ROCKET MORTGAGE CALCULATOR FREE ONLINE TOOL REVIEW IN 2024

ROCKET MORTGAGE CALCULATOR FREE ONLINE TOOL REVIEW IN 2024

ROCKET MORTGAGE CALCULATOR | Let's learn what is the best free online mortgage loan tool to estimate your exact loan in 2024.

Rocket mortgage pre approval calculator, Rocket mortgage estimate, Rocket mortgage payment calculator.
ROCKET MORTGAGE CALCULATOR


WHAT IS ROCKET MORTGAGE?

Rocket Mortgage is a company that offers mortgage loans.

Rocket Mortgage is renowned for its cutting-edge online platform as we know, which enables applicants to submit an application and receive approval for a mortgage swiftly and effortlessly.

Here are some of the things that make Rocket Mortgage different from other mortgage lenders:

It does not rely on a network of brokers because it is a direct lender. This can facilitate cost-savings and speed up the mortgage application procedure.

It offers a wide selection of mortgage products so that customers can select yes! The 1 that best meets their needs.

It provides an intuitive online application process that makes it simple to submit and receive mortgage approval as soon as possible.


Rocket Mortgage Calculator









 

Both the interest rates and closing costs are competitive.

People use Rocket Mortgage for a variety of reasons, including:

 

1. They seek a quick and simple mortgage application process.

2. They are looking to compare interest rates offered by several lenders.

3. They want to engage with a lender that has a solid reputation for offering excellent customer service.

4. They seek a mortgage with affordable interest rates and closing charges.

5. Consider Rocket Mortgage as a viable choice if you're thinking about getting a mortgage. With a large selection of mortgage programs and affordable rates, it is a trusted lender. Either online or in person, you can submit an application for a mortgage.

 

Here are some of the pros and cons of using Rocket Mortgage:

 

Pros:

1. Wide variety of mortgage products.

2. Competitive interest rates and closing costs.

3. User-friendly online platform.

4. Good reputation for customer service.

5. Fast and easy application process.

 

Cons:

1. Not available in all states.

2. May not be the best option for borrowers with poor credit.

3. May require a higher down payment than some other lenders.

Overall, Rocket Mortgage is a good option for borrowers who are looking for a convenient and affordable way to get a mortgage. However, it is important to compare rates from different lenders before you choose one.

 

HISTORY OF ROCKET MORTGAGE

Gary Gilbert, Ron Berman, Lindsay Gross, and Dan Gilbert established Rocket Mortgage in 1985 as Rock Financial.

The business was first established as a mortgage broker, but in 1988 it took the necessary steps to transform into a mortgage lender.

 Mortgage in a Box, an online mortgage application that customers could use from the convenience of their own homes, was introduced by Rock Financial in 1996.

This was a significant advancement in the mortgage market that made Rock Financial one of the top mortgage lenders in the nation.

Gilbert oversaw a team of private investors who bought the Quicken Loans company back from Intuit in 2002. After changing its name to Quicken Loans, the business kept expanding quickly.

Rocket Mortgage, the first entirely online mortgage application procedure in the world, was introduced by Quicken Loans in 2015.

This was yet another significant invention that helped Quicken Loans become the biggest mortgage lender in the country.

In 2020, Quicken Loans changed its name to Rocket Companies and went public. The business expanded further in 2021, closing $351 billion worth of mortgages.

One of the biggest financial technology businesses in the world today, Rocket Businesses is renowned for its cutting-edge approach to the mortgage sector.

 

Here are some of the key milestones in the history of Rocket Mortgage:

 

* Dan Gilbert, Ron Berman, Lindsay Gross, and Gary Gilbert formed Rock Financial in 1985.

* Rock Financial starts lending money for mortgages in 1988.

* Rock Financial introduces Mortgage In A Box in 1996.

* Gilbert is responsible for leading a group of private investors in reacquiring the Quicken Loans division from Intuit in 2002.

* Launch of Rocket Mortgage by Quicken Loans in 2015.

* 2020: Quicken Loans changes its name to Rocket Companies and goes public.

* Rocket Companies closes $351 billion in mortgage transactions in 2021.

* A major player in the mortgage sector, Rocket Mortgage is renowned for its cutting-edge approach to the application process.

The business has assisted millions of individuals in purchasing homes and is dedicated to making the mortgage application and approval process simpler and more effective for borrowers.

 

ROCKET MORTGAGE OFFERS

See which types of loans Rocket Mortgage offers along with its products & mortgage application process.

Since Rocket Mortgage is a direct lender, it doesn't deal with a group of brokers. This can help to cut costs and expedite the mortgage application process.

Numerous mortgage products are available from Rocket Mortgage, such as:

Conventional loans:

These are loans that the government does not insure. They are frequently accessible to customers with strong credit and a minimum 20% down payment.

FHA loans:

The Federal Housing Administration (FHA) insures these loans. Borrowers with weaker credit scores and down payments as low as 3.5% may be eligible for them.

VA loans:

The Department of Veterans Affairs (VA) insures these loans. They are accessible to veterans, active serving service members, and their surviving spouses.

USDA loans:

The United States Department of Agriculture (USDA) insures these loans. They are accessible to borrowers who buy rural residences.

Along with these conventional mortgage programs, Rocket Mortgage also provides a number of other mortgage options, including:

Jumbo loans:

These are loans that go over the Federal Housing Finance Agency's (FHFA) conforming loan limits.

Interest-only loans:

These loans let borrowers to make solely interest payments on their debt for a predetermined amount of time.

Adjustable-rate mortgages (ARMs):

These loans have interest rates that can change over time.

Your specific circumstances, including your credit score, down payment, and income, will determine the sort of Rocket Mortgage loan provider for which you are eligible. Rocket Mortgage has local branches, or you can apply for a mortgage online.

 

Here are some of the factors that will affect the type of Rocket Mortgage loan provider that you qualify for:

 

Your credit score: You'll be able to choose from a wider range of mortgage packages and pay lower interest rates if you have a high credit score.

Your down payment: You'll also have access to lower interest rates if you put down a bigger down payment.

Your income: Your income will determine how much you can afford to borrow.

Your debt-to-income ratio: The percentage of your monthly income that is used to pay off debts is known as your debt-to-income ratio. You will be a more appealing borrower if your debt-to-income ratio is lower.

Your employment history: Additionally, having an excellent employment history will increase your appeal to lenders.

ROCKET MORTGAGE TERMS AND CONDITION

Let’s see what are the terms and conditions to apply for a loan in 2023.

Rocket Mortgage can lend to a variety of borrowers, but the specific requirements will vary depending on the type of loan.

Here are some general guidelines:

Credit score: A credit score of at least 580 is normally needed by Rocket Mortgage for conventional loans, 500 for FHA loans, and 620 for VA loans. There are certain exceptions, though, and if you have a favorable debt-to-income ratio and other mitigating circumstances, you might be able to apply with a lower credit score.

Down payment: Your eligibility will also be impacted by the down payment amount. You will normally require a 20% down payment for traditional loans. However, there are also government-backed loans that only require a 3.5% down payment, including FHA loans.

Income: Your income will also be taken into account. Rocket Mortgage will check your ability to pay the loan's monthly installments.

Debt-to-income ratio: The percentage of your monthly income that is used to pay off debts is known as your debt-to-income ratio. Your debt-to-income ratio must be less than a particular cutoff point, usually 50%, for Rocket Mortgage to approve your loan.

Employment history: Rocket Mortgage will also check your employment history to make sure it is steady.

You can consult a mortgage advisor if you are unsure whether you are eligible for a loan from Rocket Mortgage. They can assist you in determining your unique situation and offer the best loan option for you.

 

Here are some additional things to keep in mind when applying for a loan from Rocket Mortgage:

 

Proof of your income, assets, and employment must be provided to support your application.

It's crucial to have patience because the mortgage application process can take many weeks.

Be sure to include any closing costs in your budget since they may be related to the loan.

It's crucial to shop around and compare rates from several lenders if you're thinking about getting a loan from Rocket Mortgage.

To calculate how much you can borrow, you can also utilize a mortgage calculator.

 

IN WHICH COUNTRY & CITY TO TAKE A ROCKET MORTGAGE LOAN?

Rocket Mortgage is a US company and it only offers mortgages in the United States. You can take a Rocket Mortgage loan in any state in the US, but the specific requirements may vary depending on the state.

 For example, some states have stricter lending requirements than others.

 

Here are some of the states where Rocket Mortgage offers mortgages:

Alabama

Alaska

Arizona

Arkansas

California

Colorado

Connecticut

Delaware

Florida

Georgia

Hawaii

Idaho

Illinois

Indiana

Iowa

Kansas

Kentucky

Louisiana

Maine

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Vermont

Virginia

Washington

West Virginia

Wisconsin

Wyoming

NOTE-If you are not sure if Rocket Mortgage offers mortgages in your state, you can contact the company directly.

 

Here are some of the cities where Rocket Mortgage has offices:

 

Atlanta, GA

Austin, TX

Charlotte, NC

Chicago, IL

Dallas, TX

Denver, CO

Detroit, MI

Houston, TX

Indianapolis, IN

Jacksonville, FL

Los Angeles, CA

Miami, FL

Nashville, TN

New York, NY

Phoenix, AZ

Pittsburgh, PA

Raleigh, NC

San Diego, CA

San Francisco, CA

Seattle, WA

Tampa, FL

Washington, DC

 

FAQs ON ROCKET MORTGAGE

 

WHERE IS ROCKET MORTGAGE HEADQUARTERS?

The corporate headquarters of Rocket Mortgage is situated in Detroit, Michigan. Detroit, Michigan 48226, 1050 Woodward Avenue is where the business is located. The company's phone number is 1-800-QUICK-LOAN (1-800-784-5562).

A Detroit-based fintech platform firm called Rocket Companies is the parent company of Rocket Mortgage.

Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Indianapolis, Jacksonville, Los Angeles, Miami, Nashville, New York, Phoenix, Pittsburgh, Raleigh, San Diego, San Francisco, Seattle, Tampa, and Washington, D.C. are other locations where the corporation maintains offices.

 

HOW DO I FILE A COMPLAINT AGAINST ROCKET MORTGAGE?

You can file a complaint against Rocket Mortgage in several ways:

Directly with Rocket Mortgage: Call 1-800-QUICK-LOAN (1-800-784-5562) to get in touch with Rocket Mortgage's customer support team. The customer support agent will assist you in making a complaint and will look into the situation.

With the Consumer Financial Protection Bureau (CFPB): The Consumer Financial

Protection Bureau (CFPB) is involved in: Consumers are safeguarded from financial fraud, discrimination, and other unfair practices by the CFPB, a federal organization. You can contact the CFPB by phone at 1-855-411-CFPB (2372) or online.

With the Better Business Bureau (BBB): A non-profit group called the BBB compiles and disseminates customer complaints. You can contact the BBB by phone at 1-800-636-6262 or online.

With your state's attorney general: If Rocket Mortgage has broken any laws, your state's attorney general may be able to look into the matter and take appropriate action. The website for the attorney general of your state will provide contact details.


HOW DO I SET UP A ROCKET MORTGAGE ACCOUNT?

To set up a Rocket Mortgage account, you can follow these steps:

 

Go to the Rocket Mortgage website and click on the "Create Account" button.

Enter your email address and create a password.

Read and agree to the terms and conditions.

Click on the "Create Account" button.

You will then be taken to your Rocket Mortgage dashboard. From here, you can start the mortgage application process or manage your existing mortgage account.

 

Here are some of the things you need to have ready when setting up your Rocket Mortgage account:

 

Your name.

Your email address.

Your Social Security number.

Your date of birth.

Your income.

Your debt-to-income ratio.

Your credit score.

The address of the property you are interested in buying.

You can also add other details, such as your assets and employment background. Rocket Mortgage will use this information to determine if you qualify for a mortgage.

The mortgage application procedure can be started as soon as you create your Rocket Mortgage account.

More details about your finances and the property you're interested in purchasing will be required during this phase.

After reviewing your application, Rocket Mortgage will send you a letter of pre-approval. You can find out how much you qualify for to borrow from this letter.

 

WHAT IS ROCKET MORTGAGE ADDRESS?

The headquarters of Rocket Mortgage is located at 1050 Woodward Avenue, Detroit, MI 48226, United States.

WHAT BANK IS BEHIND ROCKET MORTGAGE?

A bank does not support Rocket Mortgage. Being a direct lender, it doesn't obtain loans through a network of banks or brokers. Rocket Mortgage, on the other hand, creates its own loans and then sells them to investors.

CAN ROCKET MORTGAGE BE TRUSTED?

A large and reputable mortgage lender is Rocket Mortgage. It has been in operation for more than 30 years and has aided millions of individuals in purchasing homes.

The business is well known for providing excellent customer service and has won several accolades for the mortgage services and products it offers.

WHY DO PEOPLE USE ROCKET MORTGAGE?

There are many reasons why people use Rocket Mortgage. Here are some of the most common reasons:

1. Convenience.

2. Competitive rates.

3. Good reputation.

4. Fast and easy application process.

5. Wide variety of mortgage products.

6. Available in many states.

FAQs on Rocket Mortgage official site

Disclaimer - You can talk to a mortgage advisor if you're unsure of the type of Rocket Mortgage loan provider that's best for you. They can assist you in determining your unique situation and recommend the ideal mortgage solution for you. You could also go to the Rocket Mortgage office.

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Conclude – Here, I have shared all the details about the Rocket mortgage calculator free online tool with reviews in 2024.

 

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