How does the Rocket Loans application process work?
Will checking my rate affect my credit score?
Can I reapply for a loan if my application is denied?
Can I get a loan from you if I live outside of the United States?
Payments & fees
How do I make my monthly payment?
What happens if I'm late on making my monthly payment?
What happens if I default on a loan?
Is there an origination fee for my loan?
What is the cost of obtaining a personal loan?
Am I charged a fee if I make an extra payment or pay off my loan early?
If I pay by check, where do I send it?
Are there any hidden fees?
Account management
How do I create an account?
I lost my password. What should I do?
How do I update my account information?
Refinancing
What is a refinance personal loan?
How does the refinance process work?
Will I pay an origination fee if I refinance my loan?
What happens to my old loan when I refinance?
Do I need to make payments on both loans?
Am I charged a fee if I make an extra payment or pay off my loan early?
What happens if I don’t qualify to refinance my loan?
Safety & trust
Why should I use Rocket Loans?
How safe is Rocket Loans to use?
How competitive are the rates at Rocket Loans?
Support & contact
Who can answer questions not addressed here?
All loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. This is not a deposit product. Please refer to our disclosures and licenses page for state-required disclosures, licenses, and lending restrictions.
Qualified clients using Rocket Loans will see loan options for a 36 or 60 month term, and APR ranges from a minimum of 8.01% (rate with autopay discount) to a maximum of 29.99% (rate without autopay discount) depending upon their credit profile. An origination fee of up to 9.99% is charged for each loan. This fee is deducted from the balance before funds are disbursed to the client. For example, a 5-year $16,000 loan with a 14.55% interest rate and a 6.95% ($1,112) origination fee would have 59 scheduled monthly payments of approximately $376.83 and 1 final monthly payment of approximately $399.09 for an APR of 17.90%. Borrower must be a U.S. citizen or permanent U.S. resident at least 18 years of age. All loan applications are subject to credit review and approval and offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate or highest loan amount. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. To qualify for loan amounts from $45,001 to $75,000, you must be a returning Rocket Loans client in good standing or have an existing mortgage relationship in good standing with one of Rocket Loans' sister companies, Rocket Mortgage or Mr. Cooper (Mr. Cooper owned mortgages only). Rates and Terms are subject to change at any time without notice.
Ohio Residents: All loans to Ohio residents must be greater than $5,001. The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Married applicants may apply for a separate account.
Same Day Funding available for clients completing the loan process and signing the Promissory Note by 4:00PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.