Home Personal Finance Rocket Mortgage Overview 2021 – The Easy Greenback

Rocket Mortgage Overview 2021 – The Easy Greenback

Rocket Mortgage Overview 2021 – The Easy Greenback


SCORE: 4.6

By Dhara Singh

Rocket Mortgage Overview 2021 | The Easy Greenback


4.6 / 5.0

SimpleScore Rocket Mortgage 4.6


Rocket Mortgage is a number one on-line mortgage lender within the U.S., with its mum or dad, Quicken Loans, the nation’s high mortgage originator in 2020. The lender provides a broad choice of buy and refinance choices, together with a flexible-term product referred to as “YOURgage,” which permits debtors to set the phrases of their mortgage from eight to 29 years, and cash-out refinancing. Headquartered in Detroit, Quicken Loans was based in 1985 by Dan Gilbert, who at the moment acts as chairman. The lender gained prominence lately by adopting know-how that enables debtors to use for loans fully on-line by means of Rocket Mortgage, which Quicken Loans formally adopted as its identify after July 31, 2021.

Breakdown of Rocket’s evaluate rating

  • Affordability: 14.75/15
  • Availability: 14/15
  • Borrower expertise: 10/10

Professionals and cons

  • Low down fee requirement (as little as 3 p.c down)
  • Customer support relating to new loans accessible seven days every week through cellphone or chat
  • No brick-and-mortar places
  • Doesn’t supply USDA loans, house fairness strains of credit score (HELOCs) or house fairness loans
  • Restricted details about lender charges accessible on-line

Good for 

Debtors trying to simply evaluate charges, study extra concerning the mortgage course of and apply for a mortgage, all on-line.


Quicken Loans has an A+ ranking from the Higher Enterprise Bureau and Rocket Mortgage has a 3.8 ranking out of 5 stars from Trustpilot. Quicken Loans has obtained the best buyer satisfaction rating from J.D. Energy for 11 consecutive years for mortgage origination, and for seven consecutive years for mortgage servicing.

Refinancing with Rocket Mortgage

After creating an account, you possibly can apply for a refinance by means of the Rocket Mortgage web site or app. As of July 2021, Rocket Mortgage’s refinance charges have been barely greater than the nationwide common for 30- and 15-year fixed-rate loans.

Overview methodology 

To find out a mortgage lender’s SimpleScore, The Easy Greenback’s editorial group charges lenders on a scale of 1 to 5 stars based mostly on a wide range of elements referring to the lender’s services and products. The Easy Greenback’s companions compensate us, however our opinions are our personal, and accomplice relationships don’t affect our evaluations. Right here is our full methodology.

Click on right here to view the remainder of Rocket Mortgage client evaluations.



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