• Minimum Borrow Amount: $2,000
  • Maximum Borrow Amount: $45,000
  • Turnaround Time: Same Day Funding Available

Rocket Loans Review

Get a reasonable cost installment loan from $2,000 to $45,000, even with less-than-perfect credit.

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Bad credit doesn’t mean you have to pay those high rates offered by some other short-term lenders. The lower rates offered by Rocket Loans can help offset the cost of borrowing, though there are still risks involved.

$2,000 Minimum Amount

$45,000 Maximum Amount

Same Day Funding Available (turn around time)

Business Hours:
Monday – Friday: 9:00 AM – 7:00 PM EST
Saturday: 9:00 AM – 6:00 PM EST

Advertiser Disclosure

Product Name Rocket Loans Installment Loans
Min. Amount $2,000
Max Amount $45,000
Turnaround As Early as the Same Day
Requirements Must be at least 18 years old, U.S. resident,
reside in the servicing state,
and consistent income

Must be at least 18 years old
U.S. resident
Reside in a servicing state
Consistent income



What products does Rocket Loans offer?


Rocket Loans offers personal loans that are unsecured meaning there is no collateral required. Personal loans are generally used to help with unforeseen expenses, emergency funds, debt consolidation, and home improvement projects.


What are the benefits of borrowing from Rocket Loans?

  • Quick and simple application process
  • Receive funds quickly
  • Flexible monthly payments
  • No penalties for pre-payments
  • No hidden fees

What should I know prior to taking out a loan with Rocket Loans?

  • Rocket Loans has several sister companies that offer different products: If a personal unsecured loan doesn’t satisfy you financial needs there are three other sister companies: Rocket Mortgage, Rocket Homes (search engine for buying and selling homes), Rocket HQ (serves as a financial education platform).
  • Try the Rocket Loan’s Simple Loan Calculator: If you would like to forecast what your predicted payments would be for the loan amount you need, you can get an immediate response using the loan calculator featured on their site. By entering the desired loan amount, desired interest rate, and desired payment term will reveal your monthly payment, the total amount that would be paid, and the total interest.
  • Always read your loan agreement prior to signing it: It’s always recommended to review and understand your loan agreement prior to signing it. In the loan agreement, the interest rate, total interest, total payments, payment frequency and amounts, the principal, and other terms and conditions regarding the loan and the company you would borrow from.

What is required to apply for an installment loan with Rocket Loan?

  • Other than the states of Nebraska and Alabama (whose minimum age requirement is 19 years old), the minimum age requirement is 18 years old. Applicants must also be U.S. citizens and live in a state where Rocket Loans offers service. In addition to these requirements, your credit score, monthly income, and your debt to income ratio will also be considered when determining your eligibility for a loan.

Where do I apply?

You can apply for a personal loan online at https://www.rocketloans.com/inq/index.html#/

Bottom Line

Rocket Loan offers a product that can be resourceful to those who are short on cash or need funds quickly. If curious to see what your possible payment plan would be you have the option to get an estimated monthly payment using the Simple Loan Calculator. As always, it’s strongly encouraged to review your loan agreement prior to signing it.

FAQ

If you have a change of circumstance that may make you eligible for a loan, you’re more than welcome to reapply.

Rocket Loans wants to assure they are giving the right person the funds they need. Therefore, using your bank information is the best way to verify that you will receive funds and establishes a channel where you can make payments for your loan.

Multiple factors contribute to what your interest rate will be such as the principal, payment method, credit history, annual income, debt to income ratio, and how many credit inquiries you currently have on your credit report.

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