What are Rocket Loans personal loans and how do they work?

Rocket Loans personal loans are unsecured installment loans offered by Rocket Loans, a part of the Quicken Loans family of companies. They are designed to meet the financial needs of borrowers for purposes such as debt consolidation, home improvements, auto expenses, or any other large purchases. The way they work is straightforward: applicants can apply online by filling out a form with their personal and financial information. Upon approval—which can be received on the same day—borrowers will be offered various loan options with fixed interest rates and terms typically ranging from 36 to 60 months. Once the loan agreement is signed, funds are disbursed directly into the borrower’s bank account, usually within a short time frame. Throughout the life of the loan, borrowers then make monthly payments until the loan is paid off in full. Rocket Loans prides itself on its simple application process, fast funding, and clear terms without hidden fees.