QUESTION
What are the requirements to qualify for a Rocket Loans personal loan?
ANSWER
To qualify for a Rocket Loans personal loan, an individual generally needs to meet certain criteria. The applicant must have a minimum credit score that is typically in the fair to good range, although the exact score requirement may vary. A stable and verifiable income is also essential to assure the lender of the borrower's ability to repay the loan. Moreover, Rocket Loans will look at the borrower's debt-to-income ratio to ensure it falls within an acceptable limit. The borrower should be a U.S. citizen or permanent resident and at least 18 years old, or the majority age in their state of residence. Lastly, the applicant must hold a valid bank account. Before applying for a loan, one should review the most current requirements on Rocket Loans’ website or contact their customer service, as lending criteria can change over time.
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