You can start the mortgage application on the Rocket Mortgage website via your desktop or mobile device. We chose to apply via our desktop computer. We also decided to submit an application for a home purchase and were greeted with the following screen.
We had to detail our current housing situation, marital status, and other personal details. This section took less than 5 minutes. We also had to provide details of the property we wanted to purchase. Doing so initiated a soft credit pull, and we received preliminary approval within a minute of the process starting.
After this process, we were able to sync our bank details to provide employment and income support and could browse through the different available options. We were impressed by how easy it was to customize loan details, such as the rate, rate type, and length of the loan term. Once we’d settled on a mortgage, we selected ‘See if I’m approved’, and thankfully, we were!
The whole process took around 20 minutes. Once we were approved, we had the option to lock our rate for 90 days. At this point, we concentrated on completing all of the required documentation to move forward with closing out the loan, which included signing the Terms & Conditions and the Loan Agreement.
All in all, obtaining a loan with Rocket Mortgage was a very straightforward and quick process. Its website is very intuitive and easy to use.