Rocket Mortgage vs loanDepot
Side-by-side on rates, fees, and fit — plus quick winners by scenario.
✓Editorially reviewedReviewed by Jordan Lee, CFP®, Senior mortgage analystUpdated April 1, 2026How we make moneyMethodologyAdvertiser disclosure
Best overall
🏆 Rocket Mortgage
Stronger digital flow and broader eligibility.
Best for refinance
🏆 loanDepot
loanDepot's mello smartloan often beats on refi APR.
Best for first-time buyers
🏆 Rocket Mortgage
Better educational tooling and FHA support.
Best for jumbo loans
🏆 loanDepot
loanDepot prices jumbos more aggressively.
Side-by-side
Rocket Mortgage vs loanDepot: full comparison
| Criteria | Rocket Mortgage | loanDepot |
|---|---|---|
| Min. credit score | 620 | 620 |
| Min. down payment | 3% ✓ | 5% |
| 30-yr fixed APR (740 credit) | 6.42% | 6.36% ✓ |
| Origination fee | 0.5–1.0% | 0.5–1.0% |
| FHA / VA loans | Yes | Yes |
| HELOC | No | Yes ✓ |
| Rate lock period | Up to 90 days ✓ | Up to 60 days |
| Avg. close time | 30–35 days ✓ | 33–40 days |
| Branch network | Online only | 200+ branches ✓ |
| BBB rating | A+ | A+ |
Rocket Mortgage is best for
First-time buyers, FHA borrowers, and anyone who values a smooth all-digital experience.
Read full Rocket Mortgage review →loanDepot is best for
Refinancers, jumbo buyers, and borrowers who want both online speed and a local branch.
Read full loanDepot review →Pros & cons
Rocket Mortgage
Pros
- ✓Industry-best digital flow
- ✓90-day rate lock
- ✓Strong FHA support
- ✓Same-day pre-approval
Cons
- ✕No HELOC
- ✕Rates not lowest
- ✕No branches
Pros & cons
loanDepot
Pros
- ✓Better refi pricing
- ✓HELOCs available
- ✓Local branches
- ✓Strong jumbo program
Cons
- ✕Slower close times
- ✕Mixed customer service reviews
- ✕Smaller down payment minimums
Choose by scenario
Which one should you pick?
I'm a first-time buyer with 700 credit
→ Rocket Mortgage
Better FHA path and clearer onboarding.
I'm refinancing with 760 credit
→ loanDepot
Tends to beat Rocket on refi APR by 0.05–0.10%.
I want a HELOC
→ loanDepot
Rocket doesn't offer HELOCs.
I want fastest close
→ Rocket Mortgage
Average 30–35 days vs 33–40 at loanDepot.
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Bottom line
For most readers, Rocket Mortgage is the safer default — but loanDepot wins for best for refinance.
Answers
Frequently asked questions
loanDepot tends to price ~0.05% lower for excellent-credit refinance. For purchase loans at 700 credit they're effectively tied.
Rocket Mortgage. Their FHA flow is more streamlined and they accept lower scores (580 vs 600 at loanDepot).
No. If you need a HELOC, loanDepot is the better pick of the two.
Yes. Both are publicly traded, A+ BBB rated, and licensed in all 50 states.
How we research & score
- •Independently researched by the GeekPenny editorial team
- •Scored against published criteria — never pay-to-play
- •Verified pricing, fees, and terms with primary provider documentation
- •Reviewed for YMYL accuracy before publication
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