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Quicken Loans vs. Rocket Mortgage
Both mortgage lenders are owned by the same company, but how do loan programs, fees and requirements stack up?
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How do Quicken Loans and Rocket Mortgage compare?
- Choose this lender for great customer service
- Choose another lender if you don’t want to meet with a loan officer
- A good option for borrowers looking for flexible repayment terms
- Choose this lender for fast turnaround times
- Choose another lender if you want to meet your loan officer in person
- A good option for borrowers who prefer a fully online application process
Loans offered
- Purchase
- Refinance
- Jumbo
- Home Equity
- FHA
- VA
- USDA
- Purchase
- Refinance
- Jumbo
- Home Equity
- FHA
- VA
- USDA
Neither of these seems the right fit?
Minimum credit score
Conventional: 620
Conventional: 620
States available
Available in all states
Available in all states
Pros
- Wide selection of mortgages
- Online loan support
- High loan amounts
- Verification in minutes
- Fully online process
- Fast turnaround
- Multiple loan & repayment options
Cons
- Application deposit
- Hard credit pulls
- Application deposit
- Some loan types unavailable
Customer reviews
The Better Business Bureau gives Quicken Loans an A+ rating, while Trustpilot awards Quicken Loans a 9.6 out of 10. Most reviews praise the attentive, personalized service they receive from its mortgage officers. Even when dealing with multiple representatives, borrowers report a keen attention to detail. Borrowers liked using Quicken Loan’s MyQL to track the progress of their loan.
However, some complaints point to hard credit inquiries without authorization during the application process. There’s also reports that loan advisors were aggressive when trying to close the loan.
Rocket Mortgage looks good online. Trustpilot gives the service a 9.4 out of 10 based on more than 1,000 reviews. Most customers speak highly of its speedy application process and responsive customer service.
Rocket Mortgage’s parent company, Quicken Loans, earns a solid A+ from the Better Business Bureau. And of the 2,505 customer reviews as of this writing, a whopping 2,160 are positive — a nearly unheard-of breakdown when it comes to other lenders.
It’s not all rosy, however: Some borrowers warn of poor account communication among loan officers. Others report submitting the same documentation multiple times as a result.
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