
RocketLoans Personal Loans
Would you recommend RocketLoans Personal Loans to your friends?
Community Rating | Strongly recommended |
APR (Fixed APR) |
7.161% - 29.99% (Verified 08/04/2023)
|
Loan Amount | $2,000 - $35,000 |
Loan Term (Months) | 36 - 60 months |
Number of Reviews | 13 |
RocketLoans Personal Loans Review
RocketLoans Personal Loans is offered by RockLoans Marketplace LLC, a direct lender founded in 2016 and based in Detroit, MI. RocketLoans are available in 48 states across the USA.
Key Takeaways
- APRs starting at 7.161%. These are typical starting rates for personal loans.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Prequalified rate. You can check your prequalified rate at RockLoans Marketplace LLC with a soft pull that will not affect your credit score.
- Origination fees of 1% to 6%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
- Minimum income of $24,000. You will need an annual income of at least $24,000 to apply for RocketLoans Personal Loans, which is above average for the lenders in our database.
RocketLoans Pros & Cons
Pros | Cons |
---|---|
|
|
RocketLoans FAQ
What interest rates and personal loan terms does RocketLoans offer?
RocketLoans has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does RocketLoans offer?
RocketLoans offers a fixed APR personal loan product that ranges from 7.161% APR up to 29.99% APR.
How much can you borrow via RocketLoans?
Personal loan amounts start at $2,000and go up to $35,000
What is the maximum loan term you can get with RocketLoans?
RocketLoans offers loans with terms of up to 60 months.
Personal Loan Amount | $2000 - $35000 |
Loan Term | 36 - 60 months |
APR | 7.161% - 29.99% |
What fees does RocketLoans charge?
Does RocketLoans charge an origination fee?
RocketLoans may charge a personal loan origination fee of 1% to 6% of the personal loan amount. RocketLoans deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.
Does RocketLoans charge a late fee?
Yes, RocketLoans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $15, which is triggered if you're 10 days late.
Does RocketLoans charge prepayment fees?
No, RocketLoans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
Origination Fee | 1% - 6% |
Prepayment Fee | No |
Late Payment Fee | $15 |
What do you need to qualify for RocketLoans Personal Loans?
Applicants with a credit score of at least 640 and up to 850 may be eligible for RocketLoans Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.To qualify for personal loans with RocketLoans Personal Loans, applicants need a minimum annual income of $24,000 or higher. RocketLoans Personal Loans only considers borrowers who are employed and meet the minimum income requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via RocketLoans Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by RocketLoans Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Proof of citizenship or residence permit
Minimum Age | 18 |
Bank Account Required? | Yes |
Application Types Accepted |
|
Credit Score | 640 - 850 |
What is the estimated funding time for a personal loan via RocketLoans?
RocketLoans will typically approve (or deny) a loan application within 24 hours and fund loans within 7 business days of approval.
Are RocketLoans Personal Loans legit?
RocketLoans Personal Loans was founded in 2016. It is an established company that has been in business for 7 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Message From RocketLoans
Message From Our Editor
Contact
- Headquarters
-
1274 Library Street, 2nd Floor
Detroit, MI 48226 USA - (800) 333-7625
- Visit Site
- Email Support
About RocketLoans Personal Loans
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
Late Fee Amount | $15 |
Late Fee Grace Period | 10 days |
No Prepayment Fee | |
Origination Fee (%) | 1% - 6% |
RocketLoans Personal Loans Community Reviews
Would you recommend RocketLoans Personal Loans to your friends?
- Blue Trust Loans
- Bridge City Bank Personal Loan
- Cambio Credit Builder Loan
- Consumers Credit Union Personal Loan
- First Bank and Trust Personal Loan
- Grace Loan Advance Personal Loans
- Kashable Loans
- LendingForBadCredit.com
- LendingUSA Personal Loans
- MoneyKey Installment Loans
- SELCO Personal Loans
- Spotloan Personal Loans