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.
Partner Disclosure
Although we don't cover every financial product or company, we strive to offer a diverse selection of offers and objective editorial viewpoints from the Max Cash content team. Our partners and affiliates, which include some of the lenders we may recommend, have no bearing on our editors' opinions or ratings, which are dependent on internal opinion and derived from analysis and research. You can find a list of our partners here.
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 30 Days for Payday Loans, 12 Months for Personal Loans | Up to 84 Months |
| Funding Timeline | Receive funds by the same day if you apply by 4pm ET on a weekday or the next business day | Receive funds on the same day or by the next business day | By the next business day depending on the loan |
| 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 |
A-1 Payday Loans can offer payday loans and personal loans with fast funding and a quick approval process.4 Applying for a loan in person is an option, but A-1 Payday Loans can only cater to residents of Mississippi.5 |
SoFi provides a quick and easy online lending experience with convenient loan approvals up to $100,000, if qualified.5 Use funds for a multitude of uses, including home repairs and refinancing, but only for consumers with relatively decent FICO scores. |
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.
Ready to See if You Qualify for Funding?
Partner Disclosure
Although we don't cover every financial product or company, we strive to offer a diverse selection of offers and objective editorial viewpoints from the Max Cash content team. Our partners and affiliates, which include some of the lenders we may recommend, have no bearing on our editors' opinions or ratings, which are dependent on internal opinion and derived from analysis and research. You can find a list of our partners here.