What is Quicken Loans Rocket Mortgage?
Quicken Loans Rocket Mortgage is an online direct-lending platform that provides residential mortgages and home loan products. In July 2021, Quicken Loans changed its name to Rocket Mortgage. The company is the largest mortgage lender in the United States and consistently receives high customer satisfaction ratings among primary mortgage originators in the country.
Rocket Mortgage offers various loan products that can be applied for and managed online , including mortgages, personal loans, and refinancing. One of the unique features of Rocket Mortgage is its fully digital process, which allows borrowers to complete the entire application and approval process online.
The company's commitment to technology has led to a streamlined application process that can be completed in minutes, and Rocket Mortgage also offers flexible fixed-rate loan terms through its YOURgage program. The program lets borrowers select a customized term that suits their needs, rather than traditional fixed-term loans.
Overall, Rocket Mortgage has revolutionized the mortgage industry with its fully digital process and dedication to customer satisfaction. Its range of loan products and commitment to technology has made it one of the most popular mortgage lenders in the United States.
Frequently Asked Questions about quicken loans rocket mortgage
What is Rocket Mortgage? Rocket Mortgage® is an online mortgage experience and America's largest mortgage lender1. Rocket Mortgage® isn't a calculator; it's a way to get a mortgage. Just tell us about yourself, your home and your finances, and we'll give you real interest rates and numbers – not just our best guess.
Is Rocket Mortgage the Same as Quicken? Yes. Rocket Mortgage used to be called Quicken Loans. However, the corporate name was changed in May 2021 so as to be consistent with the name of its parent company, Rocket Companies.
Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan.
Quicken Loans officially changed its name to Rocket Mortgage as a nod to what the company does best – take a complicated process and make it simpler and faster using technology.
Rocket Mortgage is an online direct-lending platform for residential mortgages and home loan products. Rocket Mortgage was formerly known as Quicken Loans, but officially changed its name in 2021. Owned by Rocket Companies, Rocket Mortgage has grown to become one of the most popular mortgage lenders in America.
Rocket Mortgage has closed more than $1.6 trillion in home loans since 1985 and services more than 2.4 million families' mortgages every month. Rocket Mortgage net client retention rate was 97% over the 12 months ended June 30, 2023.
fair credit scores
Rocket Loans is best for borrowers with fair credit scores who need money fast. Rocket Loans is transparent about its loan process. It also serves borrowers with fair credit scores as low as 640.
The top competitors of Rocket Mortgage include Better Mortgage, Clara, LoanSnap, Tomo and Kiavi. Rocket Mortgage has 445 active competitors. Here is a list of the top 10 competitors of Rocket Mortgage, ranked by Tracxn score: Better Mortgage - New York City based, 2014 founded, Series E company.
Quicken Personal Finance and Money Management Software.
Rocket Mortgage is an online direct-lending platform for residential mortgages and home loan products. Rocket Mortgage was formerly known as Quicken Loans, but officially changed its name in 2021. Owned by Rocket Companies, Rocket Mortgage has grown to become one of the most popular mortgage lenders in America.
Rocket Mortgage
Largest Mortgage Lenders in the U.S. by Dollar Amount, 2022, HMDA Data
| Rank | Lender | Amount |
|---|
| 1 | Rocket Mortgage | $127,577,235,000 |
| 2 | United Shore Financial Services (United Wholesale Mortgage) | $127,513,645,000 |
| 3 | Wells Fargo | $78,976,195,000 |
| 4 | Chase | $72,661,605,000 |
Rocket Loans is best for borrowers with fair credit scores who need money fast. Rocket Loans is transparent about its loan process. It also serves borrowers with fair credit scores as low as 640. But consumers with excellent credit can likely get a personal loan with lower fees elsewhere.
Rocket Mortgage stands out as the nation's No. 1 FHA lender, helping borrowers with limited down payment funds, but all home buyers and refinancers can take advantage of the lender's convenient website and app to both apply for and manage their loans. Rocket consistently ranks No. 1 in customer-satisfaction surveys.
Largest Bank Mortgage Lenders in the U.S. by Dollar Amount, 2022, HMDA Data
| Rank | Lender | Amount |
|---|
| 1 | Wells Fargo | $78,976,195,000 |
| 2 | Chase Bank | $72,661,605,000 |
| 3 | Bank of America | $53,522,050,000 |
| 4 | First Republic Bank | $43,912,145,000 |
The 10 largest mortgage lenders by originations. The top 10 largest lenders by number of mortgages originated last year are: Rocket Mortgage. Still the biggest player, Rocket originated 464,000 loans worth $127.6 billion in 2022, according to HMDA data.
Quicken tracks your account balances, transactions, investments, personal budgeting, loans, and any other part of your personal financial life. The Home & Business version includes the ability to track rental properties and small businesses in addition to your personal information.
