Rocket Mortgage

Truly terrible underwriting experience, tainted the whole process for me. They didn’t have their stuff together and were not timely in resolving issues.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

Completed everything online in just a few days except for signing the final few documents. Easy to work with and fast turn around. I highly recommend!

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

The overall experience with Rocket Mortgage was positive. The site/tools they use make things easy and fast. The only item I'd suggest to double-check is that sometimes the status/information on the site may not be the latest or most accurate one and at times contradicts with information received on the mail. I had to double-check status more than once through the process.

Other than that, everything happened as planned. I would still recommend Rocket Mortgage for refinancing needs.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

Fay A went above and beyond always answering any questions or concerns that I had.

The actual process was really easy. I also closed in less than 30 days.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

In a nutshell, 2 days before closing Rocket Mortgage denied our loan, due to "change of intent," despite almost daily reassurances there were no red flags regarding the transaction. My wife and I were looking to buy a second home which would become our primary residence to be closer to family, particularly our first grandchild. My wife's job had shifted to working remotely, and based on company emails believed she would be able to work out of state. Due to an overwhelming number of requests from other employees to also work out of state, we're in California, the company modified the rules and only allowed relocations within state or states where they had an office. Unfortunately, the home we had been pre-approved for by Rocket and a sales contract signed, did not have an office in that state. We immediately notified Rocket of the change and through some negotiation was able to keep the same interest rate by buying pts, as the rate would have been higher as this was now a second/investment home and not going to be our primary residence for at least another year. Home inspection was done, along with the appraisal. At this point, I'd like to mention that we were putting 25% down, had excellent FICO, and good debt to income ratio and over half a million dollars in retirement accounts. We even paid off some debt to improve our DTI.

During the ensuing three weeks we were repeatedly told that everything was on track and there were no issues or red flags with our loan. The first hiccup came when they told us the appraisal had been completed but the report not yet received, and probably wouldn't be until a week after our closing date. We had a ten-day extension written into the sales contract, so we were concerned by not alarmed.

Two days prior to the scheduled closing date, Rocket called and told us the loan had been denied due to "change of intent." Saying that when the loan originated the house was to be our primary residence, but since it was no longer the case the loan could not be processed. They had no explanation as to why we weren't informed of this 3 weeks prior, when we had told them, so that we could have sought other financing. Their only excuse was that they're very busy and it probably took 3 weeks for that information to get to underwriting. Mind you, none of the financials had changed, we were still putting down the same 25%, the interest on the loan was the same, as was the length of the loan. Despite repeated attempts to rectify this, including submitting a new loan request, which was denied because of their policy of not allowing a new loan application on the same property, we were left high and dry. At this point, we are hoping the sellers have some compassion and extend the sales contract for another 30 days, or we wind up losing the money we spent on the home inspection plus the $4000 in earnest money. Rocket's response to this was, "be thankful you also didn't lose $500 for the loan deposit, because we never collected that from you."

On the plus side, our original agent with Rocket was great. Things went south after the change in work location and being strung along for 3 weeks, being repeatedly told that there were zero issues with the loan and not to expect any problems, only to be blindsided 2 days before closing.

My view of Rocket, they're a mortgage mill, just following a matrix that does not allow for any deviation or personal consideration, too much business, with too few employees to handle the workload, and an underwriting department that is incapable and unwilling to actually work with people, dealing with real-life situations that can and do occur. You're just a loan number to them, nothing more. I'd avoid at all cost, and go with a local lender or broker instead.

Length of Use: Less than 3 months

Bottom Line: No, I would not recommend this to a friend

Everything started off great and simple like most people. Submitted all required documents to be prequalified. We got the letter and made an offer on a house below approval with over 20% down. Went under contract within a few days. Everything was sent over to our mortgage banker to get the process going. This is the point it all goes south. Communication becomes almost nonexistent with new requirements being added daily. Finally got ahold of someone and told them the bank statement from a tax refund 2 years ago was not possible to obtain due to that account being closed. At this point, we are denied a mortgage even though we were prequalified. They really do not seem to care or even want to try and help. Do not waste your time with Quicken Loans/Rocket Mortgage.

Bottom Line: No, I would not recommend this to a friend

Like many others, it all started great. 35 days later and an error by the mortgage banker, Jerry, calculating an escrow and we are still not closed when he told us we would close in 2 weeks. No communication and you have to hunt down the documents for insurance and employment verification yourself or it will take them forever. Even then our HR person had to call 4 different times over 4 days because she couldn't get to a live person to tell them yes...we work there.

At one point I had to explain to our mortgage lender why it makes sense to absorb closing costs by taking a higher rate if you have a short term ownership period. Are you kidding me?

Bottom Line: No, I would not recommend this to a friend

From the time we applied for the refi to closing was pretty quick. Closing costs seem astronomical, especially seeing as how Quicken already had our first loan. There was a slight issue with interdepartmental communication that delayed our closing about a week, but we worked through it.

Length of Use: 2+ years

Bottom Line: Yes, I would recommend this to a friend

Rocket Mortgage was easy and convenient to use as I travel for work. Everything was handled digitally with little effort. The team was open and honest about everything and helped me find the best version of a mortgage for my situation and goals.

Length of Use: 3–6 months

Bottom Line: Yes, I would recommend this to a friend

If you are looking for an easy, no-hassle way to buy a house, then look no further. Mike, Karen, and the rest of the team were quick and efficient! They walked us through each step of the process and worked to not only meet our closing date, but they expedited it when we had the chance to close early! Straightforward and wonderful experience!

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

I had the worst experience with Rocket Mortgage ever. They not only lie to you or don't have an answer to your question, they are a bunch of crooks and put you through hell with non-essential information and look to someone to help you which results in more and more info to gather as they string you along until enough is enough and give up. I would not recommend them to anyone or if you have time to run through worthless info that they need you to go through just to shut you up. I would look into another company, maybe one who is truthful and not put you hell as they say "next" to torture another going truthful soul. They get a -10 in my book.

Length of Use: 2+ years

Bottom Line: No, I would not recommend this to a friend