Rocket Mortgage Puts Purchasing Power in the Hands of Clients with Bridge Loans - Enabling Homeowners to Buy Now, Sell Later
Rocket Mortgage (NYSE:RKT), the nation's largest mortgage lender, has launched bridge loans to help homeowners purchase new homes before selling their current properties. This strategic solution enables homeowners to tap into their average $181,000 in equity to compete with cash buyers in today's competitive housing market.
The bridge loan offers up to six months to sell existing homes with interest-only payments. Eligibility requires home listing or contract with agent, plus an associated Rocket Mortgage purchase loan. The program aims to eliminate contingent offer challenges and provide flexibility in highly competitive markets, where cities like San Jose see 67.1% of homes selling above asking price.
Rocket Mortgage (NYSE:RKT), il più grande prestatore ipotecario del paese, ha lanciato prestiti ponte per aiutare i proprietari di casa ad acquistare nuove abitazioni prima di vendere quelle attuali. Questa soluzione strategica consente ai proprietari di accedere al loro equity medio di 181.000 dollari per competere con gli acquirenti in contanti nel mercato immobiliare odierno, molto competitivo.
Il prestito ponte offre fino a sei mesi per vendere la casa esistente con pagamenti solo degli interessi. Per essere idonei è necessario mettere la casa in vendita o avere un contratto con un agente, oltre a un prestito d'acquisto associato con Rocket Mortgage. Il programma mira a eliminare le difficoltà legate alle offerte condizionate e a fornire flessibilità in mercati altamente competitivi, dove città come San Jose registrano che il 67,1% delle case si vende sopra il prezzo richiesto.
Rocket Mortgage (NYSE:RKT), el mayor prestamista hipotecario del país, ha lanzado préstamos puente para ayudar a los propietarios a comprar nuevas viviendas antes de vender sus propiedades actuales. Esta solución estratégica permite a los propietarios aprovechar su promedio de 181.000 dólares en capital para competir con compradores en efectivo en el competitivo mercado inmobiliario actual.
El préstamo puente ofrece hasta seis meses para vender las viviendas existentes con pagos solo de intereses. Para ser elegible, se requiere que la vivienda esté listada o tenga un contrato con un agente, además de un préstamo de compra asociado con Rocket Mortgage. El programa busca eliminar los problemas de ofertas condicionadas y brindar flexibilidad en mercados altamente competitivos, donde ciudades como San José ven que el 67,1% de las viviendas se venden por encima del precio solicitado.
Rocket Mortgage (NYSE:RKT)는 미국 최대의 주택담보대출 기관으로서, 현재 주택을 팔기 전에 새 집을 구매할 수 있도록 돕는 브리지 론(bridge loans)을 출시했습니다. 이 전략적 솔루션은 주택 소유자가 평균 181,000달러의 자산 가치를 활용하여 현금 구매자와 경쟁할 수 있게 합니다.
브리지 론은 기존 주택을 판매할 때까지 최대 6개월 동안 이자만 납부하는 조건을 제공합니다. 자격 요건으로는 부동산 중개인과의 매물 등록 또는 계약, 그리고 Rocket Mortgage의 구매 대출이 필요합니다. 이 프로그램은 조건부 제안 문제를 없애고, 산호세와 같은 도시에서 67.1%의 주택이 희망가 이상에 팔리는 매우 경쟁적인 시장에서 유연성을 제공합니다.
Rocket Mortgage (NYSE:RKT), le plus grand prêteur hypothécaire du pays, a lancé des prêts relais pour aider les propriétaires à acheter une nouvelle maison avant de vendre leur bien actuel. Cette solution stratégique permet aux propriétaires de mobiliser en moyenne 181 000 $ de capital pour rivaliser avec les acheteurs comptants sur le marché immobilier très concurrentiel d'aujourd'hui.
Le prêt relais offre jusqu'à six mois pour vendre leur maison existante avec des paiements d'intérêts uniquement. L'éligibilité nécessite la mise en vente ou un contrat avec un agent, ainsi qu'un prêt d'achat associé avec Rocket Mortgage. Ce programme vise à éliminer les difficultés liées aux offres conditionnelles et à offrir de la flexibilité dans des marchés très compétitifs, où des villes comme San Jose voient 67,1 % des maisons vendues au-dessus du prix demandé.
Rocket Mortgage (NYSE:RKT), der größte Hypothekengeber des Landes, hat Überbrückungskredite eingeführt, um Hausbesitzern den Kauf neuer Häuser vor dem Verkauf ihrer aktuellen Immobilien zu ermöglichen. Diese strategische Lösung erlaubt es Hausbesitzern, ihr durchschnittliches Eigenkapital von 181.000 US-Dollar zu nutzen, um im heutigen wettbewerbsintensiven Immobilienmarkt mit Barzahlern zu konkurrieren.
Der Überbrückungskredit bietet bis zu sechs Monate Zeit, um bestehende Häuser zu verkaufen, mit Zinszahlungen nur während dieser Zeit. Voraussetzung ist die Listung des Hauses oder ein Vertrag mit einem Makler sowie ein damit verbundener Kaufkredit von Rocket Mortgage. Das Programm zielt darauf ab, Herausforderungen durch bedingte Kaufangebote zu beseitigen und Flexibilität in stark umkämpften Märkten zu bieten, in denen Städte wie San Jose 67,1 % der Häuser über dem Angebotspreis verkauft werden.
- New bridge loan product enables homeowners to access average equity of $181,000
- Allows homeowners to compete with cash buyers in competitive markets
- Provides up to 6 months flexibility for selling existing home
- Eliminates need for contingent offers, making bids more competitive
- Reduces stress of simultaneous buying and selling
- Helps avoid costs of temporary housing and double moves
- Bridge loan requires interest-only payments during transition period
- Product limited to clients using Rocket Mortgage for purchase loan
- Requires home to be listed or under contract with agent to qualify
Insights
Rocket Mortgage's new bridge loan product strategically targets equity-rich homeowners, potentially boosting purchase mortgage volume amid market constraints.
Rocket Mortgage's launch of bridge loans represents a calculated strategic move to stimulate purchase mortgage activity in a challenging market environment. With the average homeowner sitting on approximately
The timing is particularly strategic given current market dynamics. Persistent inventory constraints and elevated home prices have created significant hurdles for move-up buyers who need to sell before purchasing. By allowing homeowners to access equity before selling, Rocket removes a critical financing gap that has been preventing transactions from occurring.
From a competitive positioning standpoint, this product addresses a significant pain point not universally served by all mortgage lenders. The requirement that customers must use Rocket for their purchase mortgage creates an effective customer acquisition and retention mechanism, potentially boosting purchase loan volumes – the holy grail in mortgage lending, especially when refinance activity remains subdued due to higher interest rates.
The six-month interest-only period represents a calculated risk assessment by Rocket, reflecting confidence in reasonable home selling timeframes while balancing customer affordability. The qualification requirements – having the home listed or under contract with a listing agent – creates a natural risk mitigation mechanism against speculation.
This product launch aligns with Rocket's broader strategy of removing friction from homeownership transitions, similar to their earlier RocketRentRewards program. Both initiatives demonstrate the company's focus on creating mortgage solutions that address specific market barriers rather than simply competing on rate, which is critical for maintaining margins in a competitive lending environment.
Homeowners have on average,
With high home prices and tight housing inventory, many buyers struggle to compete without first selling – leading to delays and missed opportunities. Yet the average homeowner has
"Buying and selling a home at the same time can be one of the most stressful parts of the journey," said Bill Banfield, Chief Business Officer and Economist at Rocket. "Rocket Mortgage's new bridge loan alleviates this by helping people purchase on their terms – not the market's. It removes one of the biggest barriers to moving: immediate access to the equity in their current property. With this new flexibility, buyers can quickly and confidently secure their next home."
Many areas of the country remain highly competitive for buyers. In
Even in calmer markets, a bridge loan offers key advantages. Buyers avoid the hassle of double moves and temporary housing, while taking the time to secure the best offer on their existing property.
Rocket Mortgage's bridge loan gives clients up to six months to sell their home, with interest-only payments throughout that period. To qualify, clients must have their home listed, be under contract with a listing agent or have a guaranteed buyout agreement in place. The client must also have an associated Rocket Mortgage purchase loan to be eligible.
The bridge loan is part of Rocket's broader mission to Help Everyone Home by removing financial barriers and reimagining what's possible in the homeownership process. Earlier this year, Rocket Mortgage introduced RocketRentRewards, the first program to turn rent into real purchasing power. Qualified first-time buyers can earn up to
Visit www.rocketmortgage.com to learn more about bridge loans with Rocket Mortgage.
About Rocket Mortgage
The lender 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. Since its founding in 1985, Rocket Mortgage has closed more than
J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for both primary mortgage origination and servicing 22 times – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, has placed in the top third of Fortune's list of the "100 Best Companies to Work For" the list for 22 consecutive years.
For more information and company news visit RocketCompanies.com/PressRoom.
¹ Rocket Mortgage: 2024
² Redfin: Big City Comeback: Homebuyer Competition Is Rising Fastest in the
View original content to download multimedia:https://www.prnewswire.com/news-releases/rocket-mortgage-puts-purchasing-power-in-the-hands-of-clients-with-bridge-loans--enabling-homeowners-to-buy-now-sell-later-302489304.html
SOURCE Rocket Mortgage
FAQ
What is Rocket Mortgage's new bridge loan program and how does it work?
How much equity can homeowners access through RKT's bridge loan program?
What are the eligibility requirements for Rocket Mortgage's bridge loan?
How competitive is the housing market where RKT's bridge loans are being offered?
What advantages does RKT's bridge loan offer compared to traditional home buying?
