Have any of you had experiences dealing with Rocket Mortgage as a borrower? As a first-time buyer, I’m currently in the process of shopping for a lender. My plan is to speak with a big bank, a local lender, and an online lender to determine which option suits me best.
I’m contemplating Rocket Mortgage for my online lender choice. Any feedback or insights you can provide would be greatly appreciated!
Stay away from Rocket Mortgage! My initial experience with them as a senior citizen homebuyer was terrible. They canceled the closing four days prior, even though I was informed everything was fine; I had to pay hundreds in non-refundable fees as a result. Reviews indicate that I am not the only person they have harmed. Instead, choose a reputable, neighborhood mortgage business.
Rocket Mortgage is not the cheapest option, with rates that are frequently higher than national averages and extra expenses like origination and rate-lock penalties. When I took out a loan with them in 2010, the procedure was very sophisticated. However, in 2023, when checking their refinance rates, the staff were forceful, frequently calling and emailing, creating a hostile and high-pressure environment.