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Rocket Mortgage Review 2025

Written by

Andrew Dehan

Edited by

Suzanne De Vita

Updated Dec 6, 2024

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At a glance

NMLS: 3030

Editor's take

Rocket Mortgage pioneered the all-online loan application and has become a popular choice for many, rising to become the top mortgage lender in the country. Still, while the lender offers conveniences like a seamless app and verified approval letters, its rates are often higher than other lenders.

Bankrate Score

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

3.8

Bankrate Score

Customer Rating

Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.

To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.

4.8

2,630 ratings

Loans offered

Conventional, jumbo, FHA, VA, refinancing and more

Min. credit score required

620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans

Nationwide availability

All U.S. states

Min. down payment

3% for conventional loans, 10%-15% for jumbo loans, 3.5% for FHA, none for VA loans

Recent customer reviews

The customer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews. Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

HORRIBLE EXPERIENCE

I would give them ZERO stars if I could. Their underwriting department is a total joke. We had a 45 day closing and the day before our scheduled closing date they started asking for additional documents. Each day it was a new document that needed to be sent. The lender couldn't do anything, the unde...

Julia
Oklahoma (Dec 4, 2024)

Many mistakes made

After delaying our original closing date over 16 days while we were paying interest they made several errors. First off their original appraiser cancelled on us about 1.5 hours before appointment. Then they used wrong address to send to IRS to request transcripts. After all that and we signed all th...

M B.
Missouri (Nov 18, 2024)

Read 46 customer reviews for Rocket Mortgage

Rocket Mortgage overview

Rocket Mortgage is the leading mortgage lender by volume in the U.S. as of 2023. As the biggest mortgage originator, it handles large volumes of conventional loans, FHA mortgages and VA mortgages. Its offerings include a 1 percent conventional loan and an equity product to help homeowners take advantage of higher home values.

Bankrate insights

When taking out a conventional loan, first-time buyers are required to put at least 3 percent down. Rocket’s ONE+ program lowers that minimum to just 1 percent, covering the remaining 2 percent through a grant.

Pros and cons of Rocket Mortgage

Pros

Scores above average for customer service
Contact options include chat and screen-sharing
Up to $10,000 rebate for buying and selling through affiliate Rocket Homes

Cons

Rates often higher than average
No branch locations
No USDA loans

How Bankrate scored Rocket Mortgage

Affordability: 1.8/5

Rocket Mortgage isn’t the most cost-friendly lender, and its APRs are often significantly higher than Bankrate averages. We score it 1.8 out of 5 stars for affordability.

Interest rates: As of this review, Rocket Mortgage’s mortgage rates were well above market average, based on Bankrate data.
Down payment: Rocket offers VA loans with zero percent down, FHA loans with 3.5 percent down and, with its Rocket ONE+ program, you can get a conventional loan with just 1 percent down.
Closing costs: Rocket charges an origination fee, rate-lock fee and more. These fees, as well as other closing costs, vary by the particulars of your loan.

Availability: 5/5

Rocket Mortgage provides several different mortgage types to meet a range of borrower needs, and is available nationwide, awarding it 5 out of 5 stars for availability.

Home loans offered: Rocket Mortgage offers conventional, USDA, jumbo, FHA and VA purchase and refinance options, as well as home equity loans. Notably, the lender’s Fresh Start program pairs borrowers who need help improving their credit with financial consultants.
Footprint: Rocket works with borrowers across the U.S. It does not maintain branch locations.
Where to find: You can apply for a mortgage with Rocket Mortgage online or by phone.

Borrower experience: 4.6/5

It’s easy to get in touch with Rocket Mortgage if you need help, and the lender has a solid reputation for customer satisfaction. While you can see generic rate offers on its website, you’ll need to submit contact info for a personalized rate quote. This lowers Rocket’s score to 4.6 out of 5 stars for borrower experience.

Preapproval and application process: Rocket Mortgage is the gold standard as far as application experience. If you have a regular W-2 job, every part of the application process can happen online (if you’re self-employed, you’ll need to connect with a human at some point). The lender has a mobile app that allows you to get preapproved, upload documents and e-sign from your phone.
Transparency: Rocket Mortgage displays promotional rates on its website, which are updated daily. To get a rate tailored to you, however, you’ll need to submit your contact info.
Customer service: You can reach Rocket’s customer service team at 888-452-8179, Monday through Friday from 7:00 a.m. to midnight ET, Saturday from 9:00 a.m. to 8:00 p.m. ET and Sunday from 9:00 a.m. to 7:00 p.m. ET. The lender also offers customer assistance via online chat seven days a week.

Bankrate staff insights

"Their app is very easy to use, which I appreciate since I hate calling 1-800 numbers. I can log in quickly and immediately see my payments and when the next one is coming up. In the app, you can access endless documents you may need as well such as escrow and tax forms."

- Natasha Cornelius, Editor, Bankrate

"My favorite feature is the website and UI. It's very well done and easy to navigate. My advice to others would be to make sure you fully understand the terms if you are buying points. It wasn't very apparent to me how long it would take to see the benefit of buying down the rate."

- Robert Vrabel, Senior engineer, Bankrate

"When I last took a loan through Rocket in 2007, it had a fairly high-tech process for dealing with all the paperwork, showing you the status of your loan, etc. My biggest complaint with Rocket is that when I checked their rates in 2021 when I was looking to refi, their reps were really pushy following that initial rate check. They called/emailed me multiple times trying to get me to start the refi process, and it overall felt very like "used car sales" tactics. "

- Red Ventures staffer (Bankrate parent company)

Rocket Mortgage reputation

While Rocket Mortgage does have its share of customer complaints, the lender ranks above-average for customer satisfaction in the mortgage industry, according to J.D. Power’s 2024 mortgage origination satisfaction study. The lender is accredited with the Better Business Bureau and has an A+ rating from the organization.

What consumers say about Rocket Mortgage

Rocket Mortgage has mixed reviews from borrowers on Bankrate. On one hand, some reviewers remark on the seamless experience, knowledgeable staff, solid customer service and easy-to-use tech. However, several reviewers find the company to be dishonest, incompetent and pushy.

Rocket Mortgage special offers

ONE+

When taking out a conventional loan, you’re required to put down at least 3 percent. If you’re eligible, Rocket’s ONE+ program lowers that minimum to just 1 percent, covering the remaining 2 percent through a grant. The program also covers private mortgage insurance (PMI) at no cost.

Rocket credit card

Rocket Mortgage’s Visa Signature Card offers a generous 5 percent back on all purchases, up to the limit, with the catch that the rewards are worth full value only if you ultimately get your home loan from Rocket Mortgage. That can discourage you from shopping around for a mortgage, a practice that could save you more money than the credit card’s cash back.

Welcome Home RateBreak

If you qualify, Rocket’s Welcome Home RateBreak program offers 2 percent off your mortgage rate in your first year and 1 percent off in your second year. This is referred to as a temporary buydown.

Refinancing with Rocket Mortgage

Rocket Mortgage offers both rate-and-term and cash-out refinancing options.

How to apply for a mortgage with Rocket Mortgage

You can apply for a mortgage with Rocket Mortgage online or by phone at 888-452-8179.

Learn more: How to get a mortgage

To determine a mortgage lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:
1. Affordability: Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%
2. Availability: Loan products - 50%; licensing - 40%; credit score - 10%
3. Borrower experience: Rate transparency - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)
Learn more about our methodology.

Rocket Mortgage customer ratings and reviews

NMLS: 3030

4.8

2,630 ratings

Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

This lender has 46 recent reviews.

Knowledge

Level of service

Professionalism

Responsiveness

5 stars

4 stars

3 stars

2 stars

1 star

91%

96% of customers would recommend this lender.

of 46 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

In addition to collecting reviews on-site, Bankrate collaborated with third-party Slice MR to survey 750 homeowners nationwide in July 2024. Bankrate and Slice MR collected, averaged and presented responses to nine questions. Users received an incentive for their feedback. Responses are based on individual experiences, and therefore cannot be verified for accuracy. Submissions with user ratings that are materially inconsistent with written sentiment have been removed. User ratings are unedited and have not been reviewed or approved by lenders, nor do these ratings reflect Bankrate’s own reviews of these lenders.

To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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