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As of December 19, 2017, MyQL is now referred to as Rocket Mortgage.

At Quicken Loans, we’re obsessed with finding a better way to help our clients get a mortgage. That’s why we built Rocket Mortgage, a completely online, self-service mortgage experience. With Rocket Mortgage, we’ve blasted the mortgage industry into the 21st century and given clients a way to get a mortgage approval that’s completely online.

We’ve worked very hard to make Rocket Mortgage as easy to use and intuitive as possible, but we know you might still have some questions, so we’ve compiled a list of some of our more frequent questions here.

How is the Rocket Mortgage process different than the traditional mortgage process?

Rocket Mortgage is a fast, powerful and completely online way to get a mortgage. With Rocket Mortgage, you can easily get approved for a real mortgage solution that is customized to your needs and financial goals. However, there are a number of factors, such as your appraisal, that determine how long it takes to actually close your loan.

Is Rocket Mortgage safe and secure?

Rocket Mortgage offers 24/7 security monitoring, bank-level encryption and industry-leading privacy guidelines.

How is the Rocket Mortgage experience different from the typical Quicken Loans mortgage experience?

Rocket Mortgage offers the same award-winning, client-focused experience as Quicken Loans – except it’s completely online.

What if I decide I need to talk to somebody?

At any point in the Rocket Mortgage process, you can choose to talk to a Home Loan Expert via online chat or by phone.

I’ve been approved by Rocket Mortgage. What’s next?

After you’re approved, you’ll use our easy online tool, MyQL, to provide any further information we may need to close your loan.

Don’t see your question on the list?

If you’re already in the process of getting your loan, or you have a question on a loan that’s already closed, you can reach our Client Relations team at (800) 979-5133.

If you have a question about a new loan, please call (800) 304-1225.

If you’re still not sure, simply leave us a note in the comments and we’ll have the right person get in touch with you.

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This Post Has 295 Comments

  1. I am interested in purchasing a home in the near future. However I have been denied online. Is there someone I can speak with that can tell me what I need to do to achieve approval status in the future.

    Thank you.

    Dawn

    1. Hi Dawn:

      We can absolutely do that for you and give you some advice to get on the right track. I’m going to have someone reach out in the morning. Have a good night!

  2. So disappointed on ROCKET MORTGAGE appraiser. Seem like these appraiser don’t know what they are doing in my case and loan officer did not anything about this.

    1. I’m sorry to hear you had this experience. While appraisers are independent, we would certainly like to look into your issue and see if we can help you get back on track. I’m sending this to our Client Relations team. Thanks for reaching out!

  3. We have filled out papers online for refinancing. At this time, we have changed our mind about refinancing our loan. the loan needs extension. But like I said we don’t wish to refinance at this moment. What do we need to to do?

    1. Hi:
      In this situation, you’ll have to contact your loan servicer. If your loan us with us, you can call (800) 508-0944. Hope this helps!

  4. What credit bureau does rocket Loans check through? Or do they check a combination of all three for the score approval?

    1. Hi Cedric:

      Great question. It’s a combination of all three and the lowest median credit score of all clients on the loan is the one that counts. I do want to make sure you’re getting to the right place. RocketLoans is our sister company and they do personal loans. Rocket Mortgage is from Quicken Loans and that’s what you would use for mortgages. Otherwise, one of our Home Loan Experts would also be happy to help at (888) 980-6716. Hope that helps!

  5. What are the minimum condition of the house that I am trying to get a loan for. The house that I need a loan for is a working progress, I have already put new heating and air, new plumbing, updated the kitchen and painted. The roof is not in the best of shape but is still functional. The outside is a little rough but nothing crazy, and the privacy fence needs some work. I do not have the money to fix everything I was just wondering what the exceptions of the condition needs to be.

    1. The appraiser will determine the condition of the roof. There is sometimes a minimum life expectancy that you have to meet, but none of these other things sound like trouble particularly. If there was chipping paint in a house that was old enough it might be an issue. But I would recommend speaking to one of our home loan experts at (888) 980-6716.

  6. In using Rocket Mortgage, can closing costs be included in the loan amount, or do they have to be paid completely separate at the time of closing?

    1. Hi Ronnie:

      Closing costs can be included in the loan amount. If you would like to get started, you can do so here. One of our Home Loan Experts will also be happy to help at (888) 980-6716 if you prefer.

  7. we just have a question 7 yrs ago we bought a foreclosure house remodeled it we owe very little on it. we have found a little house in a small town close to family we would like to buy and remodel,we would pay this one off once it is sold how do we do this we have several interested people

    1. Hi Bill and Jan:

      This is a fairly common purchase agreement request. You can ask to make the deal on the new home contingent on the sale of the previous one. The seller can choose whether or not to agree to those terms, but that sort of thing isn’t out of the ordinary. If you want to get preapproved on the new financing, you can do so through Rocket Mortgage or give one of our Home Loan Experts a call at (888) 980-6716. Hope this helps and have a great day!

      Thanks,
      Kevin

  8. Hello, I started an online application almost 2 years ago but never completed it. Now that I am ready to fully apply, it still references the loan date of 2 years ago. I also get an error message that does not accept a proper close date of this year. Is it possible to delete the original application that was never completed? Thanks

  9. Loan number
    I have some additional questions to those I have listed in my above comments. What exactly are the Prorations Charged to the Buyer in the amount of $428.61? What do these fees actually cover and what are their purpose. This fee as listed seems to be purposely vague. Are these funds ever returned to the buyer? They appear to be an added fee to the Prepaids and Escrow items due at closing. Not only are they not necessary, they are a duplicate cost meant to rise the cost of the mortgage unnecessarily solely for the benefit of Quicken Loans. They are completely unnecessary, purposely vague, and an additional cost. They mean nothing to me. Please explain in great detail why Quicken Loan has hidden this fee, when it appears to be covered by other fees. Also, your explanation of your equally vague and unnecessary Aggregate Adjustment needs much further explanation. The fee is very specific, yet it is described as an estimate of costs due at closing. An estimate should not be so specific. My escrow account should cover this “estimated” cost due at closing. Once again it appears to be a duplicate and unnecessary cost merely to benefit the Lender. Any deficiencies in the mortgage escrow should be reflected and indicated only in future monthly mortgage payments and not paid upfront so specifically. It is clearly an arbitrary and unnecessary payment added to the Items that should not be collected by Quicken Loans at closing. Such a high and specific fee amount is clearly unnecessary at closing and that any adjustment to the escrow account to maintain the balance throughout the year should be more properly made only throughout the year in my proposed monthly payment and if really necessary (which it should not I your figures are accurate) should only be paid as as a monthly adjustment to the estimated monthly mortgage payment and definitely not paid upfront and definitely not paid at closing. The specific fee of $170.73 seems highly superfluous, and seems to be one more extraneous hidden fee to heighten Quicken Loans bottom line at closing. Finally, how in the world did Quicken Loan devise such specific fees, to the penny, for both the prorations charged the buyer as well as the aggrevate adjustment when both the taxes and insurance are paid at closing where any adjustments over the first year of the mortgage would be highly minimal and not nearly at the high cost level projected by the Lender. It appears to be a very bad practice and an unnecessary and costly burden, if not totally arbitrary, to the borrower who is after all Quicken Loans customer and hopefully future repeat customer. In my opinion, Quicken Loan should remove both these arbitrary fees in the interest of fair and forthright practice.

    1. Hi James:

      We don’t want to hide any fees from you. You have some very specific questions to your situation, so I’m going to get this to our client relations team so someone can reach out and give you a full explanation. Thanks for reaching out!

      Kevin

  10. When I did the application online, it says I would need to talk to a lender. Does this mean the application was turned down? My credit score is between 610-650 depending on where it’s pulled. My income shouldn’t be a problem and I’ve been on my job for 7 years.

    1. Hi Jessica:

      It doesn’t necessarily mean you were turned down. We are constantly adding new capabilities, but Rocket Mortgage doesn’t currently handle every possible lending scenario. I’m going to get this over to our Client Relations team and we’ll make sure to get you on track so you can do as much online as possible.

      Thanks,
      Kevin Graham

  11. Hi I used Rocket mortgage in step 7 it’s never showed the results what’s should I do .. it’s shows message *don’t worry we here crunching your number it’s been 1 hour still no results.

    1. Hi Amar:

      Sorry about that. I’m going to have someone reach out from our client relations first thing in the morning team so we can get this straightened out for you. Thanks for reaching out!

      Kevin Graham

    1. Hi Beatrice:

      Nothing went away. We just did a rebranding and added some new features. MyQL is now Rocket Mortgage. That being said, we want to make sure you can get into your account and make the transition as smooth as possible. I’m going to have someone reach out to you today.

      Thanks,
      Kevin Graham

    1. Hi Katerina:

      Unfortunately, you can’t get a USDA loan through Rocket Mortgage at this time. However, you can get started online. One of our Home Loan Experts will also be happy to help you if you give us a call at (888) 980-6716. Hope this helps!

      Thanks,
      Kevin Graham

    1. Hi Rick:

      There are no restrictions on selling the home. If you’re renting the home, it needs to be refinanced as an investment property. Rocket Mortgage isn’t set up for that right now, but one of our home loan experts could absolutely help you get started if you fill out this form or call (888) 980-6716.

      Thanks for reaching out,
      Kevin Graham

  12. I applied for a mortgage, when I entered my husband’s information, two previous employers came up that he has never had. Has someone possibly stole his identiy. I’m just rying to figure out what’s going on.

    1. Good morning:

      I’m going to make sure someone from our client relations team reaches out about this. Thanks for coming to us.

      Kevin Graham

  13. My husband and I are looking to refinance our existing mortgage and use additional equity in the house to pay off some credit card debt. The problem is when my credit union runs the score it is a vantage score of 600. When I purchased the 3 credit bureau fico I am a 704,,I even purchased the one for mortgages and it shows 680 something. I’m not sure why there is a 100 point difference. My husband also has a difference but both scores are good enough for it not to matter.

    Looking to take about an 80% ltv, probably about $170,000. We make $130,00 a year. I know that you do not disclose what type of model you use, but I do not want to waste anyone’s time if we will be turned down right away. Should we even bother to apply. The credit union told us that the only item preventing the loan is the credit score.

    1. I can tell you we don’t use Vantage score. We use a version of the FICO formula. That said, I would wonder very much why there is a 100 point difference. I would look to see if there were any errors on the report if I were you. One of our home loan experts could go over your situation in more detail if you give us a call at (888) 980-6716. Hope this helps!

      Thanks,
      Kevin Graham

  14. I am buying my home on a land contract since 2013 and went to see about getting a mortgage in my name through the bank that holds the mortgage. I was approved for a ‘refinance’ until the question “how do I make the payments?” was answered, “with cash”. Since I do not have proof payments were made even with receipts from the deed holder (the person I am buying the home from), I was told it would take me at least 12 months to be eligible to refinance providing I make on-time payments with money orders or cashiers checks (cancelled checks were mentioned as well but not quite sure how a cancelled check proves anything). I guess my question is this: since I am in a land contract can I buy the house through a first-time buyer mortgage via FHA loan or other option through a different mortgage company without refinancing? Or are there other refinance options available that would work with a cash payment history?

    1. Hi Stephen:

      Unfortunately, you generally need at least 12 months of mortgage or rent history. Believe it or not, canceled checks do work if you have those in a lot of cases. I wish I could give you better news.

      Thanks,
      Kevin Graham

  15. I have two questions.
    1.> I am on a payment plan with the IRS for some past taxes. Will this register as a delinquent payment and impact my ability to get a loan?

    2.> I am carrying some credit card debt. I have two 401Ks right now and can borrow up to 30K from them. I was thinking of taking out one loan for 5k to reduce my debt and increase my credit score. The online simulators seem to think this would work as long as I reduce the CC debt to a decent percentage. With the improved credit score, I was going to borrow another 10k for my downpayment. It this a pointless exercise?

    Thanks,
    Scott

    1. Hi Scott:

      You can potentially get an FHA loan while on the repayment plan. As far as the credit card debt and the 401(k) questions come I think it would be best to talk to one of our Home Loan Experts to get advice before making any moves. You can get in touch with them by filling out this form or calling (888) 980-6716. They would be able to give you guidance or point you in the right direction.

      Thanks,
      Kevin Graham

  16. Is a short sale in recent past (2 years) an obstacle? Or are there options to refi existing mortgage. Credit score is 720 +.

    1. A short sale may limit your options. That being said, there’s still potentially an alternative or two that are available to you. You definitely need to talk to one of our Home Loan Experts. You can get in touch with them by calling (888) 980-6716 or filling out this form at your convenience.

      Thanks,
      Kevin Graham

  17. Does the online Rocket Loans pre-approval process do a hard pull on credit? Or a soft pull? We have had some credit issues in the past, but have managed to work through a slow-but-steady process over the years to repair our credit. I would like to go use Rocket Loans to see what our options currently are for a mortgage, but I am reluctant to do a hard pull on my credit at this point until I have more information (read=confidence) as to where we are with our credit.

    1. Hi Hawkser:

      That’s an excellent question, but before I answer it, I want to make sure I clarify something. Rocket Mortgage is a Quicken Loans® product to help people with online mortgage approvals. Rocket Loans is our sister company that does personal loans up to $35,000.

      Now to your question.

      When you use Rocket Mortgage, you’re completing a real application for mortgage financing. That means as part of the preapproval process, we are required to report the pull to the credit bureaus as a hard pull. While it’s true that your score will drop by a small amount temporarily, there are a couple of things you should know about this credit pull:

      • If you’re shopping for a mortgage and having your credit pulled by several different lenders, that’s taken into account in your FICO score. If you apply for loans with several different lenders within 30 days, it all counts as a single credit pull. You only see one dip.
      • If you maintain good credit habits like paying your bills on time and not carrying high balances on credit cards, your credit score should bounce back.

      Knowing what you know now, if you’d like to give Rocket Mortgage a go, you can do so here. I hope this helps!

      Thanks,
      Kevin Graham

    1. Hi Vicki:

      Unfortunately, we don’t do any financing of mobile or manufactured homes at this time.

      Thanks,
      Kevin Graham

    1. Hi Jeff:

      We don’t do loans on raw land. The house has to be completed first. I’m sorry.

      Thanks,
      Kevin Graham

  18. Hello,

    Can you tell me what jumbo 10 or 15% down products you have that may work with a 3+ year short sale with extenuating circumstances?

    Thanks,

    R

    1. Hi Randy:

      Unfortunately, we don’t do jumbo loans until seven years after the short sale has been reported on your credit. I’m sorry.

      Kevin Graham

        1. Hi RP, It depends on a few factors and I want to make sure you are getting the proper answer from a banker licensed in your state. If you contact one of our Home Loan Experts by calling (888) 980-6716, they can give you more information based on your situation. Thanks!

  19. Me and my girlfriend are about to buy a house together. Is there any issue that were not at least engaged before we do a joint application?

  20. My score through Rocket Mortgage was 606, and I was told that I need a 620 score. However, I was never told if I qualify for a FHA loan? How do I find out more information about this option?

    1. Hi Lakisha:

      It’s hard for me to go over this in the comments, because there are many factors that affect your qualification for any particular loan program. That being said, I’m going to have someone reach out to you to take a second look at your options and see if we have any loan programs to match.

      Thanks,
      Kevin Graham

  21. I am trying to get information on what you look for regarding self employed infividuals. I know different lenders require different things. My husband and I both have credit scores over 700. We currently have a 15 yr mortgage on our home (refinanced in 2014) and owe less than 90k (home valued over 215k). We did also take a personal loan to start our new business (70k in Oct 2015 but have paid it down to 58k). Our problem is we are so newly self employed we are using a lot of write offs to reduce our taxable income to zero. However, we have never missed a loan payment! We have been told we need at least 2 years in business and higher income on our taxes after deductions. My husband is a veteran and does receive a VA disability check monthly.

    1. Hi Alli:

      Typically, you have to show some sort of income on your tax returns in order to qualify. That said, we work with many self-employed clients and we can look into your situation in order to go over all of your options and see if we have a match for you. I’m going to recommend you talk to one of our home loan experts by filling out this form or calling (888) 980-6716.

      Thanks,
      Kevin Graham

    1. Hi Alicia:

      We don’t do construction loans, so the home would already have to be built on the land if that makes sense. Hope this helps!

      Thanks,
      Kevin Graham

  22. Hi. I make $40,000 a year and my fiancé $30,000 + (he works on commission). His credit score is 757 according to FICO, and mine 660. I had some issues during my divorce a long time ago, but have been very consistent for awhile now. We live in a school district with high property value. We are looking at a $219,000 home, which is less than what it is worth. We budget well and know we can afford the home, but we do not want to do a hard inquiry on our credit until we feel more confident. Assuming we can talk the owners down to $215,000 and a minimum $10,000 down payment, what would our chances be at getting approved? Thanks!

    1. Hi Jamie:

      It sounds like you have thought this through, so that’s a good start. Based on the credit scores you’re quoting, you would qualify for a conventional loan. However, I can’t really tell you about other factors in blog comments. The best thing for you to do would be to start by going over your options through Rocket Mortgage. You can get a full preapproval online. On the other hand, if you would like to call us, you can reach out to 888-728-4702. Hope this helps!

      Thanks,
      Kevin Graham

  23. I’ve been trying to update my job information using your automated process but have been getting the “Our system is unavailable right now, but you can go back and keep working!” message for the past couple of days. I would enter my information myself but truth be told I have had quite a few short term jobs during slow times within my company and never concidered keeping track of my start/ end dates. will this issue be resolved or could this have something to do with one of my jobs not being documented on your database?

    1. Hi Mark:

      I’m going to get this to our client relations team to help figure out what’s going on here and get you back on track. Thanks for making us aware of your issues.

      Kevin Graham

        1. Hi Steven:

          I’m going to get this over to our Client Relations team and we’re going to get you on track. Thanks for reaching out!

          Kevin Graham

  24. Lenders have told me about the much lower scores than the ones that were given to me

    I got my credit scores directly from the big 3 credit reporting agencies.

    Transunion 600
    Equifax 592
    Experian 581

    Which one do you use?
    Do you apply filters to the scores?

    1. Hi Isaiah:

      Lenders use all different versions of the credit scoring models offered by the big three credit bureaus. While we don’t publicly disclose which ones we use at any given time because they could change, we do pull your credit report from all three bureaus and we use the median score. If you would like to discuss your personal situation further I’m going to recommend filling out this form to talk to one of our Home Loan Experts or calling (888) 728-4702.

      Thanks,
      Kevin Graham

  25. Hi there,

    I’ve been trying to get through step 5 of y’alls process and have stuck on it all day and keep gettting the response:

    “Our system is unavailable right now.”

    I appreciate your help with this process. Thank you!

    1. Hi Lee:

      I’m going to have someone look into this and reach out to you. Sorry for the inconvenience. Thanks for bringing it to our attention.

      Thanks,
      Kevin Graham

    1. Hi Heriberto:

      When you go through Rocket Mortgage, it’s a traditional approval. That means a hard credit pull like it would be if you were shopping for any other mortgage. Your credit score would go down, but only temporarily. Assuming you continue to make payments on time and do the other things you’re supposed to do, your score would go back up to its previous level relatively soon. Hope this helps!

      Thanks,
      Kevin Graham

      1. I tried Rocket Mortgage online. I have a 635 credit score and a $100,000 income and was Denied in 20 seconds!!! So saying you finance to a 580 credit score is Not true!

        1. Hi Paul:

          I’m sorry you’ve had this experience. We do finance with credit scores low as 580. Many factors besides your credit score affect your loan qualification I’m going to have someone reach out to look into your situation and see if we have any other options for you. We’ll be in touch.

          Thanks,
          Kevin Graham

    1. Hi Mauva:

      Your personal information is very secure. We don’t keep any of your sign information on file for anything related to the gathering of income and asset information. When signing in, you’re asked to authorize us to gather this specific information we need to move your mortgage process forward. Any personal information we keep related to the loan itself is treated with the utmost care and respect. Only the people that need to see it will. The mortgage industry is highly regulated and we take your privacy very seriously.

      In terms of how long it took to build it, we had a team of about 450 people working on it for almost five years. You can read more about Rocket Mortgage in this Techcrunch article. If you like what you see and you’re ready to get started, you can do so here.

      Thanks,
      Kevin Graham

      1. Nope, they syre don’t. Glad you posted here instead of calling.. I called to get more information on USDA loans. Told the person that is why I was calling and would look into conventional loans if I had to but needed more information to make a decision, and to sell one or both of our other houses to get a better DTI ratio. He gets my information, and gets to the hard pull of credit moment. I tell him I am about 6 months out to wait for tax returns to prove my self employed income at a higher amount, and need to sell our houses… and that I was in process of paying off a few loans and credit cards that probably wont post.. Therefor I was not sure if we need to run my credit right now. I just needed more information about USDA disqualifications and requirements they dont list on the usda site. He needs to run my credit to move forward and I ASSume it will bounce back by the time I try to get the loan and have more stuff paid off.. Well Then he tells me my current credit score with no recent payoffs posted yet, AND THAT THEY DONT OFFER USDA and has no further information about USDA programs! WTF, REALLY?? that’s the ENTIRE reason I called and would use quicken if I go conventional after how well our last mortgage went.. But not with that guy! like a cheap used car sales tactic but after running my @#%$#@ credit, knowing I was 6 months out and only wanting information about USDA loans at this time.

        1. Hi Ben:

          I’m very sorry to hear you’ve had this experience. We don’t offer USDA loans at this time. I’m going to have someone from our client relations team look into this and see what happened here. Thanks for reaching out!

          Thanks,
          Kevin Graham

    1. Hey Chantelle:

      We would potentially have an option for you a year after discharge or dismissal. You would have an FHA or VA option after two years. Conventional loans become an option again four years after dismissal. If you’d like to talk to someone about your options, you can fill out this form to be contacted by one of our Home Loan Experts or call (888) 728-4702.

  26. I am preparing for a home purchase in the near future, first-time buyer; I would like to know which FICO scoring models does quicken use for conventional home loans!

    1. Hi Alex:

      We use a tri-merged credit report from Trans Union, Equifax and Experian. As a matter of policy, we don’t disclose exactly which models we use.

      Thanks,
      Kevin Graham

  27. Would a person with Limited work history, Extended gap in employment and only able to provide 1 year of Taxes be pre-approved for a loan? If yes, what is the percentage of actually being able to close on a house under those circumstances?

    1. Hi Joe:

      Every situation is different, so it is possible to be preapproved with one year of taxes. I couldn’t give you a percentage because I don’t know that information. I can tell you that in general, the more financial information you provide, the better. However, it doesn’t necessarily mean this isn’t doable. You really need to talk to one of our Home Loan Experts. You can get in touch by filling out this form or calling (888) 728-4702. If nothing else, they’ll be able to give you advice.

      Thanks,
      Kevin Graham

  28. Would I be able to get approved while transitioning out of the military with no set job lined up yet but with a roughly 10-15% down payment saved along with bah from the go bill?

    1. It’s difficult to answer that question in the comments because every situation is different. There are also lots of factors that go into approval. I’m going to recommend you talk to one of our Home Loan Experts. You can do that by filling out this form or calling 888-728-4702.

      Thanks,
      Kevin Graham

    1. Hi Misty:

      We don’t specifically disclose which scoring model we use because they’re constantly being updated and it changes. The minimum credit score for a conventional loan is 620. Hope this helps!

      Thanks,
      Kevin Graham

      1. Hi Kevin,

        I just read your response to Misty today that Rocket uses FICO 8. If so, that is terrific. The problem is that I called Rocket Mortgage today and after being transferred to several different people, no one I spoke with understood the differences between FICO 8 and the older FICO 2, 4 or 5. I’m wondering if you can verify this fact and introduce me to someone at Rocket that can take my application after confirming? Thanks so much for your thoughtful blog. If Rocket is using FICO 8, you guys should advertise that more because it is probably an important fact to many educated consumers.

        Thanks

        Ed

        1. Hi Ed:

          It’s against policy for us to specifically disclose which credit score model we use because they can change and are constantly being updated. That said, I’m going to get this to someone from our client relations team to give you more information.

          Thanks,
          Kevin Graham

  29. Do you offer USDA loans? (The rural housing 100% financing loan- I believe it is the “guaranteed” loan) If not, will you be offering it in the future? Its very similar to the VA loan.

    1. Hi Anna:

      We don’t offer USDA loans at this time. Unfortunately, my lack of psychic abilities prevents me from guessing at the future, but if we do offer USDA loans ever, we’ll be making sure to get the word out.

      Thanks,
      Kevin Graham

  30. I have received my Loan Estimate, Disclosure and Intent Letter. Does this mean that we are approved for the loan? If so, can the Underwriter decide to deny our loan at a later date?

    1. Hi Valencia:

      Your loan estimate is meant to give you a preview of what the terms of your potential loan would be. It doesn’t mean you’re approved. Nothing is ever official until you close. That said, our goal is always to keep you moving forward on the right path to your mortgage. I’m going to have someone reach out about your situation and just provide an update.

      Thanks,
      Kevin Graham

    1. Hi Alex:

      We don’t do home equity loans. On cash-out refinances, the maximum LTV depends on the loan program you go through. If you’re getting a VA loan, you can cash out at 90% LTV. With FHA, the number is 85% if you qualify. Agency loans allow a maximum LTV of 80% to remove equity.

      Thanks,
      Kevin Graham

  31. hi..

    how fast would I get an approval letter? how many questions on Rocket mortgage site/application?

    Also…. does RM automatically qualify/apply me for loans ? I will be a First time buyer….. earned income $4800. per month…credit score 675.

    1. Hi Leyana:

      I can’t tell you exactly how many questions are involved in the process. It depends on your situation. Certain questions lead to follow up questions.

      Everyone goes through the process at their own pace, but it is possible to get a customized fully backed real preapproval in minutes. The basic steps are the same. We get some information about you and your goals. Then you give us some information on your income and assets from your financial services provider. You pull your credit and we come back with loan solutions that match your needs.

      Please don’t hesitate to reach out if you have any other questions. Otherwise, you can get started here or call 888-728-4702 to be connected with one of our Home Loan Experts.

      Thanks,
      Kevin Graham

    1. Hey Steve:

      We can do VA purchase loans and regular refinances. No IRRRLs quite yet. I hope this helps!

      Thanks,
      Kevin Graham

  32. I want to buy a home worth about 60000 but my annual income is only about 14000. I do work a tip based job which adds a significant amount to my earnings and some online freelance writing as well. Also I have only been a United States resident for a year and a half. My credit score at the moment is 677. What are my chances? Thanks

    1. Hi Simon:

      Your credit score sounds like it’s in good shape. In terms of income, we would need to see documentation of the tip-based income in order to use it for qualification purposes. It’s the same for the freelance job. However, there are ways of reporting that income. I’m going to recommend you talk to one of our Home Loan Experts by filling out this form or calling (888) 728-4702.

      Thanks,
      Kevin Graham

  33. From what I have read about Quicken and FHA loans, it appears my credit score is high enough to qualify. Why is it that I wouldn’t get a pre-approval through the Rocket process? I entered information and it said I had to contact a Home Loan Expert.

    1. Hi Kara:

      I’m going to have someone reach out to look into your loan with you. What I can tell you is that there are many things besides your credit score go into your loan qualification. We would be happy to go over what’s happening in your case so we can help you move forward.

      Thanks,
      Kevin Graham

    1. Hey Stephanie:

      The appraisal requirements are a little different depending on the type of loan you’re trying to get. However, I can tell you that typically you could only skip the appraisal on a rate-term streamline refinance. Hope this helps!

      Thanks,
      Kevin Graham

    1. Hi Rich:

      There are too many scenarios to get into here. In short, it depends on the property type and the loan amount. I’m going to recommend you speak to one of our Home Loan Experts. You can get in touch with them by filling out this form or calling 888-728-4702.

      Thanks,
      Kevin Graham

    1. Hi Dennis:

      Rocket Mortgage currently supports married co-applicants. At the beginning of the process, you select that you are married and that you want your spouse on the loan. From there, you’ll be able to enter each applicant’s information individually. If you and the other applicant aren’t married, the best way to get that done is to talk to one of our Home Loan Experts. You can do that by filling out this form or calling (888) 728-4702. We’re constantly adding features to improve your Rocket Mortgage experience.

      Thanks,
      Kevin Graham

    1. Hi Cindy:

      We have limited down payment assistance options, but I’m going to recommend you talk to one of our Home Loan Experts to go over your situation in more detail. You can get in touch with them by filling out this form or calling (888) 728-4702.

      Thanks,
      Kevin Graham

    1. Hi Laura:

      We don’t currently offer HELOC options, but I recommend talking to one of our Home Loan Experts anyway. You may find that a cash-out refinance is the way to go. You would pay a lower interest rate than you would on a HELOC because it’s your primary mortgage as opposed to a second mortgage. In order to get in touch, you can fill out this form or call (888) 728-4702. Hope this helps!

      Thanks,
      Kevin Graham

  34. I started entering information but I need to start over and put my husband’s work information first as I’m self employed. How do I start over?

    1. Hi Stacy:

      In a joint application, I don’t think it matters whose information gets put down first, but I’m going to pass this along to our Client Relations team and they should be able to help you out with anything you need. Look for an email.

      Thanks,
      Kevin Graham

    1. Hi R:

      We do do some work with grants, but they often require special documentation. It’s probably best for you to talk to a banker about your situation. You can do that by filling out this form or calling 888-728-4702.

      Thanks,
      Kevin Graham

  35. I recently filed bankruptcy in Decemeber of 2015 and was discharged on 2016 of January. Would I be able to qualify for a home mortgage loan?

    1. That depends on the type of bankruptcy that was filed. It would probably be best for you to speak with one of our Home Loan Experts to go over your situation in more detail by filling out this form or calling 888-728-4702.

      Thanks,
      Kevin Graham

    1. Hi Gary:

      When you apply through Rocket Mortgage, you’re officially applying for mortgage financing. We have to report that to the credit bureaus as a hard pull which does affect your credit score, at least a little bit. It should go back up fairly quickly assuming you continue to maintain positive credit habits in other areas. Thanks for asking!

      Kevin Graham

      1. Using Rocket Mortgage, do you report the hard pull in step 2 (“explore your options”), or step 3 (“get approved online”)?

  36. I want to buy a home that is approximately $219,000. I have about 10 percent to put down. I also have EXCELLENT credit score (at the top) but my only income is Social Security Disability. Can I get some type of mortgage for the remainder or does that seem unlikely?
    Thanks,
    Greg

    1. Hi Greg:

      You can definitely use that income. I suspect the issue that you might run into is that the preapproval might end up on the low-end depending on how much you received from SSD. However, nothing prevents you from running the numbers through Rocket Mortgage and checking it out or giving us a call at 888-728-4702 to discuss this.

      Thanks,
      Kevin Graham

    1. Hi Joey:

      If your credit score was 599, you would be able to qualify for FHA. I see you’re trying to work with us, and I’m going to have someone reach out.

      Thanks,
      Kevin Graham

  37. Rocket Mortgage is an excellent way to get a mortgage online!

    However, some people have an existing second mortgage (e.g. HELOC or Home Equity Loan) in addition to their first mortgage, and Rocket Mortgage doesn’t even ask if the applicant has an existing second mortgage to pay off with their refinance, so that means that they would have to start the process the pre-Rocket Mortgage way (Call, Chat and E-Mail). So, Rocket Mortgage is unsuitable for people with second mortgages, and I would suggest that including a second mortgage in a refinance transaction be included in Rocket Mortgage.

  38. What are the options for $0 closing cost mortgage for a joint application? Both applicants have FICOs around 770, and will likely put about 5% down on a house?

    1. Hi Nathan:

      It’s difficult to give you a good answer in the comments because there are many factors in a mortgage qualification. However, I can tell you that if you go through Rocket Mortgage we can give you a mortgage solution that you can customize to meet your goals. If, on the other hand, you’d like to get started on the phone you can call (888) 728-4702.

      Thanks,
      Kevin Graham

  39. I know that closing times and durations vary from loan to loan, but what is the average time from application and approval to closing?
    My home is paid off, no current mortgage, and I’d like to do a cash out refi dependending on how long those generally take.

  40. I went through a divorce two years ago and my credit took a BIG hit. My current score is 635 and if I pay my current credit cards down at least $400 my score SHOULD jump to 645. Will I be able to qualify for a $40K loan with $3600 monthly income? I don’t want to apply unless I know for sure because the inquiry will hurt my score.

    1. Hi Mitch:

      I really think the best thing to do in your situation would be to talk to one of our Home Loan Experts. You can connect with one here or by calling (888) 728-4702. They’ll be able to look into the details of your situation.

      Thanks,
      Kevin Graham

  41. Hello, I am interested in buying the adjoining lot to my property . I would like to build a tiny house there, for an Airbnb buisness and other guests that I have. I estimate the total cost of this to be 20K for the lot and 30K for the house , does Quicken offer a loan for this scenario, it would not be my primary home but next door. I already have my current mortgage with quicken. Thanks – Spencer

    1. Hi Spencer:

      Thanks for thinking about us again! Unfortunately, we only do loans on houses that are already built and don’t do anything with vacant land. I’m sorry.

      Thanks,
      Kevin Graham

  42. I own my current home with no mortgage. (140,000 est) I have never missed a payment on any of my bills and my credit falls into your guidelines. I do however have a tax lien from when I was married. I was unaware until after my credit was affected. I don’t want to pay it off as my ex is responsible as well. I’m the only one who has been making payments. Will this keep me from being able to refinance my home?

    1. Hi Jennifer:

      In this case, it often depends on the lien and the type of loan you’re applying for. I’m going to recommend you talk to one of our Home Loan Experts by filling out this form or calling 888-728-4702.

      Thanks,
      Kevin Graham

    1. Hi Scott:

      There’s no specific minimum loan amount that we have. It’s on a case-by-case basis. One thing to keep in mind though is that we only do co-op loans in New York State and only in areas where co-ops are common.

      Thanks,
      Kevin Graham

    1. Hi Tom:

      I understand the desire to avoid PMI. At this time, we don’t offer second mortgages to deal with that, but we do have an excellent lender-paid mortgage insurance program (LPMI) in PMI Advantage. If you would like to look into your options, you can get started online with Rocket Mortgage. I hope this helps!

      Thanks,
      Kevin Graham

  43. We’re trying to do a joint pre approval online, but can’t seem to figure out how to do it jointly. We’re not yet married. Is our only option to say that we are, so we can add the second person’s info? Thanks!

    1. Hi Sarah:

      At this time Rocket Mortgage doesn’t support the option to have a non-spouse co-client. However, I can have one of our bankers reach out and help you get started so that you can still complete the majority of the process online if you prefer. To get started, you can fill out this form or call 888-728-4702.

  44. How are appraisals scheduled and conducted? What is the cost? My home is in MN, and I am considering refinancing. Does credit score affect the loan to value ratio used to determine the maximum loan amount? During the loan selection process, are the differing closing cost scenarios estimated and presented?

    Thanks, Julie

    1. Hi Julie:

      We work with Title Source which schedules your appraisal with an independent third-party appraiser. Your appraisal is covered by the cost of your deposit which varies but is somewhere between $400-$750 depending on the loan circumstances. The closing cost scenarios are estimated and presented when you run through the process of Rocket Mortgage. Hope this helps!

      Thanks,
      Kevin Graham

  45. Just curious as to how the appraisal process works? We are looking to refinance our current home which is under a land/home contract with individual. I’m assuming our house used to be a single wide trailer. The only thing left of the trailer is the frame which is under the house. Inside is completely remodeled as well as outside. No visuals of it being a trailer. Do you have any type of loans for that?
    Thanks.

    1. Hi Christina:

      Your home may still be considered a manufactured home in this case and we don’t do loans for those. If you want, one of our licensed mortgage bankers can big deeper into your situation and determine whether you might be able to get a loan from us if you fill out this form. If we can’t work with you, you may have better luck with a local lender.

      Thanks,
      Kevin Graham

  46. I own a small duplex in a small town and am interested in refinancing it but property values are not high. It would likely appraise for $50,000 or less. Is there a minimum amount for your loans?

    1. Hi Kevin:

      There is a minimum, but $50,000 wouldn’t be a problem. Go ahead and check out Rocket Mortgage and you can look into your options. If you like to get started over the phone instead, you can call 800-251-9080.

      Thanks,
      Kevin Graham

  47. Hello. My wife and I are looking at possibly refinancing our mortgage and I have a couple questions. I filed chapter 13 bankruptcy just over 5 years ago and I successfully completed the repayment plan a few months ago. My wife was not included in the bankruptcy. We owe about $100,000 on our first mortgage and $21,000 on a second. We are looking to lower our rate and possibly pay off some credit card debt. My fico score is currently around 630 in experian and much higher on the other two bureaus. My wife’s credit score is around 675. The value of our home is around $190000. Our combined income is around $155000. Any ideas if we would qualify for a convential mortgage? Thanks much!

    1. Hi Terry:

      You may not have an option to include your income on the mortgage because you just came out of the repayment plan a few months ago. However, you can try to have your wife qualify alone based on her income alone. I’m going to have someone reach out to you to go over all of your options.

      Thanks,
      Kevin Graham

    1. Hi Sue:

      That depends on the type of loan you’re trying to get. For FHA, the minimum score is 580, while we require a 620 for conventional and VA loans. Please don’t hesitate to reach out if you have any other questions.

      Thanks,
      Kevin Graham

  48. We have always rented but are looking at buying a home. Our credit score is almost 620 but falls a little short. My husband is a veteran and has not used his VA loan, one company said we couldn’t get a mortgage with our current credit score. Is there any options for us?

    1. Hi Lisa:

      For us, to use a VA loan you have to have a credit score of 620. However, depending on how close the score is, we may be able to give you some options and ideas to get that score up. I’m going to have someone reach out to you.

      Thanks,
      Kevin Graham

    1. Hi Emily:

      Unfortunately, Quicken Loans® doesn’t finance USDA loans. I wish you luck.

      Thanks,
      Kevin Graham

  49. I recently took an all commissions job, so it obviously has its ups and downs. My income at my previous job wasn’t great either, but I took maximum deductions and made it look like I made way less. How will that factor into our approval?
    We’re looking to get into a house at around $300,000 and can put down at least 20%, will that help?
    Also, if I go through the online process, does that show up as a credit inquiry on my credit report?
    Thank you

    1. Hi Patrick:

      I’ll take the last question first. If you pull your credit through Rocket Mortgage, it does count as a hard inquiry.

      As for the approval piece, every situation is different, but I’m going to have someone reach out to you to look into your options.

      Thanks,
      Kevin Graham

  50. I have a FHA mortgage. Now my ex-wife and I are devorce and I need to refinance to remove her from the mortgage I have a 598 score can I qualify for a refinance with that score.

    1. Hi Jesse:

      Assuming you’re right about your credit score, you might be able to do an FHA streamline. I’m going to have someone reach out to you regarding all your possible options.

      Thanks,
      Kevin Graham

    1. Hi Carol:

      As to the timing of the loan process, it depends upon the individual loan and its characteristics much of the time. There are ways to reduce or eliminate closing costs. I’m going to have someone reach out to you about your options.

      Thanks,
      Kevin Graham

  51. My question is about applying for a mortgage. I am currently buying a home on contract in the fourth year of a fifteen year agreement. Do I apply for FHA or conventional and is it considered a re-finance? Does quicken finance closing cost? Thanks.

    1. Hi Patrick:

      I’m not sure how the whole contract portion of this works. I’m going to have a Home Loan Expert reach out to help you with this. I can tell you that it is an option to take lender credits to finance closing cost.

      Thanks,
      Kevin Graham

  52. If you’re self employed and cannot provide W-2, what would be the process at that point? Is it possible to still use Rocket Mortgage?

    1. Hi Jaime:

      I’m going to have someone reach out to you about this. I’m not sure where the system stands on accepting documents from the self-employed, but you may be able to use it for other parts of the process regardless.

      Thanks,
      Kevin Graham

  53. We had to file chapt 7 bankruptcy in 12/2012 which included the surrender of our home. My husband’s credit is decent and he makes a 6-figure salary now. It’s difficult for us to obtain another mortgage loan though and we keep getting conflicting information regarding waiting periods. Can someone help us figure out if we qualify for a loan at present or if we need to wait a few more years? Thanks.

    1. Hi Lucy:

      It’s not about when you filed bankruptcy, but instead about how long it’s been discharged. I’m going to have someone reach out to get more information and be able to answer your question.

      Thanks,
      Kevin Graham

  54. Given there are various FICO and Vantage credit scores, can you advise which one your company pulls and uses from each bureau?

    1. Hi Drake:

      We pull FICO scores from Experian, Equifax and TransUnion. I’m not sure which version of the scoring we use, but I’m going to get this to someone who can hopefully help with that question.

      Thanks,
      Kevin Graham

  55. Mine and my wives middle credit score is around 610 and were looking to buy a house. We are not approved for a conventional loan and have an FHA loan on our current house when we refinanced. Would we be able to get a mortgage with our credit score below 620.

    1. Hi Andrew:

      With that credit score, you qualify for an FHA loan right now. If you can get it up to 620, you would also qualify for a conventional loan. I’m going to have someone reach out and help you look into this.

      Thanks,
      Kevin Graham

  56. I am looking to buy a house from a family member for their remaining mortgage balance. The mortgage amount is about 280k the house appraises for about 350k would i still need a down payment ?

    1. Hi T:

      One of the things you can do is have your family member give you the gift of their equity and you won’t have to come up with a down payment. I’m going to have someone reach out to you about this.

      Thanks,
      Kevin Graham

  57. Ive being stuck on step 5 of the application process, for 2 days. (Rocket Mortgage) shows this.(when i push search income button.)
    “Our system is unavailable right now.”

    1. Hi Jason:

      I’m going to pass this along to the team so we can look into the problem you are experiencing as well as helping you move forward. Sorry about this. We’ll be resolving this as soon as possible.

      Thanks,
      Kevin Graham

    2. I too have been stuck on step 5. I get all the data imported and when I try to save and continue, it just keeps reloading the same page and never advances to the next step…

      1. Hi Shelby:

        Sorry to hear about this. I’m going to forward this to our Rocket Mortgage team to see if we can figure out what’s going on and also hook you up with someone from our client relations team to help you move forward.

        Thanks,
        Kevin Graham

  58. I am losing my house because is underwater , can my wife apply for a mortgage using my income because she doesnt work ? Her score is 700-715 . I make about 60 to 70 k yearly. and we both went bankrupt 7 over 2 years ago. Thanks Dan

    1. Hi Dany:

      Your wife cannot apply alone based on her credit and your income. That doesn’t work. That said, I’m going to have someone reach out to you to look into your situation and give advice.

      Thanks,
      Kevin Graham

    1. Hi Jessica:

      Rocket Mortgage follows the credit score guidelines for the loan product you’re looking at. For FHA, the minimum score is 580. For conventional and VA loans, the minimum score is 620. I’m going to have someone reach out to you in case you’re interested in going over your options.

      Thanks,
      Kevin Graham

  59. I have a FHA loan. I have been left in sort of a bind with a car loan that was co signed with a boyfriend that is now gone. I had checked a few years ago about refinance but my income was not enough to payoff what I wanted to combine. I was told he could be added to my deed and his income could be used to do a loan.

    My question is, I want to add my brother and my mother to my house deed and want to know if it would be possible to do a loan with our 3 incomes. My credit score is of course low but they both have scores in the 700’s. Would it be based on their scores or what to choose the loan. I would prefer not to have FHA with the PMI. I owe $75,000 and value is $152,000 and I want to pay off and combine in the amount of $115,000.

    1. Hi Michelle:

      I’m going to have someone reach out and help you look into your options. They’ll be in contact. Have a good day!

      Thanks,
      Kevin Graham

    1. Hi David:

      Rocket Mortgage follows the standard guidelines for whatever type of loan you’re trying to get. You can only get zero down with a VA loan. However, we do have various low down options. I’m going to have someone reach out.

      Thanks,
      Kevin Graham

    1. Hi Tina:

      The answer to that depends on the type of loan you have. I’m going to have someone reach out to look into your situation and give you a definitive answer.

      Thanks,
      Kevin Graham

  60. I am trying to buy a home for 132900. And my credit is stopping me at my bank for a rural loan. I do not have funds for sufficient down payment for bank loan. Help!

  61. I’ve been in my home close to 10 years and I looked into a refi after a divorce and my mortgage co, had a hard time with my income /payout options and didn’t work b/c of the alimony ! I then went through another company that promised me the ” world ” so I got the aprasil etc.. And after a ten minute aprasil .. It came back 40% below what I paid! I was told my loan was not owned by Freddie or harp therefore , I’m out the $500 and no refi! I feel insulted !! What are the new guidelines which I hear about? Any options to make a smaller monthly payout… Thx

    1. Hey Scott:

      I definitely understand your frustration. I don’t know if there’s anything we can do, but we can definitely help you look into your options. Someone will be reaching out.

      Thanks,
      Kevin Graham

  62. Can I do a No income verification loan with this to buy a 2nd home out of state.
    I have been self employed for almost 15 years with tax history. How ever like most self employed families what my income shows after deductions isn’t really accurate.
    My credit score range is around 725.
    Thank you

    1. Hi Marlena:

      We don’t do no-income verification loans, but as you allude to, every situation is different. I would encourage you to talk to one of our Home Loan Experts. If we can help you with your loan, great. If not, at least you know where you stand. I’m going to have someone reach out.

      Thanks,
      Kevin Graham

    1. Hi Mindy:

      Unfortunately, we don’t do manufactured home loans at this time. Thanks for reaching out!

      Kevin Graham

  63. Hi,

    So, I have an interesting situation. My wife and I already own a home that we bought about 3 years ago. We are looking to buy a second home, but we’ve had some difficulty. I am a doctoral student, and I have a lot of student loan debt. When we purchased our first home 3 years ago, the bank allowed me to submit an estimate of what my student loan payments will be once I go into repayment. However, when we went back to the bank to inquire about another mortgage, they estimated my repayment at much higher than my lender, then told me my DTI was too high (by about 2% or so), and denied us. The underwriter told me we would need to sell our current house first.

    I recently took a new job, however, and make a good $14,000/year more. This puts our gross monthly income somewhere around $6500. Our monthly debt, with my estimated student loan payments, is around $2000. This puts our DTI below 36%. However, I am not in repayment because I am a half-time student, so I’m only including an estimate. Is this going to be a problem for us? Do I need to actually be in repayment to be approved, or can you accept an estimated repayment amount for the student loans?

    Thanks,
    Reese

    1. Hi Reese:

      How your student loans are factored into your DTI is really dependent on the type of loan you’re applying for. I’m going to get this to a Home Loan Expert to look into your situation further and give you a more definitive answer.

      Thanks,
      Kevin Graham

  64. Xin Chào.Chúng tôi không biết English .Xin hỏi :
    Chúng tôi có nhận một cái thơ quảng cáo của Quicken Loans® gởi cho gia đình chúng tôi *** ****** ****************************.
    Vậy nếu công ty các bạn có người nói tiếng VIET NAM xin gọi cho tôi: Quan ********* hoặc Email ******************.Thank You

    1. Hi Quan:

      We do have a translation service we use for clients who speak different languages. We can call you and speak through a Vietnamese interpreter in order to look into your situation and see how we can help you. Thanks for reaching out!

      Kevin Graham

  65. I was young when the space age took off. I love the radio commercials for Rocket Mortgages that mimic Mission Control and astronauts. Where can I access the audio of these commercials to post links to on my Facebook timeline? It would actually be an inadvertent form of advertising for you. BTW, I don’t want a mortgage. I just think the radio commercials are cool, especially the “I’m listening” one.

    1. Hi Bob:

      I’m glad to hear you like the commercials. There’s definitely something that’s just inherently cool about astronauts and space. I’m not sure if we have any public versions of the audio online, but if we don’t it’s definitely a good idea. I’m going to pass this along to our team.

      Thanks,
      Kevin Graham

  66. Hi. We are looking to refinance our Conventional mortgage to get rid of the PMI. We owe $330,000 and just want to know what the ball park closing costs will be.

    1. Hi Kerri:

      It’s impossible to tell you what the cost would be without knowing more information because every situation is different. I’m going to have someone reach out to discuss the specifics of your personal financial profile and recommend the best option for you.

      Thanks,
      Kevin Graham

  67. We would like to know what your minimum credit score would be to do your rocket mortgage would be? My middle score is 609 and my Husbands is 616. WE WERE told that our loan goes through desktop underwriting at 425 or 430 and we owe 349 or we want to buy a new home BUT we would prefer to refi through harp or conventional whatever you suggest please respond and tell us what to do. Please email us asap and let me know you are from rocket WE NEED TO GET RID OF PMI

    1. Hi Scott and Debbie:

      First, I do want to make a note that we’ve seen each of your comments. In order to speed up loading times, they don’t show up on the site for 24 hours.

      Rocket Mortgage follows the guidelines of the loans we provide in terms of minimum credit score. Based on the scenarios you’re providing, you qualify for an FHA loan right now and that doesn’t help you get rid of mortgage insurance. However, you’re close to qualifying for a conventional loan. The minimum credit score there is 620. I’m going to have someone reach out to you to provide advice.

      Thanks,
      Kevin Graham

  68. After a home loan has been approved, what information is required? Since this process is online how does the process work for you to obtain that additional information?

    1. Hi Brenda:

      With Rocket Mortgage, most if not all of the information needed for the approval is collected upfront by importing your information from one of our trusted partners. If we need any more information later on, it can all be uploaded online. It’s difficult to say what information we might need after the approval because every loan is different. I’m going to have someone reach out to give you more information and help you get started.

      Thanks,
      Kevin Graham

  69. Hi there,

    Can you tell me which FICO Model you use when determining a score? I know there are quite a few different out there, Version 8 being the most recent.

    Thank you!

    1. Hi Anthony:

      I don’t know the answer to that question, but I’m going to get you to someone who might be able to give you more information. I can tell you that we pull from each of the three major credit bureaus.

      Thanks,
      Kevin Graham

  70. I would be considered a first time home buyer. I am not familiar with the ins and out of home buying and feel as though its best if someone walks me through the process to get approved. However, this new approach seem much faster and could save a lot of time. Would you all recommend this option for someone like me?

    1. Hi Natalie:

      Rocket Mortgage certainly makes things a lot more streamlined in terms of providing your information. I’m going to have a Home Loan Expert reach out to give you more details so you can determine whether it’s right for you.

      Thanks,
      Kevin Graham

  71. Hi, In 2010 my husband’s company went under and he filed for bankruptcy. The house was included in the bankruptcy. We moved across the country. My husband has been in his job for over 2 years and we are wondering if we can buy again. However, the bank has a lien (still) on the house and wants us to do a trial period of payments to get us back into that house before they decide to foreclose. We really don’t wish to move back as it’s been 6 years. Can we even get a loan at this time (credit score is 650) or do we have to wait 3 years after the foreclosure?

    1. Hi Christina:

      Usually, the lien has to be cleared up, but given that you’re no longer in the house, I’m going to forward this to someone and see if you have any options.

      Thanks,
      Kevin Graham

  72. Hello!
    My husband and I are thinking about refinancing our current mortgage. We would like to pay off our credit cards and do some home improvements. We short sold our home a little over 3yrs ago (due to a job change). Are there limits to the amount we can pull out of our home? We currently owe $375,000 and our house is worth around $625,000
    Thank you!
    Jen

    1. Hi Jennifer:

      The only limits are determined by the actual loan product itself. For example, if you have a conventional loan, you might have to leave 5% equity in the house, etc. I’m going to have someone reach out to help you go over your possible loan options.

      Thanks,
      Kevin

    1. Hi Robert:

      Unfortunately, refinancing investment property is unsupported by Rocket Mortgage at this time. We would be happy to have a Home Loan Expert reach out and help you look into your options. Someone will be in contact.

      Thanks,
      Kevin Graham

  73. Does a recent gap in employment disqualify me for getting a quicken loans mortgage? Or is there still a possibility? All other factors are good.
    -Alex

    1. Hi Alex:

      While the gap in employment certainly has the potential to complicate things, every situation is different. I’m going to have someone reach out to look closer at your personal financial profile.

      Thanks,
      Kevin Graham

  74. Think thinking of buying a condo with my longtime boyfriend while I have worked at the same company for three years my boyfriend recently left his full time job to change careers and work at a temp agency in hopes of being made full time for the company in which he is assigned. The company he is assigned to regularly used temps in their warehouse and assignment is ongoing all year, so it’s steady temp work. He is a W 2 employee thru the temp agency not 1099. So my question… Can temp work be used to obtain a mortgage ( looking at an FHA) and if so how long would he half to work for the agency before it could be considered ?

    Also as a side question; in general are the closing costs the same for a house as they are a condo? Just wondering if I should factor in all the same fees when determining expected closing costs.

    1. Hi Annie:

      While changing career fields can have an effect, it definitely depends on each individual situation. I’m going to have a Home Loan Expert reach out and look into things with you. In terms of the closing costs, that’s also going to depend on the loan. I can tell you that the houses and condos can have similar fees. There are condo associations as well as neighborhood associations.

      Thanks,
      Kevin

  75. My husband and I are self employed and wanting to purchase a house within the next few months. We have worked pretty hard at recovering our credit over the last couple of years. My concern is I have heard that we must have 2-3 years of taxes with being self employed but only started our business in the beginning of 2015. He can qualify for a VA loan and we can both qualify for First Time Homebuyers. We have currently been renting our home for 4 years now with no issues paying rent and are current on all other bills. Is it possible to purchase being newer self-employed or must we wait a few more years?

    1. Hi Shawna:

      It may not be realistic to expect to qualify for a mortgage in the next couple months based on that income, but there’s no hard and fast rule for how long you have to wait. It really depends on the situation and the type of loan you’re trying to apply for. I can tell you that for a VA loan, we need two years of business and personal tax returns. I’m going to get you to a Home Loan Expert to provide more information.

      Thanks,
      Kevin Graham

  76. I went through the whole Rocket Mortgage process last night and was confused by the results. My husband and I both have FICO scores in the 700s – mine in the upper end and his in the teens. We both have steady jobs (I’ve been with the same company for 12 years, he’s been part-time at his job for 8 years but actively looking for full time which is hard because he doesn’t drive), we pay our $1500 rent on time every month along with car lease, insurance, and other bills, but have no assets. We will be getting gift money from family for down payment and have been hoping to find a house between $100,000 and $120,000.
    We had been looking into the FHA and conventional 97 loan options before we decided to try Rocket Mortgage, and I see you’ve said you can get an FHA through RM, but didn’t see anywhere for us to say that’s what we wanted. This would be the first time for us buying a home and we just wanted to see what we would qualify for before reaching out to a realtor to begin looking at homes. RM said we only qualified for like $29,000 which doesn’t make sense to me at all.

    1. Hi Sarah:

      We can have someone look into your situation and see about your qualifications for a different loan amount. I can tell you that a lot of things factor into the mortgage qualification process including your debt-to-income ratio and credit. While you can get an FHA mortgage through Rocket Mortgage, it tries to recommend the best loan options for each individual. It sounds like with your credit scores, a conventional loan could very well be the best option because mortgage insurance comes off at your request once you reach 20% equity. This doesn’t happen on an FHA purchase with a minimum down payment right now. I’m going to have someone reach out to go over your options and look further into your financial profile.

      Thanks,
      Kevin Graham

  77. What are the current rates for a 30yr. fixed/VA? I qualify to not pay any VA fees so what would I be looking at out-of-pocket? I am getting mailers everyday saying “no cost” refi’s…

    1. Hi Stephen:

      You can use this page to get a general idea of current rates, but your personal rate is very dependent on your credit and financial profile. How much you would pay out of pocket also depends on the loan. I’m going to have a Home Loan Expert reach out to you in case you’re interested in moving forward.

      Thanks,
      Kevin Graham

  78. I have 2 valuable properties in Brooklyn, NY with 2 different lenders. I want to be able to use some of the equity in either of the properties to renovate and repair my primary home which also has a rental apartment in it.
    Both properties were modified 3-4 years ago. Since then I’ve made my regularly scheduled payments and my credit score is very good, however there are a few marks on my credit score from the modification period. Could I be a candidate for a refi with cash out under these circumstances?

    1. Hey Steph:

      You may be able to take cash out. Depending on the type of loan you’re trying to get, you have to meet certain conditions. I’m going to have a Home Loan Expert reach out to gather more information and go over your options.

      Thanks,
      Kevin Graham

  79. We are wanting to purchase a house for $280,000. It should appraise around $305,000. Our plan is to put 20% down and have a conventional home loan. Because it should appraise out to $305,000, is there any way to borrow more than the purchase price for some renovations and updates…say around $20,000. We are trying to avoid less down and paying PMI. Thank you!

    1. Hi Kim:

      Unfortunately, it’s not possible to borrow more than the purchase price, but there may be ways you can avoid paying monthly PMI even at a lower down payment so you have more money for renovation. I’m going to put you in touch with a Home Loan Expert who can go over your options.

      Thanks,
      Kevin Graham

  80. Hi! I am trying to figure out what your minimum credit score for an FHA loan is. I’ve seen it advertised as 580, but I also read an article that came out after criticism of the Rocket Mortgage Super Bowl commercial. In the article, one of your execs said that you don’t do “subprime” lending (i.e., mortgages for people with scores below 620). So, which one is right? Can you get a mortgage with a credit score of 580? Also, what if you have collections on your credit report? Thanks for your help!

    1. Hi R.W.:

      Subprime is any mortgage with a credit score below 580. You can get an FHA loan with us down to that score. Thanks for reaching out! I’m going to hook you up with a Home Loan Expert to see about the collections you have. Every situation is different.

      Thanks,
      Kevin Graham

  81. I already have been pre approved through a lender. Is there anything keeping me from shopping around? I would like to see what larger comapnies such as quicken, can offer compared to the smaller lender I have been dealing with. Thanks in advance.

    1. Hi Lonnie:

      To answer your question, there’s nothing that prevents you from shopping around and getting a preapproval from several different lenders. In terms of what makes us different from your local lender, we’ve been ranked highest in customer satisfaction for primary mortgage origination by J.D. Power for six consecutive years and we’ve also ranked highest in customer satisfaction for primary mortgage servicing for the last two years. This means we’ll be able to take good care of you throughout the process. In addition, we’re your lender for life. If there’s something we can do to get you into a better rate down the line, we’ll tell you. Our technology also makes it super easy to import your documents and get approved quickly.

      I’m going to pass this along to a Home Loan Expert to reach out to you and see if you want to move forward with a preapproval.

      Thanks,
      Kevin Graham

    1. Hi Lee:

      While we do loans for second homes, we don’t do loans for houseboats. Thanks for reaching out.

      Kevin Graham

    1. Hey Victor:

      The soonest you can get a loan is three years after the foreclosure through FHA or VA. I hope this helps.

      Thanks,
      Kevin Graham

    1. Hi Jason:

      Unfortunately, you cannot get a loan on the basis of the signed offer letter alone. Lenders require documentation like pay stubs and tax returns. That said, you may be able to get a loan if the income is expected to continue in the future. I’m going to hook you up with a Home Loan Expert to give you more information.

      Thanks,
      Kevin Graham

    1. Hi Anthony:

      At this time, Rocket Mortgage does not support multi-unit investment properties. Specific loan types have different documentation and eligibility requirements that must be built into the system. We think of Rocket Mortgage as being a bit like a software product in that new features are added over time. I’ll pass your feedback along. In the meantime, one of our Home Loan Experts can help you get started if you want. I’m going to have one of them reach out today.

      Thanks,
      Kevin Graham

  82. If I go through the Rocket Mortgage process and am approved, am I then committed to getting my loan through you, or do I have the option to go with someone else if I find a better rate?

    1. Hey Rachel:

      While we certainly would prefer you go with us, there’s nothing about Rocket Mortgage that prevents you from shopping around. I will tell you J.D. Power has ranked Quicken Loans® highest in customer satisfaction for primary mortgage origination for the last six consecutive years and highest in satisfaction for primary mortgage servicing for the last two years. Visit JDPower.com for more information. In addition, 95% of our clients would recommend us based upon a Quicken Loans® market research questionnaire of clients whose loans closed between 9/1/2015 and 12/31/2015. One of our guiding philosophies is “every client, every time.” We would love to have your business.

      Thanks,
      Kevin Graham

    1. Hi Bobby:

      The application fee and loan costs depend on the individual loan in a lot of cases. I’m going to have a Home Loan Expert reach out to give you more information.

      Thanks,
      Kevin Graham

  83. I’m interested in refinancing my mortgage. My husband passed away very suddenly 2 weeks ago and I need to make my payments more affordable based on my income only. A few years ago we were basically scammed into an “interest only loan” and our payments have been going only to the interest of the loan and not to the balance. The balance of the loan is $309,000.00 and the interest rate is 7.5%. I am sure that the value of the home now is not comparable to the balance. I can afford the payments on my income only long as I can lower them. Based on the fact that the balance is more than I think the home is worth is it even possible to refinance?

    1. Hi Donna:

      I’m very sorry to hear about your husband. I’m going to pass your comment on to one of our Home Loan Experts and we can look into your options.

      Thanks,
      Kevin Graham

    1. Hi Waldemar:

      Closing costs vary from loan to loan. One thing specific to VA loans is the funding fee. You can expect to pay that. Other possible loan costs paid for at the closing table are origination fees, title insurance, prepaid interest points, and so on. That said, there are ways you can keep the closing costs down. I’m going to hook you up with a Home Loan Expert who can reach out and talk more about your personal situation.

      Thanks,
      Kevin Graham

  84. We own our home. The value is between $275,000 – $300,00 (at least)
    We have a line of credit at a local bank for approximately $90,000. We recently ask for a line of credit increase to $125,000 so we could pay off maxed credit cards ($20,000) and have a little buffer. This leaves us with $0.00 obligation except the line of credit. The Bank denied the request for the following:
    (a) as our credit score was only 659
    (b) and proportion to balance on limit of the credit cards.
    This seems “unfair” to me as our payments have always been timely to the bank, paying off the credit cards will make the credit score increase, and we have way than enough equity in our home to account for the $125,000. Any suggestions as to how you all could assist us?

    1. Hey Pat:

      We don’t do home equity lines of credit, but you might be able to do a cash-out refinance to pay off some of that credit card debt. I’m going to have someone reach out to you.

      Thanks,
      Kevin

  85. Rocket mortgage was the biggest waste of time ever. I filled out all of the information on all of the forms and then had to “chat” and provide all of the exact same info over again. I was approved last april but not for the amount I wanted so I was told to work on my credit . It’s higher now than it was then and now I’m not approved at all. Rocket mortgage could have just shown me that instead of making me go through the “chat” process. I will never use quicken again and I will make sure no one I know does either. What a joke.

    1. Hey Jeremy:

      I’m sorry to hear you feel this way. We’re actively researching your situation. Someone will be reaching out.

      Thanks,
      Kevin Graham

  86. My wife and I are retired. We are considering a home costing $300K and putting down $100K. What documentation would be required? Our Fico scores hover at 800. Could we obtain an FHA loan? As this house is new how does the appraisal process work?

    1. Hi Mike:

      That’s several questions so I’m going to take them one at a time. The documentation required really depends upon the situation. We require information like bank statements, tax returns and income and asset information from you. If your credit scores are where you say they are, you could definitely qualify for an FHA loan. However, with the amount of money you want to put down and your credit scores being at around 800, you might also take a look at a conventional loan in order to avoid paying mortgage insurance. An appraisal on a new house may be a bit different, so I’m going to connect you with a Home Loan Expert. They’ll be able to answer those questions and talk to you about your potential loan options.

      Thanks,
      Kevin Graham

  87. I’am currently in the process of remodeling my home. I bought it just over two years ago on a 30 yr fixed
    conventional mortgage. It’s a older home with some updates completed. Would Rocket Mortgage work for me ?

    1. Hey David:

      You can absolutely do a conventional cash-out refinance. I’m going to have a Home Loan Expert reach out in case you have any questions.

      Thanks,
      Kevin Graham

  88. I was looking through this website and I want to ask a few questions.
    Would it be possible to receive a mortgage loan for a home with credit scores between 519 and 620? The loan is for about 185,000 dollars.
    If I did receive the loan would the payments each month be low? Like at most 1000 dollars a month.
    Would age be a factor? I’m currently 23 and I want to purchase a home with my grandparents.
    Would it be possible to receive a loan without putting down a down payment on the home?

    1. Hi Kiana:

      I’m going to try to take these questions one at a time and then pass this along to Home Loan Expert so you can get more information. We take the average of you credit scores from each of the three credit bureaus – Equifax, Experian and TransUnion. We do that for each borrower. You have to have an average credit score of at least 580. The monthly payment depends upon the loan amount and the rate you get as well as taxes and insurance. It’s difficult to answer those questions without knowing more about your personal financial profile. The only zero down loans that are available are from the VA for veterans, active-duty military and their surviving spouses. I’m going to have a Home Loan Expert reach out to you to get more information and be able to answer your questions more thoroughly.

      Thanks,
      Kevin

    1. Hey Dave:

      It depends on what type of loan you’re getting. I’m going to have a Home Loan Expert reach out to with more information.

      Thanks,
      Kevin Graham

    1. Hi Robert:

      You can absolutely get an FHA loan through Rocket Mortgage. I’m going to have a Home Loan Expert reach out to you with more information. Have a great day!

      Thanks,
      Kevin Graham

  89. What is the appraisal process like for a refi? The advertisements make everything seem online, so I’m wondering how this is accomplished? Is it a drive-by, comps, or a visit?

    1. Hi Lisann:

      The appraisal process for loans through Rocket Mortgage is the same as it is for regular loans. The appraisal requirements depend on the type of loan you’re trying to get. I’m going to have someone reach out to you to give you more information.

      Thanks,
      Kevin Graham

  90. We purchased a second home 2 months ago with cash and are interested in a mortgage or loan for renovations. A refinance would not really apply as there is no current mortgage. Is that correct? Wondering what would be the best way to go. We need to get rolling on the renovations!

    Thank you.

    1. Hi Bonnita:

      You could do a cash-out refinance. You would just have to wait a few more months. If you were applying with a conventional or VA loan, the waiting period is six months from the time of purchase. If you’re applying with FHA, it’s a year.

      Thanks,
      Kevin Graham

  91. I have seen a house in the iva s.c.area for5,000 dollar s. Would love 2buy it, it needs work did not know if you all would loan the money for a house like that?

    1. Happy New Year’s Eve, Patricia! In most cases, home loans can only be acquired for more expensive homes (typically a minimum of $30k on primary residences). I recommend that you start by looking at personal loans for this house, which you could get up to $30-$35k (depending on your situation), but these loans will also have a higher interest rate. That being said, make sure you take into account the necessary repairs on a $5,000 house. While I don’t know all of the information for your situation, I do know that houses at that price are known for having hidden costs. Before you agree to buy anything, make sure you have a home inspector look at the big four: roof, water heater, furnace and foundation. Any one of these could cost you thousands of dollars to fix or replace. Again, I don’t know the whole situation, but I suggest that you proceed with caution. In other words, if the deal seems to good to be true, it usually is.

      All the best,
      Patrick Chism

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