Rocket Mortgage, the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume.
After getting an appraisal on the home, homeowners can access between $45,000 and $350,000 of their home’s equity in a 10- or 20-year, fixed-rate loan, while maintaining at least 10% equity in their home, Rocket said Monday.
Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions.
“In the current market, short-term interest rates have risen sharply – making it much harder to pay off credit card debt,” details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com