Rocket Mort or Rocket Mortgage is suitable for borrowers looking for a convenient online and also instant access to digital loan experience as well as a convenient customer service. Rocket Mortgage usually appears as a top online loan shopping and application process, but now offered by Quicken Loans. For the past few years and now, Rocket Mort is the leading online mortgage lender in the United States. Quicken Loans was the official new, but as of 2021, it is now known as Rocket Mortgage. When applying for a mortgage, via Quicken, you’ll be redirected to the Rocket site.
Rocker Mortgage offers a wide range of purchases and refinancing options (rocket mortgage refinance) which includes a flexible term product referred to as “YOURgage”. This enables borrowers to have the ability to set the terms of their loan range from 8 to 29 years as well as cash-out refinancing. However, in terms of application, the approval of your loan will be done by Rocket Mort over Quicken Loans.
Rocket Mortgage Loan Types
According to reports, Rocket Mortgage comes with a variety of loans compares to that of nonbank lenders. This includes conventional loans, Jumbo loans, FHA loans, VA, loan, Fixed-rate, Adjustable-rate, Rate, and terms, cash-out and streamlines refinancing, investment property, and flex-term.
For conventional loans, VA loans, and FHA loans that include a fixed or adjustable rate. You can also find a customizable fixed-rate conventional loan that comes with an 8 to 29 years term. According to reports, in 2020, Quicken was considered as the second-largest FHA lender, even if FHA loans percentage raise to 7% of it total business.
Rocket Mortgage Rates and Fees
First of all, when considering selecting a mortgage lender, it’s always advisable and important to understand the cost of a loan and also compare it with other loan rates. If you want to check out the rocket mortgage rates, here is the table:
|30-Year Fixed||3.125%||3.358%||2.125 ($6,375.00)|
|15-Year Fixed||2.375%||2.789%||2.125 ($6,375.00)|
|VA 30-Year Fixed||2.5%||2.864%||2.125 ($6,375.00)|
|FHA 30-Year Fixed||2.375%||3.322%||2 ($6,000.00)|
Quicken Loans Refinance Rates
|30-Year Fixed||2.99%||3.244%||2.125 ($4,250.00)|
|15-Year Fixed||2.5%||2.975%||2.25 ($4,500.00)|
|VA 30-Year Fixed||2.875%||3.296%||1.875 ($3,836.00)|
|FHA 30-Year Fixed||2.625%||3.585%||2.125 ($4,324.00)|
These are the following quicken loans mortgage rates. Keep in mind, in recent times, the rate changes, you can visit the website where you can find the Rocket mortgage rates.
Rocket Mortgage Application
Rocket Mortgage provides a convenient way where you can apply for a mortgage loan online. This application is very simple and fast. There are two places in which you can apply for a Rocket Mort loan which include the app or on its website. There are simple steps to controlling your mortgage loan which includes
Step 1 Appy Online
Visit the website or use the Rocket Mortgage app for your application. Full out the necessary information needed.
Step 2 Get Approved
After the application, you can check the amount offered or how much loan you’ve been approved for. Then you can either purchase your home or move forward with your refinance.
Step 3 Close your loan
The next thing you need to do is make use of your to-do list in other to verify your information and get it close fast.
Manage your Mortgage
Finally, you can make payments online when you can to repay your loan.