Rocket Mortgage vs loanDepot: What Each Publishes, and When a Point Pays Off
Neither lender posts a rate you can rely on. So the useful comparison is what each says in writing, and how to test any offer with a payment and a points calculation.
Our take (checked Nov 2026)
On published terms we cannot name a winner, and you should distrust anyone who does. Neither lender publishes a rate that applies to you, and loan pricing depends on your file. What we can compare is smaller. loanDepot publishes a license number, says it is licensed in all 50 states, and offers a limited 'Lifetime Guarantee' that waives lender and appraisal fees on eligible future refinances [3]. Rocket's site blocked our automated check, so we could read Rocket only through search excerpts. Those show FHA, VA, conventional and jumbo loans [4] and give conflicting statements about minimum credit scores [4][6]. Choose loanDepot for a closer look if a possible future refinance with fee waivers matters to you and you read the conditions. Choose Rocket for a quote if you want to compare a large national lender's offer on the same loan, and ask what credit score it needs today. Skip both if you cannot get a written Loan Estimate from each. The CFPB advises requesting estimates from several lenders for the same loan type [2]. The deciding number is the total cost over the years you will keep the loan, not the brand.
| Rocket Mortgage | loanDepot | |
|---|---|---|
| Loan types named | FHA, VA, conventional, jumbo (from search excerpt; page blocked automated fetch) [4] | Fixed-rate (30- and 15-year), adjustable-rate, FHA, VA, jumbo, renovation, rate-and-term refinance, cash-out refinance, home equity [3] |
| License number (NMLS) | Not verified; site blocked our check | NMLS #174457, with a link to NMLS Consumer Access [3] |
| States | Not verified | Licensed mortgage lender in all 50 states; some home equity products vary by state; Texas follows its own loan structure [3] |
| Minimum credit score | Pages disagree: one excerpt says 620 conventional and 580 FHA/VA; another says Fannie Mae and Freddie Mac dropped a minimum threshold in November 2025 [4][6] | Not published [3] |
| Down payment | FHA as low as 3.5%; VA 0% (from search excerpt) [4] | VA 'zero down payment options' for eligible borrowers; other minimums Not published [3] |
| Down payment assistance | Does not offer its own; says it accepts assistance from other institutions [5] | Not published [3] |
| Fee statements | Not verified | No cost to check options; an application and/or appraisal fee may apply if you proceed [3] |
| Rates | Not published as a rate that applies to you | Not published as a rate that applies to you [3] |
Which of them will quote the loan you actually need?
Start with the product, not the brand. A first-time buyer using FHA, a veteran using VA and a buyer needing a jumbo loan can get very different pricing from the same lender. loanDepot lists FHA, VA, jumbo and renovation loans on its home page [3]. The excerpts we could read from Rocket list FHA, VA, conventional and jumbo [4].
Neither list tells you whether a given loan fits your property, income or credit. Treat the lists as a menu, not an eligibility test. Do not infer a minimum credit score from a marketing page. loanDepot publishes none [3], and Rocket's own pages do not agree with each other [4][6]. Ask each lender for its current minimum for your loan type in writing.
What can you verify about each company?
loanDepot shows NMLS #174457 and links to NMLS Consumer Access [3]. That is the public registry where you can check a lender's licenses and any recorded actions. We could not read Rocket's license page, so we do not state Rocket's number here. Look it up yourself before you share documents.
Marketing awards and review counts tell you little about the loan on your file. We leave them out.
What does the one concrete fee promise say?
loanDepot's 'Lifetime Guarantee' says you pay $0 in lender and appraisal fees on eligible future refinances [3]. Read the limits. It applies to refinancing a loan loanDepot originated on the same property, for a borrower who received the certificate. It is non-transferable. It does not apply to a new purchase, a new lien such as a home equity loan, renovation loans, or loans arranged through third parties [3].
So it lowers some fees on a later refinance. It does not lower the interest rate, and third-party costs such as title may still apply. We found no matching promise on Rocket's pages we could read.
How do points change the choice?
The CFPB says points lower your interest rate in exchange for paying more at closing, and one point equals one percent of the loan amount [1]. The rate cut per point varies by lender, loan type and market [1]. Lender credits work the other way. They lower closing costs now in exchange for a higher rate [1].
The CFPB suggests asking for options with and without points, then comparing total cost over the shortest, longest and most likely time you will keep the loan [1]. That is the test used in the example below.
How should you compare the two offers side by side?
Ask both lenders for a Loan Estimate for the same loan type [2]. The CFPB calls the APR one measure of cost, not the only one, and says to compare origination charges and the total [2]. Line up four items: the note rate, the points or credits, the cash needed to close, and the monthly principal and interest. Then run the horizon test.
Worked example
Worked example: does one point on a $300,000 loan pay off?
Inputs
- Loan: $300,000, 30-year fixed, 360 monthly payments, principal and interest only (no taxes or insurance).
- Option 1: no points, 6.50% (assumed).
- Option 2: one point, which is 1% x $300,000 = $3,000 at closing [1], with a 6.25% rate (assumed). The size of the cut varies by lender [1], so this is an illustration, not a quote from Rocket or loanDepot.
- Payment formula: P = L x r / (1 - (1 + r)^-n), with r = annual rate / 12 and n = 360. Rounded to the cent.
Steps
- Option 1: r = 0.065 / 12 = 0.0054167. P = $1,896.20 per month.
- Option 2: r = 0.0625 / 12 = 0.0052083. P = $1,847.15 per month.
- Monthly saving = $1,896.20 - $1,847.15 = $49.05.
- Break-even = $3,000 / $49.05 = 61.2 months, or about 5 years and 1 month.
- Cash paid in 5 years (60 payments): Option 1 = 60 x $1,896.20 = $113,772.00. Option 2 = $3,000 + 60 x $1,847.15 = $113,829.00. Option 2 is $57.00 higher.
- Cash paid in 10 years (120 payments): Option 1 = $227,544.00. Option 2 = $3,000 + $221,658.00 = $224,658.00. Option 2 is $2,886.00 lower.
Result: The point costs $3,000 and recovers it after about 61 months. If you keep the loan 10 years, you pay about $2,886 less in cash with the point.
If you sell or refinance in under five years, the point loses money. If you keep the loan well past five years, it wins. The cash view slightly understates the point's value, because the lower rate also pays down a little more principal. It ignores taxes and what else you could do with the $3,000. If a lender's lower rate needs a point, use this test on each lender's actual numbers.
Risks and limits
- Rates, fees and credit-score rules change often. Recheck before you decide.
- We could not read Rocket's own pages directly. Items marked 'from search excerpt' should be confirmed on Rocket's site.
- A fee waiver on a future refinance helps only if you refinance with the same lender and meet its conditions [3].
- Points only pay off if you keep the loan past the break-even point [1].
- A lower payment from a longer term or a lower rate does not always mean lower total cost [2].
- Educational comparison, not financial advice. ClearValue is not a lender or broker.
Frequently asked
How do loanDepot and Rocket Mortgage compare on licensing?
loanDepot lists its own NMLS number, #174457, and links to NMLS Consumer Access [3]. We could not verify Rocket's number from its site, so look up both companies on NMLS Consumer Access.
Which has lower mortgage rates, Rocket or loanDepot?
Neither publishes a rate that applies to you. The CFPB says to get a Loan Estimate from each lender for the same loan type and compare [2].
What is loanDepot's Lifetime Guarantee?
It waives lender and appraisal fees on eligible future refinances of a loanDepot loan on the same property, with conditions and exclusions [3].
Does Rocket Mortgage offer down payment assistance?
Rocket says it does not offer its own programs but accepts assistance from other institutions [5].
When is buying a mortgage point worth it?
When you will keep the loan longer than the break-even time, which is the point cost divided by the monthly payment saving [1]. In our example it was about 61 months.
Educational comparison. Terms depend on the lender.
See ClearValue's mortgage guidesRelated guides
Sources
- [1] CFPB — What are discount points and lender credits and how do they work? — checked
- [2] CFPB — Loan Estimate — checked
- [3] loanDepot — home page and Lifetime Guarantee disclosure — checked
- [4] Rocket Mortgage — Home loans and mortgage options (search excerpt; direct fetch returned HTTP 403) — checked
- [5] Rocket Mortgage — Down payment assistance (search excerpt; direct fetch returned HTTP 403) — checked
- [6] Rocket Mortgage — Relocating with a low down payment (search excerpt; direct fetch returned HTTP 403) — checked