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Key Statistics
Total Originations
403,432
HMDA 2023
Avg Loan Amount
$0
National average
Denial Rate
0%
National average
States Active
50
With HMDA filings
At a Glance
Min Credit Score
580
Loan Types
Conventional, FHA, VA, Jumbo
Notable Features
- Fully digital application
- Rate lock for up to 90 days
- Custom mortgage solutions
HMDA Lending Data
Top states by refinance origination volume. Source: HMDA 2023
Pros and Cons
Pros
- +Streamlined online process with fast pre-approval
- +Wide range of loan products including jumbo
- +Highly rated mobile app and customer support
Cons
- -Origination fees may be higher than some competitors
- -No in-person branches for face-to-face meetings
- -Limited home equity loan options
Frequently Asked Questions
Is Rocket Mortgage good for refinancing?
Rocket Mortgage is rated 4.5/5 on Wirly and is best suited for borrowers looking for online experience. They processed 403,432 refinance originations nationally in 2023, according to HMDA data.
What credit score do I need for Rocket Mortgage?
Rocket Mortgage requires a minimum credit score of 580 for mortgage refinancing. However, better rates are typically available for borrowers with scores of 740 or higher.
What loan types does Rocket Mortgage offer?
Rocket Mortgage offers Conventional, FHA, VA, Jumbo refinance loans. VA loans are available for eligible military members and veterans.
What is Rocket Mortgage's denial rate?
Rocket Mortgage's national refinance denial rate is 0%, based on 2023 HMDA data. Denial rates vary by state and borrower profile.
How does Rocket Mortgage handle complaints?
CFPB complaint data for Rocket Mortgage can be found on the Consumer Financial Protection Bureau's complaint database.
Ready to explore Rocket Mortgage?
Visit their site to check current rates, or use our tools to compare.
This review is for educational purposes only and does not constitute financial advice. HMDA data sourced from the CFPB. Complaint data from the CFPB Consumer Complaint Database. Wirly is not a lender or mortgage broker. See our methodology.