Rocket Mortgage Reviews - What Is It?

WARNING: DO NOT BUY Rocket Mortgage Until You Read This Review!
Is it a Scam? Does It Really Work?

Before discussing Rocket Mortgage it is necessary to stop on Quicken Loans for a minute. This service is created specially for people who have too little time to go to the bank, but find it very convenient to order a loan online. It describes the application process as, "push button and get mortgage." The application process takes place completely online but you can consult mortgage advisors if you need a human touch. The official website also offers a wide variety of loan products, making Quicken a leading and the largest mortgage lender in the country. Actually, Rocket Mortgage is Quicken's interface that can be found only online. You can easily upload the necessary financial information and get a loan decision in just a few minutes through the official website or mobile app. Rocket Mortgages offer the same underwriting standards as Quicken Loans, as well as provide you with high-tech access to major loan programs.

You can get fixed-rate loans of 8 to 30 years with 5/1, 7/1, 10/1 ARMs. To get funds you will need to have minimum credit score of 620 (580 for FHA loans). Rocket also provides adjustable-rate home loans, FHA and VA loans, mortgage refinancing, and "jumbo" loans. Today it is considered to be the second-largest retail mortgage lender behind Wells Fargo. It has given nearly $96 billion in mortgages in 2016. It has become even more virtual since its founding. It is a service portal, not a separate company. You can talk to a mortgage advisor anytime by choosing the "Talk to Us" button; however, the website caters to users who want to apply for a home loan without talking to a human contact. As you can see, Rocket Mortgage gives the client a possibility to pick their interest rate, price their own loan, and pick the points, and so on. Thus, it allows them to e-sign without speaking to anyone.

Customer Reviews - Does Rocket Mortgage Really Work?

There is a great variety of testimonials from real cardholders on different websites. These people tend to be satisfied with their cards for many reasons. First, the Rocket Mortgage is able to instantly verify income and employment for more than 60% of working Americans. Having your authorization, the site gives you access to asset statements from 95% of U.S. financial institutions. The website will almost immediately inform you the loan amount you can qualify. In addition, it offers fixed-rate loan terms from eight to thirty years. You can benefit from FHA-backed loans and products offered by Freddie Mac and Fannie Mae. These products require down payments of 3%. Rocket Mortgage's asset and document retrieval capabilities will undoubtedly help you to save time and effort.

According to statistics, Rocket Mortgage users are more likely to purchase than refinance. They appear to be younger than expected and usually have a better credit than Quicken Loan users. The company focuses on their client and their individual needs. If you decide to apply for a refinance or purchase mortgage through Rocket, you will need to create an account and provide your information including your home address and the year your home was built, as well as income details, your Social Security number. It is really easy for the person to fill out this information online. Your information will be immediately verified electronically. Next, you will need to enter your asset information or have it imported. The company can easily pull data about products such as savings, checking, and investment accounts from 95% of U.S. financial institutions. After that, you will see a big green button saying "See My Solution." Just click on it. Rocket will base their decision on your credit score and history. You will see "T-Minus' countdown on the screen but it will soon be replaced by details about the options of your customized mortgage. You will be able to change the loan term, closing costs, and interest rate. Then click the "See If I'm Approved". If you get a loan approval, you can start waiting for your mortgage really soon. You may print out an approval letter and start house hunting. If you receive a denial of your application, you can talk to a mortgage banker online to find out the reasons for this. In general, Rocket Mortgage has a positive client satisfaction online but it would be a great idea to take a look at some of the real users' reviews.

"I reached out to the CEO after looking for his contact information on Rocket Mortgage website. I called him and he listened to my issues. I was surprised with his patience. He promised to fix all of the issues as soon as possible and he did. I like this mortgage because I do not have to pay anything extra. I am really pleased with their customer service. Despite some of my complaints, I am satisfied with the process of completing the loan. Many companies would ignore my complaints. I received the money in a week. Thanks!"

"In general, I liked my experience with RocketMortgage but there was a delay in the process. I had to wait for test deposits to show in my account for three days. My interest rate was the lowest when compared to other companies. It was super easy to apply and get the loan. Actually, this is the best option if you find yourself in need of immediate funds."

"I talked to Joelle online and asked many questions. She was honest and very helpful in her answers. She even gave me encouragement for the further process saying that it would be easy. Joelle was right as I am enjoying my experience with this company. I did have difficulty uploading some of the documents, but it turned out to be an operator's error. I am going to get my loan in 1-3 days. I do recommend Rocket Mortgage!"

My Final Summary

Rocket Mortgage can be a great home lender for many customers, as the company focuses on meeting the needs of each client of theirs. This is a good option for people who are looking for immediate approval, want to speak to a loan officer and get their money as soon as possible. Self-employed people with fluctuating income, as well as those starting a new business will also benefit from Rocket Mortgage. It will be of great help to those who have poor credit or need a loan to buy a second home.

If you look for Rocket Mortgage reviews online, you will see that most of their customers are pleased with the overall loan process. They will customize their decision based on your assets, income, interest rates, property, products they offer, pricing, and underwriting guidelines. "The system will figure out the best option for you. Rocket's application and approval processes are usually easier and faster than with other mortgage lenders. With this in mind, I can recommend Rocket Mortgage.

Rocket Mortgage Pricing and Rates

The company advertises low rates; however, these are based on a few factors, including your income, credit history, your ability to pay out the loan and so on. If you want to know exact pricing, you should use a specially created calculator available on the official website. If you have any questions you may contact the customer service by phone or through the online chat.