RocketLoans Review

Rating: 4.5 / 5.0

Good for: Bad Credit Loans, Fast Cash, Easy Approval, Personal Loans, Debt Consolidation, Small Loans, Building Credit


RocketLoans founded their business with one goal in mind, get you the money you need when you need it. This single minded focus led them to create one of the fastest loan approval processes. Where most lenders make you wait multiple days to get your money, you can get your loan funded that same day with RocketLoans. They don’t rest on their laurels either. They’re continuously improving their process to keep serving you better. You can’t ask for much more than that.


RocketLoans is an emerging powerhouse lender in the personal loan and debt consolidation loan spaces.

Personal Loans

RocketLoans offers fixed interest rate, unsecured personal loans up to $35,000 depending on your application. Personal loans are some of the lowest risk short term loans you can apply for. This is because your ability to qualify is based on your capability to repay them, not your credit history. On top of that, applying won’t ding your credit either. Most lenders perform soft credit checks to collect financial information so it won’t go against your credit rating like check for a home mortgage or car loan would.

Debt Consolidation Loans

If you have multiple outstanding debts with a variety of interest rates weighing on your finances, a debt consolidation loan might be perfect for you. Like the name implies, a debt consolidation loan takes all of your loans and puts them under one roof so you have one payment and one interest rate to deal with. Basically, it’s exactly like getting a loan for the total amount of your outstanding debts so you can “pay” them off and then make payments on that single loan.

If you have multiple credits cards, financed furniture sets, and/or debts in collections, getting a debt consolidation loan can save you hundreds if not thousands of dollars.


RocketLoans built their business by making their lending process rocket fast. Their loan process is really as simple as 1-2-3. All you have to do is to apply on their website and you’ll have instant, pre-approved offers tailored to your needs with no hidden fees. After that, all you have to do is select which one you want and, in most cases, our loan will be funded so you can have your money within 24 hours!

RocketLoans’ application process is completely online too you can apply whenever and wherever is most convenient for you.


  • Government Issued ID
  • Social Security Card
  • Proof of Residence
  • Proof of Income (Most recent pay stubs)


  • Loan Amount: $2,000 - $35,000
  • Loan Duration: 36 - 60 months
  • Collateral Needed: No
  • Interest Rates: 6% - 30%
  • Minimum Credit Score: Not Listed
  • Approval Time: seconds - ~1 Business Day
  • Loan Deposit Time: ~1 Business Day
  • Late Fees: Yes
  • Insufficient Funds Fees: Yes
  • Origination Fee: Yes


RocketLoans’ application process is a little different than other lenders. Normally, you’d apply and get a decision after a few hours or days, but with RocketLoans, you’re given loan options immediately. You don’t have to wait for the lender to call. You put in your information, click ‘next’, and you have multiple pre-approved loan offers waiting for you to review them. You get to choose how much, for how long, and the interest rate. It’s completely in your hands! After that, you submit your application and RocketLoans will review it.


RocketLoans is quickly becoming one of our favorite lenders. They have an easy to use website that’s user friendly, intuitive, and lets you do the entire loan process online while giving you pre-approved loan offers. This is legitimately something we’ve never seen before. You don’t have to wait for someone to call you back. You don’t have to wait for an email. It’s right in the middle of the application process!

Another thing that we really like about RocketLoans is that they offer personal loans and debt consolidation loans. If you’ve read our reviews of other lenders, you know how we feel about companies that offer high interest, short term loans. (Spoiler alert: they’re predatory and should be regulated into the ground.) Personal loans and debt consolidation loans are far friendlier to borrowers. They’re easy to qualify for, they have lower than average interest rates, they have large loan amounts, and they’re (normally) easier to pay off because of the fixed payment schedule. They’re also becoming immensely more popular because of how much better they are than payday / title loans so you have a ton of lenders to choose from, like RocketLoans.

While they haven’t been around for all that long, they’re not a fly by night lender. They’re actually a sister company of Quicken Loans, that tax software company from the 90’s, and they have a second arm that offers home mortgages (RocketMorgage). There’s always a shred of doubt getting a loan from a non-banking entity, but having a company behind them like Quicken is a huge boon to their legitimacy. There’s never any question that everything is on the up and up. You can rest easy knowing that your info is safe and that the money will show up in your account after signing the dotted line.


In short, RocketLoans is one of the better lenders we’ve reviewed regardless of their services. They have a high ceiling for the amount of money they’re willing to lend, they have competitive interest rates, and very, very few things working against them. Their approval time is (near) instantaneous and you get the money you want when you need it, not a week later. If that wasn’t enough, they have a 9.4 rating (out of 10) on TrustPilot, a 4 star rating (out of 5) on NerdWallet, and a 4.5 rating (out of 5) on Facebook. This warrants a solid recommendation from us.


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