Get Rewarded for Renting

Get Rewarded for Renting

Rocket Mortgage has introduced a new initiative, Rocket Rent Rewards, aimed at assisting renters in transitioning to homeownership by offering up to $5,000 toward closing costs. This program allows eligible homebuyers to receive a credit equivalent to 10% of their total rent payments over the past year when they secure a mortgage through Rocket Mortgage.

• Eligibility: Renters who have consistently made payments over the last 12 months finance a home through Rocket Mortgage.

• Benefit Calculation: 10% of the total rent paid in the previous year, up to $5,000.

Ralph’s Take

This is a strategic way to make homeownership a little more accessible for renters. Consistently paying rent already demonstrates financial responsibility, and with higher-than-average interest rates and steady home prices, every financial break matters. By cutting down upfront costs, Rocket Mortgage is giving renters a better chance to transition from leasing to owning. Well-done.