The ease with which it's possible to apply, and the friendliness and expertize of its customer service agents are all regularly applauded. Of the near 3,000 reviews, an impressive 65% consider the service they received to be Excellent. Rocket Mortgage receives a rating of 3.6 out of 5 stars on Trustpilot (opens in new tab), a site which aggregates user reviews. Push notifications can be customized to let you know when your payment is due or when there's a change to your escrow account, and you can access all of your loan documents at any time, including statements and tax forms. Then there is the Rocket Mortgage app, through which new borrowers can tap to e-sign their entire mortgage application, and existing customers can easily manage their payments, bank account and autopay. That said, a search button might also prove a good addition for a purely digital platform, but there are two onsite calculators – one for refinance and one for affordability - that can be used to get an approximate idea of your costs. The advice and insight is clear and informative, and you can give them a call if there are any further questions you need to ask. The Rocket Mortgage site is easy to navigate, with plenty of prominent buttons, a learning center and a well laid-out FAQ section. While the company’s commitment to providing a personalized rate can be seen as a positive, if you just want a quick idea of the rates on offer, this can also prove a frustration. Instead, you’ll need to create an account before you can really dig into your costs and estimates, with the size and type of the loan, your credit score, and interest rates all playing a role in determining how much you’ll pay to borrow the money. It is suggested that you will need between 2% and 5% of the purchase price for closing costs – even for no-down-payment loans, such as VA loans - but that's about all there is upfront. There’s no cost associated with seeing your mortgage recommendations or to get approved, but it is difficult to find information about APRs and fees solely from the Rocket Mortgage site. Rocket Mortgage review: Interest rates and charges You will also be asked for your online banking username and password, or details about how much money is in each account you want considered for your approval – this could include checking and savings accounts, retirement accounts, stocks and other assets. To apply, you will need your income and employer information, your Social Security number, and a separate email address for each person that will be on the loan. In general, it is suggested that you have at least 3% of the home’s purchase price for a down payment. In terms of how much money you need to buy a home with Rocket Mortgage, much depends on the type of loan and the value of the home in question. (Image credit: Future) Rocket Mortgage review: Other requirements
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