What is the 1% down payment option offered by Rocket Mortgage?

The 1% down payment option offered by Rocket Mortgage was a program that allowed qualified homebuyers to finance a home purchase with as little as 1% down. Essentially, this program aimed to make homeownership more accessible to individuals who might not have the sizeable down payment typically required to secure a conventional loan. To support this low down payment, Rocket Mortgage partnered with Freddie Mac and offered the Home Possible Advantage program, which combined a 3% down mortgage with additional concessions from the lender. It enabled buyers to qualify for the loan with a smaller upfront investment while still meeting lending requirements. However, it's essential to note that program details and availability can change over time, so potential borrowers should verify the current offerings with Rocket Mortgage directly for the most up-to-date information.