Rocket Mortgage primarily uses credit reports from the three major credit bureaus in the U.S.: Equifax, Experian, and TransUnion. The company typically relies on FICO® Scores, which are widely used in the mortgage industry to assess a borrower’s creditworthiness.
How Rocket Mortgage Uses Credit Reports for Loan Approval
When you apply for a mortgage with Rocket Mortgage, they perform a hard credit inquiry to check your credit history and score. Here’s how it impacts your loan approval:
1. Pulling Credit Scores from All Three Bureaus
Rocket Mortgage uses a tri-merge credit report, which combines data from Equifax, Experian, and TransUnion. However, they take the middle FICO® Score (not the average) when determining eligibility. For example:
- Equifax Score: 720
- Experian Score: 700
- TransUnion Score: 710
👉 The middle score (710) is used for loan approval decisions.
2. Credit Score Requirements for Different Loans
Rocket Mortgage has minimum credit score requirements based on the loan type:
- Conventional Loans – 620+
- FHA Loans – 580+ (or 500 with a 10% down payment)
- VA Loans – 580+
- Jumbo Loans – 680-700+
3. Impact of Your Credit Report on Loan Terms
Your credit score affects your:
✅ Interest rate – Higher scores get lower rates
✅ Loan approval chances – A low score may lead to rejection or require a larger down payment
✅ Private mortgage insurance (PMI) – With a score below 680, PMI costs more
How to Improve Your Credit for Rocket Mortgage Approval
- Check your credit report for errors and dispute inaccuracies
- Pay off debts to lower your debt-to-income ratio (DTI)
- Avoid new credit applications before applying for a mortgage
- Make on-time payments to boost your score
Final Thoughts
Rocket Mortgage evaluates your creditworthiness based on a tri-merge credit report and uses the middle FICO® Score for approval. A higher credit score improves your chances of getting a loan with lower interest rates. If your score is low, consider improving it before applying to secure better mortgage terms.