Rocket Mortgage Refinance Review

#3 in Mortgage Refinance

Rocket Mortgage is a subsidiary of Quicken Loans that offers automated mortgage refinance services. The company gives customers access to customizable mortgage refinance based on real-time rates and their preferred loan terms and costs. Rocket Mortgage provides 24-hour security monitoring with bank level encryption to keep all customer financial information are secure during online transactions.   

 

Types of Home Mortgage Refinance

Adjustable Rate Mortgage

  • 5 Year ARM
  • 7 Year ARM

Fixed Rate Mortgage

  • 15 Year Fixed Mortgage
  • 30 Year Fixed Mortgage

Other home loan options

  • Home Equity
  • VA Loans
  • Refinance with HARP
  • FHA Loan
  • Reverse Mortgage
  • YOURgage
  • Jumbo Loan

Qualifying for Mortgage Refinance

Credit Score

620

Income to Debt Ratio

50% or more

Years Employed

2 years

Loan Terms

Up to 30 years

Requirements

  • Copies of W-2 forms
  • Copy of title insurance
  • Proof of income
  • Copy of homeowners insurance
  • Copies of asset information

Refinance Mortgage Rates

 

Interest Rate

APR

30-Year Fixed

3.50%

3.725%

15-Year Fixed

2.75%

3.162%

5-Year ARM

2.875%

3.683%

VA 5/1 ARM (1/5)

2.875%

2.967%

VA 20-Year Fixed

3.25%

3.453%

*Rates shown above are based on current rates updated on 9/15/2016

Why Mortgage Refinance at Rocket Mortgage

Rocket Mortgage offers homeowners a customized approach to mortgage refinance. With its services, homeowners are able to make decisions based on real-time rates and loan terms based on their unique needs. Rocket Mortgage’s automated mortgage refinancing offers the best in convenience with quick approval times in as little as 1 to 3 days.

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