VA loans: Active-duty servicemembers and veterans can get approved for this lower-rate mortgage without a down payment or private mortgage insurance (PMI). VA lenders typically require a credit score of at least 620, but Rocket will approve borrowers with scores as low as 580. Jumbo loans: ...
Rocket Mortgage underwriting guidelines aren’t too different from other mainstream lenders. Your income, assets, credit report, and existing debt repayments will all help determine whether you’d qualify for a mortgage loan. You can expect to need a credit score of at least 620 for a conventio...
If you already have a mortgage with Rocket, the Rocket Visa Signature can help you pay down your mortgage balance. That could be helpful, but you can also find a 2% cash-back credit card that won't lock you in a single redemption option. For example, the Wells Fargo Active Cash® Ca...
Credit score: 90% reported having a credit score of 700 or higher Down payment: 42% planned to put down less than 20% Last updated January 22, 2025 Borrower experience: 4.6/5 It’s easy to get in touch with Rocket Mortgage if you need help, and the lender has a solid reputation ...
In general, lenders consider factors like your income, debt load and credit score when deciding if you’re eligible for a mortgage. You also may be required to pass the mortgage stress test. 🤓Nerdy Tip Use amortgage affordability calculatorto determine how much you can afford to pay for ...
Get our best PGA golf picks and predictions for the Rocket Mortgage Classic. PGA Tour arrives at Detroit Golf Club from July 28-31.
Rocket's HELOANs are not a good fit if you have a low FICO score. You need a minimum credit score of 680 and a debt-to-income ratio (DTI) of 50% or less to qualify for any home equity option from this mortgage lender. Plus, the percentage of home equity that you can borrow scal...
Adjustable rate mortgages may offer a low introductory rate during the fixed rate period, making them a good choice if you plan to own your home for only a few years. To qualify for a conventional loan with Rocket Mortgage, you’ll need the following requirements: A minimum credit score of...
Rocket Mortgage allows borrowers to check their credit score for free and provides helpful tools such as personalized rate estimates, loan calculators and loan comparison charts. The platform allows borrowers to upload documents digitally which eliminates the need for in-person meetings or paperwork mail...
FHA loans: Rocket Mortgage offers FHA loans, which are available to borrowers with low credit scores. The minimum credit score requirement is 580, and you’ll need a down payment of 3.5%. Note that FHA loans require upfront and annual mortgage insurance premiums, but also offer competitive in...