RocketLoans Personal Loans
in Personal Loans from RockLoans Marketplace LLC
Would you recommend RocketLoans Personal Loans to your friends?
| Community Rating |
Rating not yet determined |
| Loan Amount | $2,000 - $35,000 |
| APR (Fixed APR) | 5.98% - 28.99% |
| Loan Term | 36 - 60 months |
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 Personal Loans is available in 48 states across the USA.
Key takeaways
- Fast access to cash. In some cases you can get your money within 1 business day.
- Fair credit accepted. The credit score needed for RocketLoans Personal Loans is relatively low. Borrowers with a credit score as low as 640 may qualify for RocketLoans Personal Loans.
- Origination fees of up to 6%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need 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 Personal Loans Pros and Cons:
| Pros | Cons |
|---|---|
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What rates and terms does RocketLoans Personal Loans offer?
RocketLoans Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does RocketLoans Personal Loans offer?
RocketLoans Personal Loans offers a fixed APR personal loan product that ranges from 5.98% APR up to 28.99% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via RocketLoans Personal Loans?
Loan amounts start at $2,000 and go up to $35,000.
What can a personal loan from RocketLoans Personal Loans be used for?
Personal loans from RocketLoans Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, unexpected expenses or similar purposes.
What is the maximum loan term you can get with RocketLoans Personal Loans?
RocketLoans Personal Loans offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
| Loan Amount | $2000 - $35000 |
| Loan Term | 36 - 60 months |
| APR | 5.98% - 28.99% |
What fees does RocketLoans Personal Loans charge?
Does RocketLoans Personal Loans charge an origination fee?
RocketLoans Personal Loans may charge a loan origination fee of 1% to 6% of the loan amount. RocketLoans Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does RocketLoans Personal Loans charge a late fee?
Yes, RocketLoans Personal Loans may charge borrowers a late payment fee of up to $15, which is triggered if you're 10 days late.
Does RocketLoans Personal Loans charge prepayment fees?
No, RocketLoans Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the 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 are 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 are, of course, eligible for the services offered by RocketLoans Personal Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
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| Credit Score | 640 - 850 |
What is the estimated funding time for a personal loan via RocketLoans Personal Loans?
RocketLoans Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.
Contact
- Headquarters
-
1274 Library Street, 2nd Floor
Detroit, MI 48226 USA - Visit Site
Message from RockLoans Marketplace LLC
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
| No Prepayment Fee | |
| Late Fee After | 10 days |
| Late Fee Amount | $15 |
| Origination Fee (%) | 1% - 6% |
RocketLoans Personal Loans Community Reviews
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