Homeowners have on average, $181,000 in equity. This new product helps them access it before transitioning to a new home
DETROIT, June 24, 2025 /PRNewswire/ — Rocket Mortgage, the nation’s largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today announced the launch of bridge loans – a strategic solution designed to help buyers wrestle back control in today’s competitive housing market. This new product allows current homeowners to use equity to compete shoulder-to-shoulder with cash buyers – allowing them to purchase their next primary residence before selling their current one. This provides both financial flexibility and eliminates the uncertainty and reluctance of home sellers that often comes with so-called ‘contingent’ offers.
With high home prices and tight housing inventory, many buyers struggle to compete without first selling – leading to delays and missed opportunities. Yet the average homeowner has $181,000 in untapped equity, a powerful resource to make a strong offer.¹ Rocket Mortgage’s bridge loan unlocks that equity upfront, providing funds for a down payment or closing costs in the interim.
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“Buying and selling a home at the same time can be one of the most stressful parts of the journey,” said Bill Banfield, Chief Business Officer and Economist at Rocket. “Rocket Mortgage’s new bridge loan alleviates this by helping people purchase on their terms – not the market’s. It removes one of the biggest barriers to moving: immediate access to the equity in their current property. With this new flexibility, buyers can quickly and confidently secure their next home.”
Many areas of the country remain highly competitive for buyers. In San Jose, for example, 67.1% of homes sold above asking this February. Oakland, San Francisco and Newark were not far behind with more than half of all properties selling for more than the list price.²
Even in calmer markets, a bridge loan offers key advantages. Buyers avoid the hassle of double moves and temporary housing, while taking the time to secure the best offer on their existing property.
Rocket Mortgage’s bridge loan gives clients up to six months to sell their home, with interest-only payments throughout that period. To qualify, clients must have their home listed, be under contract with a listing agent or have a guaranteed buyout agreement in place. The client must also have an associated Rocket Mortgage purchase loan to be eligible.
The bridge loan is part of Rocket’s broader mission to Help Everyone Home by removing financial barriers and reimagining what’s possible in the homeownership process. Earlier this year, Rocket Mortgage introduced RocketRentRewards, the first program to turn rent into real purchasing power. Qualified first-time buyers can earn up to $5,000 in lender credits, or 10% of their past year’s rent, toward closing costs.