Rocket Mortgage Canada Becomes Mortgage Lender - Helping Simplify the Homebuying Experience

Rhea-AI Summary

Rocket Mortgage Canada (NYSE: RKT) becomes a mortgage lender, offering a tech-driven, transparent, and fast homebuying experience, providing updates in real-time and multiple loan options for Canadians.

Positive

• Rocket Mortgage Canada's end-to-end technology platform aims to significantly speed up the homebuying process, providing transparency and peace of mind for clients.
• The company's focus on innovation and efficiency in the home loan experience is a positive sign for potential clients and investors.
• The ability to offer multiple loan options, including programs for first-time homebuyers, demonstrates Rocket Mortgage Canada's commitment to serving a diverse range of clients.
• Plans for expansion to additional provinces show potential for growth and increased market presence.

Negative

• None.

Canada's newest lender will offer end-to-end technology platform, ensuring transparency and speed throughout every step of the homebuying process

WINDSOR, ON, July 25, 2023 /PRNewswire/ -- Rocket Mortgage Canada, a digital mortgage broker and part of Rocket Companies (NYSE: RKT), today announced it has also become a mortgage lender – with the goal of helping Canadians easily navigate the complex homebuying journey. To immediately impact the mortgage process, Canada's newest lender will offer a proprietary, tech-driven experience which will help clients close on their home significantly faster than if they used the slower, more traditional paper-heavy process.

Homebuyers and homeowners using Rocket Mortgage Canada's lending services will experience transparency like never before, with the ability to see the progress of a loan and the next action to be taken in real-time. Clients will be able to view updates at every step of the process through a digital portal, providing peace of mind that necessary documents are uploaded, tasks are completed and the loan is on the way to closing. These regular and timely insights will give Canadians clarity and confidence while making one of life's largest financial decisions – buying a home.

"The Rocket Mortgage brand is synonymous with innovation. For too long Canadian homebuyers have endured an inefficient and old way of financing a home that we are eager to transform," said Hash Aboulhosn, President of Rocket Mortgage Canada. "As a lender, we are now able to impact every part of the home loan experience – from working with a mortgage agent to find the right mortgage for you, to easily submitting the application, through approval and closing. Because of this, our clients will have the best journey possible and get the keys to their new home quickly."

The company is building on its mission to create certainty and simplicity for homebuyers by providing multiple loan options to fit clients' unique homebuying journey. These include programs offered with first-time homebuyers in mind, such as options to purchase a home for as little as 5% down. In addition to providing a home loan, the company can match clients with a real estate agent, an insurance provider, a lawyer and more.

Rocket Mortgage Canada will also remain a broker and will continue offering options from its other valued lender partners – driving value for consumers by connecting homebuyers and homeowners with the best mortgage solution for their individual circumstance.

Rocket Mortgage Canada is currently offering its own mortgage products in Ontario, where the company is headquartered, and plans to quickly expand to additional provinces. Rocket Mortgage Canada will continue to broaden its programs and services to serve Canadians throughout the homeownership journey.

For more information, visit www.RocketMortgage.ca.

About Rocket Mortgage Canada
Rocket Mortgage Canada is a digital mortgage broker and lender and a part of Rocket Companies (NYSE: RKT). Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, LLC, one of the largest mortgage lenders in the U.S. Founded in 2020, Rocket Mortgage Canada aims to transform and modernize the mortgage experience in Canada by providing a streamlined process for individuals looking to purchase a home or refinance their mortgage. Rocket Mortgage Canada's mortgage agents aim to deliver the highest level of client service. For more information, or to apply for a mortgage, visit RocketMortgage.ca.

View original content:https://www.prnewswire.com/news-releases/rocket-mortgage-canada-becomes-mortgage-lender--helping-simplify-the-homebuying-experience-301884734.html

SOURCE Rocket Mortgage Canada

FAQ

What is Rocket Mortgage Canada's goal with the new lending services?

Rocket Mortgage Canada aims to help Canadians easily navigate the complex homebuying journey by providing a tech-driven, transparent, and fast homebuying experience.

What kind of updates will clients be able to see in real-time?

Clients will be able to see the progress of a loan and the next action to be taken, providing peace of mind that necessary documents are uploaded, tasks are completed, and the loan is on the way to closing.

What loan options will Rocket Mortgage Canada provide?

Rocket Mortgage Canada will provide multiple loan options, including programs for first-time homebuyers, such as options to purchase a home for as little as 5% down.

Where is Rocket Mortgage Canada currently offering its own mortgage products?

Rocket Mortgage Canada is currently offering its own mortgage products in Ontario, where the company is headquartered, and plans to expand to additional provinces.