Purchase Plus helps put owning a home within reach.
Get A Base Credit Of $5,000
And Up To $2,500 More
30-Year Conventional Fixed Loan
Guidelines For This Loan
Residency
Buyer Status
Credit And Debt
Upfront 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 $7,500
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 $7,500
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 $7,500
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
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?
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
Purchase Plus is a 30-year conventional fixed rate mortgage that has some requirements meant to make buying a home affordable for more people.
- At least one person on the loan must currently live in one of these metro areas.
- At least one person on the loan must be a first-time home buyer – that means you haven’t been on the title of a property in the last 3 years.
You’ll also need a credit score of around 620 or better, and less than half your income going to pay debt.
Here’s what puts the “plus” in Purchase Plus:
- The home you buy can be anywhere in the U.S.
- You get a base grant of $5,000 that can be used toward your down payment or closing costs.
- Rocket Mortgage will contribute an additional 1% of the purchase price, up to $2,500.
- You get lower private mortgage insurance (PMI) pricing, which lowers your monthly mortgage payment.
If you think you meet requirements and guidelines for this loan, we encourage you to apply or talk to us. A Home Loan Expert will help you know if Purchase Plus is your best option.