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Rocket Mortgage Review 2023

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At a glance

Rocket Mortgage


Rating: 4.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

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

Pros and cons

Checkmark Pros

  • Easy digital application process
  • Customer service regarding new loans available seven days a week via phone or chat
  • Offers home equity loans

Close X Cons

  • No branch locations
  • No USDA loans or home equity lines of credit (HELOCs)
  • Limited information about lender fees available online

Rocket Mortgage overview

Rocket Mortgage is a leading online mortgage lender in the U.S., closing $351 billion in loans in 2021. Headquartered in Detroit, Rocket parent Quicken Loans was founded in 1985 by Dan Gilbert, who today serves as chairman. The lender pioneered the first all-online mortgage application. With Rocket, eligible borrowers can lock their rate for up to 90 days and get prequalified or verified approval letters seamlessly to help in their house-hunting efforts.

Rocket Mortgage is good for

Borrowers looking to easily compare rates, learn more about the mortgage process and apply for a loan, all online

Breakdown of Rocket Mortgage overall score

  • Affordability: Rocket Mortgage’s rates consistently run above Bankrate’s averages, and you’ll pay some lender fees for a loan.

  • Availability: Rocket works with borrowers nationwide, and it recently added home equity loans to its product mix.

  • Borrower experience: J.D. Power gives the lender its highest marks for customer satisfaction, in part thanks to its pioneering all-digital mortgage process.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 4/5

Rocket Mortgage isn’t the cheapest option for getting a mortgage. The lender’s advertised rates are often higher than Bankrate’s national averages, and borrowers do pay lender charges, such as origination and rate-lock fees.

Availability: 4.5/5

Rocket Mortgage lends in every state in the country, and has a wide range of loan options that can serve just about every type of borrower. Plus, the lender accepts credit scores as low as 580 for FHA loans and VA loans, so those with subpar credit who are otherwise eligible for a loan could still qualify. The lender also offers the Fresh Start program to pair borrowers who need help improving their credit with financial consultants. The program is free and available by calling 800-769-6133.

Borrower experience: 4.9/5

While Rocket Mortgage does have its share of customer complaints, the lender is still the frontrunner for customer satisfaction in the mortgage industry, according to J.D. Power.

The lender is also the gold standard as far as experience. If you have a regular job, every part of the mortgage 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. If you want additional assistance, the lender offers customer assistance via online chat seven days a week.

Refinancing with Rocket Mortgage

After creating an account, you can apply for a refinance through the Rocket Mortgage website or app.

Alternatives to Rocket Mortgage

  • LoanDepot review – An online lender that reimburses the appraisal fee if you refinance a second time
  • Freedom Mortgage review – Another high-volume lender offering first-time homebuyer programs and other loans
  • Mr. Cooper mortgage review – Also has an app where you can check your loan application status and make payments

Rocket Mortgage consumer reviews



Rating: 4.8 stars out of 5

2207 reviews

5 stars
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About consumer ratings

Customer service rating

Rating: 4.8 stars out of 5
Level of service
Rating: 4.8 stars out of 5
Rating: 4.8 stars out of 5
Rating: 4.8 stars out of 5

96% of reviews would recommend this lender

4 of 10 rates honored

Review this lender

Write a review of your experience with Rocket Mortgage.

of 36 reviews

The consumer reviews posted on ("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.

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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Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor