In fact, if you really don’t want to talk to another person, you can opt to communicate via its Talk to Us page. It provides a secure environment where you can communicate with loan officers, upload documents, monitor your loan information, and access your closing documents. Rocket Mortgage offers rich online and mobile functionality. So if those things appeak to you, Rocket Mortgage just might make your shortlist. You might find lower rates elsewhere, but it’s harder to find such an easy-to-use online application or higher customer satisfaction ratings. These borrowers will be directed to FHA loans and may need to make a down payment of 10%. Having said that, the website does say this lender will entertain applications from those with scores as low as 580. But the whole idea is that the system itself is so expert it will gently lead you through the entire experience.Īnd it helps if you’re a “safe” borrower - meaning Rocket tends to prefer homeowners with a decent credit score and reasonable debt-to-income ratio (DTI). The lender promises “expert advice when you need it” from its home loan experts. Of course, we’d only recommend Rocket to those who are comfortable using its online application processes. So, is this all-digital lender really worth it? Its satisfaction scores suggest that current customers don’t have much to complain about. Rocket Mortgage describes itself this way: “If you don’t have the patience for banks and want a fast, convenient way to see your mortgage options, you should give Rocket Mortgage a try.” Start here (Jan 26th, 2022) Rocket Mortgage review for 2022 Then compare the interest rates and fees you’re offered to see which lender can offer you the best deal.Īverage rate and fee data are sourced from public records required by the Home Mortgage Disclosure Act (HMDA). Instead, pick 3-5 lenders you’re interested in and get rate quotes from each one. That means you shouldn’t take average rates (or advertised rates) at face value. Your own rate depends on factors like your credit score, down payment, loan type, and home price. Of course, mortgage interest rates change frequently. In 2020 - the most recent data available - Rocket mortgage rates were a little lower on average than some top competitors.