Rocket mortgage is a fast, powerful and completely online way to get a mortgage for refinancing or buying a home, designed by Quicken Loans.
Since Rocket Mortgage is an online platform where you can apply and manage your mortgage, you can also make your payments online using the platform. Rocket
What’s Included In Your Monthly Payment
Payments calculator shows that your monthly mortgage payment comprises of principal and interest. That is, the principal portion will go to paying off the total amount you’ve borrowed, whereas, the interest is the percentage of the amount borrowed that you pay to your lender.
For many homeowners, the monthly Rocket Mortgage payments include more than just principal and interest. Sometimes, it includes property taxes and homeowners’ insurance premiums if they have an escrow account with their loan. Meanwhile, the escrow account allows you to pay for your taxes and insurance premiums as part of your monthly Rocket Mortgage payments.
Additionally, if the neighbourhood where you are buying a home includes a homeowners association (HOA), then you may as well add your HOA fees into your monthly payment budget. However, the HOA fees probably won’t count as the part of your mortgage payment.
How to Make Rocket Mortgage Payments
Since updating the Rocket Mortgage website, things may look a little different for the users, but the good thing is that the payment process still remains the same. Below are the options available for you to make your Rocket Mortgage payments;
To make your payments online, kindly sign in to your Rocket Mortgage account. You can create one if you have not done that already. When signed in, proceed to Make A Payment. Follow the on-screen instructions to make your payment online.
Moreover, if your account is not eligible for online payments yet, you can call an Account Advisor at:
(800) 508-0944: Available Monday – Friday, 8:30 a.m. – 9:00 p.m. ET. Saturday, 9:00 a.m. – 4:00 p.m. ET.
If you have your account set up to an autopay or automatic withdrawal, nothing has changed. You can edit, cancel or change payments from the Payment Center. More so, you can still set up your account to autopay or automatic withdrawal if you haven’t done so.
Payment by Mail
You can equally make your Rocket Mortgage payments to the following mail;
P.O. Box 6577
Carol Stream, IL 60197-6577.
In summary, the amount you pay is dependent on the mortgage rates, which can change daily based on market trends. To make your mortgage payments using Rocket Mortgage is quick and easy since everything is done online and it’s available 24 hours a day, 7 days a week!
Have any question? Feel free to use our comment section below!