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Rocket Mortgage

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LAST UPDATED: July 10th, 2019

Developed by Quicken Loans, the largest mortgage lender in the United States, Rocket Mortgage is an online lender that does VA loans in addition to several other home purchase loans and refinance loans. When you use Rocket Mortgage to get your VA loan, Quicken Loans processes the loan. And you manage your loan through the Rocket Mortgage app for the life of the loan rather than needing to worry about tracking it elsewhere.

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The Good

  • App Convenience
  • RateShield Approval
  • Clear Eligibility Requirements


App Convenience


The Rocket Mortgage app for iOS and Android can save prospective borrowers time and keep them organized while obtaining a VA loan. The application process is automated so instead of manually entering income, you can use the automatic search and share feature to connect directly with your bank account and save time.

You can view term and loan options right from the app and select your choice, then have a pre-qualified approval letter ready to go. You can even schedule where and when to close on your loan, view upcoming payments, and manage autopay.


RateShield Approval


You can lock your rate for up to 90 days for a 30-year conventional, FHA, and VA fixed-rate purchase loan.


Clear Eligibility Requirements


To obtain a VA loan from Rocket Mortgage, you need a Certificate of Eligibility from the Department of Veterans Affairs. The company recommends that you have a credit score of at least 620 and a debt to income ratio of no more than 60 percent, but in general, borrowers can qualify for VA loans with a lower credit score and more debt compared to that of traditional loans. Plus, most do not require a down payment and often have lower interest rates.

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The Bad

  • Online Only
  • Minimum Credit Score


Online Only


While the automation used by Rocket Loans is efficient, some borrowers may prefer to go through the mortgage process in a brick and mortar bank or lender’s office. In that case, an in-person lender is a better choice.


Minimum Credit Score


While the Department of Veterans Affairs has not set a minimum credit score for obtaining a VA loan, you need a score of at least 620 to get one with Rocket Mortgage.

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The Bottom Line

Rocket Mortgage by Quicken Loans is a fast, powerful and completely online way to get a mortgage for refinancing or buying a home. Rocket Mortgage is efficient and transparent about requirements and what to expect when getting your VA loan. It covers all 50 states and the Virgin Islands.  And it can't be beaten for convenience! However, if you have not-so-great credit, you’ll need to go with a different lender.

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