Is Rocket Loans the best loan provider that will fit your needs? With so many lenders on the market, you might find it challenging to choose the right one. When making a final choice, compare the pros and cons and see if they are the right fit. The Rocket Loans Personal Loans Reviews on Bricta explained more about the service and its benefits. Are they the best loan provider on the marketplace? Read on and find out more!
Advantages and disadvantages
According to Rocket Loans Personal Loans Reviews, one of the best advantages is that you can receive the money on the same day. If you complete the application process by 1 pm, you can have access to the funds immediately. This is especially important if you have an emergency to be solved straight away.
- Same day funding.
- Easy application. Compared to other lenders, Rocket Loans has a pretty straightforward application process.
- Soft credit check. The credit check performed by RocketLoans won’t have an impact on your credit score.
- There are no prepayment fees.
- There is no option to include co-signers.
- You need to pay an origination fee.
- 15$ late payment fee if you fail to make the payment on time.
In the Rocket Loans Personal Loans Reviews, Bricta states that the lender takes a fee of the borrowed amount. This ranges from 1 to 6 percent and is taken from the amount before transferring to your account. However, keep in mind that you can get a discount if you sign up for automatic payments. This is an excellent way to save up some money and ensure that all payments are made on time.
Another great feature is the pay off the loan at any time, without facing additional fees. This is an excellent feature if you plan on paying off the debt sooner. To assess your eligibility for a loan, this lender will check a few details such as credit score, current income, your debt-to-income ratio, and whether you own a house or not. Rocket Loans is a suitable lender, but you should have terms and conditions on your mind before proceeding to your application.