Rocket Mortgage has announced their BUY+ program, a collaboration with Rocket Homes that provides a credit of 1.5% of the loan amount to be used on closing costs for clients who obtain financing from Rocket Mortgage and find a home with a Rocket Homes Partner Real Estate Agent.
“There are way too many people across the country who are looking forward to buying a home – and could comfortably make the monthly payments–but are still on the long road to saving for the upfront costs,” said Bob Walters, CEO of Rocket Mortgage. “With BUY+, Rocket Mortgage is making this process a lot easier to achieve, lowering a hurdle for those who are ready for a home of their own.”
The company stated that homebuyers can receive a credit of 1.5% of their loan amount, up to $10,000 off their closing costs, by working with a Rocket Homes Partner Agent to find their new home. For example, a homebuyer putting 5% down on a $350,000 home would have a loan of $332,500. Working with a Rocket Homes Partner Agent and getting a mortgage through Rocket Mortgage would earn them nearly $5,000 toward their closing costs.
Homebuyers who are not being helped by a Rocket Homes Partner Agent can also save on their mortgage, according to a release. Clients working with an unaffiliated real estate professional who refers them to Rocket Mortgage, or buyers opting for a Verified Approval–a full mortgage approval that considers their income, assets and credit–will receive a 0.75% credit of their loan amount toward closing costs. This buyer would save nearly $2,500 on their closing costs if they put 5% down on a $350,000 home.
Rocket Homes Partner Agents are vetted and verified real estate professionals who are actively helping homebuyers and sellers, in all 50 states, confidently navigate the complex housing market. With more than 1 million clients served, and an overall average agent rating of 4.8 stars out of 5 in closed client surveys, consumers can trust that their Rocket Homes Partner Agent will guide them to the home that fits their unique needs or help sell their home for top dollar.
“One of the benefits of sister companies Rocket Homes and Rocket Mortgage is that each are uniquely designed to help homebuyers during specific moments in the real estate process,” said Doug Seabolt, CEO of Rocket Homes. “Clients could already do many things with one Rocket Account login, like connect with a trusted real estate agent and search for a home with Rocket Homes – then use that same account to get approved for financing with Rocket Mortgage. Now, we are adding onto that elevated experience with game-changing savings.”
In addition to partnering with Rocket Mortgage on BUY+, Rocket Homes announced their new SELL+ initiative to help home sellers as well. Through the SELL+ program, sellers listing their home for sale with a Rocket Homes Partner Agent will receive a rebate check for 1% of the sale price from Rocket Homes after closing. As of late 2022, homeowners have acquired a record of 31 billion dollars in total equity and SELL+ helps them keep more of it in their pocket. Even better, if a homeowner is buying and selling, they can use both the BUY+ and SELL+ programs to increase their savings.
For more information, visit https://www.rocketmortgage.com/only-with-rocket.