Definition: Rocket mortgage near you refers to a type of loan that allows homeowners to purchase homes without making monthly payments by purchasing them with a sum of money directly deposited in a bank account. This can be done through several methods, such as direct deposit or the use of a prepaid debit card. The term "rocket" is often used as an analogy for this type of loan because it resembles how money can move quickly and efficiently from one source to another by flying into a rocket-like formation. The concept of using a credit score to determine eligibility for a mortgage without monthly payments is similar, but it is not directly related. In summary, the word "rocket mortgage near you" refers to homeowners who purchase homes with a sum of money deposited in a bank account directly after making a loan offer through a direct deposit or pre-paid debit card. This can be done through various methods such as direct deposit, prepaid debit cards, and other financial instruments.
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