Quicken Loans is one of the largest home-loan providers in America, known for their quick and easy loans. Rocket Mortgage is a DIY loan company that helps you through the process of obtaining a loan without any hassle. In this article, we take a look at how these two companies compare and contrast.
Review of Quicken Loans
Quicken Loans was founded in 1985. Quicken Loans is the second largest mortgage lender in the United States. Quicken Loans is an institution that offers financial services to consumers and businesses, including mortgages and personal loans. In 2015, Quicken Loans had revenues of $13 billion.
Rocket Mortgage is a mortgage broker that can provide you with mortgage options that are generally not available through traditional lenders. The company offers mortgage loans for conventional financing, FHA loans and VA loans, as well as adjustable rates mortgages. Rocket Mortgage also has an online application that allows applicants to get pre-approved for a home loan in just minutes.
Review of Rocket Mortgage
Rocket Mortgage is a mortgage loan origination and servicing company that offers various types of mortgages. The company was founded in 2001, by Mark A. Fridolfs, and it has been around for about 20 years now. Quicken Loans is a personal finance software company that started out in 1983, and the company currently operates many different financial services companies such as checking accounts, savings accounts, brokerage services, and more.
Quicken Loans was started in 1985. Quicken Loans is an online only company that offers a variety of services to its customers including mortgage, home loan, and refinancing loans. Rocket Mortgage offers an alternative type of loan than other companies such as Quicken Loans because it has already been pre-approved by the lender.
Comparison and Contrast
Quicken Loans is a large mortgage lender located in Detroit, Michigan. Rocket Mortgage is a loan program for homeowners who are about to enter the market for their first home purchase. Quicken Loans offers a wide range of mortgage products at competitive rates and has been used by millions of Americans during their lifetime. Rocket Mortgage offers variable interest rates and may help borrowers break into the housing market with ease.
Rocket Mortgage, a Detroit-based direct auto lender was founded in 2012. Quicken Loans is one of the nation’s largest online home mortgage lenders. Rocket Mortgage offers loans by directly contacting dealers to secure financing and has the resources to act quickly on its own time frame. Quicken Loans operates with a much slower rate of speed than Rocket Mortgage does.
Quicken Loans is a company based in the United States that helps people get mortgages. Rocket Mortgage was a mortgage brokerage company that Quicken Loans purchased in 2018. In terms of functionality, Rocket Mortgage offers an easier application process and more flexible loan options.
In conclusion, Quicken Loans and Rocket Mortgage are both lenders. However, the individuals who use these services will experience different features and benefits. Rocket Mortgage users have access to a loan calculator that enables them to easily estimate the interest rates they can expect with each type of loan. Those who use Quicken Loans have options for financing cars or homes with low down payments.