Purchase Plus helps put owning a home within reach
Get a base credit of $4,500
To reduce your upfront costs.
And up to $2,500 more
Rocket Mortgage will contribute an additional 1% of the loan amount, up to $2,500.
30-year conventional fixed loan
Payments spread over 30 years are lower, and your interest rate stays the same.
Guidelines for this loan
Residency
You must currently live in certain metro areas to be eligible. The home you buy can be anywhere in the U.S.
Buyer status
At least one person on the loan must be a first-time home buyer.
Credit and debt
A credit profile above 620 and less than 50% of your income going to pay debt.
Upfront costs
Will be around 6-12% of the loan amount. The program credit reduces these costs.
Comparing Purchase Plus
Income cap
Credit toward upfront costs
Mortgage insurance
Explore Loan Details
Purchase Plus
Income cap
Credit toward upfront costs
Up to $7,000
Learn MoreMortgage insurance
Reduced pricing
Learn MoreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $7,000
Learn moreMortgage insurance
Reduced pricing
Learn more/home-loans/one-plus
Learn moreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $2,500
Learn moreMortgage insurance
Reduced pricing
Learn morehttps://www.rocketmortgage.com/learn/homeready
Learn moreONE+ by Rocket Mortgage®
Income cap
Credit toward upfront costs
Up to $7,000
Learn MoreMortgage insurance
Reduced pricing
Learn MoreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $7,000
Learn moreMortgage insurance
Reduced pricing
Learn more/home-loans/one-plus
Learn moreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $2,500
Learn moreMortgage insurance
Reduced pricing
Learn morehttps://www.rocketmortgage.com/learn/homeready
Learn moreHomeReady® & Home Possible®
Income cap
Credit toward upfront costs
Up to $7,000
Learn MoreMortgage insurance
Reduced pricing
Learn MoreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $7,000
Learn moreMortgage insurance
Reduced pricing
Learn more/home-loans/one-plus
Learn moreIncome cap
Yes
Learn moreCredit toward upfront costs
Up to $2,500
Learn moreMortgage insurance
Reduced pricing
Learn morehttps://www.rocketmortgage.com/learn/homeready
Learn moreGet more in-depth details
Articles that give you more information about this loan and explain how mortgages work.
7-minute read
How special-purpose credit programs can help achieve homeownership
9-minute read
A guide to first-time home buyers programs, loans and grants
9-minute read
What is PMI? Private mortgage insurance defined and explained
10-minute read
What is a 30-year fixed mortgage?
7-minute read
How special-purpose credit programs can help achieve homeownership
9-minute read
A guide to first-time home buyers programs, loans and grants
9-minute read
What is PMI? Private mortgage insurance defined and explained
10-minute read
What is a 30-year fixed mortgage?
Frequently asked questions
Answers to questions about this loan we heard from people like you during research.
Purchase Plus has an income cap – also called an Area Median Income (AMI) requirement.
You can check your income using this look-up tool. But we encourage you to apply or chat with a Home Loan Expert. It’s the best way to find out which income guidelines apply to you. Even if your income doesn’t qualify, we could have other low down payment options for you.
Purchase Plus is a program; the mortgage you get with it will be a 30-year conventional fixed rate loan. So the interest rates for Purchase Plus are usually close to 30-year fixed rates.
If you haven’t been on the title of a property within the last three years, you can qualify as a first-time home buyer.
Yes, it’s possible to use some kinds of down payment assistance and still get the benefits of Purchase Plus. Our Home Loan Experts can figure out what you might be eligible for.
You can buy a multifamily property with up to four units. You’ll need to live in one of the units and it must be your primary residence.