Rocket Loans

Rocket Loans is an online personal loan product offered by Rocket Companies, the same company behind Rocket Mortgage. It offers unsecured personal loans that can be used for debt consolidation, home improvement, major purchases, and other personal expenses. The application is completed entirely online, and Rocket Loans markets same-day funding as a feature for qualified applicants who complete the process before daily cutoff times.

Rocket Loans serves consumers across a range of credit profiles. The interest rates and terms offered depend on your credit score, income, and other financial factors. Consumers with good or excellent credit will generally receive more favorable offers than those with fair or limited credit histories.

Rocket Loans may charge an origination fee on some loans, which would be deducted from the loan proceeds. Review the full fee structure and APR in any offer you receive before accepting. The total amount you repay over the life of the loan is the most important figure to compare across lenders.

As with any personal loan, pre-qualify with multiple lenders before accepting an offer. Banks, credit unions, and other online personal loan platforms may offer comparable or better terms depending on your credit profile. Credit unions in particular often have competitive personal loan rates for their members.

Rocket Loans is a straightforward online personal loan product for consumers who want a simple application process and fast funding. There are no prepayment penalties on Rocket Loans products, so you can pay the loan off early without additional costs. Review the full loan agreement including the APR, any fees, and total repayment amount before signing.