Rate Drop Advantage Program Launched By Rocket Mortgage
By TYRONE TOWNSEND Leaders at Rocket Mortgage have launched a new program that will cover a sizable portion of closing costs for a refinance transaction if interest rates drop and their customer refinances within three years of purchasing a home. Applicants with credit scores as low as 580 will be considered, in contrast to other mortgage lenders who need a minimum of 620. Leaders at the company say this offers a choice for potential homebuyers with bad credit. John Perich, Director of Public Relations of Rocket Central, spoke with the Mortgage Note about the Rate Drop Advantage. “People might want to buy a house, and if you want to buy a house now, go ahead and get it,” Perich said.…