The Rocket Homes Real Estate LLC main office is located at Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226. Contact: (855) 411-0505. Rocket Homes℠ is a registered trademark licensed to Rocket Homes Real Estate LLC. The Rocket Homes℠ Logo is a service mark licensed to Rocket Homes Real Estate LLC. Rocket Homes Real Estate LLC fully supports the principles of the Fair Housing Act.
Rocket Homes Real Estate LLC is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at help@rockethomes.com.
New York: Standardized Operating Procedure for Purchasers of Real Estate Pursuant to Real Property Law 442-H
TREC: Information about brokerage services, Consumer protection notice
California DRE #01804478 | Hawaii License # RB-23371, Principal Broker: William J Oliver
1Based on Rocket Mortgage data in comparison to public data records.
2Based on Rocket Homes℠ closed client surveys received from 2011-2021.
Apple and the Apple logo are trademarks of Apple Inc. registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Wear OS by Google and Google Play are trademarks of Google LLC.
Rocket Mortgage, LLC, Rocket Homes Real Estate LLC, RockLoans Marketplace LLC (doing business as Rocket Loans) and Rocket Auto LLC are separate operating subsidiaries of Rocket Companies, Inc. (NYSE: RKT). Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation and applicable legal and regulatory requirements.
© 2024 Rocket Homes Real Estate LLC. All Rights Reserved.
FAQs
Rocket Mortgage ranks third in customer satisfaction among home loan lenders, according to the latest J.D. Power Mortgage Origination Satisfaction Study. Rocket also earns high marks in satisfaction for mortgage servicing — the collection of loan payments from borrowers and dispersing the funds to third parties.
Is Rocket Homes the same as Rocket Mortgage? ›
Hawaii License # RB-23371. TREC: Information about brokerage services, Consumer protection notice. Rocket Mortgage, LLC and Rocket Homes Real Estate LLC are separate operating subsidiaries of Rocket Companies, Inc.
What is the concept of home equity? ›
But what exactly is equity? In the simplest terms, your home's equity is the difference between how much your home is worth and how much you owe on your mortgage.
Does Rocket Mortgage require cash reserves? ›
Cash Reserves
Cash reserve requirements vary by lender. For loan amounts below $1 million at Rocket Mortgage®, you'll need 6 months' worth of reserves. For amounts over $1 million, a year of reserves is required.
What is the disadvantage of Rocket Mortgage? ›
Cons. Getting a customized interest rate requires a credit check, which can affect your credit score. Origination fees are on the high side compared with other lenders, according to the latest federal data. Doesn't offer home equity lines of credit.
Is it hard to get approved with Rocket Mortgage? ›
Minimum 580 Credit Score
Rocket Mortgage requires a minimum credit score of 580 for FHA loans.
What is the Rocket Mortgage controversy? ›
Rocket Mortgage has agreed to pay up to $3.5 million to settle a class action lawsuit from mortgage bankers claiming that the company failed to properly pay them overtime wages.
Why do people use Rocket Mortgage? ›
Why should I use Rocket Mortgage? Rocket Mortgage® lets you work at your own pace, while providing award-winning customer service and expert advice. It lets you apply online, anytime, at your convenience – which means it's there when you need a fast approval to buy a house or a way to lock your rate when rates drop.
Who is the parent company of Rocket Mortgage? ›
Seeing the possibilities of this mortgage lender rooted in technology, Intuit Inc. (creators of market-leading software TurboTax and QuickBooks) purchased Rock Financial. The company was renamed Quicken Loans.
What happens if your house is worth more than your mortgage? ›
While being upside down on your mortgage won't prevent you from selling your home, you will need to pay the difference between the sale price and the balance on your loan. So, if your home sells for $200,000 and you owe $225,000 on your loan, you'll need to pay the lender $25,000.
Home equity isn't taxed when you haven't tapped it. However, if you're looking to take advantage of the equity you've built, you're probably wondering when it becomes taxable. The only time you'll have to pay tax on your home equity is when you sell your property.
Do you have to pay back a home equity loan? ›
How long do you have to repay a home equity loan? You'll make fixed monthly payments until the loan is paid off. Most terms range from five to 20 years, but you can take as long as 30 years to pay back a home equity loan.
Where does Rocket Mortgage get its money? ›
Rocket Mortgage relies on wholesale funding to make its loans and uses online applications rather than a branch system.
Do you need 20% equity to refinance? ›
A general rule of thumb is that you should have at least 20% equity in your home if you want to refinance. If you want to get rid of private mortgage insurance, you'll likely need 20% equity in your home. This number is often the amount of equity you'll need if you want to do a cash-out refinance, too.
Is Rocket Mortgage better than a bank? ›
Rocket Mortgage offers a much wider variety of loan products than the average local bank does and has much more flexible requirements as a result. Though it can be possible to find a local bank that can work with your particular situation, expect to have to shop around more.
Are Rocket Loans legit? ›
Rocket Loans has an A+ rating on Better Business Bureau (BBB) and a 4.8 out of 5 star rating on Trustpilot out of more than 6,000 reviews.
Is Rocket Mortgage secure? ›
Rocket Mortgage® makes the mortgage application process easy. You can apply online or using your phone and choose a Quicken Loans mortgage solution that meets your needs. It's also among the best mortgage lenders for the self-employed. The Rocket Mortgage® platform is absolutely safe to use.
Why would someone use Rocket Mortgage? ›
Why should I use Rocket Mortgage? Rocket Mortgage® lets you work at your own pace, while providing award-winning customer service and expert advice. It lets you apply online, anytime, at your convenience – which means it's there when you need a fast approval to buy a house or a way to lock your rate when rates drop.
