Rocket Mortgage Announces Additional Sales, Helping Make the American Dream of Homeownership More Achievable.

Special loan programs offered to $7,500 in home equity financing for first-time buyers in underserved communities to eliminate a major barrier to home ownership

DETROIT, December 27, 2022 /PRNewswire/ — Rocket mortgagepart of Rocket Company (NYSE: RKT), today launched Purchase Plus, a special credit program aimed at increasing access to home ownership in underserved communities. The new plan is offered at $7,500 on approvals for first-time home buyers to use for their mortgage payments. Purchase Plus is available in census tracts in six major cities where home buyers can benefit greatly – Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

“Home ownership has a significant impact on strong communities and building intergenerational wealth,” he said. Bob Walters, CEO of Rocket Mortgage. “Our Purchase Plus program is an initiative that will help narrow the home ownership gap by addressing a concern we have been hearing about. time and time again – the difficulty of saving for out-of-pocket expenses when buying a home.”

Saving for a down payment is often cited as one of the biggest barriers to buying a home. Purchase Plus can help reduce this risk by providing qualified home buyers in one of six cities with a credit-based loan of $5,000 plus an additional lender’s loan of 1% of the home’s purchase price – up to $2,500 – for potential savings d $7,500.

Another benefit of Purchase Plus is the elimination of area income restrictions, broadening the scope of who can use the program. The first phase of Purchase Plus will focus on the census in each of the six cities and their surrounding metropolitan areas – areas where the initiative can make the most impact in connecting the the house owner.

In addition to Purchase Plus, Rocket Mortgage offers a variety of programs with the goal of expanding opportunities for homeownership. In 2021, the company launched a program in his village of Detroit call Detroit Home Loans+ to support those looking to buy in the city through $2,500 mortgage and home equity loans. To expand on this mission, Rocket Community Fund – the philanthropic partner of Rocket Mortgage – recently launched the Rocket Wealth Accelerator Programprovide residents of Detroit, Cleveland, Milwaukee and Atlanta with teachers who will work with them to improve their ability to meet sudden needs, build their credit and grow the wealth of generations.

For more information about Purchase Plus and program eligibility, visit www.RocketMortgage.com.

About Rocket Mortgage

Detroit-based Rocket Mortgage, the nation’s largest mortgage lender and a division of Rocket Companies (NYSE: RKT), makes the American Dream of homeownership and financial freedom possible through its innovative and customer-driven business experience. In late 2015, the first fully online mortgage information was introduced. Close Mortgage Rocket $351 billion dollars the majority of mortgages in all 50 states by 2021.

Rocket Mortgage moved its headquarters downtown Detroit in 2010. The company produces loans from online centers in Detroit, Cleveland and Phoenix.

Rocket Companies, parent company of Rocket Mortgage, ranked #7 on Fortune’s list of “100 Best Companies to Work For” in 2022 and has been placed in the top third of the list for 19 consecutive years .

For more information and company news visit RocketMortgage.com/PressRoom.

Source Rocket Mortgage

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