Millennials are getting to the age where they may want to start thinking about homebuying. For many folks, that means a lot of questions and a lot of headaches. What home can I afford? Am I getting a good deal? What is the difference between a fixed rate and variable rate mortgage? Thankfully, Quicken Loans has launched Rocket Mortgage to help answer many of these questions and more in the blink of an eye. We’ve liked seen the commercials: ‘Push button, get mortgage.’ Sounds simple, but how does it work?
Rocket Mortgage is an online-only interface that can be accessed via website, iTunes, or Android. Create an account and answer a few questions, securely share your credit and financial information, and customize your mortgage solution based on your specific goals. Within minutes, you’ll receive a real mortgage approval and have the opportunity to negotiate a fair price on your home knowing you’re guaranteed approval. Complete your loan at rocket speed!
Rocket Mortgage offers fixed rate loan terms between 8-30 years and first time home-buyers can access FHA backed loans, loans that allow a down payment as little as 3.5% insured by the Federal Housing Administration.
For more information about Rocket Mortgage, check out their website or jump over to NerdWallet. As always, if you’re looking for more ways to save, invest, or prepare for your financial future follow FinTech Nation on Facebook, Instagram, and Twitter.