Breakdown of Rocket’s review score
- Affordability: 14.75/15
- Availability: 14/15
- Borrower experience: 10/10
Pros and cons
- Low down payment requirement (as little as 3 percent down)
- Customer service regarding new loans available seven days a week via phone or chat
- No brick-and-mortar locations
- Doesn’t offer USDA loans, home equity lines of credit (HELOCs) or home equity loans
- Limited information about lender fees available online
Borrowers looking to easily compare rates, learn more about the mortgage process and apply for a loan, all online.
Quicken Loans has an A+ rating from the Better Business Bureau and Rocket Mortgage has a 3.8 rating out of five stars from Trustpilot. Quicken Loans has received the highest customer satisfaction ranking from J.D. Power for 11 consecutive years for mortgage origination, and for seven consecutive years for mortgage servicing.
Refinancing with Rocket Mortgage
After creating an account, you can apply for a refinance through the Rocket Mortgage website or app. As of July 2021, Rocket Mortgage’s refinance rates were slightly higher than the national average for 30- and 15-year fixed-rate loans.
To determine a mortgage lender’s SimpleScore, The Simple Dollar’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. The Simple Dollar’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.