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Rocket Mortgage, Bank of America highlight grants for first-time buyers
Rocket RentRewards lets renters apply up to 10% of their rent toward closing costs, capped at $5,000, while Bank of America offers closing-cost grants up to $7,500 and down-payment assistance up to $10,000 in some states.
Yahoo Finance compiled a list of mortgage lenders it says are strong options for first-time home buyers in August 2026, emphasizing lender programs that can reduce upfront costs and fees.
Rocket Mortgage stood out in part because it offers Rocket RentRewards, which lets current renters apply up to 10% of what they pay in rent to closing costs, up to $5,000. The story also points to its ONE+ program, which provides a 2% grant that can allow a first-time buyer to make a 1% down payment with a conventional loan.
The article also highlights Bank of America mortgage programs for first-time buyers, including grants of up to $7,500 for closing costs and up to $10,000 in down payment assistance for qualified borrowers in many, but not all, states. It notes that Bank of America does not publish minimum credit score requirements and that qualifying borrowers may need to enroll in an autopay or draft-of-payments setup, with certain existing customers potentially eligible for an origination fee or interest rate deduction.
Yahoo Finance adds that Rocket Mortgage’s customer satisfaction performance is tied to the J.D. Power 2025 U.S. Mortgage Origination Satisfaction Study, and it includes a comparison point for Bank of America’s sample mortgage rates based on a 740 or higher credit score versus a national average of 715 cited via FICO. It also mentions a separate home-buyer program for medical professionals that allows lower down payments and excludes student loans from debt limits.