homebuyer

Rocket Launches Credit Card With Homebuyer Rewards

Posted on by TMN Editor
Leaders at Rocket Companies have debuted a credit card with cashback rewards designed for homebuyers. The Rocket Visa Signature Card is the first credit card with rewards created for this purpose, Rocket leaders said in a press release. “Every day, consumers tap their credit card to refill their gas tank, stock up on groceries or pay for any number of other purchases. Now, those transactions can unlock the dream of homeownership for millions of consumers across the country,” said Haroon Mokhtarzada, co-founder and CEO of Rocket Money. “We are proud to offer Americans simple and achievable ways to invest in their financial freedom, whether it’s budgeting with Rocket Money, or redeeming credit card points toward their mortgage down payment or…

Could Homestead Exemption Move Needle For First-Time Buyers?

Posted on by TMN Editor
As first-time and lower-income buyers are being squeezed out of bidding wars against cash-rich investors, the homestead exemption could help combat take over by Wall Street, columnist and investment professional Conor Sen argued in Bloomberg. FHFA is attempting to address this issue by awarding a higher percentage of federal-backed mortgages to low-income households or for homes in minority communities. But Sen suggested that goal, while admirable, might not actually lead to major change and suggested that relying on the homestead exemption might prove more fruitful. The homestead exemption is a legal exemption that can shield owners from property taxes, but only for people actually living in the home. Sen argues that local governments can help homebuyers by increasing the amount…