Does Rocket Mortgage service its own loans?

Yes, for the most part. Rocket Mortgage services almost all its loans except jumbo loans, which means your loan won't be sold after you close. With the Mr. Cooper acquisition, Rocket's servicing capabilities are now the largest in the industry.

What is the downside of Rocket Mortgage?

It doesn't offer as many mortgage options as some lenders. It doesn't provide USDA loans, HELOCs, construction loans or loans for manufactured or mobile homes. And because it's fully online, you won't get the personalized experience of working with a local mortgage broker.

Can I use Rocket Mortgage if I'm self-employed?

Yes, but you'll need to provide additional documentation like profit and loss statements, business bank statements and tax returns.

How long does it take to close with Rocket Mortgage?

Rocket's digital process can speed things up, but typical closing times are still 30–45 days, similar to other lenders. Bridge loans can be funded in as little as five days.

Lacey Stark, Writer at Finder

Lacey Stark

Writer

Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf.

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