Rocket Mortgage Review

About Rocket Mortgage

Rocket Mortgage

Goodbye, Paperwork.
Automatically share your financial information with Rocket Mortgage to save time and improve accuracy.

Real Solutions. No Gimmicks.
Get an intelligent, customizable mortgage solution based on today’s rates.

Get Approved Fast.
Get an approval to buy a home or refinance your mortgage in minutes.

review breakdown

Interest Rates
Fees & Closing Cost
Customer Service

What they're saying about Rocket Mortgage

Read All Customer Reviews

What is Rocket Mortgage?

Rocket Mortgage launched in 2015, but it’s not exactly a newcomer in the mortgage origination arena. The fully online mortgage application and approval system is part of Quicken Loans, originally called Rock Financial, which was founded in 1985 and purchased by Intuit in 1999.

Quicken Loans rolled out Rocket Mortgage with an eye toward simplifying the mortgage process. According to its website, Rocket Mortgage borrowers can shop for a mortgage online and get preapproved in minutes by creating an account, answering a few questions and securely sharing their credit and financial information.

Working with Rocket Mortgage

When you work with Rocket Mortgage, you’re working with Quicken Loans. Rocket Mortgage is essentially a platform to apply online for a Quicken Loans mortgage.

Rocket Mortgage is available in all 50 states and the District of Columbia. It is currently not available in Puerto Rico or anywhere outside the U.S. Because Quicken Loans is an online lender, it does not have offices that are open to the public. Instead, you’ll start the application process online and may communicate with a Rocket Mortgage home loan expert, either online or by phone, to answer questions and get information about the status of your mortgage.

The minimum credit score required by Rocket Mortgage depends on the type of mortgage program you choose. For conventional and VA loans, the company typically requires a credit score of 620 or higher. For FHA loans, the minimum credit score is 580.

Borrowers with grey areas in their application — those who have low credit scores, need a cosigner or have self-employment in their income history — can start the application process online with Rocket Mortgage but likely won’t be able to do everything online. A Quicken Loans home loan expert will contact you to gather additional information needed to manually underwrite the loan.

Rocket Mortgage offers loans for:

  • Single-family homes
  • Multifamily homes (2-unit limit for FHA; 4-unit limit for VA and conventional)
  • Condominiums
  • Second homes or investment properties

Rocket Mortgage products

Finding details on the mortgage products Rocket Mortgage offers via its website is tough. It does not share details on its loan products or provide educational resources for consumers. Instead, the site appears to be designed to funnel visitors into using the application.

Quicken Loans’ website offers more of the information you’d expect from one of the nation’s largest mortgage lenders. Since Rocket Mortgage is merely a fully digital experience for applying for a Quicken Loans mortgage, here are the mortgage products offered by Quicken Loans.



Home equity

Rocket Mortgage special programs

Again, Rocket Mortgage’s website doesn’t provide much information on products. However, Quicken Loans does offer a proprietary mortgage product. Called YOURgage®, this program offers custom loan terms ranging from eight to 29 years with a fixed interest rate and down payments as low as 3%.

The mortgage application process

How to apply. When you visit Rocket Mortgage’s website, you’ll fill in some basic information — this includes your name, email address, credit score range and whether you currently own a home. If you’re already a homeowner, Rocket Mortgage asks whether you intend to sell your current home before buying a new one. It also asks whether the new home will be your primary residence, a second home or investment property. In addition, if you’re married, it asks for the name and email address of your spouse.

The next part of the Rocket Mortgage application process involves giving the lender information on your assets, including checking and savings accounts, stocks, other investments and retirement accounts.

If you want, you can select “Find My Accounts.” This authorizes Rocket Mortgage to use its third-party network to digitally integrate with your bank and import information on your income, bank balances and other assets. If you’d prefer, you can manually enter details about your assets. Basically, you’ll log in to your bank accounts through Rocket Mortgage.

From there, you’re asked to provide typical loan application information, such as employment information, and answer the standard government questions. In many cases, you can upload documents digitally simply by taking a photo with your smartphone. You’ll also authorize Rocket Mortgage to pull your credit report.

Within minutes, you can get a mortgage quote and download your approval letter to start shopping for a new home or put an offer on a home you’ve already found. If you have a question anywhere during this process, there’s always a “Chat Now” bubble in the lower left-hand corner of your screen that will connect you with a home loan expert.

Submitting loan for approval. Once you have your approval in hand, you can start looking for a house or make an offer on a home you’ve already identified. Rocket Mortgage will lock your interest rate for up to 90 days with its RateShield Approval process. This ensures your interest rate and monthly payment won’t go up while you search for the right home. Once you find a home, if the seller accepts your offer — or presents a counter-offer that is acceptable to you — your Rocket Mortgage home loan expert will order an appraisal on your behalf.

Final approval. Some borrowers may be able to get through the application and preapproval process completely digitally, without speaking to a home loan expert. However, you will likely need to speak to a home loan expert, either via phone or online, in order to coordinate the appraisal, finalize your loan and schedule closing.

Closing. When Rocket Mortgage first launched, critics were quick to point out that Rocket Mortgage borrowers went from a fully digital experience to a more traditional process, involving a mountain of paperwork, when the closing process began.

But, in 2017, Quicken Loans announced a new partnership with Pavaso, an e-closing platform — now, borrowers can scroll through their closing paperwork online and e-sign each document. Of course, many of the steps that lead up to the closing, including inspections, appraisals and final walkthroughs, still need to happen in person.

Communication during the process

Once you submit your application, Rocket Mortgage will assign a home loan expert to be your main point of contact throughout the process of finalizing your application, choosing a loan and closing. You will communicate with your home loan expert via phone or online. If, for some reason, you can’t reach your home loan expert, you can reach a Rocket Mortgage representative via phone or chat online seven days a week.

Pros and cons of a Rocket Mortgage loan


  • A variety of mortgage loan products for borrowers to choose from
  • Preapproval process is fully digital
  • Integrates with your bank accounts to retrieve financial information
  • Available in all 50 states and the District of Columbia
  • Easy to comparison-shop online


  • You can talk to a loan expert online or by phone, but if you want to meet with your lender in person, Rocket Mortgage is probably not the right choice for you.

Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.

The information in this article is accurate as of the date of publishing.