Rocket Mortgage Review: Fast Process, 100% Online

Is Rocket Mortgage legit?

Yes, Rocket Mortgage is a legit mortgage company that’s been around since 1985 and has closed over 7.5 million mortgages. Formerly Quicken Loans, it officially changed its name to Rocket Mortgage in 2021. In March of 2025, Rocket announced it’s partnering with loan servicer giant Mr. Cooper and acquiring digital real estate broker Redfin.`

Like most legitimate online businesses, Rocket considers the protection and security of your data a top priority and uses bank-level encryption along with regular monitoring to ensure your safety. You can view its privacy policy and how it collects and uses your information on its website.

What makes Rocket Mortgage shine?

Rocket is the largest mortgage lender in the US for two reasons: It’s quick, and it’s easy.

Rocket has a digital application process that’s straightforward to use and a full customer service staff to help if you get stuck anywhere. You’ll get a quote and know how much you qualify for when you apply, and you can typically close your loan faster than with other mortgage lenders.

Rocket also offers a number of special programs for buyers and sellers. For example, it offers a discount of up to 5% off closing costs for renters, and its ONE+ program only requires a 1% down payment for qualified buyers. And sellers who use a Rocket Home partner agent could receive a rebate of up to $7,000 after closing.

Where Rocket Mortgage falls short

With all its mortgage options, Rocket Mortgage doesn’t offer specialty loans like contraction loans, bridge loans or others, and it doesn’t have USDA loans either. It also doesn’t offer HELOCs — if you want to access equity in your home, your only options are a cash-out refinance or a home equity loan.

And, because Rocket Mortgage is fully online, it doesn’t have branch offices. For people who prefer to have a dedicated loan officer, Rocket isn’t the place to go. Plus, some customers complain that having several people working on their loan resulted in having to submit documentation multiple times.

Rocket’s pre-approval process also requires a hard credit check, which can temporarily lower your credit rating.

Rocket Mortgage loan details

Rocket Mortgage contact info

Costs and fees

Costs and fees depend on the kind of loan you have, but typical costs include:

• Application fee. This fee may also be known as a “good faith” fee and could cost up to $500.
• Origination fee. This fee covers the cost of processing and underwriting your loan and costs about 1% of your loan amount.
• Closing costs. A number of costs and fees are typically rolled into a single payment and may include items such as taxes, insurance, recording fees, prepaid interest and other charges.
• Third-party fees. This can include appraisals, credit reports and other fees paid to companies other than the lender.

Calculate your monthly loan payments

Use our mortgage affordability calculator to get an idea of how much you can borrow and compare monthly loan payments based on different rates and terms.

How to qualify for Rocket Mortgage

Exact requirements can vary depending on the type of mortgage you want, but here are the basic criteria for a conventional loan:

• 620 credit score
• Debt-to-income (DTI) ratio of about 45% or less
• Two-year work history with proof of current, stable income
• 3% down payment
• Funds to cover closing costs

Required documentation

Here’s what most people need to provide to get started. Additional documentation may also be required.

• Government-issued ID
• Social Security number
• Pay stubs and W-2s
• Bank statements
• Tax returns
• Investment account statements
• List of monthly debts
• Rental information and landlord references, if applicable
• Gift letters
• Profit and loss statement, business bank statements and tax returns if self-employed or a business owner

How to apply

To apply over the phone, call 888-452-8179. You can also get started by creating an account through Rocket Mortgage’s site:

1. Answer questions about the property you plan to purchase.
2. Sync your bank account, allowing Rocket Mortgage to access your income and other information to automate your application.
3. View your customized loan options and select your loan to submit your application.

Rocket Mortgage conducts a hard credit check as soon as you apply. That means your credit score is impacted even if you don’t qualify.

How Rocket Mortgage compares to other lenders

Use our table to compare Rocket Mortgage’s rates, terms and features to other popular loan providers. Select See rates to visit the lender’s site and get started.

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Loan products offered (low-high)Loan products offered (high-low)Min. credit score (low-high)Min. credit score (high-low)

Product	Loan products offered	State availability	Min. credit score
Rocket Mortgage	Conventional, Jumbo, FHA, VA, Refinance, Home equity loan	Available in all states	620	Apply online for free and lock in your rate for 90 days.	See rates More info Compare product selection Compare	loading
Veterans United	Conventional, FHA, VA, USDA, Jumbo, Refinance	Available in all states	620	Veterans United stands out from other lenders for its focus on serving the military community.	See rates More info Compare product selection Compare	loading

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Rocket Mortgage reviews and complaints

The reviews on the Better Business Bureau (BBB) are largely negative. Customers complain of poor customer service, a lack of communication throughout the process and escrow issues. Some also accused the company of unexpectedly raising interest rates and multiple hard credit pulls.

Rocket Mortgage fares better on Trustpilot, with 4.7 out of five stars. Satisfied customers praise the knowledgeable and helpful team members and streamlined loan process. But others warn of poor account communication among too many different loan officers and report submitting the same documentation multiple times as a result. A few people also complain of having their loans denied days before closing.

Frequently asked questions

Does Rocket Mortgage service its own loans?

For the most part, yes. Rocket services almost all its loans except jumbo loans. That means your loan won’t be sold after you close, and Rocket continues to manage it for you.

What is the downside of Rocket Mortgage?

It doesn’t have as many mortgage options as some lenders. For example, it doesn’t have mortgages for manufactured or mobile homes, and it doesn’t offer construction loans if you’re planning to build. And, because it’s totally online, it doesn’t offer the type of personalized experience you can get from a local mortgage company.