Rocket Loans Review

Rocket Loans is part of the Quicken Loans family, which was established back in 1985. Headquartered in Detroit, Rocket Loans aims to offer a quick and easy online personal loan and mortgage process that is unencumbered by the excess paperwork and minutiae required by traditional lenders.

In terms of their personal loans, Rocket Loans has an online application process that never requires you to step foot into a bank. They also promise a “rocket fast” decision as well as quick access to your loan funds once you’re approved.

If you’re in the market for a personal loan, need money fast, and want to complete the entire process online, Rocket Loans could be the lender for you. Keep reading to learn about the loans they offer and who they’re best for.

Rocket Loans: Key Takeaways

• Borrow between $2,000 and $45,000 for home improvements, debt consolidation, or any other reason.
• Interest rates range between 5.98% and 29.99%.
• Repay your loan over 36 or 60 months.
• Pay an origination fee of up to 6% of your loan amount.
• Rocket Loans come with no prepayment penalties or hidden fees.
• Get pre-qualified for a personal loan without a hard inquiry on your credit report.

Rocket Loans Review: Easy Personal Loans for Borrowers with Good Credit

Where you once had to visit a local bank or credit union to take out any type of loan, the internet has ushered in a world of options that are infinitely more convenient. You can apply for a mortgage and complete the entire process without ever leaving your home these days. And the same is true for personal loans — you can apply, submit all your information, and receive your loan funds directly in your bank account without waiting in line or speaking to a single soul.

Rocket Loans focuses their efforts on making mortgages and personal loans easy to access and apply for. Their online application process lets you enter your information online and receive a response almost right away, then get your personal loan funded without ever visiting a bank.

In addition to the convenience factor, Rocket Loans lets you borrow more than most personal lenders — up to $45,000. They also let you repay your loan over 36 or 60 months depending on your goals. Interest rates on Rocket Loans can span between 5.98% and 29.99% APR depending on your creditworthiness, and they come with no hidden fees.

In summary, Rocket Loans offers an easy personal loan that makes getting access to the money you need a piece of cake. And if you have excellent credit and a high income, you may have no trouble qualifying for a loan with the best rates and terms.

Rocket Loans: What to Watch Out For

Borrowing up to $45,000 to consolidate high-interest debt or finance a major home remodeling project can be a savvy move, but there are certain factors you should be aware of before you take out a loan with Rocket Loans. For starters, Rocket Loans does charge an origination fee of up to 6% of your loan amount. This fee bumps up the cost of your loan over the long haul. Not only that, but there are several personal loan companies that offer personal loans without an origination fee or any other fees.

Also note that interest rates on Rocket Loans personal loans can be rather high. Consumers that can qualify for their lowest rates may get an affordable loan through this company, but bad credit borrowers who are forced to pay up to 29.99% APR on their personal loans could be getting the short end of the stick.

Finally, Rocket Loans lists a minimum income of $40,000 and a minimum credit score of 640 to qualify for their personal loans. If you’re not earning a lot of money during this phase of your life or your credit is on the poor side, you may not be able to qualify.

Who Rocket Loans Personal Loans are Best For:

• Consumers with good or great credit who can qualify for their lowest interest rates and best terms.
• Anyone who needs to borrow up to $45,000 and repay it over up to five years.
• Borrowers who want to apply for a loan online and get their money automatically deposited into their bank account.

How We Rate Rocket Loans Personal Loans

At The Simple Dollar, we aim to provide a general overview of a lender’s products and services through a standard rating process. After a thorough research and discovery period, here’s how Rocket Loans stacks up:

Rocket Loans Personal Loans at a Glance
Overall Rating	Affordability (interest rates, fees, and terms)
	Availability (credit requirements, geographic reach)
	Ease of Use
	Transparency

How to Apply for a Personal Loan from Rocket Loans

One big benefit of Rocket Loans is the fact they allow you to get “pre-qualified” for one of their loans without a hard inquiry on your credit report. To complete this process and see some specifics on the loan you’ll qualify for, you should plan on providing:

• Your full name
• Current address
• Income information
• Social Security number
• Date of birth

Once you’re pre-qualified, you’ll have the opportunity to look over a selection of loans with different terms and rates. If you decide to move forward, you can do so by providing additional information to complete your loan application. This may include your bank account information, pay stubs, driver’s license, tax forms, and other pertinent details that help you prove your identity and income.

If you agree to all the terms of the loan you’re ultimately approved for, Rocket Loans will start the process to complete the final approval phase for your loan. They also state that, in some cases, you can receive your money in your bank account as soon as the same business day.

The Bottom Line

The decision to borrow money is never an easy one, but there are times when a personal loan can make sense. If you’re able to consolidate high-interest debt at a much lower interest rate, for example, a personal loan could easily save you thousands of dollars. And let’s not forget that personal loans tend to be considerably more affordable than credit cards when it comes to financing a wedding, a home remodeling project, or any other big goal.

Still, it’s important to shop around for loans to ensure you get the best deal. Get pre-qualified with Rocket Loans to see what they offer, but don’t be afraid to compare loans from other lenders.

Related Articles: 

• Best Personal Loans
• Six Personal Loan Myths Dispelled
• When Does It Make Sense to Refinance or Consolidate Your Student Loans?
• Should You Use a Personal Loan to Pay Off Credit Card Debt?

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BBVA Compass Personal Loans Review

BBVA Compass offers an array of personal and business banking solutions for individuals, commercial customers, and corporations. On the consumer side of the spectrum, their offerings include mortgages, home equity loans, auto loans, and personal loans.

Their personal loan offering — the BBVA Compass Express Personal Loan — is an extremely popular option on the market, partly because it’s possible to get your funds as soon as the same business day. BBVA Compass also offers some of the lowest interest rates available anywhere if you link your account with a BBVA Compass checking account, and there are no hidden fees or prepayment penalties.

BBVA Compass Personal Loans: Key Takeaways

• Get a fixed APR between 4.99% and 28.99% with auto-debit from a BBVA Compass checking account.
• Borrow up to $100,000, or up to $35,000 with an online reservation code.
• Repay your loan over 12 to 72 months.
• Get pre-qualified for a personal loan without a hard inquiry on your credit report.

BBVA Compass Personal Loans: Low-Cost Loans Perfect for BBVA Compass Customers

If you’re in the market for a personal loan and already have a checking account with BBVA Compass, it would be difficult to find a better offer than with your own bank. BBVA Compass extends interest rates as low as 4.99% APR to their checking account customers who sign up for automatic payments. Of course, you’ll need good or excellent credit and a sufficient income to qualify for such a low rate. If you don’t qualify for their lowest rate, you’ll get a one-percentage-point rate discount for being a BBVA Compass checking account customer.

Another benefit of BBVA Compass is the fact you can borrow up to $100,000 if you apply in a physical branch. That’s considerably more than most personal lenders offer consumers, and there are no collateral requirements for these loans. We also like the fact you can repay your BBVA Compass personal loan for up to 72 months. This is longer than many competing lenders who only offer loan terms for up to 48 or 60 months.

BBVA Compass doesn’t list a minimum credit score requirement for their loans, nor do they list a minimum income requirement. Fortunately, they do let you get pre-qualified for one of their loans without a hard inquiry on your credit report. This makes it possible to gauge your ability to receive the funds you need without moving forward with a full loan application.

Here’s an example of how a BBVA Compass personal loan might look for qualified borrowers:

BBVA Compass Personal Loans: What to Watch Out For

The biggest downside of BBVA Compass is the fact that their personal loans can only be accessed online if you have a reservation code from the bank. Even then, you can only borrow up to $35,000 through their online loan application process. If your borrowing needs are greater than that, you’ll need to apply for your personal loan in a physical bank branch.

Unfortunately, BBVA Compass only offers branches in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. This makes BBVA Compass an unlikely option for most people who live in the United states — unless they receive a reservation code in the mail.

Another downside of BBVA Compass is the fact that they charge a surcharge on their personal loans. Similar to an origination fee, this surcharge is unavoidable and charged based on your loan amount. For loans up to $9,999, you’ll pay a surcharge of $60. For loan amounts of $10,000 or more, the surcharge jumps to $120.

Who BBVA Compass Personal Loans are Best For:

• BBVA Compass customers who already have a checking account with the bank.
• Anyone who lives in a state that is serviced by BBVA Compass already.
• Consumers who need to borrow up to $100,000 via a personal loan.

How We Rate BBVA Compass

At The Simple Dollar, we aim to provide a general overview of a lender’s products and services through a standard rating process. After a thorough research and discovery period, here’s how BBVA Compass stacks up:

BBVA Compass Personal Loans at a Glance
Overall Rating	Affordability (interest rates, fees, and terms)
	Availability (credit requirements, geographic reach)
	Ease of Use
	Transparency

How to Apply for a Personal Loan from BBVA Compass

You can apply for a personal loan from BBVA Compass over the phone or in a physical branch at any time, but you’ll need a reservation code to apply for one of their loans online. Once you get access to a BBVA Compass reservation code, you have the option to get pre-qualified for a loan without a hard inquiry on your credit report. To do so, you’ll need to provide:

• Your Social Security number
• Your birthdate
• Desired loan amount
• Income information
• Employment details

Once you submit the above information, BBVA Compass will look over your details and determine whether you’re a good candidate for one of their loan options. If you have what it takes to qualify, they’ll send you information on the amount of money you’re able to borrow, your interest rate, and other loan terms.

If you decide to move forward, BBVA Compass may require additional information to prove your income, employment, and other personal details. Once you’re approved for your loan, it’s possible to get your funds as soon as the same business day.

The Bottom Line

BBVA Compass personal loans may be one of the lowest cost options available, but their geographic reach is severely limited and their best terms only go to BBVA Compass checking account customers. Also note that, even if you want to apply online, you can’t do so unless you get your hands on a reservation code.

Unless you’re a BBVA Compass customer already or you live near one of their bank branches in a state they service, it’s unlikely this lender will be ideal for your needs. Either way, it’s smart to shop around for personal loans with at least three or four lenders. Take the time to make an “apples to apples” comparison that looks at interest rates, repayment terms, your monthly payment, and your total loan amount before you decide.

Related Articles: 

• Best Personal Loans
• When Does It Make Sense to Refinance or Consolidate Your Student Loans
• Best Debt Consolidation Loan Companies
• Six Personal Loan Myths Dispelled

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Getting Started With Email Marketing – The Beginner’s Guide

I love building and running email lists.

Why?

Because they make so much money. Even today, a healthy email list is one of the marketing assets that’s pure gold. With a good email list, it feels like printing money. Or having a marketing laser beam that floods any marketing promotion that I’m doing.

My first question when working on a new business is always: where’s the email list and how can I get it growing?

If I get that right, my job gets a lot easier later on.

First, what email service should you choose? We put together an entire breakdown of our recommended email marketing services here. Switching email tools becomes a major pain as you grow your list so make sure to get this decision right in the beginning.

After you have your email tool sorted out, it’s time to start building your list. I’ve grown multiple lists to over 100,000 during my career, I even got one to 720,000 a few years ago. Check out all my best strategies for email list building.

Ecommerce companies have a few other ways to grow there lists too, check them out in How to Grow Your Email List as an Ecommerce Brand (A Beginner’s Guide).

And if you have a strong Facebook presence, here’s our best tips on how to build email lists with Facebook.

For building email lists, the key is coming up with an amazing lead magnet. A lot of my major career wins came from finding a lead magnet that converted traffic into emails at an absurd rate.

What’s a lead magnet? It’s a freebie, usually a premium piece of content like a nice PDF. People give up their email list in order to get that free, premium piece of content. That’s an entire art and science to creating the right lead magnet.

Running Your Email Marketing List

Once you get an email list going, then what do you do?

It’s time to manage your list and keep it healthy. There’s a lot that goes into this.

Keep in mind that lists decay over time. If a list isn’t kept engaged and active, that list will slowly stop responding to emails altogether.

Go through our guide on How to Write a Newsletter. Also read our tips on How to Improve Email Engagement. That will keep your list nice and healthy.

The most important element to focus on is your subject lines. They have a crazy impact on the performance of any email. Get the subject line right and that’ll make up for a lot of other email mistakes. The best subject lines are here.

Then get a feel for the key email metrics to keep an eye on: 5 Essential Email Marketing Statistics You Should Check Often. That’ll keep you on top of any problems before they become too serious.

When you’re ready for a deep-dive on deliverability, open rates, spam, and everything else, get into all the details here:

• How to Write Emails Your Subscribers Can’t Wait to Open
• How to Stop Your Emails from Being Marked as Spam
• 5 Simple Ways to Increase Your Email Deliverability Rates
• 5 Reasons Why You Can’t Make Your Email Marketing Work (and How To Fix It)

Marketing Automation and Drip Campaigns

I gotta say, the major win from email comes from automating everything. Once you know that an email campaign works, use a marketing automation tool to send it automatically at the best time for your subscribers. You’ll get all the extra revenue and conversions without having to do extra work.

Here’s our Definitive Guide to Marketing Automation that breaks down how it all works. Definitely start there.

Marketing automation can get complicated, these articles break it all down:

• Amplify 1-on-1 Connections with Email Marketing
• How to Deliver Relevant Marketing Content by Segmenting Your Email Subscribers
• How to Create an Actionable Drip Campaign
• A Step-by-Step Guide to Creating an Autoresponder That Subscribers Can’t Wait to Open
• How to Set Up an Email Autoresponder in Aweber
• How to Squeeze Revenue from Confirmation Emails

Wrapping Up

When you’re ready, you’ll also want to start A/B testing your emails. Our Beginner’s Guide to How to Start A/B Testing Your Email Marketing goes through everything that you’ll need.

We’ve also have two cases studies that show you how all this works in practice:

• What Sending 62,619,592 Emails Taught Me About Content Marketing
• How I Turned a 40,000 Word Guide into 361,494 Visitors and 8421 Email Opt-ins
• 

  
  
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How the Gender Pay Gap Works

The gender pay gap is usually expressed something like this: Women make 80 cents for every dollar a man makes. Where did this figure come from and is it still true?

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What is Credit Mix and How Does it Affect Your Credit Score?

How the Gender Pay Gap Works

The gender pay gap is usually expressed something like this: Women make 80 cents for every dollar a man makes. Where did this figure come from and is it still true?

Source Business & Money | HowStuffWorks https://ift.tt/2HSJ2BZ