Quicken Loans, Rocket Mortgage: Best Mortgage Options for 2025 Reviewed
Best Mortgage Options
Mortgage
- Fast digital application process
- Wide range of loan options
- No prepayment penalties
- Strong customer service ratings
- Specialty programs for first-time homebuyers and Native Americans
- No in-person branches
- Some fees may be higher than competitors
- No USDA or construction loans
| Rates (APR) | Varies by loan type; Start at 6.25% – 7.375% |
| Loan amounts | Up to $3 million |
| Repayment terms | 15 – 30 years |
| Min. down payment | Varies by loan; 0% to 25% |
Quicken Loans and Rocket Mortgage are two names you’ve likely heard, but did you know they’re the same company? Quicken Loans, a leader in the mortgage industry since 1985, rebranded as Rocket Mortgage in 2021 to focus on its goal of helping you get a loan as fast as possible.
Rocket Mortgage is best for borrowers who value speed and convenience over face-to-face service. The digital platform lets you apply, get preapproved, and manage your loan 100% online. But is Rocket Mortgage the right lender for you? Tag along as we cover mortgage rates, loan options, customer feedback, and how Rocket compares to other lenders to help you decide.
Table of Contents
Is Quicken Loans Rocket Mortgage?
Yes—Quicken Loans and Rocket Mortgage are the same company. Quicken Loans rebranded as Rocket Mortgage in 2021 to better reflect its focus on online lending. The move was part of parent company Rocket Companies’ push to offer fast, digital-first financial services.
You might remember Quicken Loans from its popular Super Bowl commercials or sweepstakes. The company’s catchy “Push Button, Get Mortgage” tagline introduced millions to its tech-driven approach, as you can see in its 2016 Super Bowl ad:
Today, Rocket Mortgage is widely recognized as a major player in the mortgage space. It even sponsors the Rocket Mortgage Classic, a PGA golf tournament that increases the brand’s visibility.
So if you’re wondering whether to apply with Quicken Loans or Rocket Mortgage, the answer is… they’re one and the same.
Rocket Mortgage/Quicken Loans mortgage rates and terms
Rocket Mortgage has solid mortgage options for borrowers across the board, but rates may not be the lowest you can find. If you’re thinking about getting a mortgage with Rocket, compare offers from other lenders to make sure you’re getting the best terms.
Here’s a quick glance at the types of mortgages it offers:
| Mortgage | Starting rate | Terms |
| ONE+ by Rocket Mortgage | N/A | 30 years, fixed |
| Fixed-rate loan | 7.375% | 15, 20 or 30 years, fixed |
| Adjustable-rate loan | N/A | Fixed for 5 – 10 years, then rate changes every 6 months |
| FHA loan | 6.625% | 15 or 30 years, fixed |
| VA loan | 6.75% | 15 – 30 years, fixed |
| Jumbo Smart loan | 6.25% | 15 – 30 years fixed; 7-year adjustable |
What types of mortgages does Rocket Mortgage offer?
Rocket Mortgage has something for almost every type of borrower, whether you’re a first-time buyer, a military veteran, or a homeowner looking to tap into equity.
Here’s a breakdown of Rocket Mortgage’s seven most popular loan types and how they work:
1. ONE+ By Rocket Mortgage®
The One+ program makes homebuying more affordable by reducing your upfront costs. You only need to put 1% down, and Rocket Mortgage covers an additional 2%.
Who it’s best for:
Income-eligible homebuyers or anyone struggling to save for a down payment.
2. Fixed-rate mortgage
This is Rocket’s most popular loan. You make consistent monthly payments for 15, 20, or 30 years with as little as 3% down.
Who it’s best for:
Buyers looking for a traditional or conventional loan with lower monthly payments.
3. FHA loan
An FHA loan is a government-backed option for borrowers with lower credit scores or higher debt-to-income ratios. You only need a 3.5% down payment to qualify.
Who it’s best for:
Buyers with lower credit scores or those who need a smaller down payment.
4. VA loan
Rocket’s VA loans are designed for military members and veterans. You can buy a home with no down payment and benefit from lower rates. Closing costs are usually 2% to 6% of the amount financed.
Who it’s best for:
Eligible service members and veterans looking for affordable home financing.
5. Adjustable-rate mortgage (ARM)
ARMs start with a lower fixed rate for the first five, seven, or 10 years before adjusting every six months. This can offer short-term savings if you don’t plan to stay in the home long-term.
Who it’s best for:
Buyers who expect to move or refinance before the rate adjusts.
6. Jumbo Smart
Rocket’s jumbo loans are for homes that exceed conventional loan limits (starting at $766,550 in most areas). They have higher down payment and credit score requirements than conventional mortgages, but you can finance up to $3 million.
Who it’s best for:
Buyers purchasing luxury homes or properties in high-cost areas.
7. Specialized affordability programs
Rocket offers several programs to help buyers in certain metro areas or with specific needs, including:
- HomeReady® and Home Possible®: Low-down-payment options with reduced mortgage insurance.
- BorrowSmart Access℠: A program that offers credit toward your down payment.
- Purchase Plus: Provides a closing-cost grant of up to $7,500 for eligible buyers.
- Native American Home Loans: For those buying property on Native American reservations.
Who they’re best for:
First-time buyers or buyers in specific communities or underserved areas looking for financial assistance.
Who is eligible for a mortgage from Rocket?
Rocket Mortgage offers mortgages to borrowers across all 50 states and Washington, D.C., but eligibility varies based on credit score, income, and debt-to-income ratio (DTI), as well as the type of loan you’re looking to get.
Here’s what you’ll generally need to qualify for most Rocket Mortgage loans:
| Eligibility Factor | Requirement |
| Credit score | Usually 580; may be higher for some loans |
| DTI | Ideally 45% or lower |
| Eligible properties | Single-family home; second home; investment property; condo |
| Employment history | At least 2 years of stable income |
| Assets | Enough funds to cover at least a 3% down payment and 3% to 6% in closing costs |
Rocket Mortgage does not underwrite loans for manufactured or mobile homes.
The mortgage lender makes it easy to apply online, with tools to verify your income and assets digitally—no need to fax documents back and forth. Higher credit scores and lower DTIs will typically qualify you for better rates.
Rocket’s Fresh Start program can help borrowers improve their credit before applying. If your score isn’t where it needs to be, this might be a good first step.
What do customers say about Rocket Mortgage?
Most customer reviews for Rocket Mortgage come from Trustpilot, where the company holds an impressive 4.7 out of 5 stars.
Many borrowers mention how fast and easy the process is, especially for closing on tight deadlines. Rocket’s customer service also gets high marks for being responsive and helpful.
Of course, not everyone’s experience is perfect. Some borrowers mention delays or issues with document requests that caused frustration during the closing process.
| Source | Rating | Number of reviews |
| Trustpilot | 4.7/5 | 35,252 |
| 4.3/5 | 1,690 | |
| BBB | 1.59/5 | 827 |
Pros and cons of Rocket Mortgage/Quicken Loans mortgages
Rocket Mortgage makes getting a home loan convenient, but there are some trade-offs to consider. Here’s a quick breakdown of what you should know before applying.
Pros
-
100% digital experience
Rocket Mortgage lets you complete the entire mortgage process online, from preapproval to closing. It’s great for tech-savvy borrowers who want a faster, more convenient process.
-
Quick approvals
You can get a verified preapproval letter to help you stand out in competitive housing markets.
-
Wide range of loan options
Rocket Mortgage offers conventional loans, government-backed loans including FHA and VA, and unique programs such as ONE+ for low down payments.
-
Transparent rate tools
Rocket’s online tools allow you to see personalized interest rates based on your credit score and loan details.
Cons
-
No in-person branches
If you prefer working with a loan officer face-to-face, Rocket Mortgage might not be the best fit. Everything is done online or over the phone.
-
Potentially higher fees
Some borrowers report that Rocket’s closing costs and fees are higher than other lenders, but this is anecdotal. Make sure to compare offers to see what’s best for you.
-
No USDA or construction loans
Rocket doesn’t offer USDA loans for buyers in rural areas or construction loans for those looking to build a property.
Alternatives to consider
Rocket Mortgage is a strong option for digital-first borrowers, but it’s not the only game in town. You might consider other mortgage companies, especially if you’d prefer features Rocket Mortgage doesn’t have.
For example, say you’re weighing loanDepot vs. Quicken Loans/Rocket Mortgage. LoanDepot has online and in-person support through its nationwide branches. So you might like loanDepot more if you want to sit down with an officer, even if it means sacrificing some of the speed and convenience you’d get with Rocket Mortgage.
If you’re in the military, you might want to look into Navy Federal Credit Union. And if you’re in the market for a USDA loan or a one-time close construction loan, New American Funding offers both.
Use this comparison table to explore other options:
How to get a mortgage from Rocket Mortgage
Getting a mortgage with Rocket Mortgage is quick and digital, but you’ll still need to gather information before starting your application. Here’s what the process looks like from start to finish:
1. Start your application online
Visit Rocket Mortgage’s website to begin your application. You’ll answer questions about your home, income, and financial goals. Rocket will pull your credit report to give you personalized loan options and rates.
What you’ll need:
- Social Security number
- Income and employment details
- Bank account info for assets
- Credit report authorization
- Separate email address for each person applying
2. Get preapproved
Rocket Mortgage offers two types of approval letters: a Prequalified Approval Letter and a Verified Approval Letter.
The Prequalified Approval is a quick review of your basic financial details, giving you a general idea of how much home you can afford.
But for a stronger offer, you’ll want to get a Verified Approval Letter. It confirms your income, assets, and credit upfront, and helps your bid stand out to sellers.
If you’re not happy with your preapproval amount, you can adjust your loan details or work to improve your credit before continuing.
3. Finalize your loan
Once you’ve found a home, Rocket Mortgage will guide you through the final steps, including ordering an appraisal, submitting required documents, and locking in your rate.
4. Close your loan
You’ll e-sign most of your paperwork, but an in-person notary might be required to finalize your loan. Once closed, Rocket will continue to service your mortgage, letting you manage payments through their app.
Use Rocket’s app to track your loan progress and communicate directly with its team.
What other products does Rocket Mortgage offer?
You can refinance your Rocket Mortgage loan with a 15-year fixed, 30-year fixed, Jumbo Smart, FHA, VA, or adjustable-rate loan. If you want to tap into your home equity, you can do so with a Rocket home equity loan. Rocket Mortgage does not offer home equity lines of credit (HELOCs).
How we rated Rocket Mortgage
We designed LendEDU’s editorial rating system to help readers find companies that offer the best mortgage loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.
We compared Rocket Mortgage to several mortgage lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.
| Company/product | Best for | Rating |
| Rocket Mortgage purchase mortgage | Best Mortgage Options | 4.6 |
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