![]() The company generates loan production from web centers located in Detroit, Cleveland and Phoenix. Rocket Mortgage moved its headquarters to downtown Detroit in 2010. Rocket Mortgage closed $351 billion dollars of mortgage volume across all 50 states in 2021. In late 2015, it introduced the first fully digital, completely online mortgage experience. Homeowners can connect with Rocket Mortgage's Home Loan Experts at 80 to learn more about this product.ĭetroit-based Rocket Mortgage, the nation's largest home mortgage lender and part of Rocket Companies (NYSE: RKT), enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. "Rocket's talented technology, product strategy and capital markets team members came together quickly to develop this important mortgage product, demonstrating the power of the tech platform at Rocket Companies," Walters said. Consumers looking for smaller loan amounts can secure $2,000 to $45,000 from sister company Rocket Loans. This new product fits well into the Rocket platform, providing a financial solution no matter the need. Homeowners can access $45,000 to $350,000 of their home's equity in 10- or 20-year term, fixed-rate loans – while maintaining at least 10% equity in their home. The report also showed that credit card balances in Q1 were $71 billion higher than in 2021. ![]() At the same time, the country's total household debt stood at $15.84 trillion as of Q1 2022 – $1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic – according to a report from the Federal Reserve Bank of New York. In total, Americans have nearly $28 trillion in home equity, according to the Federal Reserve. "In the current market, short-term interest rates have risen sharply - making it much harder to pay off credit card debt. With our new home equity loan, clients can improve their lives by having a payment they can more comfortably afford." "Our goal is to consistently create financial products that help our clients achieve their goals," said Bob Walters, CEO of Rocket Mortgage. This combination has consumers looking for options to make their monthly payments more manageable. ![]() 1, 2022 /PRNewswire/ - Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today introduced a home equity loan to give Americans one more way to pay off debt that has risen along with inflation.Īmericans are grappling with high credit card bills – driven by a combination of rising prices, and record-high credit card rates resulting from the Federal Reserve's aggressive Fed funds rate increases. More information about the Alexa command can be found here.- New loan option could be the perfect way to manage inflation and rising debt levels -ĭETROIT, Aug. The company currently employs 17,000 people at Quicken Loans and its Family of Companies throughout Detroit, as well as web centers in Cleveland and Scottsdale. Quicken Loans is the nation’s second largest retail home mortgage lender, closing more than $400 billion of mortgage volume across the U.S. “Our outstanding Rocket Mortgage technology team in Detroit developed this new skill for Alexa and they have shown once again why they are the elite FinTech development group in the country.” “Through proprietary technology like Rocket Mortgage, Quicken Loans continues to deliver radical simplicity and crystal-clear transparency for all homebuyers and those looking to refinance their existing homes,” says Jay Farner, Quicken Loans’ CEO. Using the new Alexa command, clients can now review their account details including loan balance, monthly payment amounts, due dates, learn current interest rates for Quicken Loans mortgage programs, and make monthly payments with a secure voice command. Millions of Detroit-based Quicken Loan’s clients can now make their monthly Rocket Mortgage payment with the sound of their voice, utilizing a newly created skill developed for the Amazon Alexa. ![]()
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