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Rocket Homes Review

Rocket Homes
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Michael Graw
Jul. 13, 2023
3 min read
Michael Graw
Rocket Homes Summary
Rocket Companies, Inc.—formerly Quicken Loans—runs several companies, including Rocket Homes and Rocket Mortgage. Rocket Homes offers an online platform that helps you buy and sell real estate. Users can access a map of homes for sale, market reports for an area, and can get matched with an agent.

Pros

  • Find homes for sale in your area
  • Large, national, agent network
  • Support by phone and email

Cons

  • No physical branches
  • No closing cost discount when closing with Rocket Mortgage

Rocket Homes has a mobile app that allows buyers to browse house listings, calculate how much house they can afford, and it can even help check their credit score.  For additional help, real estate advisors are available by phone and email.

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Overview

Rocket Homes offers an online platform designed to help you find a home and match you with an agent. The service offers a map of homes for sale in your area as well as city-specific market reports so you can see how prices and buying trends have changed over time. Rocket Homes also offers tools for sellers, including a property report to see how much your home is worth.

The Rocket Homes agent network represents real estate agents throughout the country, in all 50 states. The agents are trained yearly and are regularly vetted to maintain high company standards.

Suitable For?

Rocket Homes is best suited for individuals who want to browse home listings and find vetted agents in the same place. Rocket Homes matches you with an experienced local agent with knowledge of the local market. Rocket Homes is especially useful for those who are just starting out their home search. Their website and app offer a map of listings in your area and reports so you can find out whether you’re in a buyer’s market or a seller’s market. Rocket Home also offers a Home Affordability Calculator to help you determine the price of a home you can afford based on current mortgage rates. There is also a free feature to perform a credit check.

Types of Products

Rocket Homes is a real estate company that matches prospective buyers with local real estate agents all over the country who will guide them to find the best home for their unique needs.

Some special features that Rocket Homes does offer buyers are:

Home Search

A comprehensive and detailed home listing feature allows prospective buyers to find homes based on their specific lifestyles and financial needs.

Housing Market Report

A feature that allows prospective buyers to see the changes in housing trends and conditions over time in specific areas. These insights include median house prices, number of homes sold, neighborhood comparisons, average time on the market, and asking price vs sold price. 

Credit Monitoring

A feature that allows buyers to see their full credit report and credit history over time. The score simulator is a feature on the app which allows buyers to see how changes in financial habits can influence their credit score.

Home Affordability Calculator

A tool that allows clients to find home listings that fit their budget.

Home Route

A tool that guides clients through the steps of the home-buying process

The Application Process

Rocket Mortgage is an online-only lender with no physical branches. Its application process is highly streamlined and easy to use, which is one of the reasons Rocket Mortgage is currently the largest mortgage lender in the United States. Here is the application process in a nutshell:

  1. Online Application Form. Begin by filling out the online application form on Rocket Mortgage’s website. The form requests basic personal information, then runs a soft credit check, which does not affect your credit score.
  2. Decide. Rocket Mortgage’s automated system will now review your income, debts, net worth, and credit score based on the numbers you entered into the application and your soft credit check. Based on this information, you can decide how much you can afford. 
    • If you do not have a realtor, Rocket Homes can partner you with a vetted realtor that operates in your area. To pass Rocket Homes’ vetting process, a realtor must:

      Work for an eligible Brokerage.

      Have 2+ years of experience as a full-time real estate agent.

      Have a minimum of 8 closed transactions in the last 12 months.

      Demonstrate strong communication skills and urgency when responding to clients.

      Maintain a client satisfaction rating of 4.5/5 stars or more.

      Complete Rocket Homes’ Verified Partner Agent course and assessment annually.

  3. At this stage, you can work with your realtor to find a home you like that falls in your price range. You can also conduct some of your own research using Rocket Homes’ Housing Market Report and MLS listings search tool.

Help & Support

You can get in touch with Rocket Homes customer support via web contact form, telephone, or email. Unfortunately, Rocket does not publicize the hours for Rocket Homes’ customer service channels.

Summary

Rocket Homes features an impressive collection of learning resources backed by decades of market data. Some notable tools include the Home Value Calculator, Housing Market Reports, MLS Listings Search, and the Rocket Learning Center. If you need a realtor or require home financing, consider the Rocket Mortgage Family of Companies, with its informative website and decades of industry experience.

FAQs

Where can Rocket Homes help me find a home?

Rocket Homes can help you find a home in all 50 states.

Is Rocket Homes the same as Rocket Mortgage?

No. Rocket Homes and Rocket Mortgage are sister companies. Rocket Homes help you find a home and connect with an agent, while Rocket Mortgage originates loans.

Physical Address

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Rocket Homes Rocket Homes Visit Rocket Homes

Methodology

This review was completed using information from the Rocket Homes and Rocket Mortgage websites and by testing the Rocket Mortgage online application.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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