Rocket's new RentRewards program seeks to support renters in their journey to homeownership by converting monthly rent payments into credits for closing costs. With the national average rent sitting at $1,800, this program can significantly assist renters, especially in underserved communities, as they strive for financial independence. The initiative comes amidst growing concerns that homeownership is out of reach for many. By 2030, it's predicted that first-time homebuyers will predominantly come from these communities, making such innovations crucial for equitable housing access.
Many renters feel like homeownership is out of reach, especially as they try to save money to take to the closing table.
The RocketRentRewards program aims to bridge the gap by converting rental payments into financial savings, empowering aspiring buyers.
According to the Detroit-based lender, renters can verify their rent payments from the past 12 months through documentation confirming their current rental amount.
Our mission to Help Everyone Home is at the heart of this offer, providing support to those struggling to transition from renting to owning.
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