Keep in mind your overall APR will depend on several factors, including your creditworthiness, loan amount, down payment and location. Quicken Loans provides these rates on their website for their more popular loans: Quicken Loans Rocket Mortgage Rates Knowing market mortgage rates helps when evaluating a loan. Here are the mortgage options you can select from through Rocket Mortgage: Understand: 7 Things to Consider Before Paying Off Your Mortgage Early Quicken Loans Rocket Mortgage Loan Options

You can begin the application process for a loan by either applying online with Rocket Mortgage or speaking to a home loan expert on the phone or via online chat. Quicken LoansвЂ™ home loan experts will verify your information as well and grant you a Verified Approval letter within 24 hours of receiving all required documentation. Rocket Mortgage uses Prequalified Approval lettersВ to streamline the process for both borrower and real estate agent, and these documents also let the borrower know how much they can afford. If rates go up, yours remains the same, but if they drop, yours does as well, so at minimum, you wonвЂ™t pay more on a monthly payment. The rate-lock is available for 30-year fixed rate, FHA or VA loans. Using Rocket Mortgage allows you to lock in your rate for up to 90 days using RateShield Approval. Rocket Mortgage also comes with a refinance calculator, an affordability calculatorВ and an amortization calculator, which will show how your principal and interest are paid over the span of the loan. It even recommends a loan based on the parameters you set. The mortgage calculator simply lets you know what your rate will be for multiple loan options based on the homeвЂ™s price, credit score and down payment - keep in mind that putting 20 percent or more toward a home up front will help you avoid purchasing private mortgage insurance. Quicken Loans has four calculators that borrowers can use to map out their payment plans. Read on to see if Quicken LoansвЂ™ mortgage options suit your needs, particularly if youвЂ™re looking to be preapproved for a mortgage. Quicken Loans has been acknowledged multiple times over the last several years as being a prime resource for both mortgage originations and mortgage servicing. Rocket Mortgage, Quicken LoansвЂ™ home mortgage division, has a variety of loan options and tools to assist homebuyers with their purchase or refinancing.

Quicken loans mortgage calculator