Rocket Mortgage

The only reason I will give an average review is thanks to my care specialist Jessica Vast. She was awesome. Other than her, most employees were careless, inefficient, or incompetent and unhappy with their jobs.

Length of Use: Less than 3 months

Bottom Line: No, I would not recommend this to a friend

Initially friendly staff, easy-to-talk-to agents, and website is easy to use. The downside was when we needed certain transcripts by a certain time they wouldn't tell us until the last minute. Zero communication between the realtor and Rocket Mortgage, most staff were honest and kind.

Had an issue with one of the closing agents not communicating with us and 3rd party realtor. The estimated down payment needs to be adjusted because our final number wasn't really close to what they "estimated" it would be, also our mortgage rate was $100 over the estimated price per month. The agents worked effectively and efficiently to meet most our needs, we had some problems with the end paperwork, such as no one told us we couldn't use cash for down payment. In my opinion, you need to warn buyers that cash is prohibited and explain what sourcing means, we knew none of this until it became a MASSIVE problem.

Frustration levels through the roof for simple things and just not talking to one another. Our realtor had to reach out multiple times to Rocket just to get basic information, just unnecessary. Our overall experience was 6.3/10.

Length of Use: Less than 3 months

Bottom Line: Yes, I would recommend this to a friend

I started this whole process in July and finally closed in late September.

My initial mortgage was an FHA loan. The original case agent thought a conventional loan would net me more cash out, which I needed to replace my roof.

I went through the process, including an appraisal. The cashout was not even close to what I needed.

Then I had to go through the entire application process again for an FHA loan. I had to go through another appraisal because FHA has stricter guidelines. The second appraisal reported some repairs that I had to take care of and have inspected before I could move forward. Which I did and the inspection confirmed that the repairs were satisfactory.

During all this time, the closing documents never showed a cashout that was even close to what I needed. I kept telling the case agent that I was concerned about it, but he just kept saying it would be ok when I closed. He said the exact amount doesn't show until closing. I find that very confusing and extremely stressful.

I started this whole process in July and closed in late September. I ended up with barely enough cash out to take care of getting my roof replaced.

It took a long time, but I did finally get it accomplished.

Length of Use: 2+ years

Bottom Line: No, I would not recommend this to a friend

The process was pretty easy and very quick. I closed within a month, and even though a few things did come up at the end, Quicken was able to handle it fast enough to keep the original closing date. The only thing I didn't care for was in the middle of the process it was confusing what exactly was going on since I had many people who were involved and all willing to help, but maybe too much help. But overall, I loved the experience and will use Quicken again when I sell this place and buy my next home.

Bottom Line: Yes, I would recommend this to a friend

Well, it wasn't easy like the commercials portray, but we did have a good experience once we realized the type of loan we qualified for requires extra documentation. A bit heavy on the techy side vs. personal touch, but all in all, a good experience.

Bottom Line: Yes, I would recommend this to a friend

The overall process was good, although there were a lot of gaps (a week or more) when things seemed to be on hold, yet I understand things were moving forward. But more communication would have helped as others that have done Quicken Loans said it only took a couple of weeks (my process took two months). The notary was late for the signing and had excuses but no apology. Planning ahead would have eliminated her excuses; I had to go to office to print papers, which could have been done a day ahead and traffic (traffic is bad in the morning so one leaves early to arrive on time) and lastly I was not informed that the checks would be sent to me and was not looking for them. I found them inadvertently when I went to mow the lawn and they were in a soaking wet UPS envelope by my front door. I have no idea when they arrived or why they were wet since there is a covered area at the door and no puddles anywhere. The actual loan process was good, just the little side things that went poorly.

Bottom Line: Yes, I would recommend this to a friend

I applied for my mortgage through Rocket simply for the ease of it being online. With everything going on in my life, I really didn't have time to go and meet with anyone at a bank. When I sold my home in Atlanta, the buyers financed their mortgage through Rocket, and everything went really well, so I figured I would give it a shot. I applied online and had my approval within a few minutes. This was such an easy process compared to my first home purchase. Once I found the home and put my offer in, I was able to connect easily with Rocket staff to get my mortgage moving and approved. Since everything was online, I was able to check the progress each day and send messages to check in when I hadn't heard anything. We closed on time, which made everyone very happy.

Bottom Line: Yes, I would recommend this to a friend

My biggest issue was straightening out our payoffs. We would call to have items fixed or amended, and when we looked the next day, they would be fixed, but other items had been added. We had literally just told them that everything else was fine, but we would have to call back again. Right before our closing, they added a payoff amount that we had proven to be in error back on to the payoff list. We had to call again the day of our closing to get it fixed. We had straightened it out previously, but the employee that we had talked to never made the change. It made the final few days very stressful. Prior to those issues, it was wonderful. They were easy to get a hold of for any issues and very helpful.

Bottom Line: Yes, I would recommend this to a friend

Overall, we had a very good experience with Rocket Mortgage. Our credit score was not very good, but Rocket Mortgage was able to do a few things to work around this. We were able to re-finance our present mortgage and save over $300 per month with a 15-year refi. The people at Rocket Mortgage were very knowledgeable and very customer service oriented.

The only negative aspect of the Rocket Mortgage experience related to the property appraisal. At first, we were told that we would not even have an appraisal since one had just been completed by Loan Depot a few weeks earlier. The Loan Depot appraisal came in at well above the loan amount ($380,000 appraisal vs. $180,000 loan amount), although below what we believe the true market value of our property is. In addition, the Loan Depot appraisal was performed for an FHA loan, which is typically more stringent than a for a conventional loan. In any event, Rocket Mortgage wanted another property appraisal, but told us they would "waive" the appraisal fee since we already paid for the Loan Depot appraisal.

The Rocket Mortgage appraisal came in at substantially less ($325,000) than the Loan Depot appraisal, but once again well in excess of the $180,000 loan amount. But unfortunately, this was the appraisal that was used on the Rocket Mortgage loan documents and has become public record. In our estimation this is almost $100,000 below what we believe to be the actual market value of the property, so we are very upset about this.

And the topper came when our Rocket Mortgage loan advisor told us that "waiving" the appraisal fee only meant that we didn't have to pay for it up front and that it would be rolled into the loan amount. That's when I pretty much threatened to pull out of the whole refi deal unless they deducted the appraisal fee completely. To Rocket Mortgage's credit, they did offer us more than the actual appraisal fee in credits on the refi, but the whole appraisal situation left us with a less than satisfactory feeling about the deal.

Bottom Line: Yes, I would recommend this to a friend

It was nice working with the team I did. They were very fast at responding, knowledgeable, and took their time helping us do what we needed to do.

Closing was a bit of a mix up as we were told an estimated closing cost but when it came time to close jumped up $2000. But they explained why and how.

I would suggest they increase their estimated closing cost even more for these type of times. As they told us they always estimate high.

Bottom Line: Yes, I would recommend this to a friend

Being able to accomplish everything online except the final signing of the mortgage loan was a big plus, very convenient. The portal that they use to communicate and upload all documents requested is set up very well and is easy to use.

I think the only thing that I didn't like was that both owners (like husband and wife) have to set up individual portals and then end up having to upload all the same documents on each portal. There must be a whole lot of duplicates. It would be much better to just have it as one portal asking for all the husband and wife shared documents (joint tax returns, joint bank statements...) and then ask for anything that might be individual to the husband or wife be uploaded singly to the portal.

The process was very good overall, and I would consider working with Rocket Mortgage again in the future if the need arose.

Bottom Line: Yes, I would recommend this to a friend