Mortgage lenders across the country are vying for the attention of homebuyers for their business. Rocket Mortgage, a leader in the industry, has recently implemented a new program to incentivize buyers and reward partner agents. The program, called Rocket Mortgage Cash Back, gives Rocket Mortgage borrowers who purchase through a partner agent 1.5% of the purchase price back in closing costs.
Rocket Mortgage reports that the Cash Back program is open to borrowers purchasing both condos and single family homes. Any borrower who uses a partner agent for a Rocket Mortgage post-qualified home purchase will be eligible for the program. The partner agent will receive the reimbursement, who can then give it to their buyer. Additionally, Rocket Mortgage boasts that their average closing cost is lower than the average national average.
Rocket Mortgage is also eliminating several additional fees associated with post-closing and underwriting costs. The fees include Document Preparation Fee, Courier Fee, Courier Feed, Flood Fee, Wire Closing Fee and Domestic Wire Transfer Fee. All of this will significantly reduce the associated costs of the transaction.
Rocket Mortgage is looking to further their presence in the industry and the Cash Back program is just the latest of their endeavors. By helping out buyers and rewarding agents, the company hopes to create a mutually beneficial place for borrowers and agents alike. Their aim is to bridge the gap of misunderstanding between the agents and the lenders, and to make the home buying process simpler and more transparent for all.
You can read this full article at: https://www.housingwire.com/articles/rocket-mortgage-to-buyers-use-a-partner-agent-save-big-on-closing-costs/(subscription required)
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