Rocket Loans

Rocket Loans serves borrowers in every state except Nevada, Iowa, and West Virginia.

Are you someone who has a fair credit score and needs a loan? Maybe that’s been a problem lately, as some of the options with lower rates and interest rates don’t accept people with scores below excellent. Rocket Loans comes to break that pattern and offer some advantages even for those with fair credit.

Using Rocket Loans, you can get up to $45,000 with low interest rates and use it for whatever you want except for student loans and illegal activities. You can also get smaller loans starting at $2,000 to accomplish whatever you want. If you are looking for flexibility, large amounts of money and many advantages, you will surely find something to enjoy with Rocket Loans.

Are you ready to understand how to get approved, main advantages and cons of using Rocket Loans ? Read on to find out everything you need before trying to get a loan of your own and achieve your personal goals.

Credit Card
Rocket Loans
TAEG 6.72% a 29.99% Get cash in 24 hours
Apply for loans from $2,000 to $45,000
How to Apply You will remain on the current site

How does the Rocket Loans work

RockLoans Marketplace LLC (Rocket Loans) was launched in 2016, where the online lender is a sister company to Rocket Mortgage, founded in 1985. The original company has since evolved to include several other sister companies, such as: Rocket Auto and Rocket Homes , as well as several insurance providers.

You can get up to $45,000 in soft, low interest rate loans. Those seeking Rocket Loans can check their rate and determine eligibility without a hard inquiry on their credit report, and those who are approved can apply online and receive same-day funding.

Also, it’s worth making it clear that to get this loan, you must have a minimum score of 580 points, with up to $24,000.00 minimum income per year – outside these criteria, you may be rejected in Rocket Loans’ verification.

Who is Rocket Loan for?

Do you have a minimum credit score of 580 and an income good enough to cover the loan amount you are looking for? Then Rocket Loans may be the right choice for you. After all, the application process will focus much more on your income and ability to pay your monthly installments than on your score – which must be at least 580 points.

We know that modern life sometimes doesn’t allow people to maintain an excellent score, despite how much you earn. This is why applying for this type of loan may seem a bit different to you. But rest assured, the score is still worth it if you are someone who really needs a personal loan.

Advantages from Rocket Loans

The Rocket Loan is available for almost all of the US and offers great interest rates for most users. But there is a little more to this line of credit that may convince you to get a loan and make your financial dreams come true.

Some advantages include:

  • TAEG 6.72% a 29.99%
  • No prepayment penalties
  • Easy online application process
  • Soft credit pull for loan pre-approval
  • Rate discount available with automatic payment
  • Approval within 24 hours and funding the same day
  • Check your rate with no impact to your credit score

Cons from Rocket Loans

Certainly Rocket Loans is not perfect. For starters, the payment date is completely inflexible, meaning that people who want to close a loan are not able to choose their payment date when signing the loan agreement – the process is plastered on.

In addition, we also have to talk about the repayment terms. They are quite limited, being only a choice of three or five years. There is no option to choose a shorter term and pay less interest or a longer term to reduce your monthly payments.

And finally, the famous fees appear. In this case the origination fee hits the 6% ceiling – that is, up to 6% of the loan amount can go out before it reaches your pocket.

How to qualify for a loan from Rocket Loans

Rocket Loans works with a combination of the user’s credit history and ability to pay. See what you need to qualify:

  1. Minimum credit score of 580
  2. Minimum credit history of two years
  3. Minimum annual income of $24,000
  4. Must provide Social Security number
  5. Must be at least 18 years old in most states

If you meet all these requirements, go to the Rocket Loans website and start your application.

How to Apply

Rocket Loans offers a simple online application process for those interested in a personal loan. To apply, follow these steps:

  1. Pre-qualification – Start by filling out the Rocket Loans online pre-qualification form.
  2. Select Your Loan – View your offers and choose your loan amount, term, and rate.
  3. Submit Your Application

If you are approved for a Rocket Loans personal loan, you can receive the funds the same day.


Rocket Loans provides a viable option for those with fair credit scores looking for flexibility in loan amounts and competitive interest rates. However, potential borrowers should consider the fixed repayment terms and origination fees before applying. If you meet the eligibility criteria and value quick funding and a straightforward application process, Rocket Loans could be a good fit for your financial needs.

Credit Card
Rocket Loans
TAEG 6.72% a 29.99% Get cash in 24 hours
Apply for loans from $2,000 to $45,000
How to Apply You will remain on the current site
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