Rocket Mortgage Expands Mortgage Options Again, Begins Financing Manufactured Homes

This is the latest in Rocket Mortgage’s series of new loan programs to help Americans achieve home ownership.

Detroit, November 2, 2022 /PRNewswire/ — Rocket Mortgage is and is part of the nation’s largest mortgage lender. rocket company (NYSE: RKT) today introduced traditional loan options for Americans interested in purchasing or refinancing manufactured homes.

Rocket Mortgage is America’s largest mortgage company. (PRNewsfoto/Rocket Mortgage)

“After revolutionizing the traditional site-built home mortgage experience, we are thrilled to be able to bring the technology and expert guidance that Rocket is known for to people buying manufactured homes. I am proud of Bob Walters, CEO of Rocket Mortgage. “Through this new option, we hope more Americans can fulfill their homeownership dreams.”

Manufacture Houses are built in indoor housing construction facilities in accordance with Department of Housing and Urban Development (HUD) regulations. Manufacture Home StandardIt is then delivered to the land where the owner lives. Once the house arrives on site and is placed on a permanent foundation, it becomes real estate and can be financed through a mortgage.

This housing option offers homebuyers a cost-effective choice. Recent reports According to the Manufacture Housing Institute, a manufacture house costs on average about one-third as much as a site build house. The Institute also says that 22 million Americans currently live in manufactured homes, with this type of building accounting for 9% of his new home construction.

“Last year, roughly $12 billion In the sale of manufactured homes. These are high-income, high-credit, high-credit clients. We look forward to them being able to own a home,” Walters added.

Rocket Mortgage’s new Manufactured Home Financing can be used to purchase a primary residence for as little as 5% down or a second home for at least 10%. Cash out refinances are available for primary residences and interest rate and term refinancings are available for primary residences or second homes. Other credit, asset, income and liability requirements are consistent with traditional loan guidelines.

Clients can leverage Rocket Mortgage’s industry-leading digital mortgage experience to apply and execute the loan process. A mortgage expert can offer advice and guidance along the way. You can also apply for a home loan through his broker who is affiliated with Rocket.

To meet the needs of its customers, Rocket Mortgage has announced a number of new services over the past few months. In July, the company introduced Rate Drop Advantage. This is an innovative program that waives many of the refinancing costs if the client buys a home now and refinances within three years. In August, Rocket Mortgage introduced Home Equity Loans, offering new options for managing growing consumer debt.recently launched company inflation buster – Make homebuyers’ interest rates completely free for the first year, with 1 percentage point reduction on most loans.

Homebuyers can go to Find out more and apply for a home loan. Mortgage brokers can learn about this program at Alternatively, you can speak to your Account Executive.

About Rocket Mortgage

DetroitU.S.-based Rocket Mortgage, the largest U.S. mortgage lender and part of The Rocket Companies (NYSE: RKT), is driving homeownership and economic growth through its industry-leading obsession with digitally-driven client experiences. Enabling the American Dream of Freedom. In late 2015, we introduced the first fully digital, fully online mortgage experience.Rocket Mortgage Closure $351 billion 2021 mortgage volume in all 50 states.

Rocket Mortgage moves headquarters downtown Detroit in 2010. The company generates loans from its web center located at Detroit, cleveland and phoenix. Rocket Companies, the parent company of Rocket Mortgage, is ranked No. 7 on Fortune’s 100 Best Companies to Work For list in 2022, placing in the top third of the list for the 19th consecutive year.

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