Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4717206
Complaint Overview
Complaint ID: 4717206
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Florida
ZIP Code: 33702
Date Received: 2021-09-13T12:00:00-05:00
Date Sent to Company: 2021-09-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was working with Rocket Mortgage to secure a loan for the purchase of a new home. I secured a preapproval for {$700000.00} at a 2.7 interest rate and XXXX points with only 11 % down payment. Upon having an accepted offer approximately 1 week after the preapproval, Rocket Mortgage increased the interest rate to 2.99 ( not a problem ) and increases the points to XXXX ( where I have my problem ). To go from XXXX point to XXXX in approximately 1 week felt like an unethical/predatory leaning practice. It appeared as if Rocket Mortgage worked closely with me to understand my needs and financial situation, offered me loan terms are not available else where in the market, waited for me to have a signed contract, and dramatically changed the loan terms from the preapproval that would force me to either pay inflated points or have my financing fall through and I lose my due diligence {$30000.00}. Going from ~ {$3000.00} in points to ~ {$16000.00} in points is beyond the pale. My expectations for filing this complaint is for this governing body to determine if what happened in my case was truly unethical/predatory and handle accordingly.
Frequently Asked Questions
What is Complaint #4717206 about?
Complaint #4717206 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-13T12:00:00-05:00.
How did Rocket Mortgage, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Rocket Mortgage, LLC?
Yes, visit the Rocket Mortgage, LLC company profile at readthecomplaint.com/company/rocket-mortgage-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.