Rocket Loans has the personal loan application process streamlined to a science, with online pre-qualifications not impacting credit and funding up to $45,000, if eligible and approved.5 Unsecured personal loans come with predictable, single, fixed monthly payments, which can allow for greater flexibility and no surprises down the line, and Rocket Loans can be used to pay for a multitude of things, like debt consolidation, or simply not dipping into your savings to cover unexpected expenses.
Pros and Cons of Rocket Loans
Rocket Loans can be a solid option for individuals seeking quick and flexible financial solutions through personal loans.5
- Total online experience from start to finish with no credit impact to pre-qualify
- Unlike credit cards, loans have fixed payments and a clear track to pay off
- No prepayment penalties3
- Receive funds in your bank account the same day or by the next business day, if approved5
- 9% origination fee for each loan
- Not available nationwide
- $15 late fee charge per payment cycle
- Maximum 29.99% APR may be higher when compared to some traditional loans
How Rocket Loans Compares
to Other Options
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| Max Cash's Rating | |||
| Repayment Terms | N/A | Up to 60 months | N/A |
| Funding Timeline | Receive funds by the same day if you apply by 4pm ET on a weekday or the next business day | Receive funds in as little as one business day | Receive funds on the same day or by the next business day |
| Bottom Line | Rocket Loans is known for its simple online application, easy documentation requirements, and instant approval for many. Get up to $45,000, if qualified, with no prepayment penalties, but at least a fair FICO score is required.5 |
Avant Loans specializes in simple solutions and convenient loans with exceptional service.5 |
Cash Store can be a great choice for individuals needing quick cash with a streamlined application and funds available the same or next business day.5 For consumers wanting in-person service, there are over 230 locations to choose from, making them highly accessible. |
Frequently Asked Questions about
Rocket Loans
Rocket Loans is a legitimate business that has been operating since 2015.
Call a Personal Loan Expert at (800) 333-7625, or email Support@RocketLoans.com.
Rocket Loans has been accredited by the Better Business Bureau (BBB) and has an A+ rating.
