Is Rocket Loans safe?

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.

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.

To apply for a Rocket Loans personal loan, first check for pre-qualification and decide which way you will apply (online or by phone), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a Rocket Loans Personal Loan... read full answer

1. Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a Rocket Loans personal loan. It doesn’t hurt your credit. You can check for pre-qualification on the Rocket Loans website.
2. Decide which way to apply. You can apply for a Rocket Loans personal loan online or by phone. Applying online is the best way because it typically offers the fastest decision.
3. Enter your personal information on the application. Rocket Loans requires the following personal information on the application: your full name, current address, date of birth, driver’s license.
4. Enter your financial information on the application. Rocket Loans requires the following financial information on the application: your income infomation, pay stubs, bank statements and/or tax forms .
5. Double check the application for accuracy. To ensure that your Rocket Loans personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
6. Submit your application. Rocket Loans will typically provide a decision on your application within 2 to 4 business days both for approval and funding.

If you are approved for a Rocket Loans personal loan, you will generally receive the funds within 1 to 3 days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.