On February 18, 2025, Rocket Mortgage unveiled RocketRentRewards, an innovative program designed to help renters transition to homeownership. This offer provides homebuyers with up to $5,000 in lender credits towards closing costs. Clients can earn 10% back on their last 12 months of rental payments, with the national average rent of $1,800 translating to $2,160 in credits.
The program aims to address one of the biggest financial hurdles for first-time homebuyers: saving for closing costs. It is particularly targeted at underserved communities, which are projected to represent over half of first-time homebuyers by 2030. Rent payments from the past year can be verified through documentation and directly applied as credits.
RocketRentRewards supports Rocket's 'Own the Dream' campaign and integrates with the newly launched Rocket.com platform, where clients can explore properties and receive personalized financing options. This product innovation is expected to expand Rocket's client base and make homeownership more accessible.
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