Rocket loans Personal Loan Review 2022 | Get $50,000 No credit check Personal loan

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Rocket loans Overview

Rocket loans offer personal loans from $2,000 to $45,000 to borrowers who have bad or fair credit. RocketLoans offers personal loans to qualified borrowers in all 50 states. these loans are for debt consolidation, home improvements, medical expenses, and big business purchases.

At rocket loan, you will get some best features like same-day funding is available for up to $25,000. There is no prepayment penalty and the process is completely online.

Pros

  • Loan amount starting from $2,000-$45,000.
  • Soft Pull Credit check is available
  • Rocket loans offers no pre-payment panalty
  • Rocket loans offers rate discount for autopay. alertSuccess}

Cons 
  • Rocket loans do charges an origination fees 1 – 6%
  • Rocket loans does not offer direct payment to creditors with debt consolidation loans.
  • No option to choose or change your payment date and  No co-sign, joint or secured loan option.  {alertError}

 

Can Be Used as Debt Consolidation Loan

Rocket loans offer personal loans for many purposes such as debt consolidation, home improvements, and big purchases. So if you are looking for a big loan amount then Rocket loans can be the best option for you if you have a bad credit score.

Annual Interest Rate and Fees

Rocket loans come with an APR ( Annual Percentage Rate ) of 5.97% – 29.69%. Which will depend upon your credit score and your creditworthiness.

Minimum Credit Score Required

At Rocket loans, they don’t ask for such a specific credit score but from research, you can get personal loan approval if you have a credit score of a minimum of 640. It is not stated by rocketloans.com it is based on the customer reviews on the internet.  

Offered Loan Amount

Rocket loans offer personal loans within the range of  $2,000-$45,000. Also, there is some catch if you want same-day funding then you can get it up to $25000. 

Eligibility Criteria 

There are some basic requirements you should fulfill before taking a bad credit loan. Here is the list :
  1. You should be at least 18 years old
  2. You must be a United States citizen or have a US Visa
  3. You must have a valid active US bank checking account
  4. You have to provide a valid email address and a phone number

Required Documents

  • Valid Identity Proof, VIsa
  • Have to provide a DOB.
  • Valid current mobile number and Email id.
  • An active American bank account.

Repayments Terms

The payment payback period is up to 60 months which is 5 years. You can repay your loan within 5 years and also you can repay your loan early and you don’t have to give a pre-payment penalty. 

Example of the Rocket loans loan

A three-year, $12,000 loan with a 20.5% APR would cost $449 in monthly payments. You’d pay $4,165 in total interest on that loan.

Apply for Rocket loans :

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Editorial Note:  MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}

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