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Rocket Mortgage
See rates
Minimum credit score
Conventional: 620
VA: 580
FHA: 500 (with 10% down), 580 (with 3.5% down)
Jumbo: 680
Home equity loan: 680
Refinancing: 580
Minimum down payment (Conventional)
3%
State availability
Available in all states

Our verdict

A fully digital mortgage company with competitive rates but no USDA loans or HELOCs.

Rocket Mortgage provides conventional, jumbo and government-backed mortgages using an entirely digital process, from getting a quote to making your first mortgage payment. Its digital system means you can get your quote in minutes and may be able to close faster than with more traditional mortgage companies. And it provides a number of special offers for buyers and sellers. But it doesn't offer specialty loans, USDA loans or home equity lines of credit (HELOCs), and it requires a hard credit check to get preapproved. It also doesn’t have branch offices, which can be a turn-off for homebuyers who prefer a more personalized experience.

Best for: Qualified borrowers looking for a digital experience and quick decision.

Pros

  • Provides conventional, jumbo and government-backed loans
  • Fast approval process
  • Special offers for buyers and sellers

Cons

  • Doesn’t offer USDA loans or HELOCs
  • No branch offices
  • Requires a hard credit check to prequalify

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

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

Loan products offeredConventional, Jumbo, FHA, VA, Refinance, Home equity loan
Minimum credit scoreConventional: 620
VA: 580
FHA: 500 (with 10% down), 580 (with 3.5% down)
Jumbo: 680
Home equity loan: 680
Refinancing: 580
Minimum down payment (conventional)3%
State availabilityAvailable in all states
FeesExpect to pay between 3% to 6% in fees and other closing costs, including:
  • Origination fee: About 1% of your loan to cover administrative costs
  • Application fee: Up to $500
  • Ongoing fees: Read your loan’s fine print for ongoing fees or penalties, like early repayment fees or late fees
  • Third-party fees: You may pay fees for services like an application fee for your private mortgage insurance or taxes on the home’s purchase
NMLS#3030

Rocket Mortgage contact info

Phone number888-452-8179
Customer service hoursWeekdays: 7 a.m. to midnight ET
Saturday: 9 a.m. to 8 p.m.
Sunday: 9 a.m. to 7 p.m
EmailNot listed
X, formerly Twitter@RocketOTD
Facebook@Rocket

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.

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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.

1 - 2 of 2
Product Loan products offered State availability Min. credit score
Rocket Mortgage logo
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.
Veterans United logo
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.
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Rocket Mortgage reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 1.46 out of 5 stars, based on 734 customer reviews
Trustpilot Score 4.7 out of 5 stars, based on 36,142 customer reviews
Customer reviews verified as of 09 April 2025

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.

What do people on Reddit say?

Some Redditors report having used Rocket Mortgage multiple times with great success and praise the easy process and user-friendly portal and app. Others complained of higher rates and closing costs than competitors, and some recommended using a local mortgage broker for a more personalized experience.

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.

Your reviews

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Lacey Finder

Writer

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gezae

June 28, 2019

what is the closing cost for refinance?


Avatar

Bella Finder

June 28, 2019

Hi Gezae,


Thanks for your inquiry.


According to Rocket, there is no closing cost for a refinance loan with Rocket Mortgage. They’ll automatically roll all your closing costs into your loan to make refinancing more affordable.


I hope this information helps.


Kind regards,

Bella


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Don

April 29, 2019

Do you allow refi for landlords rentals? If so, what is the LTV consideration, and other requirements?


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johnbasanes Finder

April 29, 2019

Hi Don,


Thank you for reaching out to Finder.


Here are the general eligibility requirements for taking out a loan with Rocket Mortgage.


Minimum personal credit score of 580 for FHA loans, 620 for conventional and VA loans and 700 for jumbo loans

Minimum down payment of 3% for conventional loans

$400 to $750 application deposit


For other specific requirements depending on the type of loan you want to take out, you may need to contact Rocket Mortgage directly. Hope this helps!


Cheers,

Reggie


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