Find the Best Personal Loans for You
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RocketLoans provides personal loans for many purposes, including:
- Debt consolidation
- Home improvement
- Auto-related expenses, such as maintenance and repairs
- Medical expenses
- Small-business expenses
- Large purchases
- Special occasions, such as a vacation or wedding
RocketLoans personal loans have fixed interest rates. The minimum loan amount is $2,000, and the maximum is $45,000. Borrowers can choose a 36- or 60-month repayment term. RocketLoans offers same-day loan funding for loans up to $25,000.
Borrowers pay no application fee or prepayment penalty. The loan origination fee ranges from 1% to 6%. A $15 late fee applies to payments received past the due date.
RocketLoans requires a minimum credit score of 620, although a score of 680 or better is recommended. The maximum debt-to-income ratio allowed depends on the amount of debt owed, credit score, income and other factors associated with a borrower’s financial profile.
RocketLoans has an A+ rating with the Better Business Bureau.
The RocketLoans application process is completed online. Borrowers can get a preapproval rate quote, then choose their desired loan terms to apply for a loan. Borrowers must allow RocketLoans to validate bank account information. E-signing the loan agreement and providing bank account information for deposit are the final steps.
- People who have a good credit score
- People who prefer an online loan application and funding process
- People who want to receive loan funding quickly