Rocket Mortgage

Rocket Mortgage - Save $2,000 on closing costs!
Posted on 08/30/2022
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Rocket Mortgage is making the home purchase and refinance experiences more rewarding. Right now, Pasadena Independent School District employees save $2,000 on closing costs and receive other special incentives.1 Work with your dedicated VIP banking team to find the right home financing solution for you and discover a variety of products and benefits available! Our fully online mortgage process is built to save you time.

 

Visit VIP.RocketMortgage.com/PasadenaISD or call (888) 327-2123 to get a complimentary Mortgage Review.

 

Product?

Benefit?

Qualification?

FHA Loan

An attractive option for home buyers with a few bumps in their financial history.

  • Credit score over 580
  • Can afford a 3.5% down payment
  • Must occupy the property within 60 days to qualify.
  • Must be your primary residence and must be appraised by an FHA-approved appraiser.

VA/USDA Loan

  • No down payment required
  • Lower interest rate compared to other loan options
  • In addition, you likely get 100% financing and do not pay monthly private mortgage insurance

 

  • For qualified veterans, service members and spouses

Rateshield Loan ™

90 days to shop for a home with a locked interest rate. If rates go up, your rate stays locked. If rates go down, your rate drops

 

Available on 30-year conventional, FHA and VA loans

Verified Approval Loan

Know exactly how much home you can afford and show the seller that you are a serious buyer with secure finances.

Based on an underwriter's comprehensive analysis of your credit, income, employment status, debt, property, insurance, and appraisal as well as a satisfactory title report/search

 

3% down Purchase Loan

  • Easier to get into a new home faster
  • Will not need a hefty 20% down payment
  • A credit score > 620
  • Contingent on the type of loan you choose

 

Cash Out Refinance Loan

Unlock cash from your home and use it:

  • To pay off any high-interest debt, which may improve your credit score.
  • For a home renovation, which can add value to your home

Credit score of at least 580

Debt-to-income ratio (DTI) of less than 50%

Must have equity in your home.

 

 

DISCLAIMERS:

1Clients will receive a lender credit of $2,000. This offer is only available to clients who lock their interest rate after June 1, 2022. This offer is only available to clients who call the dedicated benefit phone number or go through the dedicated benefit website, VIP.RocketMortgage.com/PasadenaISD, submit an application and close their loan through the Rocket Mortgage Home Loan Benefit Partner program. This offer cannot be retroactively applied to previously closed loans or previously locked loans. Offer does not apply to new loans submitted through a mortgage broker, non-agency jumbo loans, non-QM loans, C-product loans (Schwab), portfolio loans, Rocket jumbo loans, Rocket Pro Realtors, Rocket Pro Originators or team member loans. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Offer is nontransferable. This is not a commitment to lend. Additional restrictions/conditions may apply. Offer not valid with any additional discounts or promotions.

 

2The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.

3Participation in the Verified Approval program is based on an underwriter’s comprehensive analysis of your credit, income, employment status, assets and debt. If new information materially changes the underwriting decision resulting in a denial of your credit request, if the loan fails to close for a reason outside of Rocket Mortgage’s control, including but not limited to satisfactory insurance, appraisal and title report/search, or if you no longer want to proceed with the loan, your participation in the program will be discontinued. If your eligibility in the program does not change and your mortgage loan does not close due to a Rocket Mortgage error, you will receive the $1,000. This offer does not apply to new purchase loans submitted to Rocket Mortgage through a mortgage broker. This offer is not valid for self-employed clients. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Additional conditions or exclusions may apply.

4RateShield Approval is a Verified Approval with an interest rate lock for up to 90 days. If rates increase, your rate will stay the same for 90 days. If rates decrease, you will be able to lower your rate one time within 90 days. Please contact your Home Loan Expert for additional information. This offer is only valid on certain 30-year purchase loans. Additional conditions and exclusions may apply.