If you’re purchasing a home, refinancing the one you have or want to learn more about how mortgages work, we want to make sure you have all the tools you need. That’s why we provide technology, education and customer service to help you with the mortgage process – from applying, to getting approved, to managing your loan.
Here’s how our mortgage process works, and what you can expect from us.
1. Apply for a Home Loan
Find out what kind of loan is right for you with Rocket Mortgage®, our fast, secure, completely online way to apply for a mortgage. If you don’t want to work online, respond to a few quick questions and a Home Loan Expert will contact you.
How We Make It Easier
- Apply how you want: work online, talk to a Home Loan Expert, or both.
- Import your financial information so you quickly get accurate and verified numbers.
2. Explore Your Options
We’ll match your financial situation and goals with the best loan options for you. We’ll analyze and explain the costs, rates and benefits of each loan option so you can decide which one is right for you.
See What Fits Your Budget
- Use our online calculators to help you choose a loan option.
- Explore your refinance options.
- Explore your purchase mortgage options.
3. Verify Your Information
We’ll check to make sure your information is correct. One way we do this is by reviewing your bank account and tax information. We also reach out to third parties like your employer and insurance agent to get info from them.
How We Make Verification Easy
- Import your financial info online so you don’t have to bother with finding and sending in paper documents.
- Real-time updates will keep your loan moving quickly.
4. Close Your Home Loan
Close your home loan when you want, where you want – and schedule it all online. Our process not only helps you stay informed, but also helps by moving at your speed. We’ll provide you documents and support ahead of time, so you understand the details about your closing costs and loan terms before you sign.
What We Offer
- Choose when and where you want to close your loan.
- Our one-of-a-kind Rocket loan® verification process ensures the underwriting of your home loan is as quick as possible. Getting you into your dream home or helping you realize the value of your refinance.
- Use online tools to get your mortgage paperwork before closing.
5. Manage Your Home Loan
We service 99% of our loans, so we can provide you with the same great service once your loan is closed. That means that until the day you pay off your loan, we’ll handle things like collecting monthly payments, maintaining your records and providing timely and easy-to-understand updates.
Servicing with Us
- Make fee-free payments on your mortgage, including one-time, automatic and biweekly payments.
- Get easy access to your tax and insurance information.
- We’ll provide mortgage advice and options to help you as your needs change, or if you face a hardship.
The Quicken Loans Good-Faith Deposit
Find out more about the Quicken Loans deposit, and how it gives you one of the most streamlined loan processes available!
Part of the Quicken Loans AMAZING mortgage process involves accepting a good-faith deposit from all of our clients. This money covers the costs incurred to process your loan, including pulling your credit report, getting an appraisal, and processing the title. But don’t worry; we’ll manage all of that for you and get you to the closing table as soon as possible.
To learn more about the deposit, read our frequently asked questions below.
What is the Quicken Loans deposit used for?
- Pull your credit report – This helps us determine which mortgage programs and rates would best fit your situation.
- Order an appraisal – To find out what your home is worth, we hire an independent appraiser to give an unbiased opinion of your home’s value. (Remember, as your lender, we have no influence over the outcome of your appraisal.)
- Process your loan – Processing includes reviewing and underwriting all documentation, contacting current loan services, insurance and title companies, and covering other potential costs we may pay to outside companies.
How much is the Quicken Loans deposit?
The deposit amounts vary – anywhere from $400-$750. The actual amount can be found on your Deposit Agreement, which explains our deposit policy in detail.
You can use credit, debit and prepaid Visa® or MasterCard® gift cards for your full deposit amount. Your Home Loan Expert will take care of this for you. We don’t accept checks, money orders or cash, as they tend to add weeks of processing time. We take pride in making this a fast, easy, and most of all, AMAZING mortgage process.
When is the Quicken Loans deposit refundable?
Your deposit may or may not be refundable, depending on the status of your loan. Here are two deposit scenarios:
- When you close your loan, we credit your deposit – in full – to your closing costs. For example, if your closing costs are $2,000, and you gave us a $500 deposit, you will only need to bring $1,500 at closing. This will be reflected on your closing statement.
- If your mortgage application is denied, or if you decide not to go forward with your loan, we’ll refund your deposit minus any outside costs we’ve incurred up to that point. For example, if you gave us a $500 deposit, and we spent $300 on an appraisal and $10 on a credit report, you will be refunded the difference of $190.
