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Why Rocket Loans Should Be Your Personal Loan Choice

Kevin Graham2-minute read
PUBLISHED: September 13, 2023


Whether you’re doing a home improvement project, consolidating debt, getting some money together to start a new business or anything else, a personal loan is one of the most versatile funding options out there. When reviewing personal loan providers, you have many choices. Here’s why you should give Rocket Loans a good look.

Getting a personal loan has never been easier.

The Rocket LoansSM application process makes borrowing simple.

The Benefits Of Working With Rocket Loans

Working with Rocket Loans on your personal loan offers several advantages.

No Prepayment Fees

When you get any loan, a good goal to set is to pay it off as quickly as you can without sacrificing financial security or other long-term goals. The faster you can pay your loan off, the less interest you end up paying overall.

Personal loan providers know this, too. Some lenders charge a prepayment penalty to discourage you from paying off early. Rocket Loans has no prepayment penalty. In fact, we don’t believe in any hidden fees and we publish our fee schedule online.

Rapid Funding

Life moves fast, and you want to be able to seize opportunities while you have them. If we can verify your information electronically and your banking allows, we can fund your loan as quickly as the same day.1 There’s no sense putting everything on hold waiting for a check to clear when you need funds for that bathroom remodel now.

Rate Discount With Autopay

Autopay is great for personal loan providers because it helps us know your payment won’t be missed based on a simple oversight. However, we also recognize that you’re giving us a lot of trust by letting us automatically pull from your account. You ought to be compensated for that trust.

Rocket Loans offers an autopay discount of 0.3%, a larger discount than our competitors.2

See Your Offers

When you apply for a personal loan, it’s not just an investment of money and time. When you’re shopping around, checking your options can lead to a credit check, temporarily lowering your credit score. It can have a larger effect if you’re looking at several different personal loan providers.

At Rocket Loans, we believe you shouldn’t be penalized for working to get the best deal for yourself. We first utilize a soft credit check, meaning you can check your options without having to worry about a drop in your FICO® Score. We only do a hard credit inquiry at the very end of the application process.

The Bottom Line

When you’re shopping for anything, value is a top consideration. It means more convenience with less fees in the form of no prepayment penalty and rapid funding. Consider the rate discount you receive with autopay and prequalification with a soft credit check.

If you’re ready to move forward, you can apply online today!

1Same Day Funding available for clients completing the loan process and signing the Promissory Note by 1:00 PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.

2Autopay must be selected as your repayment method at the time your loan closes in order to receive the rate discount. Discount cannot be retroactively applied to previously closed loans.

Getting a personal loan has never been easier.

The Rocket LoansSM application process makes borrowing simple.

Kevin Graham

Kevin Graham is a Senior Blog Writer for Rocket Companies. He specializes in economics, mortgage qualification and personal finance topics. As someone with cerebral palsy spastic quadriplegia that requires the use of a wheelchair, he also takes on articles around modifying your home for physical challenges and smart home tech. Kevin has a BA in Journalism from Oakland University. Prior to joining Rocket Mortgage he freelanced for various newspapers in the Metro Detroit area.