Do Quicken Loans charge an origination fee for their loans?

Quicken Loans, which rebranded itself as Rocket Mortgage, typically charges an origination fee for their loans. This fee is part of the closing costs and covers the lender's administrative costs associated with creating, processing, and underwriting the loan. The specific amount of the origination fee can vary based on the loan type and other factors but is usually calculated as a percentage of the total loan amount. For precise figures and current rates, one should consult directly with Rocket Mortgage or review the terms of their lending agreement, since fees and policies may change over time to reflect market conditions and new regulatory requirements.