- Rocket Homes Blog (2024)

FAQs

Is Rocket Mortgage reliable? ›

This rating is calculated based on the lender's affordability, eligibility criteria for potential borrowers, and customer service. Rocket Mortgage has an A+ rating from the Better Business Bureau. Trustpilot scores Rocket Mortgage 3.9 out of 5 stars, which is a great rating, based on more than 3,600 reviews.

Hawaii License # RB-23371. TREC: Information about brokerage services, Consumer protection notice. Rocket Mortgage, LLC and Rocket Homes Real Estate LLC are separate operating subsidiaries of Rocket Companies, Inc.

Rocket Money was originally known as Truebill when it was founded in 2015. The company was acquired in 2021 by Rocket Companies—which also owns Rocket Mortgage, Rocket Loans, and is the issuer of the Rocket Visa Signature® Card. Its name changed in late August, 2022.

Cons. Getting a customized interest rate requires a credit check, which can affect your credit score. Origination fees are on the high side compared with other lenders, according to the latest federal data. Doesn't offer home equity lines of credit.

Who can use Rocket Mortgage? Rocket Mortgage^® is best for people who have a credit score of 580 or above and are ready to buy a home or refinance within the next few months. Check your credit score through our sister company, Rocket Homes^®.

Most importantly, there's no charge to make a payment on your mortgage, whether over the phone or online. This free service can save you hundreds – even thousands – of dollars over the life of your loan, as most servicers charge clients to use their payment options, like paying over the phone or using their websites.

Rocket Companies, parent to Rocket Mortgage and other FinTech brands, celebrated its debut on the New York Stock Exchange as a publicly traded entity. Rocket Companies stock began trading under the ticker symbol RKT.

Rocket Loans has an A+ rating on Better Business Bureau (BBB) and a 4.8 out of 5 star rating on Trustpilot out of more than 6,000 reviews.

The complaint alleges that the manipulative design of Rocket Money's interface and its misleading representations to consumers are unfair, deceptive, and abusive practices under the Dodd-Frank Act.

Rocket Mortgage was formerly known as Quicken Loans, but officially changed its name in 2021. Owned by Rocket Companies, Rocket Mortgage has grown to become one of the most popular mortgage lenders in America.

Is Rocket Mortgage secure? ›

Our Security And Privacy Philosophy

At Rocket Mortgage, our mission is to help clients achieve their financial and homeownership dreams. We extend that dedication to everyone's privacy and data rights. That's why we strive to be transparent about how we collect and use your information.

Rocket Mortgage offers a much wider variety of loan products than the average local bank does and has much more flexible requirements as a result. Though it can be possible to find a local bank that can work with your particular situation, expect to have to shop around more.

Rocket Loans has an A+ rating on Better Business Bureau (BBB) and a 4.8 out of 5 star rating on Trustpilot out of more than 6,000 reviews.

To successfully get a home loan with Rocket Mortgage, you need a minimum credit score between 580 to 680, depending on the type of loan you apply for. In addition, your monthly DTI shouldn't be more than 45%—but lower is always better.