The process of buying and selling a home is unnecessarily time-consuming, stressful and expensive for homeowners. A majority of homeowners have to sell their house in order to tap their hard-earned equity to buy their next home. As a result, many end up moving twice, living in short-term rentals, or watching contracts fall through due to financing contingencies. Sound ridiculous? We agree.
After experiencing these frustrations first-hand, our team founded Calque to design a better way. We re-imagined what the home buying and selling process could look like if we put consumers’ needs first and partnered with local lending experts to help them make the best decisions.That’s how we got started, and that’s our mission: to work with community lenders and local real estate agents so consumers can buy and sell real estate on their terms with a simpler, less risky, and less stressful home purchase process.
We only win when you win. Whether you’re a consumer, an agent, or a lending partner, we’ve carefully designed our processes so our incentives are always aligned with yours. We don’t make money by buying consumers’ houses for below-market rates. We don’t charge agents fees or interfere with agents’ commissions, and our transaction volume is directly tied to our lending partners’ success.
Unlike our competitors who often profit by reselling consumers’ houses for more, cutting agents out of the process or charging fees, and competing with their affiliated lenders for purchase business, Calque does it a different way. We pioneered a new business model founded on partnership and the principle that we will only win when you win.
Calque is a fintech company that partners with community lenders so they can offer consumers innovative home loans. Calque provides homeowners with a Purchase Price Guarantee (i.e., a backup offer on their existing home). This backup offer is rarely executed as most customers sell their home on the open market for more. However, having the backup offer in place enables our lending partners to write a non-contingent loan on the next home as if the current home has already sold. This loan underwriting modification simplifies the homebuying process for homeowners, agents, and loan officers from start to finish.
Many of our competitors use business models that are less cost effective for homeowners. With iBuyers, the original house is purchased for below market rates so the consumer can get access to cash quickly. With PowerBuyers, one of the homes is bought and sold twice to enable the buy before you sell experience. However, this means homeowners are paying duplicate closing costs, and in some instances, extra fees to lease the new home from the company until the original home sells. These methods are expensive for homeowners and complicated for agents.Calque designed a better way by working with local lenders to create a simpler, more cost-effective loan solution that fixes the problem at the root—the mortgage.