Doesn’t offer USDA loans or HELOCs: Rocket Mortgage is missing some popular loan types, including USDA loans and home equity lines of credit (HELOCs). Above-average interest rates: Rocket Mortgage’s posted interest rates for fixed-rate 30-year loans are higher than the current average rates...
Rocket Mortgage offers home loans in all 50 states and Washington, D.C., including conventional, jumbo, FHA and VA loans. It does not issue USDA mortgages. Fixed-rate: With a fixed-rate mortgage, borrowers have the same rate for the life of the loan. Rocket offers 30-year and 15-year...
This type of home loan can be used with as little as $0 down and with easy credit qualifying and limited closing costs. USDA Loans: Rocket Mortgage also offers USDA home loans that meet requirements set by the United States Department of Agriculture. These home loans are intended for ...
VA loans: Eligible service members, veterans, and surviving spouses can buy homes with no down payment, lower credit requirements, and no continuing mortgage insurance payments Jumbo loans: Borrow up to $2.5 million, if Fannie Mae and Freddie Mac’s conforming loan caps are cramping your style ...
In addition to 30-year and 15-year fixed rate FHA loans, Rocket Mortgage also offers FHA-backed adjustable rate mortgages. Here are the requirements: A minimum credit score of 580 An initial minimum down payment of 3.5% An upfront mortgage insurance premium of 1.75% of the total loan ...
Rocket Mortgage offers loans with different requirements to meet the needs of most borrowers. If your credit score is in the 580-620 range, you might qualify for an FHA loan from Rocket Mortgage. For a conventional mortgage, you'll need a 620. For Rocket Mortgage's lowest mortgage interest...
This is really among the widest arrays of mortgage loans in the marketplace, specifically for an lender that is online. You can even compare your loan choices included in the application for the loan procedure. Some, demonstrably, have actually rather requirements that are limiting. A VA loan,...