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Rocket Loans personal loans review

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A fast personal loan with fair rates but potentially high fees.’s rating: 3.85 / 5.0


  • Best for borrowers with decent credit looking for same-day funding.
  • Pick something else if you want to avoid an origination fee.
Best of 2020
Finder experts pick Rocket Loans personal loans as a 2020 best pick for personal loans.

First, am I eligible?

You must meet the following eligibility criteria to apply with Rocket Loans:

  • Age 18+
  • Valid bank account
  • US citizen or permanent resident
  • At least two years of credit history
  • Credit score of 640+
  • Annual income of $24,000+


  • Check rate without affecting your credit score
  • Same-day funding for loans under $25,000
  • Friendly customer service with great reviews


  • Origination fee of 1% to 6%
  • Semi-strict credit and income requirements
  • Potentially high APR

Compare other personal loan providers

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Monevo personal loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Fiona personal loans
4.99% to 35.99%
Get loan offers from multiple lenders at once without affecting your credit score.
LendingTree personal loans
Starting from 2.49%
Good to excellent credit
Receive up to five loan offers in just minutes through LendingTree's simple online form.
SoFi personal loans
5.99% to 18.28%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 providers

Rocket Loans reviews and complaints

The majority of reviews are positive, but lack much detail. Customers are happy with the quick speed and good customer service, but a few were disappointed that they went through the entire application process only to receive a rejection in the final stages.

How do I apply?

To get started with your loan application online, follow these steps:

  1. Go to Rocket Loans and click See my options.
  2. Select the purpose of your loan and enter information about yourself and your employment.
  3. Review Rocket Loans’ disclosures.
  4. Click See My Options to submit your application.

What information do I need to apply?

You will need a few basic details to apply for a personal loan from Rocket Loans:

  • Date of birth
  • Social Security number
  • Annual income

What happens after I apply?

If you’re eligible for a loan, you’ll see the rates you qualify for. At this point, you’ll provide supporting documentation to verify your personal and financial information. Depending on when you submit your application, you may be able to receive your funds the same day you apply.

How do repayments work with Rocket Loans?

Rocket Loans’ personal loans come with monthly repayments made over three to five years — depending on the term laid out in your loan documents. You might want to sign up for automatic payments to avoid its $15 late fee, which it charges if it doesn’t receive your payment within 10 calendar days of your due date.

If you have any questions or are worried you might miss a repayment, contact RocketLoan’s customer service team by email, phone or live chat during business hours.

See how Rocket Loans compares to other lenders with our guide to personal loans.

Frequently asked questions

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

Expert review

Aliyyah Camp

Review by

Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.

Expert review

Rocket Loans is ideal for borrowers with decent credit who are looking for fast funding. Depending on what time you submit your application, you might be able to get your funds the same day you apply.

You can check what rates and terms you might qualify for without affecting your credit. And its customer service team gets rave reviews.

But if you don’t want to get hit with an origination fee of up to 6%, you’ll need to look elsewhere. You also could face an APR as high as 29.99% if you just meet its minimum credit score requirement of 640.

Not sure Rocket Loans is right for you? Compare your other options below.

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