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Quicken Loans Reviews


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Written by Lauren Le-Hair

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Quicken Loans Mortgages Review

Quicken Loans rebranded to Rocket Mortgage in July 2021. Throughout the rebrand, Rocket Mortgage has taken on the reins of Quicken Loans and remained the largest mortgage provider in the US. The company offers mortgages and home refinancing options and is famed for its straightforward application process.

Sure, there are more competitive mortgages available in the marketplace. Still, Rocket Mortgage has built its rock-solid reputation through its easy-to-apply-for mortgages and excellent customer service.

Quicken Loans Mortgages Highlight


Min Credit Score

Max $3M

Mortgage Amount

8-30 years

Repayment terms


Soft Credit Pull


Lender Type


Underwriting Fee


Other Fees

$1,200 on average

Origination Fee


Prepayment Fee

26 Days

Funding Time



Mortgage Refinance


Mortgage Amount

Home Equity


Mortgage Amount

Pros & Cons

  • con-icon Rate Lock
  • con-icon Online application process
  • con-icon Good reputation for customer satisfaction
  • con-icon Pre-approval available
  • con-icon Fees could potentially be high
  • con-icon No physical branches available

Mortgage Type

  • Mortgage Purchase
  • Mortgage Refinance
  • Fixed
  • Adjustable
  • FHA
  • USDA
  • VA
  • Jumbo

Quicken Loans Mortgages Terms & Requirements

All applications for a Quicken Loans mortgage are now processed through Rocket Mortgage. Rocket Mortgage’s loan terms and requirements are as follows:

  • US citizen or permanent resident
  • Credit score over 620
  • Minimum down payment of 3-5% 
  • Debt to income ratio must be lower than 50%
  • Mortgage closing costs are 2-6% of the house price.

You can expect the following financial terms as part of your Rocket Mortgage loan:

  • APR: Between 6.475% and 7.186%
  • Loan amount: Up to $645,000 with some exceptions, e.g., Jumbo loans
  • Mortgage Types: Conventional, refinancing, FHA, USDA, VA, Jumbo, fixed rate, variable rate

APRs vary based on the type of mortgage and length of the term. If you see a rate that you like, you can lock it for 90 days to benefit from it at a later date. 

Quicken Loans mortgages (via Rocket Mortgage) are available for between 8 and 30 years. Adjustable rate mortgages (ARM) are also available. These come with five years of fixed-rate payments, followed by 25 years of payments at a variable rate. 

How to Apply

Now that Quicken Loans are Rocket Mortgage, any mortgage applications will redirect to the Rocket Mortgage website.

The process started with us filling out personal details, including marital status, current home, financial status, and the house we wanted to purchase. These details initiated a soft credit pull, and we received initial approval. This process took less than five minutes. 

We could then sync our bank account to confirm our financial status alongside providing proof of employment. Doing so led us to view all mortgage rates and the products available to us.

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. This process included signing the Terms & Conditions and the Loan Agreement. 

Overall, we found the process of obtaining a Rocket Mortgage loan to be quick and easy. Rocket Mortgage has utilized modern technology to enhance the experience without making it complicated.

Qualification Requirements

To be considered for a Quicken Loans (now Rocket Mortgage) mortgage, you must meet the following conditions:



Min. credit score

620 for conventional loans

580 for government loans

Debt-to-income ratio Maximum DTI ratio of 50%
Citizenship Available for US citizens only
Age Minimum age of 18
Job Status Must have steady employment and be able to provide proof of income
Bank Account Proof of bank account is required during the onboarding process

Required Information

During the application process, you will have to provide the following information. You can upload all of these documents online. You can even sync your bank account to make the income verification as easy as possible.

  • Name
  • Address
  • Date of birth
  • Social Security Number
  • Phone number
  • Email address
  • Monthly income details and proof of income
  • Employment history
  • Details of your current housing situation
  • Details of the house that you want to purchase

Application Steps & Time Frames

The first stage of the application took less than five minutes. After receiving preliminary approval from the soft credit pull, it took an extra fifteen minutes to give the next wave of information. The application process is as easy as any in the marketplace. Funds are typically cleared after twenty days, which is slightly slower than the average time for the industry.

State Availability

- Available in all states

Written by Lauren Le-Hair linkedin-icon

As an experienced content writer, Lauren's passion for the finance sector is only exceeded by her love of writing. With years of experience writing for financial websites, she has honed her expertise and developed a deep understanding of the industry. Lauren specializes in delivering top-quality, specialized content with an expert tone of voice and a unique flair, leveraging her extensive knowledge and expertise. In addition, she holds a First Class Bachelor's degree from Staffordshire University.



Are Quicken Loans and Rocket Mortgage the same?

Yes, on 31 July 2021, Quicken Loans rebranded to Rocket Mortgage.

Where are Quicken Loans mortgages available?

Through Rocket Mortgage, mortgages are available in all 50 states.

Do I need a good credit rating to get a Quicken Loans mortgage?

To be considered for a loan through Quicken Loans (now Rocket Mortgage), you will need a credit rating of at least 620.

Customer Support

Despite not having a physical presence, Quicken Loans has an outstanding reputation for customer service. You can contact the friendly yet professional customer support team seven days a week via phone, email, live chat, or social media.

Privacy & Security

Quicken Loans states that while it will share your data when necessary with third parties to approve mortgages, it will never give your data to outside parties for marketing purposes. The company’s website claims that it adopts industry gold-standard practices concerning data privacy. You can also email Quicken Loans at any time to request the removal of your personal data. The Better Business Bureau gives Quicken Loans a 5-star rating, solidifying its reputation.

In Conclusion

Quicken Loans, now Rocket Mortgage, has solidified itself as an industry leader by leading the movement toward online-only mortgages. Its mortgage approval process is super straightforward and easy to navigate. While slightly more competitive rates are available in the market, the smooth application process and solid reputation show why Quicken Loans has had so much success.

Brand Disclaimer

Rocket Mortgage Disclaimer: ©2000 – 2020 Quicken Loans, LLC. All rights reserved. Lending services provided by Quicken Loans, LLC., a subsidiary of Rock Holdings Inc. “Quicken Loans” is a registered service mark of Intuit Inc., used under license. Quicken Loans® (also doing business as Rocket HQ), Rocket Homes Real Estate LLC, and Rocket Loans® are separate operating subsidiaries of Rock Holdings Inc. Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation and applicable legal and regulatory requirements.