"I would say the new product offering specifically resonates with promise number five: helping everyone home means everyoneWe can open up more markets for our partners, talking with investors out there, and start really helping everyone home. Scholl described a market shift over the last few years that has generated more interest in DSCR. The new product allows purchase, rate-term refinances, and cash-out refinances with a max loan amount of $3 million for the first two and $2.5 million for a cash-out."
"Scholl said that the product is not for first-time real estate investors as Rocket Pro requires a history of rental income or property management experience of at least one year. Rocket Pro's secondary market strategy for the DSCR product involves not holding servicing for loans, Scholl and a Rocket spokesperson confirmed. The DSCR product launch builds on other recent announcements from the Detroit-based lender."
Rocket Pro launched a DSCR mortgage product designed to expand investor markets and align with its partner promise of helping everyone get home. The offering supports purchase and rate-term refinances up to $3 million and cash-out refinances up to $2.5 million. Eligibility requires at least one year of rental income history or property management experience, excluding first-time real-estate investors. The lender plans not to retain servicing in the secondary market. The launch complements Rocket Pro Navigate, an AI platform for loan officers providing sales coaching, lead discovery, document analysis, and client communications. Early Navigate use produced a 65% month-over-month production increase in the first 30 days.
Read at www.housingwire.com
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