Rocket Loans

Yes, Rocket Loans personal loans are legit because Rocket Loans is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Rocket Loans personal loans are legit is that the lender has a rating of A+ from the Better Business Bureau

Why Rocket Loans Personal Loans Are Legit

• Rocket Loans is registered as a business in the states it services.
• Rocket Loans has a Better Business Bureau rating of A+.
• Rocket Loans has been around since 2016.
• Rocket Loans has an average user rating of 4.5/5 on WalletHub.
• Rocket Loans personal loans have a rating of 3.9/5 from WalletHub's editors.
• Rocket Loans has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While Rocket Loans personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Rocket Loans personal loans against your other options before submitting an application.

Rocket Loans offers personal loans, but those loans are actually issued by Cross River Bank, which is a partner of Rocket Loans. Together, they provide personal loans of $2,000 - $45,000 with an APR range of 7.16% - 29.99% and repayment periods of 36 or 60 months to people with credit scores of 640+.

Rocket Loans Personal Loan Terms

• Loan Amounts: $2,000 - $45,000
• APRs: 7.16% - 29.99%
• Repayment Periods: 36 or 60 months
• Origination Fee: 1% - 6%
• Prepayment Fee: $0
• Late Fee: $15 (after 10-day grace period)

For more information, check out the full Rocket Loans personal loan review on WalletHub.

Rocket Loans has a 1% - 6% origination fee and a $15 (after 10-day grace period) late payment fee associated with its personal loans, but does not have a prepayment fee. In addition to these fees, Rocket Loans has a minimum APR of 7.16%, which is lower compared to the typical minimum APR for a personal loan. For your convenience, you can see Rocket Loans personal loan fees and other key terms below.

Rocket Loans Personal Loan Fees and Other Terms

• Origination Fee: 1% - 6%
• Late Payment Fee: $15 (after 10-day grace period)
• Prepayment Fee: $0
• APRs: 7.16% - 29.99%
• Loan Amounts: $2,000 - $45,000
• Repayment Periods: 36 or 60 months
• Credit Score Requirement: 640
• Funding Timeline: 2 - 4 business days

Before applying for any personal loan, it's a good idea to see if you pre-qualify first. To check with multiple lenders at once, try WalletHub's free pre-qualification tool.

Rocket Loans offers personal loans that can be used to cover medical expenses. Rocket Loans's personal loans offer $1,500 - $20,000 in funding with an APR range of 18% - 35.99%, repayment periods of 24, 36, 48 or 60 months and an origination fee of 1% - 10% (based on state).

Rocket Loans Personal Loan Info

• Loan Amounts: $1,500 - $20,000
• Repayment Periods: 24, 36, 48 or 60 months
• APR Range: 18% - 35.99%
• Origination Fee: 1% - 10% (based on state)
• Credit Score Requirement: 640+, according to multiple third party sources

Before you officially apply for a loan, it's a good idea to see if you pre-qualify. You can use the free pre-qualification tool on WalletHub to estimate your approval odds and your potential rates with multiple lenders at once.

Most medical providers accept credit cards, and you may be able to get low-interest financing.

Rocket Loans's requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having a credit score of at least 640. You will also need to have a verifiable bank account to qualify for a Rocket Loans personal loan.

Rocket Loans Requirements for Borrowers

• Credit Score: 640
• Income: $24,000
• Age: 18 years old (at least 19 years old in Nebraska and Alabama)
• Citizenship: U.S. citizen or permanent resident
• Identification: Social Security number
• Bank Account: Verifiable bank account
• Residency: All states state except for Nevada, Iowa, and West Virginia

Before you apply for any personal loan, it's a good idea to pre-qualify. While meeting all of the requirements gives you a good chance of approval, it's never guaranteed. To pre-qualify with multiple lenders at once, check out WalletHub's free pre-qualification tool.