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Rocket Mortgage by Quicken Loans

by admin@thebestquotes

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Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans aims to redefine how consumers obtain mortgages through a simple, intuitive loan application process that can be completed 100% online, no human interaction required. Through the company’s platform and mobile application, customers can access customized mortgage solutions based on real-time rates and their own rate, term, and closing cost preferences.


Consumers Experiences at Rocket Mortgages 

Rocket Mortgage offers a truly comprehensive selection of fixed and adjustable-rate mortgages including conventional, government-backed, conforming, and non-conforming loans, as well as a build-your-own option that allows borrowers to select loan terms spanning anywhere from eight to thirty years. Although they don’t seem to offer prequalification, applicants can get pre-approved in as little as minutes and obtain loans for up to $1,500,000.

The Different Types of Mortgage Loans Offered

  • Fixed Rate 15 Year
  • Fixed Rate 30 Year
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM
  • Jumbo Fixed Rate
  • VA Fixed Rate
  • VA Adjustable Rate
  • FHA Fixed Rate
  • FHA Adjustable Rate
  • USDA Loan
  • Marketplace




Quicken Loans is a mortgage marketplace and subsidiary of Rock Holdings, Inc. Quicken has been accredited by the Better Business Bureau since 1986 and holds an A+ rating with the organization based on an overwhelmingly positive number of customer reviews. The enterprise has also received a high number of complaints, yet that is not unusual for a company of its size and nature. Since their inception in 2015, 7% of the company’s total earnings have come from Rocket Mortgage.

Key Facts

Lender Type
Year Founded
BBB Rating
BBB Positive Reviews
BBB Negative Reviews
Collection Date

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
The Nationwide Mortgage Regulatory Actions
Consumer Financial Protection Bureau Complaints

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Overall Review of Rocket Mortgage

Rocket Mortgage by Quicken Loans offers an ideal solution for people on the go. Their site and mobile app provide a simple, intuitive application that can generate the prospective borrower’s employment details from personally identifying information such as their Social Security number and date of birth. To top it all off, applicants can complete the entire loan process online, without ever having to meet anyone in the flesh. The company states pre-approval can be obtained in as little as minutes, yet the cost of such a convenient service is likely included in the closing fees. Rocket Mortgage ranks highly with us for their excellent customer support and streamlined application, but prospective borrowers are still advised to inform themselves about the loan products they are interested in and not to take their decision lightly.

Rocket Mortgages Other Customer Experiences

According to their advertisements, Rocket Mortgage allows consumers to apply for a mortgage and get pre-approval in as little as eight minutes. That means applicants must be ready to provide personal information such as their Social Security number, address, and date of birth. Through said details, Rocket Mortgage’s intuitive application will then automatically populate the applicant’s employment information. Although their website only caters to those already looking to apply, their parent company, Quicken Loans, does extend a host of valuable tools and resources including articles, calculators, and even a blog geared toward helping consumers better understand their financial obligations. Prospective clients should keep in mind that funding and closing times will depend on a multiplicity of factors, meaning the process could take significantly longer.
Other Features
Online Application
Online Quote
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Loan-to-debt Ratio Calculator
Help Articles
SSN Required for Quote




To qualify for a mortgage loan through Rocket Mortgage, applicants must have a minimum FICO credit score of 620 for conventional and VA loans. For FHA loans, however, the government-stipulated minimum of 580 still applies. Standard qualification requirements including having a stable income and sufficient assets will also be taken into account. Neither Rocket Mortgage nor Quicken Loans specify whether they set a cap for the debt-to-income ratio, yet some of their publications state that anything under 50% is still workable. In general, down payment amounts will depend on the borrower’s financial situation but can be as low as 3%.
Minimum FICO Score
Minimum Down Payment
Non-Traditional Credit History Considered?



Full Name
Rocket Mortgage
Company Website
1050 Woodward Avenue, Detroit, MI, 48226

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