Rocket Mortgage is a solid choice for those prioritizing customer service and a user-friendly online experience, despite potentially higher interest rates. Better Mortgage may be more appealing to borrowers seeking competitive rates and quick pre-approval, but should be aware of potential issues with loan servicing and communication.
| Attribute | Rocket Mortgage | Better Mortgage |
|---|---|---|
| Interest Rates Offered | Often higher than average, based on Bankrate data from May 2025. | Publishes estimated rates on its website; rates were competitive in 2023, at 0.04 percentage points below the average prime offer rate (APOR). |
| Loan Types Available | Conventional (fixed-rate and adjustable-rate mortgages (ARMs)), FHA loans, VA loans, Jumbo loans (financing up to $2.5 million), Home equity loans, Refinancing options (rate-and-term, cash-out). | Conventional mortgages, Jumbo mortgages, FHA mortgages, VA mortgages, Fannie Mae HomeReady mortgages, Investment property loans, Home equity loans (HELOAN), Home equity line of credit (HELOC), Fixed-rate mortgages, Adjustable-rate mortgages (ARM): 10/1, 7/1, and 5/1 ARMs |
| Minimum Credit Score Requirement | Conventional loans: 620, Jumbo loans: 680, FHA loans: 580, VA loans: 580. | Conventional: 620, FHA: 580, VA: 620, Jumbo: 700, Home equity loans and HELOCs: 680 |
| Down Payment Options | Conventional loans: Typically 3%, but as low as 1% with the ONE+ program (income restrictions apply), Jumbo loans: 10-20%, FHA loans: 3.5%, VA loans: 0% down payment options. | Range from 0% to 10%; Conventional loans typically require at least 3% down; FHA loans offer options with as little as 3.5% down (with a credit score of 580 or higher); VA loans often have 0% down payment options; Jumbo loans typically require at least 10% down. |
| Closing Costs | Include origination fees and rate-lock fees, and can range from 3% - 6% of the loan amount. | Range from 2% to 5% of the loan amount; majority of loans in the past year had closing costs between $1,500 and $5,500. Include loan origination fees, appraisal fees, title searches and title insurance, survey fees, home inspection fees, property taxes, homeowners insurance, and Private Mortgage Insurance (PMI), if applicable. |
| Online Application Process | Fully online mortgage application and streamlined, tech-driven experience. | Offers a fully digital lending experience with a 100% online application process. |
| Customer Service Responsiveness | Above average customer service, with contact options including chat and screen-sharing. | Offers 24/7 customer support. |
| Loan Servicing Quality | Ranked #1 in client satisfaction for mortgage servicing by J.D. Power for 10 years. | Some complaints have been filed with the Consumer Financial Protection Bureau (CFPB) regarding communication and loan servicing. After closing, your loan may be transferred to a different servicer. |
| Pre-approval Speed | Fast and convenient online application; Easy-to-find pre-approval and rate tools. | Basic pre-approval in as little as 3 minutes; verified pre-approval (requiring uploaded financial documents) can take around 20 minutes, with a review time afterward. |
| Refinancing Options | Rate-and-term refinance, Cash-out refinance, FHA Streamline refinance, VA Streamline refinance. | Offers rate-and-term and cash-out refinancing options. |
| Geographic Availability | Available in all U.S. states. | Available in all 50 states and Washington, D.C., but not in Puerto Rico. |
| Appraisal Process | Appraisals are a standard part of the mortgage process to determine the fair market value of the home. | Appraisal fees are part of the closing costs. The appraisal helps confirm the fair market value of your home. |