Detroit-headquartered Rocket Companies (NYSE:RKT) announced the debut of BUY+, a collaboration between its Rocket Mortgage and Rocket Homes operations.
According to the company, BUY+ enables clients who obtain purchase financing from Rocket Mortgage and find a home with the help of a Rocket Homes Partner Real Estate Agent to receive a credit equal to 1.5% of their loan amount to put toward closing costs. Buyers who are using an agent who is not affiliated with Rocket Homes but who refers them to Rocket Mortgage can receive a 0.75% credit of their loan amount toward closing costs.
Also, buyers who opt for a Verified Approval – a full mortgage approval that considers their income, assets and credit – will also receive a 0.75% credit of their loan amount toward closing costs.
“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.”
In addition to partnering with Rocket Mortgage on BUY+, Rocket Homes also announced the SELL+ initiative where sellers listing their home with a Rocket Homes Partner Agent can receive a rebate check for 1% of the sale price from Rocket Homes after closing.
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