DETROIT, MI - Rocket Mortgage has launched Detroit Home Loan+, an initiative to help Detroit residents on their homebuying journey. This includes $2,500 lender credits and consultation with trained specialists.
The initiatives aim to assist Detroit residents who do not have the financial means or access to other information to purchase a house.
They are partnering up with several companies and institutions to provide Detroit residents with the help they need. MoCaFi, a Black-owned company, will open a bank account for them (if they don't already have one) or present additional data, like rent payments, into their credit report if they need to improve their credit score.
Detroit Housing Network, an alliance of six Detroit-based nonprofits, will also step in to help. Residents in need of additional support will be guided by experts to prepare them for homeownership. They are experienced in offering a wide range of housing services for renters, homebuyers, and homeowners.
Those who are ready to finally buy a house may take advantage of Rocket Mortgage's new Detroit Home Loan+ program to earn a $2,500 closing cost credit when purchasing a primary property in the city. The closing cost credit is applied automatically to all qualified mortgages, including conventional, FHA, and VA loans.
For more information, visit RocketMortgage.com/Detroit or call 800-291-1488.
Rocket Mortgage adheres to the “for-more-than-profit” concept. It has used its resources to create initiatives and collaborations that help to make the city more inclusive, flourishing, and resilient.
Since relocating to Detroit in 2010, Rocket Mortgage and the Rocket Community Fund – Rocket Companies’ philanthropic partner company – have shown a dedication to serving and assisting Detroiters through data-driven investments and initiatives.
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