What is the process for getting pre-approved by Rocket Mortgage?

Getting pre-approved by Rocket Mortgage, a service provided by Quicken Loans, involves several steps. Initially, one must complete an application through their online platform or mobile app, providing detailed financial information including income, assets, and debts. This information allows Rocket Mortgage to assess the applicant’s creditworthiness and overall financial situation. Next, the system performs a credit check to determine the applicant's credit score. Based on this evaluation, Rocket Mortgage then provides the applicant with a pre-approval letter which outlines the amount they are eligible to borrow. This pre-approval can give homebuyers an advantage in competitive markets as it signifies to sellers that they are serious and financially capable of purchasing a home.