Rocket Homes in Detroit, a technology-driven real estate service and part of Rocket Cos., today announced it is combining a comprehensive suite of home buying and selling tools to one customizable platform.
The services include credit reporting, home search, a leading processed developed by ForSaleByOwner.com, on-staff real estate agents, a nationwide network of real estate professionals, iBuying services to provide a back-up offer to sellers, and direct connections to Rocket Mortgage — America’s largest mortgage lender — and Amrock — a closing and settlement services provider.
“There is nothing more exciting than getting the keys to a new home, but far too often the process of getting to that point is confusing and fragmented,” says Doug Seabolt, CEO of Rocket Mortgage. “At Rocket Homes, we are laser-focused on using technology and innovation to create a fully customized and transparent experience that is stress-free and fully integrated — working seamlessly with sister companies to simplify and speed-up the process, all while saving our clients’ money.”
Rocket Home Seller Solutions will bring home sellers the ability to select the right experience for their needs and goals. Sellers can work with on-staff real estate agents for advising on the best listing price, facilitating professional photos, listing the house on the local multiple listing service, negotiate offers, and handle all paperwork. This option will open to the public in the fourth quarter of 2021. The commission for this program is 1.5 percent, compared to the traditional three percent fee.
Rocket Homes Verified Partner Agent Network of trusted and vetted professional who consistently receive top ratings from their clients and are experts in their local area. This option is available for seller who want a hands-on and in-person experience, opposed to forgoing an agent altogether using the ForSaleByOwner.com service, or receiving traditional agent support.
The iBuyer program, facilitated through third-party companies, will ensure every owner receives a guaranteed offer on their house. Consumer often need to sell their current house before buying another, meaning the next house is contingent on them closing their sale. This program eliminated uncertainty in this area.
Home buyers will be able to use the company’s home listing sites, or be referred to a Verified Partner Agent, who can leverage Rocket Pro Insight service, which allows agents to upload documents on behalf of the buyer, ensuring the process keeps moving. It also enables the agent to adjust the loan amount on the approval letter within a set range to help clients win bids.
Rocket Homes Housing Market Reports will be a consumer tool that provides insight on and trend information on specific neighborhoods in a clear, easy-to-understand format. Another pre-search tool for buyers is the company’s proprietary credit monitoring tools, which allow buyers to be sure they can afford the house they want.
“Whether a client is looking to sell their house on their own, get assistance from an on-staff Rocket Homes agent or meet face-to-face with our trusted local real estate professionals, we will have unique options and resources to help every client move through the process in a way that is fully customized to them,” says Seabolt.
In Related News: Rocket Mortgage announced a full suite of programs to help Detroit residents interested in buying a home in the city, regardless of where they are in the home buying journey.
The new initiative includes $2,500 in lender credits when purchasing a primary resident in Detroit, along with resources for residents who are underbanked or can benefit from credit counseling and homebuyer education.
“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,” says Jay Farner, CEO of Rocket Cos. “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.”
Rocket Mortgage’s new initiatives start with those who have a desire to buy a home but need some help along the way. If a Detroiter does not have a bank account, or needs to boost their credit score, Rocket Mortgage will connect them with MoCaFi, a Black-owned FinTech company.
“MoCaFi’s goal, as part of the Detroit Home Loan+ program, is to provide the Detroit community with a broader set of resources that can help them take the steps needed to prepare for homeownership. We, along with Rocket Mortgage, believe everyone should have an opportunity at this important part of the American Dream,” says Wole Coaxum, CEO of MoCaFi.
Detroiter is need of additional support will be connected to the Detroit Housing Network — a conglomerate of six Detroit-based nonprofits providing a wide-range of housing services for renters, homebuyers, and homeowners.
Once ready to become a homeowner, Detroit residents can leverage Rocket Mortgage’s new Detroit Home Loan+ program to receive a $2,500 closing cost credit when buying a primary residence in the city. The closing cost credit is automatically applied to all eligible mortgages, which includes conventional, FHA and VA loans. Detroiters can apply through the Rocket Mortgage app or call the Detroit Home Loan+ mortgage banking specialists at 800-291-1488.