Featured
Home Equity Loan
Fixed-rate lump sum from your equity.
$45K–$500K · Fixed rate · 10 or 20-year term
- Keep your existing first-mortgage rate
- Fixed monthly payment for the full term
- Soft-pull prequalification
- Online application + e-close
Best Big Brand
Rocket Mortgage Home Equity Loan Review: The most-recognized name in U.S. mortgages.
Rocket Mortgage's Home Equity Loan offers $45K–$500K fixed-rate lump sums, fully online from prequal to close — backed by the #1 mortgage brand in the country.
PickYourBank Rating
9.4/ 10
Excellent
9.4
Overall
9.7
Rate
9.6
Fees
9.0
App
9.1
Service
$500K
Max loan
Fixed
Rate
Days
Funding speed
NMLS
#3030
What is Rocket Mortgage?
The largest mortgage originator in the U.S.
Rocket Mortgage (parent of Quicken Loans) is the largest U.S. mortgage originator with $300B+ in annual volume and millions of customers served.
Their Home Equity Loan is built on the same fully-online infrastructure that made Rocket famous in refinancing.
Founded
—
HQ
U.S.
Charter
FDIC-insured
Reach
Nationwide
Tap home equity
Access cash without refinancing your primary mortgage
Fast funding
From application to funded in days, not months
No hidden fees
Transparent pricing — see every fee upfront
Flexible options
HELOC, HELoan or shared-equity — pick what fits
The Rocket Mortgage lineup
Built around what matters most.
Here's what Rocket Mortgage offers and who each product is best for.
The honest verdict
Pros & cons — no spin
What we love
- Most recognized mortgage brand in the U.S.
- Fully online application + e-close
- Fixed rate locks in payment
- Backed by Rocket Companies' scale
Worth knowing
- Lump-sum loan only (no HELOC option)
- Minimum equity / credit / DTI thresholds
- Closing costs apply
Getting started
Open a Rocket Mortgage account in under 5 minutes
Step 1
Check your offer
Quick prequalification with a soft credit pull — no impact on your score.
Step 2
Submit your application
Verify income, property and equity. Most apps take 10–15 minutes.
Step 3
Appraisal & underwriting
An automated or in-home appraisal confirms your property value.
Step 4
Close & get funded
E-sign closing docs and receive funds in days, not weeks.
Rocket Mortgage FAQ
Common questions, clear answers
Is Rocket Mortgage legitimate?
Yes. Rocket Mortgage is a licensed lender (or licensed marketplace) operating in the United States, subject to federal and state lending regulations.
Will checking my rate hurt my credit?
No. Prequalification uses a soft credit pull that does not affect your score. A hard pull only happens if you proceed with a full application.
How fast can I get funded?
Most borrowers see funds within 5–14 days of approval, depending on the product (HELOC, HELoan, or shared-equity agreement) and your state.
What can I use the money for?
Anything — debt consolidation, home renovations, college tuition, or a major purchase. There are typically no restrictions on how you use the proceeds.
Are there fees?
Most products have closing costs (origination, appraisal, recording). The exact fee schedule is disclosed upfront before you sign anything.
Big brand, modern process
Rocket Mortgage brings its scale and online process to home equity — a great choice if you want a brand-name lender with a digital experience.
Advertiser disclosure: PickYourBank.com may receive compensation when you open an account through our links. This never influences our ratings or recommendations.
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