Rocket Cash Pumps $2 Million Into Detroit Homebuyer Push

Rocket Community Fund and LISC expand matched-savings and coaching program to help income-qualified Detroiters become homeowners.

Published on Feb. 24, 2026

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Rocket Community Fund and the Local Initiatives Support Corporation (LISC) have committed $2 million to expand the Rocket Wealth Accelerator, a program that provides matched-savings and financial coaching to help income-qualified residents in Detroit, Flint, Cleveland, and Toledo build emergency savings, improve credit, and save for down payments on homes.

Why it matters

The program aims to address long-standing racial wealth gaps by providing financial tools and guidance to help low-income households, particularly people of color, achieve stable homeownership - a key step toward building generational wealth.

The details

The new funding will allow the program to serve over 800 additional participants and provide financial coaching to around 3,500 people over the next three years. Participants work one-on-one with coaches at LISC's Financial Opportunity Centers to create budgets, pay down debt, improve credit, and set savings goals. The Rocket Wealth Accelerator offers matched savings of up to $500 for long-term goals like buying a home and up to $300 for short-term or emergency savings.

  • The Rocket Wealth Accelerator program was recently expanded with an additional $2 million in funding.
  • The program aims to serve over 800 additional participants and provide financial coaching to around 3,500 people over the next three years.

The players

Rocket Community Fund

A philanthropic arm of Rocket Companies that focuses on community development and economic empowerment initiatives.

LISC

The Local Initiatives Support Corporation, a national nonprofit that invests in underserved communities.

Laura Grannemann

Executive Director of the Rocket Community Fund.

Mary Sheffield

The Mayor of Detroit.

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What they’re saying

“Our mission at Rocket Community Fund is to help families achieve stable homeownership so they can lead more prosperous lives.”

— Laura Grannemann, Executive Director, Rocket Community Fund (The Detroit News)

“Wealth generation starts with the basics, such as building savings, getting rid of debt and improving credit scores.”

— Mary Sheffield, Mayor of Detroit (The Detroit News)

What’s next

The program is open to income-qualified residents who can connect with a local Financial Opportunity Center partner to check eligibility and map out next steps. In Detroit, SER-Metro Detroit, Wayne Metro, and the International Institute of Metropolitan Detroit are among the partner sites handling financial coaching and matched-account setup.

The takeaway

The Rocket Wealth Accelerator program provides a practical, community-driven approach to addressing racial wealth gaps by empowering low-income households, particularly people of color, with the financial tools and guidance needed to achieve stable homeownership - a critical step toward building generational wealth.