A Better Way To Buy
…Before You Sell
*It’s free and only takes 5 minutes!
Experience More When You Buy Before You Sell With Us
More Success
Make non-contingent offers that are 4X more likely to win.
More Convenience
Buy your dream home now. Sell your current home when you’re ready.
More Confidence
List your home for a competitive price, and rest easy with a guaranteed backup offer from Calque.
How It Works
Two Great Ways To Buy Before You Sell
Pick the product that's right for you
Option 1: Contingency Buster
Option 2: Trade-In Mortgage
What do you need?
Quickly remove home sale contingencies for the lowest possible cost (psst, this is loved by clients who want low fees, are trying to win a bidding war, or have a buyer back out)
Unlock your equity to make a bigger down payment or pay off debt
How Fast Do You Need It?
48 business hours less
Typically 4-7 business days
Can you tap your Equity unlock?
PPG Amount
Minimum amount required to clear the home sale contingency plus closing costs
Varies by home and market
Pricing
$2,000 + 1% of the PPG*
*Lower PPGs = Lower Fees
$2,000 + 1% of the PPG + HELOC fee
Calque Resale Guarantee
Calque Resale Guarantee: If Calque purchases your house and resells it for more than the PPG, Calque will return the net profit to you once their expenses have been paid.
Why Buy Before You Sell With Us?
Buy and move before you sell
Choose your real estate agent
List and sell for full price
Eliminate home sale contingencies
Submit competitive offers 4X more likely to win
Stage and show an empty home
Protect your closing with a backup offer
Traditional Mortgage
Buy and move before you sell
Choose your real estate agent
List and sell for full price
Eliminate home sale contingencies
Submit competitive offers 4X more likely to win
Stage and show an empty home
Protect your closing with a backup offer
iBuyers
Buy and move before you sell
Choose your real estate agent
List and sell for full price
Eliminate home sale contingencies
Submit competitive offers 4X more likely to win
Stage and show an empty home
Protect your closing with a backup offer
Our BBYS
Buy and move before you sell
Choose your real estate agent
List and sell for full price
Eliminate home sale contingencies
Submit competitive offers 4X more likely to win
Stage and show an empty home
Protect your closing with a backup offer
FAQs
What is The Trade-In Mortgage™?
The Trade-In Mortgage™ is an innovative home loan product that enables homeowners to buy a new home before selling their current home. We use a new process that allows you to use the equity in your current home before you even list it on the market. This simplifies and streamlines the home-buying process and reduces stress by empowering you to submit competitive non-contingent offers that are like cash on new home prospects, buy and move into your new home before you sell your current one, and make repairs and prep your original home for sale after you have moved out so it always looks show-ready and sells for the best price. Through our program, you can work with your preferred real estate agent so you have peace of mind that you are getting a competitive sales price for your home. Our goal is to help you buy and sell your next home on your terms.
How does it work?
The Trade-In Mortgage™ makes the home purchase process more convenient and affordable and can be broken down into four simple and easy steps:
- Get pre-approved quickly and easily: Fill out this 5-minute questionnaire on our website, and our partner, Calque, will send you a purchase price guarantee (PPG) within 3-5 business days. The PPG assures you that if your house doesn’t sell on the open market within a specified timeframe (usually 150 days in most markets), Calque will buy it for a mutually agreed upon, fair price. Once you accept the PPG, we will work with you to get pre-approved for your new home loan.
- Make competitive offers with confidence: Start submitting appealing, non-contingent offers that are like cash on new home prospects in today’s increasingly competitive real estate market. Once your offer is accepted on your new home, we will finalize the underwriting process and use the equity you’ve already accrued in your original home to give you the down payment for the new home and a conventional loan on the new property.
- Move and prep your original home for sale: Move into your new home and then make repairs and stage the original home for sale. During this time, you will not be out-of-pocket for two mortgages at once. While you will need to process monthly payments on both homes, The Trade-In Mortgage™ allows you to use the equity in your current home to make the payments on that home. When your original home is ready for sale, you and your real estate agent list it on the open market.
- Sell your original home and save: Sell your original house on the open market for maximum value. If you aren’t able to sell and close on it within the time frame specified in the PPG (up to 150 days in most markets), Calque will buy it for the agreed upon price. Either way, you move forward with a conventional loan on your new home.
How much does The Trade-In Mortgage™ cost?
The cost to use The Trade-In Mortgage™ is made up of three fees: $2,000 flat fee to Calque, 1% of the Purchase Price Guarantee to Calque, and a Variable HELOC fee (if you choose to use the equity in your current home to make a down payment). Many consumers actually experience cost savings compared to the traditional home buying process. Most agents can help you negotiate a lower purchase price on your new home by leveraging a non-contingent offer, and for the small fee listed above, you avoid the potential costs of moving twice, short term rentals, and/or costly private mortgage insurance.
How do I get started and apply for The Trade-In Mortgage™?
Click here to get started. The questionnaire should take less than 5 minutes to complete.
Can I use my own real estate agent?
Absolutely.
Do I have to make two mortgage payments?
You will only pay two mortgages for a limited amount of time (up to 150 days in most markets). The Purchase Price Guarantee (PPG) is a guaranteed backup contract on your original house so you will only pay the mortgage on that home until it sells on the open market or until Calque purchases the home per the PPG, whichever comes first.
Importantly, all the mortgage payments you make on both homes go towards building your equity. In most states, you can use a second mortgage to tap the equity in your current home to make payments on that home; if you’re interested in this option, please talk to your loan officer for more information.
How does The Trade-In Mortgage™ compare to the traditional process?
- Win with non-contingent offers that function like all-cash offers. Submit non-contingent offers on new home prospects, positioning you as a competitive buyer in today’s increasingly crowded real estate market. Importantly, many real estate agents are able to leverage non-contingent offers to negotiate a lower purchase price.
- Buy and move into your new home before you sell your original one. This allows you to avoid the stress of trying to time the sale of your original home with the purchase of your new home, submitting contingent offers, or moving into a short-term rental while you look for a new home.
- Prep your original home for sale after you have moved out. This allows you to avoid the hassle of constantly cleaning and organizing your home to maintain show-readiness while you are living in it. Furthermore, many clients choose to take advantage of the vacancy to make repairs and stage their original home so that it sells for maximum value.
- Likely experience cost savings. For a small fee, you will move forward with a conventional loan on your new home without incurring the costs of moving twice, short-term rentals, and/or private mortgage insurance.
What happens if my original house doesn’t sell within the specified timeframe on the open market?
Our goal is to help you and your agent sell your original home for maximum value on the open market. However, we provide a back-up plan to help consumers who aren’t able to sell their homes on the open market in time. When you first apply for The Trade-In Mortgage™, our partner, Calque, will send you a purchase price guarantee (PPG) stating how much they will pay for your house if you aren’t able to sell and close on it within the specified timeframe (usually 150 days in most markets). In the small number of instances when a client’s original home doesn’t sell on the open market, our partner, Calque, buys it for the previously agreed-upon PPG.
Are there any limits to the type of property I can buy with The Trade-In Mortgage™?
The Trade-In Mortgage™ can be used to buy single family homes, condominiums with Fannie Mae and FHA approval, and townhomes and Planned Urban Developments (i.e., PUDs). All properties are subject to lender approval.
About Our Partner
Capital New York Home Advantage has partnered with Calque to bring you innovative ‘buy before you sell’ lending solutions. Calque is not a lender. Calque provides a backup offer on your current house called a Purchase Price Guarantee, and Capital New York Home Advantage provides your mortgage. Together, we empower homeowners to use the equity in their current house to buy and move into their next home before they sell, giving our clients more convenience, success, and confidence throughout the entire process.
NMLS #709537
