Rocket Loans are Quicken Personal Loans
Rocket Loans are Quicken personal loans in the sense that the parent company is Quicken Loans. A Quicken personal loan application via a Rocket Loan on their lending platform can get you an unsecured personal loan for a 36 to 60 month term.
Does Quicken do Personal Loans?
Yes. Quicken loans the parent company started issuing personal loans over the lending platform called Rocket Loans. This move was initiated back in the 2016 timeframe and is generally for people with good credit.
What Can Rocket Loans Be Used For?
Rocket loans can be used for all the reasons people use personal loans.
It can be used for Debt consolidation – consolidate debt and credit cards with higher interest rates into one fixed payment.
Home Improvements are another way to use a Quicken personal loan to improve a kitchen or bath and add value to your home. Some people use home equity lines of credit to accomplish this but actually a simple personal loan can’t actually be quicker. It is also unsecured, meaning you don’t have to secure your assets or home to get Quicken personal loans or a Rocket loan.
You can also use it for an auto purchase. When you apply using Quicken personal loan applications, they will determine if you are approved for a Rocket loan. Once approved the money is direct deposited into your account. Then you can take this money and buy a new or used vehicle.
The other reason is for medical expenses. A personal loan through Rocket loans can be used for an upcoming medical procedure or to pay off prior medical expenses and debt.
If you need a small business loan or want to raise working capital it can serve this purpose too. If you have excellent credit it should not be a problem to get a Rocket loan to help grow your small business.
Are There Other Better Online Personal Loan Alternatives?
Rocket Loans are generally for people with good to excellent credit. You could also visit our article on Lending Club personal loans for information on online peer-to-peer loans through Lending Club.
If you do not fall within that category or just want to look at other online alternatives, you should explore other online personal loan options.
One great way to accomplish this is to use a lending network like PersonalLoans.com. You will just fill out one simple form and get the best rate quote from a lender you choose. Just click the apply now button below to get started.
How Much Can I Borrow With Quicken Personal Loans
The average for Quicken personal loans are between $5.000 and $15,000 on average for borrowers. Depending on your credit score and other factors you could get up to $45,000 if you have excellent credit.
The repayment time period on a Rocket loan would be between 3 – 5 years.
Where Can I Apply for Quicken Personal Loans or a Rocket Loan?
You can go to the Rocket Loans website at www.RocketLoans.com If you know you have good to excellent credit you will apply directly on their site. Once you get to the site you will see the drop down menus which will start to ask you questions regarding the category of loan you need and the loan amount. The you will go through the process of filling out the Quicken personal loan applications via your Rocket loan.