Rocket Mortgage offers a quick and easy digital mortgage experience
Rocket got its start as Rock Financial in 1985 eventually changing its name to Quicken Loans in 1999 Rocket Mortgage in 2021 It was co-founded by two brothers Gary and Dan Gilbert, and Lindsay Gross
Today, Rocket Mortgage offers loans in all 50 US states and Washington, DC. It is headquartered in downtown Detroit and is the largest online mortgage lender in the US.
That translates to $351 billion in debt origination in 2021. Although the individual branches of the rocket are not.
It offers a simple online loan application process, and customer service is easily accessible by phone and online chat.
Rocket Mortgage offers several loan options, and you can apply for a mortgage online at your own pace. However, its fees may be higher than some competitors, and USDA loans aren’t available
Pros Convenient online application process Quick closings available High customer satisfaction ratings
Cons Doesn’t offer USDA loans Relatively high credit score required
Offering several loan types, multiple educational tools, and the option to apply for a loan online, Rocket Mortgage is well-suited for first-time homebuyers and those who prefer a digital process.