RocketLoans Personal Loans
RocketLoans Personal Loans
in Personal Loans from RockLoans Marketplace LLC

RocketLoans Personal Loans

in Personal Loans from RockLoans Marketplace LLC
SuperMoney Net Recommendation Score +69  


This product is strongly recommended by SuperMoney users with a score of +69, equating to 4.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

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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
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 1 business day.
  • APRs as high as 29.99%.
  • Charges an origination fee of up to 6% of the loan amount.
  • RocketLoans Personal Loans does not report to credit bureaus.
  • Charges a late fee of $15

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.

RocketLoans Interest Rates & Loan Terms
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.

RocketLoans Fees
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
RocketLoans Eligibility Criteria
Minimum Age 18
Bank Account Required? Yes
Application Types Accepted
  • Individual Applications
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.

RocketLoans Personal Loans Disclosure: All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state-required disclosures, licenses, and lending restrictions. Qualified clients using RocketLoans will see loan options for a 36 or 60 month term, and APR ranges from a minimum of 5.983% (rate with autopay discount) to a maximum of 29.99% (rate without autopay discount) depending upon their credit profile. An origination fee of 1% - 6% is charged for each loan. This fee is deducted from the balance before funds are disbursed to the client. For example, a 3 year $10,000 loan with an 8% interest rate and a 4% ($400) origination fee would have 36 scheduled monthly payments of $313.36 for an APR of 10.796% (rates assume autopay discount). Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval and offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Same Day Funding availability for loan amounts up to $25,000, and client must complete loan process and sign Promissory Note by 1:00PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.
SuperMoney Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From RocketLoans

Headquartered in Detroit, RocketLoans was established to create the most simple, rocket fast personal loan process. We assembled a top-notch team of individuals combining new, passionate team members with some of the best veterans from Quicken Loans to create the most user-friendly lending platform in the world.

Message From Our Editor

What We Love About RocketLoans

RocketLoans does a great job of offering premier customer service and follow-up, even in their online format. They have chats readily available, live agents on call, and emails galore to ensure that consumers are always in the loop with their lending process and the world of personal loans in general. Their service and communication are what give people peace of mind, and it’s just unfortunate that they don’t deal in subprime loans.

Some loans can even be funded the same day, although consumers may have to wait 1-3 days depending on the requirements of their own bank and how they process funds.

What Could RocketLoans Do Better?

Currently, RocketLoans only works with people who have good to excellent credit. That means that you’re usually once again in the situation where you have to “have money” to get money. People with subprime credit will either get really high interest rates or be denied completely. If they could find a way to expand their offerings to a wider market of consumers with less-than-perfect-credit (the majority of the country these days), they might serve to impress us even more.

RocketLoans Backstory

Quicken Loans has been serving the mortgage industry for decades, taking pride in their singular focus. However, they have recently begun to expand their offerings into other lending arenas, including personal loans. In 2016, Quicken launched their online RocketLoans personal loan service, offering fast, easy online personal loans to borrowers who have good to excellent credit.

RocketLoans serves to simplify the personal loan process and help people get money faster and easier when they need it most. They have multiple terms and APR options, as well as a range of loan amounts to suit just about any need.

The Verdict

Backed by a financial giant like Quicken, RocketLoans proves to be a valuable resource for those who need personal loans and who have good credit to begin with. Of course, there may be other options out there to consider.

Check out personal lenders and how they stack up to Rocket Loans to make sure you’re choosing the right loan.


About RocketLoans Personal Loans


  Available in 48 states
  • 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%
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $24,000
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
Credit Score Range 640 - 850
APR Type Fixed APR
Loan Amount $2,000 - $35,000
APR (Fixed APR) 7.161% - 29.99%
(Verified 08/04/2023)
Loan Term 36 - 60 months

RocketLoans Personal Loans Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +69, equating to 4.4 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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