Trending...
- Detroit Hip-hop Takes Center Stage: Historic Official Sxsw Showcase Spotlights The City's Rising Music Economy - 133
- Training Lofts Launches $1,099 Unlimited Training Membership Featuring Semi-Private Coaching, Nutrition Support, and Recovery Services - 125
- Pastor Saeed Abedini Releases THE TRUTH – Volume 1, A Deeply Personal Story of Faith, Struggle, and Redemption - 116
This is the latest in a series of new loan programs from Rocket Mortgage that help Americans achieve homeownership
DETROIT, Nov. 2, 2022 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today introduced a conventional loan option for Americans who are interested in purchasing or refinancing a manufactured home.
"After revolutionizing the home loan experience for traditional site-built homes, we are proud to bring the technology and expert guidance Rocket is known for to those who are purchasing manufactured homes," said Bob Walters, CEO of Rocket Mortgage. "It's our hope that, through this new option, more Americans can realize their dream of homeownership."
Manufactured homes are built at indoor homebuilding facilities in accordance with the Department of Housing and Urban Development (HUD)'s Manufactured Home Standards. It is then delivered to the land where the owner will live in it. Once the home arrives on site and is placed on a permanent foundation, it becomes real property and is able to be financed through a mortgage.
This housing option offers a cost effective choice for homebuyers as evidenced by a recent report from the Manufactured Housing Institute showing manufactured homes are about a third of the cost, on average, of a site-built home. The Institute also stated that 22 million Americans currently live in manufactured homes and this building type accounts for 9 percent of new home construction.
More on Michimich.com
"In the past year, there was roughly $12 billion in sales of manufactured homes. These are clients with great income, credit scores and who are very creditworthy. We are looking forward to helping them achieve homeownership," Walters added.
Rocket Mortgage's new manufactured home financing can be used for the purchase of a primary residence with as little as 5 percent down or a second home with at least 10 percent. Cash out refinances are available on a primary residence and rate-and-term refinances are available on either a primary or second home. Other credit, asset, income and debt requirements are consistent with conventional loan guidelines.
Clients are able to use Rocket Mortgage's industry-leading digital mortgage experience to apply and go through the loan process, with mortgage experts available to advise and guide them along the way. They can also apply through any mortgage broker who partners with Rocket.
To meet client needs, Rocket Mortgage has announced a number of new offerings in the past few months. In July, the company introduced Rate Drop Advantage – an innovative program that waives many of the costs to refinance if a client buys a home now and refinances within three years. In August, Rocket Mortgage introduced a home equity loan – providing a new option to combat rising consumer debt. The company most recently launched Inflation Buster – lowering a homebuyers' interest rate by one percentage point on most loans for the first year, completely free.
More on Michimich.com
Homebuyers can go to RocketMortgage.com to learn more and apply for a home loan. Mortgage brokers can learn about the program at RocketProTPO.com or they can talk to their account executive.
About Rocket Mortgage
Detroit-based Rocket Mortgage, the nation's largest home mortgage lender and part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Rocket Mortgage closed $351 billion dollars of mortgage volume across all 50 states in 2021.
Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan production from web centers located in Detroit, Cleveland and Phoenix. Rocket Companies, Rocket Mortgage's parent company, ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.
For more information and company news visit RocketMortgage.com/PressRoom.
SOURCE Rocket Mortgage
DETROIT, Nov. 2, 2022 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today introduced a conventional loan option for Americans who are interested in purchasing or refinancing a manufactured home.
"After revolutionizing the home loan experience for traditional site-built homes, we are proud to bring the technology and expert guidance Rocket is known for to those who are purchasing manufactured homes," said Bob Walters, CEO of Rocket Mortgage. "It's our hope that, through this new option, more Americans can realize their dream of homeownership."
Manufactured homes are built at indoor homebuilding facilities in accordance with the Department of Housing and Urban Development (HUD)'s Manufactured Home Standards. It is then delivered to the land where the owner will live in it. Once the home arrives on site and is placed on a permanent foundation, it becomes real property and is able to be financed through a mortgage.
This housing option offers a cost effective choice for homebuyers as evidenced by a recent report from the Manufactured Housing Institute showing manufactured homes are about a third of the cost, on average, of a site-built home. The Institute also stated that 22 million Americans currently live in manufactured homes and this building type accounts for 9 percent of new home construction.
More on Michimich.com
- Greg Wier Announces the Release of More Than Just Luck
- Detroit Waffle Factory Brings Bold New Taste To Detroit
- Nieuwe standaard in webdesign: Professionele website laten maken voor het MKB vanaf €249 door Websitepioniers
- Shipping Containers Are Powering the Next Generation of Bitcoin Mining Infrastructure
- Hypnotherapy Finder Announces Official US Wide Launch After Successful Soft Launch
"In the past year, there was roughly $12 billion in sales of manufactured homes. These are clients with great income, credit scores and who are very creditworthy. We are looking forward to helping them achieve homeownership," Walters added.
Rocket Mortgage's new manufactured home financing can be used for the purchase of a primary residence with as little as 5 percent down or a second home with at least 10 percent. Cash out refinances are available on a primary residence and rate-and-term refinances are available on either a primary or second home. Other credit, asset, income and debt requirements are consistent with conventional loan guidelines.
Clients are able to use Rocket Mortgage's industry-leading digital mortgage experience to apply and go through the loan process, with mortgage experts available to advise and guide them along the way. They can also apply through any mortgage broker who partners with Rocket.
To meet client needs, Rocket Mortgage has announced a number of new offerings in the past few months. In July, the company introduced Rate Drop Advantage – an innovative program that waives many of the costs to refinance if a client buys a home now and refinances within three years. In August, Rocket Mortgage introduced a home equity loan – providing a new option to combat rising consumer debt. The company most recently launched Inflation Buster – lowering a homebuyers' interest rate by one percentage point on most loans for the first year, completely free.
More on Michimich.com
- Melzi Job Coach Launches on iOS and Android: A Privacy-First AI Career Engine Built for Execution
- AAACF Celebrates Repaid Impact Investments, Renewing Capital for Washtenaw County Communities
- Roofman USA Expands Michigan Coverage, Ensuring Homes Across the State Stay Protected
- Roofman USA Highlights Key Features of Energy-Efficient Roofing for Ann Arbor Homeowners
- SMAA Highlights Unified Movement Principles in Jujutsu and Judo Through Educational Scholarship
Homebuyers can go to RocketMortgage.com to learn more and apply for a home loan. Mortgage brokers can learn about the program at RocketProTPO.com or they can talk to their account executive.
About Rocket Mortgage
Detroit-based Rocket Mortgage, the nation's largest home mortgage lender and part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Rocket Mortgage closed $351 billion dollars of mortgage volume across all 50 states in 2021.
Rocket Mortgage moved its headquarters to downtown Detroit in 2010. The company generates loan production from web centers located in Detroit, Cleveland and Phoenix. Rocket Companies, Rocket Mortgage's parent company, ranked #7 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 19 consecutive years.
For more information and company news visit RocketMortgage.com/PressRoom.
SOURCE Rocket Mortgage
0 Comments
Latest on Michimich.com
- Michigan Debt Collection Agency Helps Businesses Create Airtight Credit Policies
- Michigan Collection Services Firm Describes Different Types of Defendants
- Howell-Based Professional Lawn Care Starts Crabgrass Prevention!
- Local Saline DJ Expands Services to Greater Grand Rapids Area
- $6 Million Funding Secured as Retail Expansion, Operational Streamlining, and Asset-Light Strategy Position the Company for Accelerated Growth $SOWG
- The "Unsexy" Business Quietly Creating 130+ New Entrepreneurs Across America — From Alaska to Puerto Rico
- Veteran Launches GTG Energy: Nicotine-Free Pouch as Americans Rethink Addiction, Focus, and What Fuels Performance
- RecallSentry™ App Launch — Your Home Safety Hub — Free on iOS & Android
- Award-Winning Director Crystal J. Huang's Under-$50K Film "The Ritual House" Wins Best Horror Feature at Golden State Film Festival
- Grads aren't getting hired — here's what we're doing about it
- K2 Integrity Enhances Technology Capabilities Through Acquisition of Leviathan Security Group
- #WeAreGreekWarriors Comes to Detroit in Celebration of Women's History Month
- Energywise Solutions and Pickleball Pros Partner to Bring More Energy and Visibility to Pickleball Clubs
- Buildout Launches CRM, Completing the Industry's First AI-Powered End-to-End Deal Engine for CRE
- The Franchise King® Releases Free Guide for Nervous Buyers
- Kanguro Insurance Taps Paylode to Launch Best-in-Class Pet and Renters Insurance Rewards Experience
- CCHR: CIA Mind-Control Files Raise Urgent Questions as Millions Take Psychotropic Drugs
- NRx Pharmaceuticals Launches Breakthrough One-Day Treatment Clinic in Florida as FDA Pathway and Clinical Data Strengthen Growth Outlook; $NRXP
- Revenue Optics Launches Talent Infrastructure Platform for SaaS Revenue Hiring and Appoints Sabz Kaur to Lead Growth
- Building a Multi-Domain Autonomous Systems Platform at the Intersection of AI, Defense and Infrastructure: VisionWave Holdings (N A S D A Q: VWAV)