Has anyone used Rocket Mortgage?

[KFC911]

Just looking for feedback and experiences... thanks!

[RNajarian]

Yes. I refinanced to a VA loan with them last year. I thought it was a good experience. I can not think of anything negative of the experience.

Easy process. Log into your account and upload documents they need. Frequent progress updates.

After the loan it is easy to track payments and amortization.

If I had to do it again. I would

[ard]

Yes, also used them in 2021 and it was a positive experience. Loan agent told me upfront that it would take 30 days to close and seller was okay with that but I have heard that some sellers balk at using Rocket Mortgage because they want a faster close than 30 days.

Also, if you have a relationship with Charles Schwab, the brokerage, you can apply through Charles Schwab. They have a tiered discount arrangement, whereby your interest rate is reduced slightly depending on the value of the assets with Schwab.

HTH

[KFC911]

Thanks guys! I would be involved as a seller, and may let "them" handle things as that's who a buyer is going to use. Any downside to that.... I dunno?

Never sold a house before ... live & learn

[OldSpool87]

Originally Posted by KC911

Thanks guys! I would be involved as a seller, and may let "them" handle things as that's who a buyer is going to use. Any downside to that.... I dunno?

Never sold a house before ... live & learn

Why would you be involved with the buyers financing? Your side of the process should be pretty easy assuming no title issues.

[Rick Lee]

Originally Posted by OldSpool87

Why would you be involved with the buyers financing? Your side of the process should be pretty easy assuming no title issues.

Some types of loans require fees to be paid by the seller or split evenly between buyer and seller.

[Scott R]

Yes have them now, we did a refi during the pandemic to shave a decade off. They were great. Everything is done online, and the closing is done over a live meeting on your PC.

[KFC911]

Originally Posted by OldSpool87

Why would you be involved with the buyers financing? Your side of the process should be pretty easy assuming no title issues.

Caught me by surprise when my "buyer" said that they would be contacting me yesterday... I thought to myself.... why?

I'm going to sell a house to a young couple (distant family connection) and offering them a really good deal. They have opted to use RocketMortgage (I suppose) and I'm now posting on PPOT .

I'm having a survey done (in progress, but taking forever, moving a property line) and when completed I already have an atty lined up to "rewrite the legal def for the deed(s)" Long story...

The RM rep I spoke to yesterday said "they" could do it all when it comes time "for free". I'm not sure how to proceed. I'll probably contact the atty I'll use for the deed work and ask for her input. I would have no problem using her to represent me through this closing process either. I'm just treading water at this point.... sorta clueless .

Thanks all!

[id10t]

Just refinanced w/ my credit union (and pulled out a bunch for needed repairs and updates). All done online except actual signing and notarizing of 4 documents, took about 15 minutes sitting with the teller I've been doing business with for 20 years... from initial phone call to say "hey Eva, I wanna do this... " to closing was 3 and a half weeks, which included a week when one of the people involved was on vacation

[Googam]

What Ard says #3. If you use an investment brokerage, you can always get a better rate. Be a good creditor though, because if you default, they can get to your investments much easier than a traditional lender.

Brad

[KFC911]

^^^^ Sometime back, I suggested "they" might want to use my CU. As of yesterday... RM's rates, origination fees, etc. are significantly higher (... anywhere from .5-1.25), so I'm not impressed with their "choich" .

I didn't get a "warm fuzzy feeling" talking to the RM rep either.... but that's their call. When a rep tells ya that lower interest rates "don't matter as much" when asked .... well there ya go...

I may not know RE... but I do know basic maf

[Seahawk]

My Daughter just used them last week.

She had a very positive experience...like many customer service-based businesses, the point of contact makes all the difference. She said the RM rep was very good at the maf.

They can request a new rep, btw.

[KFC911]

Thanks everyone! Appreciate the feedback...

[KFC911]

Originally Posted by Scott R

Yes have them now, we did a refi during the pandemic to shave a decade off. They were great. Everything is done online, and the closing is done over a live meeting on your PC.

What if I don't have a PC? I'm still trying to understand how this process can be done online. I'm going to have a physical deed, that normally I would sign, have it notarized, and then would need to be recorded here in my county's registrar of deeds, etc.

How do I get paid .... in bitcoins ?

"The check is in the mail" sure ... well then ... so is the deed .

I'm doing this young couple a HUGE favor .... want to make it easy for them, but this ol' dawg goes by Rex....

T-Rex

Can somebody 'splain it to me..... and type slow

[berettafan]

yes for a refi.

they are very 'step 1, step 2, step 3' with multiple people/departments involved. Gets a little frustrating at times but you can follow along with your account online (ie see what you've uploaded, etc).

I miss the old days of my guy Sean C. dropping by and picking up stubs/bank statements and handling the rest. Those days are gone forever though.

[bernardcoghlan]

I haven't personally used Rocket Mortgage, but I've heard some positive feedback from friends who've gone through the process. It might be worth checking out online reviews and gathering more information to make an informed decision.

If you're interested in exploring different mortgage options or need specific advice tailored to your situation, you could consider reaching out to professionals like those at Mortgage Broker Cardiff. They can provide expert guidance and help you navigate the mortgage landscape effectively.

Good luck with your mortgage journey, and I hope you find the right solution for your needs!

[Rich76_911s]

Well, I guess I'll be the outlier here I gave them a shot when I applied for my mortgage in 2020. I was highly disappointed in their business practices. The topline rate looked competitive but they hid that we were paying points to receive a rate that competitors offered without points.

I got a better rate from a local mortgage broker without paying points than what Rocket was offering with points.

Maybe they've changed since then, but I thought they were pretty deceptive in how they operated.

[Norm K]

As long it makes financial sense, I'm still a face-to-face kinda guy and have therefore used Rocket two or three times as leverage with local lenders.

In each case, it must have also made sense to the the local company, as I've ended up with better pricing and terms than what I was being offered through Rocket.

Fortunately, no more mortgages for me.

_

[wilnj]

Did a refi with them just before rates took off, no issues.