Loan variety, rates and fees are determined by Quicken Loans. It is not available to those in Puerto Rico, or anywhere else outside the U.S. Still, the company has higher rates than some competitors, so buyers most concerned with rates might prefer to look elsewhere. Home equity loans and home equity lines of credit aren't available. Overall lender rating. This is where Rocket Mortgage pulls your credit data and reveals your loan choices. As mentioned previously, it can be difficult to nail down the charges with Rocket Mortgage without applying. The main room for improvement would have been with my banker. Overall lender rating. Collectively, Americans hold close to $10 trillion in mortgage debt. His communication was amazing and he was always available whenever we had questions. You know the slogan: "Push button, get mortgage." Now find out what else Rocket Mortgage has to offer besides an all-digital lending experience. So I decided to shop around a little bit and was ready to move forward with another lender and then rates were beginning to dip so I thought I would reach out once more to Quicken. In addition, he failed to follow the wiring instructions for the disbursement of funds upon closing, which caused my husband to have to drive back to Wilmington while we were on vacation and go to the bank. They only said they were very competitive. Rocket Mortgage Reviews Applying for a home equity loan is similar but easier than applying for a new mortgage. That’s trillion with a T. Years in the industry. Through the company's platform and mobile application, customers can access customized mortgage solutions based on real-time rates and their own rate, term, and closing cost preferences. Also some of the information requests in my Rocket Mortgage Account were confusing. He said 20 minutes. When evaluating offers, please review the financial institution’s Terms and Conditions. I don't understand why this couldn't have been done during my application process. While waiting for our title insurance policy, he called daily - sometimes several times a day, and quoted some arcane law that didn't even apply. Rocket Mortgage offers more options for FHA loans than most companies, which allows consumers to select the loan term that best fits their needs. Rocket Loans is confident enough in its service to link directly from its home page to its Trustpilot page, which has thousands of reviews. Thanks to real-time rate updates, new borrowers can stay in control of their financing options by logging on as often as they want to check for the newest rates before locking in the deal. The submission of the required documents was easy by uploading them online. Took all guess work out. In addition to their support via chat and on the phone. I was quoted a 2.75% loan rate but was Not told that it had been a real 2.9% rate that would cost me $1,750 in debt to buy down to the 2.75% rate! I lost my husband in May from Covid and needed to lower my pmt. If you can’t pay your current home loan, refer to our mortgage assistance resource. Tapping the "Talk to Us" button puts you in touch with a mortgage banker. As of November 2020, Rocket Mortgage has a 3.4 out of 5 star rating from Trustpilot based on more than 2,500 reviews. As a subsidiary of Quicken Loan, any reviews on Rocket Mortgage on Consumer Affairs are attached to the parent company. Get preapproved for your mortgage. Rocket Mortgage review: Service My wife and I have decided to move. This is based on over 1,600 reviews at the time of publishing which gets it a rating of "great" overall. You provide the usual contact information to sign in. Its location on this page may change next time you visit. We refinanced a $145,000 remaining on our old mortgage to a VA 30 year refinance with Quicken/Rocket. If you’re a “look me in the eye” type of customer, you’re out of luck. 1.2 out of 5. The closing was just as easy. Rocket will show you an actual mortgage rate based on your credit qualifications and can lock in that rate if you want. If you’re trying to get an idea of what prevailing interest rates are, you won’t find sample national rates on the Rocket website. Glassdoor gives you an inside look at what it's like to work at Rocket Mortgage, including salaries, reviews, office photos, and more. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team. As part of the Quicken Loans family, it offers a completely online mortgage process that lets you work with homebuying experts from the comfort of your current home. Borrowers should consider the balance between lender fees and mortgage rates. Rocket Mortgage Review: How It Works, Pros & Cons By J.R. Duren HighYa Staff Updated on: Dec 3, 2019 About Rocket Mortgage Rocket Mortgage is the mortgage We are not sure who to go to for a mortgage - we have really good credit and a lot of equity in our home (our net sheet from the realtor estimated we would get $45,000 back at closing). When I first applied I spoke with somebody and their communication wasn't the best. Much of your financial information, such as bank and investment accounts, can be downloaded directly by Rocket Mortgage from many U.S. financial institutions. Rocket Mortgage reviews and complaints. Write a review. Thank you Quicken. My Representatives were friendly, and quick to respond to my questions. Customize your options by changing the term, the money due at closing or your interest rate — or compare fixed- and adjustable-rate mortgages. Product: Interest Rate: APR: 30-year fixed rate: 3.250%: 3.695%: 15-year fixed rate: 2.375%: 2.852%: 10-year fixed rate: 2.375%: 3.046%: While it may seem like Quicken Loans and Rocket Mortgage are the same thing, they’re actually meant for two different purposes. For the latest information on how to cope with financial stress during this pandemic, see NerdWallet’s financial guide to COVID-19. 3.4. rocketmort gage.com. The staff are all so friendly and easy to work with. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary. Not the principle but the escrow accounts. For more information on the loan process behind the scenes, see NerdWallet's Quicken Loans review. Rocket Mortgage ranks 193 of 872 in … The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. When you apply for a mortgage through Rocket, underwriters at Quicken decide if you’re approved. The closing was quick and very convenient. The process from start to finish was fantastic. Rocket Mortgage Review 2020. However, this does not influence our evaluations. Review: Rocket Mortgage (Quicken Loans) NMLS ID# 3030. My only complaint with the process was that it took a while to get to closing. Rocket Mortgage is an online mortgage provider that’s part of the Quicken Loans family. If you’ve looked at other mortgage lender reviews, you might wonder why Quicken and Rocket aren’t in first place, like they tend to be elsewhere. Easy, painless and super smooth. calculator. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Read our review to … A free inside look at company reviews and salaries posted anonymously by employees. RM Agent was always available to help and assist with any questions and with the process. Pre-qualified offers are not binding. We appreciate the time it took the team to do everything needed and how easy it was to appraise and close as well, especially during the pandemic. 1.2 out of 5 stars. Estimates the loan amount you’ll qualify for within minutes. Visit this website rocketmort gage.com. Actually, we already have. Learn what it is and how you can get a home loan in just 10 minutes in our Rocket Mortgage review. Overall, the processing fast and efficient. This article includes links which we may receive compensation for if you click, at no cost to you. Due to the coronavirus pandemic, getting a mortgage may be a bit of a challenge. Thank you for your review. They were well trained for the task and kept me well informed. How are ratings calculated? Disclaimer: NerdWallet strives to keep its information accurate and up to date. 2,714 people have already reviewed Rocket Mortgage. Your experience is important to me, and I take your concerns very seriously. and mortgage rates. NerdWallet's ratings are determined by our editorial team. Rocket Mortgage by Quicken Loans is a fast, powerful and completely online way to get a mortgage for refinancing or buying a home. And I want ONE customer service rep by name. Quicken Loans, the lender behind Rocket Mortgage, earns 2 of 5 stars on this factor. Customize your options by changing the term, the money due at closing or your interest rate — or compare. There were obviously good and bad reviews, like you’d find for any other product or service, but also some interesting takeaways. 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