Stepping Up To Support Homeownership In Detroit

Here at Rocket Companies^®, we believe in providing resources and support to the communities in which we live, work and play. That’s why we’re seriously excited to talk about Detroit Home Loan+ today.

The goal of Detroit Home Loan+ is to increase homeownership in the city of Detroit. The centerpiece of the program is a $2,500 lender credit from Rocket Mortgage^® for those buying a home in the city. The credit is available for conventional, FHA and VA loans, however, it goes beyond that into homeownership preparation.

We partnered with MoCaFi to help break down the barriers to homeownership. If you don’t have a bank account, you can set one up through MoCaFi. Also, rent isn’t always reported on credit, but having that history can help you qualify for a mortgage. They can help you get that reported on your credit to boost your score.

Preparedness is key. To that end, we’ve partnered with Framework to offer Detroiters their homeownership education course. This takes you all the way from deciding whether it’s the right time for you to buy to getting to the closing table to maintaining your home.

Finally, we’re working with Detroit Housing Network to provide homeownership counseling and get people ready to accomplish their homeownership dreams. These resources all work together to meet people where they are on their journey to homeownership.

When we moved to the city back in 2010, it was because we felt we could use our resources, our know-how and our people to make a difference. Rocket Companies has a For More Than Profit^SM philosophy. This is just the newest front in our years’ long commitment to Detroit and its residents.

“Detroit has been home to Rocket Mortgage for more than a decade. In that time, we have been proud to use our expertise to create initiatives that support the city’s homeowners,” said Jay Farner, CEO of Rocket Companies. “Today, we are doubling down on that commitment. By increasing access to banking, credit-building opportunities and, ultimately, home financing, more Detroit residents will be able to build equity through homeownership, which increases neighborhood stability and opportunity for future generations.”

Owning a home is one of the biggest financial assets you can pass down through generations and we’re happy to offer programs to help Detroiters on their path of future prosperity by gaining all the benefits homeownership has to offer.

We’re proud of our work in Detroit and thankful to be members of this community. Do you want to work for more than the bottom line? Check out our open positions! You can also find out more here: Detroit Home Loan+.