Rocket Mortgage, today announced BUY+, a collaboration with sister company Rocket Homes that it alleges keeps cash in consumer’s pockets. Clients who obtain purchase financing from Rocket Mortgage and find a home with the help of a Rocket Homes Partner Real Estate Agent, will receive a credit equal to 1.5% of their loan amount to put toward closing costs, helping relieve some of the upfront cost of buying a home.
How the Home Buyer Rebate Program Works
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. 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 (see The Truth About Real Estate Agent Finder Services) who are actively helping homebuyers and sellers 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.
Home Seller Rebate Program
In addition to partnering with Rocket Mortgage on BUY+, Rocket Homes announced an initiative to help home sellers as well. Through the SELL+ offer, 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 Rocket Mortgage alleges its SELL+ program helps them keep more of it in their pocket.
A Better Rebate Program for Home Buyers and Sellers
Now it is worth pointing out that we are certified Rocket Homes Partner Agents and can assist buyers and/or sellers looking to participate in these programs however, we offer buyer and seller rebate programs of our own which provides even greater savings.
While Rocket Mortgage funds its rebates through a combination of elevated rates and a fees it charges consumers on its loans (and to be fair this is relative as their rates are competitive when compared to the national banks, but higher than those offered by our local lender partners), as well as contributions from its Partner Agents, our programs provide savings through a combination of below market rates and fees provided by our lender and title partners, as well as a contribution from us. With our program home buyers enjoy a savings of 2%, while sellers save approximately 1.5%.
Even better, if you are a homeowner buying and selling, you can use both of our BUY and SELL rebate programs to increase their savings.
The Better Way to Buy or Sell a Home
We are able to offer superior agency at a lower cost to you, without the expense of a referral fee, and with the complete range of services needed to get you top dollar for your home by maximizing its exposure.
We will list your home for a 2% commission, while allowing you to choose the commission offered to the Buyer’s Agent, and thus the potential to reduce the total commission below 5%. In the event we locate and represent the buyer for your home we will reduce the total commission even further (and we have strategies we can employ to enhance the chances of this which we’d be happy to discuss with you).
If you’re looking to net the best combination of quality, service, and savings, we invite you to email us, or give us call at 614.332.6984!
The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley 43209 Columbus 43201 43206 43214 43215 Delaware 43015 Downtown Dublin 43016 43017 Gahanna 43219 43230 Grandview Heights 43212 Galena 43021 Hilliard 43026 Lewis Center 43035 New Albany 43054 Pickerington 43147 Polaris Powell 43065 Upper Arlington 43220 43221 Westerville 43081 43082 Worthington 43235
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