The lower rate is accomplished through a special escrow account established and fully funded by Rocket Mortgage. During the first 12 months, the homeowner will make the reduced mortgage payment and Rocket Mortgage will cover the difference automatically.
“Rocket Mortgage is committed to creating solutions to combat today’s high inflation, making home purchases more affordable,” said Bob Walters, CEO of Rocket Mortgage, said in a statement. “The Inflation Buster pairs perfectly with Rate Drop Advantage program which covers many of the costs to refinance when interest rates fall. Combined, these put buyers in the driver’s seat with unmatched benefits.”
Read the full announcement from Rocket.
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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
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Rocket Launches 'Inflation Buster' Program
Rocket Mortgage has introduced its “Inflation Buster” program, which helps homebuyers reduce their monthly mortgage payment by one percentage point for the first year of their loan.
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