Rocket mortgage reddit

2% cash back toward your loan balance4. Cardholder exclusive: Use points to pay off your mortgage faster and shave years off your Rocket Mortgage loan.

If the advertised discount is 0.5% and current rates are 3.5%, should I expect 3.5-0.5 = 3%, or is it 3.5*0.995 = 3.4825. I expected the former, but based on the initial conversation with Rocket Mortgage it might be the latter. Or is it a matter of Rocket just not being too competitive knowing that they are providing a discount? Edit: fixed mathsADMIN MOD. PMI removal request denied, so ridiculous. I submitted a request to Rocket Mortgage to have our PMI removed. They sent an appraiser to see if our home has surpassed the value in which PMI is no longer mandatory. In our case, $275,245.80 is the value necessary to remove the PMI. So the appraiser came and spent about 15 mins … Rocket Mortgage: An honest review. As a first time home buyer and a first generation home buyer, I was absolutely lost when it came to the purchase of my first home. Like many other clueless individuals, I turned to google to begin my mortgage lender search. Of course, from the first moment I searched the web, rocket mortgage has flooded me ... Quicken /Rocket has gotten a bad rep because mostly people who have bad experiences come here and complain. I personally use a mortgage broker. Having said that, I think the first lender you have is way over priced. The average I believe is somewhere between the two you have. Posted by u/KAW42089 - 11 votes and 16 commentsRocket Rewards

Reverse Mortgages are convenient loans that give you cash using your home’s equity. Some people find these loans help them, but they can lack the flexibility others offer. In order...Check for reviews and ratings to learn more about Rocket Mortgage® on CreditKarma.com before making a decision on a mortgage lender. Credit Cards Shop Credit Cards Balance Transfer Cards Reward Cards Travel Cards Cash Back Cards 0% APR Cards Business Cards Cards for Bad Credit Cards for Fair Credit Secured Cards …Then, divide that number by 12 to get the amount of interest paid per month. Finally, multiply the number by 6 to get the fee of 6 months’ interest. The equation should look like this: $200,000 .05 = $10,000. $10,000 ÷ 12 months = $833.33. $833.33 6 months’ penalty amount = about a $5,000 penalty.DTI from 36% to 41%: A DTI ratio in this range indicates to lenders that you have a manageable level of debt and earn enough income to cover a new mortgage payment. Lenders are more likely to approve loans for borrowers with DTIs in this range. DTI from 43% to 50%: A DTI ratio in this range often signals to lenders that you have a lot of …Suzanne Kvilhaug. Rocket Mortgage vs. Your Local Bank for Mortgage Loans: An Overview. Since the dot-com boom of the late 1990s, online mortgage …We want to stay in touch, but only in ways you find helpful. If you no longer want to receive marketing or promotional information from Rocket Mortgage, ...

I’ve been a banker at Rocket Mortgage since end of November. November- hit my prorated goal of 3 loans, didn’t make a whole lot ($1200?) but it was for like 1.5 weeks worth of loans at that time. December, hit my prorated goal(was out a weeek due to Covid) , made about $4800 in commission, $2400 in base pay. Rocket retail rates are horrid, make sure to get 3 offers within 24 hrs of each other to compare. Being a mortgage broker that does 85% of my business with Rocket I’ve never had a problem closing my clients deals on time with very aggressive rates. Rocket retail is a different story. I would never use this company. DO NOT WORK FOR ROCKET MORTGAGE. I’ve been at rocket mortgage since March 18th and I’m currently in the process of finding a new job because I’m so sick of their micromanaging bs they really wanna tell me A GROWN ASS MAN how much I can and can’t use the bathroom smh and not only that the hours are bullshit I’m working 45 sometimes 50 ... Rocket retail rates are horrid, make sure to get 3 offers within 24 hrs of each other to compare. Being a mortgage broker that does 85% of my business with Rocket I’ve never had a problem closing my clients deals on time with very aggressive rates. Rocket retail is a different story. I would never use this company.

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I am Paying about 70 dollars a month for PMI, mortgage is about 96k. Rocket called me Today wanting to refi for 7%, but with no PMI, and a home equity loan that would cover my truck loan (~20k 7%) and my roof loan (3500, 10%) plus put 10-15k in my pocket for a home improvement project i have in mind. ... Reddit's hub for advice, articles, and ...As of 2014, the fastest rocket ship, NASA’s New Horizons spacecraft, was recorded at a speed of 36,000 miles per hour. The speed a spacecraft travels depends on if it is ascending,...Quicken/Rocket Mortgage is also notorious for advertising rates that come from <75% LTV (which is cheaper than an 80% LTV that most people are looking for) and quoting 2 points on their rates. Its extremely deceiving when you see their 2.625% rate and they say “oh closing is $4500”, and their competitor has 2.875% and a $700 closing fee.Definitely get the Park Detroit app if you don't have it already! I was working with an intern at Rocket Mortgage and was moved to Rock Central. The intern was a software engineer. I tried to advocate for that intern's return offer, and he did get the offer.Rocket Mortgage sucks. Ask your new realtor for their preferred lender and get pre-approved through them. Yeah you don’t have to use the agent that Rocket pairs you …Today’s rates are based on a set of details called assumptions. They can include the following: A loan amount. Points paid at closing to get a lower interest rate. You’re buying or refinancing a single-family home that’s your primary residence. If refinancing, you’re not taking cash out.

Rocket League, the high-octane vehicular soccer game, has taken the gaming world by storm since its release. With its unique blend of fast-paced action and strategic gameplay, it’s...WallStreetBets founder Jaime Rogozinski says social-media giant Reddit ousted him as moderator to take control of the meme-stock forum. Jump to The founder of WallStreetBets is sui...No, you will not receive any monetary compensation. That was unlikely before there were shareholders, that's less likely now. If you were going through a broker, they might comp appraisal fee number 2 as a customer service thing, but that's kind of it. They do thousands of refinances a month.Lender 1 offers a 6.5% rate with 2 points on a $400k loan, that means the home buyer is paying the lender 2% ($8,000) upfront. (FRONT END) Lender 1 will also sell that loan to …The last time someone called me I blew up on them saying I WAS a happy rocket mortgage customer (their loan process was streamlined and super fast) but calling me everyday to refinance my loan after me repeatedly telling you NOT TO DO SO has convinced me to no use their service in the future and in-fact I WILL refinance my loan though another ...If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to ma...Aug 2, 2022 ... What matters is what the perception among listing agents is of how good Rocket Mortgage is and the reality is 99% of agents think Rocket ... This has caused major issues with our sellers in Kentucky so we may end up missing the purchasing window for the house up there — resulting in us having NO house when the dust settles. 0/10, would not recommend Rocket Mortgage. Very very bad experience with rocket mortgage as a first time home buyer. Check for reviews and ratings to learn more about Rocket Mortgage® on CreditKarma.com before making a decision on a mortgage lender. Credit Cards Shop Credit Cards Balance Transfer Cards Reward Cards Travel Cards Cash Back Cards 0% APR Cards Business Cards Cards for Bad Credit Cards for Fair Credit Secured Cards …

At Rocket Mortgage, the minimum qualifying credit score is 580. Keep in mind, you can qualify for more favorable terms with a higher score. And one good thing about the VA guarantee is it gives lenders a chance to help more borrowers who may have less-than-perfect financial histories.

Definitely get the Park Detroit app if you don't have it already! I was working with an intern at Rocket Mortgage and was moved to Rock Central. The intern was a software engineer. I tried to advocate for that intern's return offer, and he did get the offer. Quicken /Rocket has gotten a bad rep because mostly people who have bad experiences come here and complain. I personally use a mortgage broker. Having said that, I think the first lender you have is way over priced. The average I believe is somewhere between the two you have. Liquid assets: $50k. We bought our house in Arkansas in 2014 for $179k and sold in June for $215k. Our current rent payment is $1450/month here in Savannah. We found a house outside of town for $240k and decided to try an online pre-approval with Rocket Mortgage before going to see the house. 4.0. Home equity loans. NerdWallet rating. The Nerdy headline: Rocket’s home equity loan stands out for a 90% loan-to-value borrowing limit, a generous amount …We’ll clear up some of the most common mortgage myths – and clue you in on the most important truths – about buying a home. 1. You Need 20% Down To Purchase A Home. Many people – especially first-time home buyers – believe that if you don’t have at least 20% down, you can’t buy a home. This isn’t true. Rocket Mortgage. Hi, I applied to an internship at RM and received a request for a phone call with a recruiter. I was wondering if anyone else has gone through their recruitment process and could tell me a little bit about what to expect? Also, is it a good sign that I am having this call or is it pretty standard that everyone does? Thank you. Rocket retail rates are horrid, make sure to get 3 offers within 24 hrs of each other to compare. Being a mortgage broker that does 85% of my business with Rocket I’ve never had a problem closing my clients deals on time with very aggressive rates. Rocket retail is a different story. I would never use this company. Avoid Rocket Mortgage. Other. Another horrible experience with them. Dragged on for months, gave me excuses on they couldn’t reach me for documents while both app and the initial sales rep had no problem getting hold of me before I fork over $500 app fee. Then they proceed to invalid my condo unit based on going litigation which has been ...

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Your income has to be 80% of the area median income. One tip - about 50% of Rocket Mortgage loans come from mortgage brokers. They give brokers WAY lower rates than offered directly through their brand. So if you wanted to do One+ and get a below market rate, I'd suggest contacting a discounted broker.Just got an offer from rocket mortgage for an swe internship. A bit wary though, since its only $19/hr and i would have to relocate to Detroit. Relocation, housing, and travel is provided but im unsure if im willing to do this. Especially since Detroit doesnt exactly have the best reputation when it comes to safety.Your home is worth $250,000 and you currently owe $180,000. To figure out how much your credit limit would be on this HELOC, multiply your home’s value by 80% and subtract your current balance. 250,000 80% = 200,000. 200,000 − 180,000 = 20,000. In this scenario, you could potentially get a credit limit of up to $20,000.Reddit community for TheFinanceNewsletter.com and it's 50,000 readers! (We discuss money, finance, investing, stocks, financial news, personal finance, real estate, crypto and building wealth from different points of views) ... • The Company offers Rocket Mortgage app, which clients use to apply for a mortgage, interact with its team members ...Mortgages. Rocket Mortgage review: The best lender for homebuyers with lower credit scores. Select analyzes home loan options from Rocket Mortgage, one of … I have been shopping around for lenders – Rocket, a local mortgage broker guy (call him Dan), and a bank out in Kansas City (NBKC). Rocket gave me the best rates (conventional, 6.75% using a 1pt buydown) and similar closing costs to the other guys. DO NOT WORK FOR ROCKET MORTGAGE. I’ve been at rocket mortgage since March 18th and I’m currently in the process of finding a new job because I’m so sick of their micromanaging bs they really wanna tell me A GROWN ASS MAN how much I can and can’t use the bathroom smh and not only that the hours are bullshit I’m working 45 sometimes 50 ... You might be able to "buy" a lower interest rate by paying a percentage of the price of the house (a point) up front. For example, you might be able to get a loan rate of 3.875 for 1 point. If it were a 100,000 house, you would be paying $1,000 up front to have a 3.875% rate instead of a 4% rate. ….

A Heloc is a secured line of credit against your house. Think of it like a credit card with better rates, however that rate floats and goes up with the 10 year treasury yield or LIBOR depending on the bank. Banks can shut off the line if things go sour in the housing market. My suggestion is a second mortgage instead. Definitely get the Park Detroit app if you don't have it already! I was working with an intern at Rocket Mortgage and was moved to Rock Central. The intern was a software engineer. I tried to advocate for that intern's return offer, and he did get the offer. LoanSlinger. • 6 yr. ago. I'm biased because I am a loan originator in Denver, but I would not use Quicken. I'm also a veteran, and despite my love of USAA (I have insurance through them), I would not use them for a mortgage. Why? Inexperience - they generally hire brand new LOs who are still learning the job as they go.Buying a Home. Rocket Mortgage Review. Rocket Mortgage offers a quick and easy digital mortgage experience. By. Kat Tretina. Updated October 15, 2022. Fact checked by. Hans Daniel...A corporation I worked for years ago reached out 7 months later saying they had a breech. 351 upvotes · 47 comments. r/personalfinance. MIL offered $5k towards repairing our 10 year old car or $10k towards purchasing a new used car. Details in post. 301 upvotes · 219 comments. r/personalfinance.Senior Counsel at Rocket Central. Northville, MI · Connect · Amy Bishop. General Counsel at Rocket Mortgage. Detroit, MI · Connect · Justin Director. Fr...Jul 19, 2022 · Rocket Mortgage vs. Your Local Bank for Mortgage Loans: An Overview . Since the dot-com boom of the late 1990s, online mortgage companies have become an increasingly significant force in the home ... Rocket Mortgage: An honest review. As a first time home buyer and a first generation home buyer, I was absolutely lost when it came to the purchase of my first home. Like many other clueless individuals, I turned to google to begin my mortgage lender search. Of course, from the first moment I searched the web, rocket mortgage has flooded me ... Quicken/Rocket Mortgage is also notorious for advertising rates that come from <75% LTV (which is cheaper than an 80% LTV that most people are looking for) and quoting 2 points on their rates. Its extremely deceiving when you see their 2.625% rate and they say “oh closing is $4500”, and their competitor has 2.875% and a $700 closing fee. Rocket mortgage reddit, . At a glance. NMLS: 3030. Editor's take. Rocket Mortgage pioneered the all-online loan application, and it still sets the standard in many ways today, ranking second by J.D. …, While other lenders can offer you a preapproval, only the Home Loan Experts at Rocket Mortgage can provide you with a Verified Approval Letter. Underwriters ..., Rocket Mortgage: An honest review. As a first time home buyer and a first generation home buyer, I was absolutely lost when it came to the purchase of my first home. Like many other clueless individuals, I turned to google to begin my mortgage lender search. Of course, from the first moment I searched the web, rocket mortgage has flooded me ... , Pre-approval. Based on your credit report and information about your employment/income and assets that were reviewed by an underwriter, you can afford a home of a certain amount. Whether you need the additional certainty of a pre-app mostly has to do with your situation and how "weird" it is. The more straightforward your situation, the more ..., A Heloc is a secured line of credit against your house. Think of it like a credit card with better rates, however that rate floats and goes up with the 10 year treasury yield or LIBOR depending on the bank. Banks can shut off the line if things go sour in the housing market. My suggestion is a second mortgage instead. , Rocket mortgage lo’s get paid to issue preapprovals. Think about that. They incentivize shitty preapprovals. As long as the numbers work and dti/cash to close is in spec, theyll issue a letter. Borrowers can apply online with bogus income numbers and get an approval. Plus they charge obscene amount in discount points to get a normal rate., We want to stay in touch, but only in ways you find helpful. If you no longer want to receive marketing or promotional information from Rocket Mortgage, ..., Jan 31, 2024 · You can apply online or give one of our Home Loan Experts a call at (833) 326-6018. 1 Client will be required to pay a 1% down payment, with the ability to pay a maximum of 3%, and Rocket Mortgage will cover an additional 2% of the client’s purchase price as a down payment, or $2,000. Maximum grant amount is $7,000. , For Rocket Mortgage® Clients Impacted By COVID-19. If you’re worried about making your mortgage payments, here’s what you should know: You can find …, No, you will not receive any monetary compensation. That was unlikely before there were shareholders, that's less likely now. If you were going through a broker, they might comp appraisal fee number 2 as a customer service thing, but that's kind of it. They do thousands of refinances a month., Rocket is providing the other 2% of your down payment, so essentially you’re going into it with 3% down. Also, this is for lower income families and individuals, you can’t make more that 80% of the median income in the particular area you are planning to move to. One+ rocket mortgage, But they beat USAA, Navy Fed and a few other lenders we looked at. Secured a 2.25% VA IRRRL, down from our 3.75%. Should cut time of the mortgage repayment as well plan to use the savings toward principal. That or throw the savings into investment accounts. But back to Rocket, great app, and so far my first impression is a positive one. , r/StockMarket - Reddit's Front Page of the Stock Market. Welcome to /r/StockMarket! Our objective is to provide short and mid term trade ideas, market analysis & commentary for active traders and investors. Posts about equities, options, forex, futures, analyst upgrades & downgrades, technical and fundamental analysis, and the stock market in ..., Say you spent $5,000 on your Rocket Visa Signature card and earned 25,000 points. You can redeem these rewards for either: $250 towards closing costs or a down payment with Rocket Mortgage (5% ..., You are correct, one small point of clarification though. My understanding is that Both Wells Fargo and Rocket mortgage continue to service the loans they sell. So is online banking and convinence is important and loan terms are not dramatically different, I would lean towards Wells Fargo or Rocket Mortgage that have strong online banking systems., Aug 2, 2022 ... What matters is what the perception among listing agents is of how good Rocket Mortgage is and the reality is 99% of agents think Rocket ..., View community ranking In the Top 1% of largest communities on Reddit [Official Tournament Discussion] 2023 Rocket Mortgage Classic . Event: Rocket Mortgage Classic Location: Detroit, MI Course: Detroit Golf Club ... not necessarily for the Rocket Mortgage Classic on 4th long weekend. Kinda just assumed I could "watch the final round" aka pass ..., Lender 1 offers a 6.5% rate with 2 points on a $400k loan, that means the home buyer is paying the lender 2% ($8,000) upfront. (FRONT END) Lender 1 will also sell that loan to …, If you’re legally married, both have good credit, and have a significant down payment, your odds are better. Edit: You can go as low as 3.5% down in some circumstances, but traditionally it’s 20-30% down. If you’re able to do 40+% they may make even more exceptions to the work rules. 1. , Rocket has a huge fall out rate from pre-approval to closing. Last I checked it was nearly 75% of the pre-approved buyers didn't close with Rocket. Doesn't mean that the buyer had loan issues - it means it didn't fit into RM's ability to close them either due to their own RM overlays or something else., We didn’t end up using them, but did get a pre approval. We were buying in a very competitive market, and our realtor told us we were putting ourselves at a disadvantage with rocket mortgage, because local lenders are easier to work with and preferred. We ended up getting a better deal from a local lender anyway. 5., 24 hours ago ... What's so bad about rocket mortgage? I'm close to locking in at 6.625% with them, still reviewing other rates from lenders before pulling the ..., There are Glassdoor reviews for Quicken. It is a high stress job in a call center environment (may be WFH due to COVID.) You might be able to make good money but it will be long hours and high stress. I think NEXA is commission only, not 100% sure. I worked at a brokerage and one thing about Quicken, they have a retail side and a wholesale side., Disclosures from Rocket Mortgage indicate that its rates for 30-year fixed-rate mortgages ranged from 2.625% to 6.375% in 2021, averaging 2.93% overall — lower than the national average. For ..., Buying & Selling Homes. Quicken Loans vs. Rocket Mortgage: What You Need To Know. Borrowers comparing Quicken Loans vs. Rocket Mortgage may be …, I would recommend you pass on Rocket Mortgage. Their rates are not competitive and they like to play these games. I purchased a home in 2020, and I tried to get an estimate from them. They also wouldn't give me a loan estimate until later in the process after a purchase contract is signed (which defeats the purpose of getting estimates)., Social Security number. Once you’ve submitted all your information to the lender, expect to receive your loan estimate within 3 business days. Although this may be much shorter if you use an online mortgage lender. The Loan Estimate gives details on the potential cost of the loan and is necessary for preapproval. 2. , Seeking a commercial mortgage loan is a big decision for any business. Businesses get commercial mortgages to grow, expand or save their businesses. Some even use them for real est..., Rocket Mortgage Sold our Loan. My wife and I recently closed on our first house and got our mortgage through Rocket Mortgage/Quicken Loans. When I was shopping for what lender to go with, I specifically asked the Senior Banker Rep at Rocket Mortgage about them possibly selling our loan and she stated they do not sale their loans., Quicken /Rocket has gotten a bad rep because mostly people who have bad experiences come here and complain. I personally use a mortgage broker. Having said that, I think the first lender you have is way over priced. The average I believe is somewhere between the two you have. , But they beat USAA, Navy Fed and a few other lenders we looked at. Secured a 2.25% VA IRRRL, down from our 3.75%. Should cut time of the mortgage repayment as well plan to use the savings toward principal. That or throw the savings into investment accounts. But back to Rocket, great app, and so far my first impression is a positive one. , Not rocket but another online mortgage company, I used better mortgage and they absolutely annihilated the local broker my RE agent recommended in terms of closing costs. Better came out to be roughly 4k less in costs for a very slightly less interest rate and they hit every single deadline needed with room to spare., We used rocket with our VA loan when we refinanced in 2021. No points and they were great to work with. Very responsive. We are locked in at 2.25%. I acquired a Rocket loan through a mortgage broker. No issues so far. Just get the lowest deal/rate.