Rocket Mortgage Review

Rating: 9.1 / 10 (Excellent)
Disclosure: We receive advertising revenue from this partner. 
Learn more.
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.

How is Rocket Mortgage rated?


Loan Specifics
Customer Experience
Qualification Requirements
Lender Reputation

Overall Rating: 9.1 / 10 (Excellent)

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 Mortgage Customer Experience

Loan Specifics - 10 / 10

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.

Type of Mortgage Loans

["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"]

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

Rocket Mortgage Customer Experience

Customer Experience - 9 / 10

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.

Online Features

Online Application
Online Quote
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Loan-to-debt Ratio Calculator
Help Articles
SSN Required for Quote

Rocket Mortgage Qualification Requirements

Qualification Requirements - 9 / 10

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%.

Key Requirements at a Glance

Minimum FICO Score
Minimum Down Payment
Non-Traditional Credit History Considered?

Rocket Mortgage Lender Reputation

Lender Reputation - 8 / 10

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

Company Profile

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

Leave a comment for Rocket Mortgage
Minimum 12 words.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

Customer Comments & Reviews

Loading Reviews ...
Gavin C
Phoenix, Arizona
STAY AWAY! Totally misinform customers and i caught them in multiple lies throughout the process. Terrible service thru their refinance team. Nobody assumes responsibility for their dishonesty. At closing increased loan amount by $6300. STAY AWAY AT ALL COSTS!!!&‬ Lied they had locked a rate, lied about not increasing loan balance on a refi(AND THEY HOLD MY CURRENT MORTGAGE)took 9 months to close, deceptive loan practices and very very VERY dishonest. I work in lending and would NEVER treat a customer with the arrogance and attitude QUICKEN Loans treated my wife and I. ******WARNING STAY AWAY***

Fitchburg, Massachusetts
Be careful of these people! Their originator (sales person actually) immediately tried to promote the highest interest-rate loan available, despite a 820 credit score. Bad news!

Shawn M
Monroe, Michigan
Misleading and misinformative. Their loan officers are mostly kids right out of college hyped up on Redbull and amphetamines who will say anything to get your "hand shake to do business". Save your time and money! Stay away from the rocket!

Our Partner
9.1 / 10
  • A streamlined loan application that can be completed entirely online
  • Get pre-approved and lock your rate in as little as eight minutes
  • Receive custom mortgage solutions based on your credit and finances
  • Automatically share information about your income and assets
  • Customize loan terms and costs to fit your budget