Is Quicken Loans offering a payment deferral option?

As of the last update, Quicken Loans, now rebranded as Rocket Mortgage, has offered payment deferral options to assist homeowners experiencing financial hardships due to circumstances such as the COVID-19 pandemic. Typically, a payment deferral option allows borrowers to postpone monthly payments for a designated period, with the missed payments being added to the end of the loan term. Eligibility criteria and specific terms vary based on current regulations and the borrower's situation. Borrowers interested in such options should directly contact Rocket Mortgage to inquire about current offerings, eligibility, and application procedures as programs and policies may change over time. It's always recommended to discuss the full impact of deferral options on one's loan and personal finances with a qualified advisor or the lender directly.