Rocket Mortgage is better for tech-savvy borrowers who value a convenient online experience and quick closing times, despite potentially higher interest rates. UWM is more suitable for borrowers who need a wide range of loan options and are comfortable working with a mortgage broker, but should be aware of potential customer service issues.
| Attribute | Rocket Mortgage | UWM (United Wholesale Mortgage) |
|---|---|---|
| Interest Rates Offered | Rocket Mortgage's interest rates are often higher than the market average. As of July 9, 2025, rates for a 30-year fixed mortgage are around 7.125% APR. Rates can vary based on credit profile, loan amount, and financial situation. | Not available. Contact an affiliated mortgage broker to learn about UWM's wholesale mortgage rates. |
| Loan Types Available | Conventional, FHA, VA, and jumbo loans. Refinancing options like rate-and-term and cash-out refinancing. Does not offer USDA loans, construction loans, or HELOCs. | Conventional, jumbo, FHA, VA, and USDA loans, as well as options for both purchase and refinance. Specialized conventional home loan options, such as low down payment options for first-time homebuyers and high loan balance options. |
| Minimum Credit Score Requirement | Minimum credit score needed to qualify is 580. Conventional loans typically require 620. Jumbo loans require 680. | Generally requires a minimum FICO score of 620 for most of its loan programs. Conventional Elite loans require a FICO score of 700 or higher. |
| Down Payment Options | VA loans have a 0% down payment option. FHA loans require a minimum of 3.5% down. ONE+ program allows for a 1% down payment on conventional loans, with Rocket Mortgage covering an additional 2% as a grant. | VA and USDA loans with no down payment, FHA loans with a minimum 3.5% down, and conventional loans with a minimum 3% down. 1% down payment program where UWM contributes an additional 2% (up to $7,000) towards the down payment. |
| Closing Costs and Fees | Closing costs typically range from 2% to 6% of the loan amount. Charges an origination fee, which can range from 0.5% to 1% of the loan amount. Other fees include application fees (up to $500) and rate-lock fees. | Flat closing fee of $350 and a $68 credit check fee. Specific loan terms and fees can vary based on the product you qualify for. |
| Online Application Process and User Experience | User-friendly online application process. The online platform allows borrowers to apply, upload documents, and track their loan progress. Rocket Mortgage's online platform has a customer rating of 5.0. | Blink+ platform allows brokers to run credit checks, issue e-sign documents, verify assets, and track the loan status. Blink+ is one of the easiest and most secure ways of letting borrowers complete an application. |
| Customer Service Responsiveness and Support | Generally receives above-average scores for customer service. J.D. Power's 2024 U.S. Mortgage Origination Satisfaction Study gave Rocket Mortgage a score of 747 out of 1,000, which is above the industry average of 727. Offers customer support via phone and online chat. | Mixed reviews. Some customers have reported issues managing their loans through the mobile app and making payments, while others have experienced issues with the application, underwriting, and customer service. |
| Loan Processing Speed and Closing Time | Known for its quick loan processing and closing times. The reported average time to close is 15 days faster than the industry average. | Conventional loan turn around time of two days or less. Averages 15 days or less from submission to clear to close (CTC). UClose allows mortgage brokers to close loans within an hour of receiving the clear to close. |
| Pre-approval Process and Strength | Offers a pre-approval process that can be completed online. However, a hard credit check is required to get pre-approved, which may temporarily lower your credit rating. | To begin the loan process, you need to contact a mortgage broker affiliated with the lender. Can provide initial approval on conventional and FHA loans in as little as 15 minutes. |
| Refinancing Options | Provides both rate-and-term and cash-out refinancing options. They also offer FHA streamline refinance for borrowers with existing FHA loans. | Rate-and-term and cash-out refinance options. Cash-out refinance option up to 89.99% LTV with a minimum FICO score of 680. |
| Geographic Availability | Available in all 50 U.S. states and Washington, D.C.. | Lends mortgages across the U.S. |
| Special Programs or Discounts Offered | ONE+ program that allows for a 1% down payment on conventional loans, with Rocket Mortgage covering an additional 2% as a grant. | Conventional 1% Down (UWM contributes 2%, up to $7,000), Conventional Cash-Out 90 (up to 90% LTV with a minimum FICO of 680), Refi75 (75-basis-point rate cut), Govy125 (125-basis-point rate cut for VA IRRRLs and FHA Streamlines), HomeReady & Freddie Mac BorrowSmart Geo-Target (down payment and closing cost assistance in select areas). |