Rocket Mortgage Review: Fast Process, 100% Online

Is Rocket Mortgage Legit?

Yes. Rocket Mortgage has been around since 1985 (formerly Quicken Loans) and has closed over 7.5 million mortgages. The company officially changed its name to Rocket Mortgage in 2021.

In 2025, Rocket made two massive acquisitions that reshaped the mortgage industry:

• July 2025: Acquired Redfin, a digital real estate platform with over 1 million listings and 2,200+ agents, in a $1.75 billion deal.
• October 2025: Completed a $14.2 billion acquisition of Mr. Cooper, the nation’s largest mortgage servicer.

These moves mean Rocket now handles everything from home search to loan servicing, creating what they call a “full homeownership platform.”

Like most legitimate online businesses, Rocket uses bank-level encryption and regular monitoring to protect your data. You can review their privacy policy on their website.

What makes Rocket Mortgage shine

• Fast and easy digital process. Rocket is the largest mortgage lender in the US because its online application is straightforward, backed by full customer service and typically closes faster than competitors.
• ONE+ Program for low down payments. Qualified buyers only need 1% down, and Rocket contributes an additional 2% (up to $7,000 on loans up to $350,000) if you meet income limits (≤80% area median income) and have a 620+ credit score.
• RocketRentRewards closing cost credit. Current renters can get a credit worth 10% of their past year’s rent (up to $5,000) with no income caps, valid only on primary residences.
• Redfin partnership benefits. Buy through a Redfin agent and finance with Rocket to choose either a 1% rate reduction for the first year or a closing cost credit of 0.75% of the loan amount (up to $6,000) for loans locked after July 1, 2025.
• Bridge Loans for homeowners. Access up to $500,000 in equity from your current home to cover down payment and closing costs on a new home before your old home sells, with interest-only payments on a six-month term.

Where Rocket Mortgage falls short

• Limited specialty loan options. Rocket doesn’t offer construction loans, USDA loans or HELOCs, and your only home equity options are home equity loans or cash-out refinancing.
• No physical branches. The platform is fully online, so if you prefer working with a dedicated loan officer in person, Rocket isn’t the right fit.
• Multiple team members can mean redundant documentation. Some customers report having to submit the same paperwork more than once because different team members handle different parts of the loan process.
• Hard credit check required for pre-approval. Unlike some lenders that offer soft-pull pre-qualifications, Rocket’s pre-approval requires a hard inquiry that can temporarily lower your credit score.

Rocket Mortgage loan details

Rocket Mortgage contact info

Costs and fees

Typical costs include:

• Origination fee: About 1% of your loan amount.
• Closing costs: Usually 3% to 6% of the loan amount, including taxes, insurance, recording fees and prepaid interest.
• Third-party fees: Appraisals, credit reports and other services.
• Bridge loan origination fee: 4.99% of initial draw (for bridge loans only).

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

Requirements vary by loan type, but here are the basics for a conventional loan:

• 620 credit score
• Debt-to-income (DTI) ratio of around 45% or less
• Two-year work history with proof of current, stable income
• 3% down payment (or 1% with ONE+ program)
• Funds to cover closing costs

Required Documentation

• 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 (if receiving down payment assistance)
• Profit and loss statement, business bank statements and tax returns (if self-employed)

How to Apply

You can apply by calling 888-452-8179 or by creating an account on Rocket Mortgage’s website:

1. Answer questions about the property you plan to purchase.
2. Sync your bank account to automate parts of your application.
3. View your customized loan options and submit your application.

Important: Rocket conducts a hard credit check as soon as you apply, which means your credit score will be impacted even if you don’t end up qualifying.

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	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

Complaints on the Better Business Bureau (BBB) mostly center on poor customer service, lack of communication, escrow issues and unexpected rate increases. Some customers report multiple hard credit pulls.

Trustpilot reviews are more positive, with customers praising the knowledgeable team and streamlined process. But some warn about poor communication among different loan officers and having to submit documents multiple times. A few people report having loans denied days before closing.

What’s changed in 2025–2026?

Major Acquisitions:

• Rocket acquired Redfin (July 2025) for $1.75 billion.
• Rocket acquired Mr. Cooper (October 2025) for $14.2 billion.
• Jay Bray (former CEO of Mr. Cooper) is now President and CEO of Rocket Mortgage.

New Product:

• Bridge loans launched in June 2025, allowing homeowners to buy before selling.

Legal matters to know:

• In October 2024, the Department of Justice filed a lawsuit against Rocket Mortgage, alleging appraisal discrimination and illegal retaliation against a homeowner who made a discrimination claim.
• The lawsuit follows an investigation by the US Department of Housing and Urban Development, which found that Rocket and other defendants engaged in discriminatory practices that violated the Fair Housing Act. This case is ongoing.