Is Rocket Loans legit?

Applicants need a minimum credit score of 640 to get a personal loan from Rocket Loans, according to multiple third-party sources. That means the Rocket Loans personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.... read full answer

Keep in mind that just having a 640 credit score is not enough to qualify you for a Rocket Loans personal loan. Rocket Loans will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you. It's also worth noting that some applicants might be able to get a personal loan from Rocket Loans with a slightly lower score if it's offset by other factors like an especially high income. But it's best to wait to apply until your score meets the threshold.

If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a Rocket Loans personal loan online to gauge your chances of getting approved with your current credit score.

It takes 2 to 4 business days to get money from a Rocket Loans personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.... read full answer

How to Get Money From Rocket Loans as Fast as Possible

• Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from Rocket Loans having to request additional information.
• Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
• Get your credit score above the minimum. Ideally, you should only apply for a Rocket Loans personal loan once your credit score exceeds the minimum requirement of 640. That will make it easier for Rocket Loans to decide whether you qualify, which could lead to a quicker decision.
• Apply online. Online applications have the fastest processing times since they are automated and streamlined.

Once you get approved for a Rocket Loans personal loan, the money will be delivered through an electronic funds transfer to your bank account, which usually takes 1 to 3 days.

You can get Rocket Loans personal loan pre-approval through the Rocket Loans website. Rocket Loans pre-approval allows you to see your odds of approval for a personal loan from Rocket Loans, as well as your potential interest rate, and the process will have no impact on your credit score.

How to Get Rocket Loans Personal Loan Pre-approval... read full answer

• Go to the Rocket Loans website.
• Click on Get Started.
• Enter the loan purpose, your housing situation (own or rent), empployment status, personal annual income, home address, name, phone number, date of birth, email address, and Social Security number.
• Click See My Options.

Once you receive your Rocket Loans pre-approval status, you can choose whether or not to actually submit an application. Getting pre-approved does not mean you're guaranteed to be approved if you apply, but your approval odds will be very high.

If you want to consider more options first, you can try out WalletHub's free personal loan pre-approval tool, which checks for pre-approval with multiple personal loan providers at the same time.