Interconnect Mortgage, based in Palm Beach Gardens, Florida, has partnered with Calque to offer ‘buy before you sell’ loan solutions in Florida, Georgia, South Carolina, Virginia, and Michigan. This collaboration combines the strengths and resources of both companies to deliver reliable mortgage products to borrowers.
In the current competitive housing market, homebuyers face the challenge of fluctuating mortgage interest rates. Many homeowners have significant equity in their current homes, which could enhance their bidding power for a new property. However, accessing this equity without selling their existing home is often complicated. To address this issue, Interconnect Mortgage is working with Calque to introduce The Trade-In Mortgage™.
The Trade-In Mortgage allows homeowners to use their current home equity to make non-contingent offers on new properties, facilitating a smooth transition to a new home without first selling their current one. This solution simplifies the home-buying process, avoiding the need for a bridge loan or contingent financing that could weaken a buyer’s position. It also enables homeowners to seamlessly transfer their equity between properties while preserving their financial stability.
Additionally, The Trade-In Mortgage and the Contingency Buster aid in home qualification by excluding the current house from the borrower’s debt-to-income (DTI) ratio during loan underwriting.
“Our goal is to offer the best mortgage solutions to our clients,” said Toni Taylor, President of Interconnect Mortgage. “The Trade-In Mortgage provides an innovative option that leverages home equity to make purchasing a new home less stressful.”
Michael Bremer, CEO of Calque, added, “We chose Interconnect Mortgage as our partner for The Trade-In Mortgage because they are well-equipped to help homeowners leverage their equity despite current high mortgage interest rates.”
