- Loan types
- Conventional, FHA, VA, jumbo, YOURgage and ONE+
- Minimum FICO score
- 580 for government-backed loans; 620 for conventional
- Minimum down payment
- 3%
- NMLS ID
- #3030
Rocket Mortgage is an online mortgage company developed by one of the largest national lenders (Quicken Loans). Loans are available nationwide. Borrowers can get conventional, jumbo and some government-backed loans with a rate lock of 90 days. No HELOC loans are available, but home equity loans are.
The application process takes place entirely online. The minimum credit score required depends on the type of loan you’re interested in (lower for FHA and VA). It can take up to three days to get preapproved, and the time to close averages between 30 and 45 days.
Some 80% of reviewers who commented on Rocket Mortgage’s customer service were happy or satisfied with the level of service they received.
Additionally, 43 individuals reviewed Rocket Mortgage based on its online service and app usage. Of these reviewers, 93% were satisfied with how Rocket Mortgage operates online and through the mobile app.
Reviewer Rebecca from New York said that she was extremely nervous to use an online mortgage company because it seemed too impersonal. But she was happy with Rocket Mortgage and said, “Any time I had a question, it was answered. They were knowledgeable, sincere, and efficient. Going with an online company I really thought it would be a lot of phone tag, emails, and waiting. I never waited more than an hour before someone replied, or called me to touch base.” She said Rocket Mortgage would also call her just to reassure her that everything was moving forward according to schedule.