Rocket Mortgage Review 2023

Good for: borrowers who appreciate a fully digital home loan experience with mortgage rates lower than other lenders’.
By Kate Wood and  Phil Metzger 

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Our Take


NerdWallet rating 

The bottom line:

Rocket Mortgage, renamed from Quicken Loans in 2021, changed the industry with fully digital mortgage application tools and on-demand support by phone. Mortgage interest rates are on the low side, but fees are a bit higher than other lenders’.

Rocket Mortgage, LLC
Great for: digital convenience | customer service
Min. credit score
Min. down payment
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity
Learn more

at Rocket Mortgage, LLC

Pros & Cons


  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.
  • Offers the option to work with loan officers by phone if desired.


  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Doesn't offer home equity lines of credit.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Compare to Other Lenders

NerdWallet rating 
NerdWallet rating 
Min. credit score


Min. credit score


Min. down payment


Min. down payment


Loan types and products

Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity

Loan types and products

Purchase, Refinance, Home Equity, Reverse, Jumbo, Fixed, Adjustable, FHA, VA, USDA

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Full Review

Rocket Mortgage review: what borrowers say 

NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from J.D. Power and Zillow.

  • Rocket Mortgage receives a 750 out of 1,000 in J.D. Power’s 2022 U.S. Mortgage Origination Satisfaction Study. The industry average for origination is 716. (Mortgage origination covers the initial application through closing day.) 

  • Rocket Mortgage receives a 672 out of 1,000 in J.D. Power’s 2022 U.S. Mortgage Servicer Satisfaction Study. The industry average for servicing is 607. (A mortgage servicer handles loan payments.)

  • Quicken Loans, renamed to Rocket Mortgage in 2021, receives a customer rating of 4.48 out of 5 on Zillow, as of the date of publication. The score reflects more than 7,900 customer reviews.

Rocket Mortgage review: variety of loan types

  • 5 of 5 stars

Rocket Mortgage offers a loan lineup that's fairly typical of nonbank lenders. Conventional loans are available with fixed or adjustable rates, and government-backed FHA and VA loans are available, too. A customizable fixed-rate conventional loan with a term from eight to 29 years is also available, in addition to the standard 15- or 30-year mortgage.

Rocket was the largest FHA lender in the nation in 2021, boasting nearly 14,000 more FHA loans than the second-largest FHA lender.

Borrowers seeking to put their home equity to work with Rocket can look to home equity loans or cash-out refinance. Home equity lines of credit, or HELOCs, aren’t available.

Rocket Homes, a sister company to Rocket Mortgage, helps match home buyers and sellers with real estate agents.

Rocket Mortgage review: ease of application

  • 5 of 5 stars

You can apply in the Rocket Mortgage app or on the Rocket Mortgage website, which is fully optimized for mobile. You'll start by creating an account, then answering basic questions like the ZIP code where you're planning to buy a home. If you'd prefer to work with an actual person face to face (or at least, screen to screen), you can reach out to a mortgage broker affiliated with Rocket Mortgage.

Once you're satisfied with your loan choice, Rocket Mortgage verifies your qualifications and submits the application to an automated underwriting system. While the loan is in underwriting, you can sign in to your Rocket account (in a web browser or the app) to manage outstanding tasks, upload documents, e-sign paperwork and monitor the progress of your loan processing. 

Rocket Mortgage review: rates and fees

  • 3 of 5 stars

  • Rocket Mortgage earns 2 of 5 stars for average origination fee.

  • Rocket Mortgage earns 4 of 5 stars for average mortgage interest rates.

Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.

Rocket Mortgage review: rate transparency

  • 4 of 5 stars

On its rates page, Rocket Mortgage offers sample rates for fixed-rate purchase and refinance loans. There, you'll find its current interest rates and APRs, as well as the points you'd need to buy upfront to get a given rate and APR combo, for 30-year fixed rate home loans as well as 30-year FHA, VA and jumbo loans.

You can also select "view legal disclosures" to see the assumptions Rocket makes to determine those rates (for example, that the loan is for a single-family home that will be a primary residence); viewing sample rates isn't the same as getting personalized rates.

For rates customized to your situation, you'll have to begin the process of applying online with Rocket Mortgage. Even "pre-qualified approval" (Rocket's version of pre-qualification) includes a hard credit inquiry, so it's important to be sure you're serious about considering Rocket as a lender before applying.

Alternatives to Rocket Mortgage

Here are some comparable lenders we review that borrowers can consider.

Better offers a similar digital experience, and Freedom Mortgage, the nation’s second-largest FHA lender, offers comparable government-backed loans.

Getting ready to buy a home? We’ll find you a highly rated lender in just a few minutes.

Enter your ZIP code to get started on a personalized lender match.


More from NerdWallet

at Rocket Mortgage, LLC


NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).