Skip to main content

Rocket Launches Rocket Rewards

Nov 01, 2022
Rocket Companies Logo
Staff Writer

Nation's largest lender is showcasing a loyalty program that offers homebuyers savings on closing costs.

KEY TAKEAWAYS
  • Clients can stack up reward points for the program by completing a number of activities, such as watching informative videos available on the Rocket Mortgage learning center.
  • New rewards customers and existing customers will currently receive a 7,500-point welcome bonus, which is equivalent to $75.

Rocket Companies today released Rocket Rewards, a loyalty program empowering consumers to accrue points that can be redeemed toward various financial transactions across the Rocket platform. 

With the launch of the first phase of the program, homebuyers can use reward points to save money on their closing costs, if, of course, they're financing their home purchase through Rocket Mortgage.

Clients at any phase of the home buying journey – even those months away from beginning the search for a home – can start gaining rewards by completing simple tasks. For example, those who create a free Rocket account and visit the rewards page or those with an existing account who complete their first rewards activity will currently receive a 7,500-point welcome bonus, the equivalent of $75, that can be applied to savings on closing costs.

Clients can also stack up reward points by completing a number of activities, including reading educational articles, watching informative videos available on the Rocket Mortgage learning center or using a mortgage calculator. 

Rocket plans to expand the program in the coming months with new ways to bank points and additional redemption opportunities.

"Phase one of Rocket Rewards empowers consumers to gain knowledge and understanding of the home buying process while simultaneously accruing points, and ultimately money, that can help reduce costs when they are ready to buy a home," said Jenn Steeves-Kiss, chief experience officer for Rocket Central. "What's most exciting to me is that we are just scratching the surface of what's possible with a powerful rewards program inside the Rocket ecosystem – whether that is finding innovative ways to provide discounts toward personal loans, free premium Rocket Money subscriptions or even money off the installation of solar panels."

This is just Rocket’s latest client-focused program from the company, following their announcement of Inflation Buster, a program that reduces a home buyer's mortgage payment for the first year of their loan – providing some flexibility for the expenses that come with homeownership, especially the costs associated with inflation.

“Rocket Companies is known for delivering exceptional client service and the introduction of Rocket Rewards continues that trend – showing our appreciation for clients by offering incentives at various points throughout their financial journey," said Jay Farner, vice chairman and CEO of Rocket Companies. "We know not every client is ready to get a mortgage with us at this moment but, by banking rewards that can build over time, we are delivering a value-add no other lender in our space can match."

About the author
Staff Writer
Sarah Wolak is a staff writer at NMP.
Published
Nov 01, 2022
FED Cuts Funds Rate By 25 bps

Federal funds rate lowered to a target range of 4.50%-4.75%.

Nov 07, 2024
UWM Profits Decline Sharply In Q3 2024

UWM CEO Ishbia says the declining fair value of MSRs had an impact

Nov 07, 2024
Early Voters Flag U.S. Economy As Top Issue

More Americans think mortgage rates will fall if Trump wins

Nov 04, 2024
Freddie Mac's Q3 Earnings Boost Net Worth To $56 Billion

Lower rates usher in more purchase and refinance activity

Oct 30, 2024
HUD Pledges $12 Million To Boost Housing Affordability

Grant funding from HUD’s Self-Help Homeownership Opportunity Program (SHOP) enables eligible organizations to acquire land, enhance infrastructure, and build housing

Oct 30, 2024
Insurance Crisis Hits Lenders' Bottom Lines

While monthly principal, interest, and property tax obligations are up an average 15-17% since the beginning of 2020, the average monthly property insurance payment is up a staggering 52% over that same period.

Oct 30, 2024