Give Quicken Loans’ new website 8 minutes, and it will approve you for a mortgage

Thanks to various apps, you can catch a ride, hire someone to clean your apartment, and order a pizza, all without picking up the phone. It’s glorious. Thanks to Quicken Loans, you can get a similar human-interaction-free experience while refinancing or getting a home loan with its new website Rocket Mortgage. You should get approved in about eight minutes, the company says, which is different from a preapproval, because of the data the system imports and verifies thanks to its direct link to government underwriting engines.

While there are lots of mortgage calculators out there, they use generalized information to give you a general idea of what you’ll get. With Rocket Mortgage, you answer some questions, then let the system fill out other information for you. If you want to refinance, for example, you input your home’s address, and it will populate fields for whether it’s a single-family home, its original purchase price, and when it was built. It uses public records and Quicken’s data to get the information.

“We’ve been lending in all 50 states and 3,000 counties for a while, so we have a lot of internal data, so we said let’s start putting that to use for people and make this easier,” Regis Hadiaris, Rocket Mortgage product lead, tells Digital Trends. You can let it access your tax information, for example, so it knows your employment history, including how much you make. Give the system access to your bank accounts, and it will have information about your assets. It makes both the inputting process faster and removes the “burden of proof” later down the line, with users having to submit W-2s, pay stubs, and bank statements. “We don’t have to wait for people to find pieces of paper and take pictures of them and send them to us,” says Hadiaris. “This is not a calculator at all. This is an exact mortgage quote based on all that information I entered.”

Once you get your rate, you can customize it further with slider bars. If you don’t want to pay closing costs, you slide the tab over. Switching from a 30-year mortgage to a 24-year one will instantly change the numbers, instead of waiting for a loan officer and his or her calculator.

In addition to getting the approval process down to eight minutes (getting a rate for a new home took me about 13), Hadiaris says pulling Rocket Mortgage has reduced the time it takes to close the loan from 30 days to three weeks. During that time, Quicken will verify all your information, and you’ll schedule a home appraisal visit.

At the end of clicking through the process, the system had asked to access my tax records and bank accounts and showed me my credit score — basically all information that I want extra protected. Quicken says it uses bank-level encryption and round-the-clock monitoring, and even though Hadiaris says Rocket Mortgage was designed to be done in line at Starbucks, you obviously don’t want to do it over your coffee shop’s public Wi-Fi.

Updated 12/9/2015: Updated to explain how Rocket Mortage’s approval is different from preapproval.

Deals

Time to do taxes? Save up to 50 percent on H&R Block tax software this weekend

Tax season is stressful, and with new tax laws in effect this year, it's not a bad idea to get some help. H&R Block has you covered: For two days only, you can save 50 percent on its great software so you can file your taxes online and save…
Smart Home

Is your coffee maker hiding mold inside? Here's how to clean it

Are you a coffee drinker? If you brew your coffee at home and you don't clean your machine, you could be drinking mold, yeast, and other bacteria. Here's how to clean your coffee maker.
Mobile

Rooting your Android device is risky. Do it right with our handy guide

Wondering whether to root your Android smartphone or stick with stock Android? Perhaps you’ve decided to do it and you just need to know how? Here, you'll find an explanation and a quick guide on how to root Android devices.
Smart Home

Get sweaty with the best smart home fitness gadgets on the market

Are you looking for smart fitness devices that will really help your workouts, no matter where you like to exercise? These smart home gadgets are designed to help you analyze your workouts and keep track of how you are doing.
Deals

Suck up the savings with these vacuum cleaners on sale for $100 or less

Keeping your floors clean around the home is a constant chore. To help make things a whole lot easier, we've picked out some great vacuum cleaner deals available right now, from full-sized upright models to robot vacs.
Deals

Walmart drops prices on Google Home Hub and Lenovo smart displays

Walmart slashed the prices of Google Home smart displays for two highly regarded Lenovo models and the original Google Home Hub. We can't think of a better way to improve your smart home setup and these deals can help you save up to $100.
Deals

Amazon lowers Echo Dot cost and slashes price of the Dot and Smart Plug bundle

Amazon just unleashed extraordinary price cuts on third-generation Echo Dot smart speakers. The Alexa device is back in stock following the blowout sales last holiday season. The Echo Dot is the best-selling Alexa smart speaker worldwide.
Smart Home

These best outdoor security cameras will keep porch pirates at bay

Worried about porch pirates stealing your packages, or intruders entering your home? Always be in the know about who or what is on your property by installing one of these outdoor security cameras.
Smart Home

Your Instant Pot can do it all. Research says it has another important function

Researchers at Dakota State University tested a variety of pressure cookers for sterilization and found that Instant Pot provides enough pressure and heat to kill off food-spoiling bacteria.
Smart Home

Need some help? Here's our handy step-by-step guide on how to Airbnb your home

Getting ready to make your home a great rental? Here's how to Airbnb your home with the right amenities, insurance, supplies, and everthing else that you need. Use this guide to get started without making beginner mistakes!
Deals

Dyson sale shatters prices on vacuums just in time for spring cleaning

Steep price cuts on Dyson vacuum cleaners for the spring cleaning season help you save money on the tools you need to do the job. We've found the best discounts on Dyson vacuums from Amazon and Walmart and put them all in one place.
Deals

Amazon slashes prices on Echo devices that play Alexa’s sweetest-sounding music

Amazon slashed prices on Alexa-controlled Echo devices with the best music sound quality. All Alexa smart speakers stream music, but some sound better than others. Save on Echo Plus and the Echo Sub bundled with Echo and Echo Plus speakers.
Emerging Tech

Awesome Tech You Can’t Buy Yet: Robotic companions and computer-aided karaoke

Check out our roundup of the best new crowdfunding projects and product announcements that hit the web this week. You may not be able to buy this stuff yet, but it's fun to gawk!
Product Review

Simple and small, the Google Home Hub is your low-key smart screen

What’s small, simple, cute, and lacks a camera? The Google Home Hub is the latest smart display to hit the market. Powered by Google Assistant, there’s a lot to like about this device.