![]() ![]() These loans are usually best for homebuyers who don’t plan on staying in their home long-term or plan to pay off their mortgage early. However, your adjustable-rate mortgage comes with a fixed period during which your interest rate won’t move, and many loans have a low introductory interest rate during the fixed period. Unlike fixed-rate loans, these mortgages have varying interest rates that go up or down based on industry rates. Adjustable Rate MortgagesĪdjustable-rate mortgages are another type of conventional loan offered by Rocket Mortgage. There are also no prepayment penalties incurred if you decide to pay off your mortgage early. Some of these loans may require mortgage insurance if you make a down payment of less than 10%, but this varies by lender.įixed Rocket loans offer some of the best Rocket Mortgage rates for various types of homes, including single-family residences and manufactured homes. Rocket Mortgage has loans for 15 and 30 years, with 30-year loans providing the lowest monthly payments and 15-year loans helping you pay off your mortgage faster. These loans can be more predictable in terms of repayment, allowing you to keep your mortgage payment relatively the same from year to year, even if market rates go up. 15-Year and 30-Year Fixed LoansĪ fixed-rate mortgage loan is one with a fixed interest rate that won’t change over time. These Rocket products vary by lender, so you’ll need to check with local lenders to see what Rocket Mortgage products are available. Rocket Mortgage customers can choose from a variety of loan types based on their specific home-buying needs. Rocket Companies offers additional services to help homebuyers save money on everyday costs, like Rocket Auto for car buying, and Rocket Loans for personal loans and debt consolidation products. Once a mortgage is approved, you can use the app to make payments on your loan, view your documents, get home estimates, or apply to refinance your home. We also like the Rocket Mortgage mobile app ( iOs, Android), which lets you track the progress of your mortgage application and get help along the way. Some of the most popular benefits are its helpful customer service, competitive mortgage rates, various types of home loans, and ability to complete an entire mortgage application online. With its high customer satisfaction rates, it’s clear that homebuyers like what Rocket Mortgage offers and consider it one of the best mortgage lenders. You can use the Rocket Mortgage website to search for a nearby lender to learn more about potential loan options in your local mortgage industry. However, mortgage options vary by lender, so not all products may be available where you live. Rocket Mortgage serves homebuyers in all 50 states and the District of Columbia. Fairway Independent Mortgage CorporationĪvailable in all 50 states + Washington, DC.With a simplified mortgage process, preapprovals, and multiple home loan options, Rocket Mortgage is a mortgage lender that puts homebuyers first.Īs one of the best mortgage lenders, Rocket Mortgage's competitors include: Rocket Mortgage is a versatile lender with a mission to help as many types of homebuyers as possible secure a mortgage that works for them, whether they buy and flip real estate or are looking into homeownership for the first time. Minimum Credit Score: 580 Why We Like Rocket Mortgage Types of Loans: FHA Loans, Jumbo Loans, VA Loans, Conventional Loans, Refinance Loans ✅ App available on Google Play and Apple App stores In Customer Satisfaction for Mortgage Origination ✅ Customer service available 7 days a week ❌ No Home Equity Line of Credit/HELOC option The company also offers a wide range of mortgage products, like financing for manufactured and fixed-rate home equity loans, to fit virtually any homebuyer’s financial situation. Special programs help homebuyers finance their homes affordably, despite inflation and socioeconomic factors. Rocket Mortgage is the largest mortgage lender in the United States, thanks to its dedication to routinely upgrading its offerings for modern homebuyers. The company focuses on simplifying the process of getting a mortgage, with perks for customers like applying online, tracking the approval process, and finding a mortgage that matches a homebuyer's needs. Formerly known as Quicken Loans, Rocket Mortgage is a lender offering mortgages to homebuyers. ![]()
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