND RICK FONTANETTA

20 November, 2021

trustpilot-stars

Rocket Mortgage is the way to go

Since the beginning of this process I have dealt with very knowledgeable and professional individuals who are a statement to the overall professionalism of the firm. The whole transaction was completed on time without a hitch.


EZRA HUNTER, JR

19 November, 2021

trustpilot-stars

Very fast and efficient with the refi.

Very fast and efficient with the refi.


JOHN LUTERO

19 November, 2021

trustpilot-stars

Refi

Happy w/interest rate & closing cost ,the people i dealt w/were very professional and polite , not so happy w/the appraisal but overall we were very satisfied w/the whole process , thank you!


BRAD WOOD

18 November, 2021

trustpilot-stars

Knowledgeable

Knowledgeable, timely, good service

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Rate of 1.75%, Annual Percentage Rate (APR) of 1.75% and $0 fees are for a 15 year fixed refinance loan available through Better Mortgage based on Good Credit Score, Single Family House, Primary Residence, in the state of FL, with an anticipated mortgage balance of $540,000, property value of $1,000,000 and an estimated monthly payment of $3,413 as of 08/16/2021. Monthly payment does not include taxes or insurance. ID: 380108943

Assurance IQ, LLC (“Assurance IQ”), NMLS #1912050 (nmlsconsumeraccess.org) is a lead generator only and is not acting as a mortgage broker except in the following states: AZ, CA, CO, CT, FL, OH, OR, PA; See our current state licenses below and online 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.

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. Connecticut – Mortgage Broker License #MB-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.

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