Do Quicken Loans offer debt consolidation services?

Quicken Loans, now known as Rocket Mortgage after a rebrand in 2021, does not specifically offer debt consolidation services as a standalone product. However, homeowners may utilize the equity in their homes to consolidate debt through a cash-out refinance option provided by Rocket Mortgage. This process involves refinancing an existing mortgage for an amount greater than the current loan balance and using the extra funds to pay off other debts, such as credit cards or loans. While this can effectively consolidate debt into a single monthly mortgage payment, it's essential to consider the potential risks and costs associated with using home equity in this manner, as it could lead to higher overall interest payments over the life of the mortgage if not managed properly.