Government products

FHAFHA StreamlineVAVA IRRRL
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15-, 20-, 25-, and 30-year fixed, and 5-year adjustable

VA

Help qualified veterans, service members, and their spouses take advantage of their benefits.

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Eligibility guidelines

580

Min. credit score

0%

Min. down payment

Additional product features

Reduce

interest

rates

Temporary Buydown

Lower your clients’ interest rate1 for the first 1-3 years of their loan.

  1. Build stronger relationships with clients and real estate agents by offering initial interest rate relief in a tough purchase market.
  2. Get more ways to fund the buydown. Real estate agents, home sellers, builders, or correspondent lenders can contribute.

Every partner. Every time. No exceptions. No excuses.

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1Additional terms and conditions may apply.


VA: In order to qualify for a VA loan, an eligible veteran must be the main borrower on the loan. Eligible veterans are classified as either active duty (a veteran who is currently active in one of the five military branches or currently participating in the Reserves or National Guard) or retiree-discharged (a veteran who is honorably discharged from the military, Reserves or National Guard). Minimum service requirements vary based on service dates. Spouses of veterans are eligible as long as they’re classified as a “surviving spouse,” which requires that they’re a not-remarried surviving spouse of a veteran who died in active duty or from complications from service-related injuries. The VA will designate Dependents Indemnity Compensation (DIC) to valid “surviving spouse” claims. DIC designation from the VA should be obtained prior to application. Only surviving spouses collecting DIC are eligible to obtain a VA loan.


Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.


Temporary Buydown: The 3-2-1 temporary rate buydown option and the ability for the buydown to be split and funded by two parties (sellers, builders or real estate agents) is available for clients who lock their rate on or after May 9, 2023. Builder consent and funding is only applicable if they are the seller of the home. Wholesale brokers and clients cannot cover buydowns. Clients choosing a 3-2-1 temporary buydown are eligible to receive an effective rate reduction of 3% for the first year of the mortgage, 2% for the second year and 1% for the third year. Other temporary buydown options are available. Temporary buydowns are eligible for primary residences and second homes for conventional loans and only primary residences for government loans. The 3-2-1 temporary buydown is not available for FHA loans. Buydown funds may not be redeemed for cash or credit and are nontransferable. The new buydown features cannot be retroactively applied to any loans in process or closed loans. Program is subject to changes or cancellation at any time at the sole discretion of Rocket Mortgage. Additional restrictions/conditions may apply. This is not a commitment to lend.

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