Is Rocket Mortgage a good lender?
Unlike many lenders, Rocket Mortgage services most of the loans it originates, except for jumbo loans. So, if you get your loan from Rocket Mortgage, there’s a good chance you’ll also make your payments to Rocket Mortgage. It also services some other originators’ loans.
What credit score do you need to get a Rocket Mortgage?
Relatively high credit score required: In general, borrowers will need good to excellent credit to qualify for a loan from Rocket Mortgage. Its minimum credit score is usually 620. 1 Borrowers seeking a variety of loan types will find what they’re looking for with Rocket Mortgage.
Why Rocket Mortgage® by Quicken Loans®?
When you apply with Rocket Mortgage® by Quicken Loans®, you’ll be able to see your real interest rate and payment without any commitment. Conventional loans generally offer lower costs than other loan types, and if you meet credit score requirements and have a down payment of at least 3%, a conventional mortgage might be the best solution for you.
How much are closing costs with Rocket Mortgage?
Expect closing costs with Rocket Mortgage to be between 3% and 6% of your loan amount. For a $250,000 loan, that means closing costs could be anywhere from $7,500 to $15,000. The percentage usually drops as the loan size gets larger.