Rocket Mortgage on Tuesday unveiled RocketRentRewards, which the company says is the homeownership industry’s first offer to provide closing cost credits for renters.

Under the program, homebuyers who use Rocket Mortgage as their lender can earn 10% back on the last 12 months of rental payments, receiving up to $5,000 in lender credits toward closing costs.

With the national average rent at $1,800, that translates to $2,160 applied toward a client’s closing costs.

“This offer is deeply rooted in our mission to Help Everyone Home,” said Bill Banfield, Rocket’s chief business officer and economist. “Many renters feel like homeownership details ⇒

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