AUSTIN, Texas: Theory Mortgage, renowned for its rapid closing times in Oregon, has teamed up with Calque, a pioneer in facilitating buy-before-you-sell programs, to introduce a novel home financing option, The Trade-In Mortgage™, to the Oregon market.
This strategic alliance arrives at a critical juncture for homebuyers who are navigating a fiercely competitive market alongside volatile mortgage interest rates. Many homeowners currently possess significant equity, which could be the key to triumphing in bidding wars for new properties. However, leveraging this equity without first selling their existing home poses considerable challenges.
The Trade-In Mortgage™ aims to revolutionize the home buying experience by allowing homeowners to utilize their equity to place non-contingent offers, enabling them to purchase and move into their new residence prior to selling their old one. This initiative promises to simplify the transaction process and mitigate the financial burdens associated with moving, eliminating the need for interim bridge loans or contingent financing that often places buyers at a disadvantage.
Moreover, The Trade-In Mortgage™ offers a unique advantage during the loan underwriting phase by excluding the homeowner’s current property from the debt-to-income (DTI) ratio calculation. This facilitates a smoother transition between buying and selling properties, allowing homeowners to seamlessly transfer their equity while preserving their financial assets.
Brian DuVal, the owner of Theory Mortgage, emphasizes the client-focused approach of the firm, stating, “Our top priority is our clients, and we are dedicated to discovering the optimal mortgage solutions for them. The Trade-In Mortgage™ presents an innovative lending alternative that capitalizes on the substantial equity of their current homes, making the acquisition of their next residence a less daunting endeavor.”
Calque’s CEO, Michael Bremer, recognized Theory Mortgage as the perfect partner to roll out The Trade-In Mortgage™ in Oregon. “Despite the challenges posed by rising interest rates, homeowners who are contemplating relocation can leverage their accumulated equity to secure the most advantageous mortgage terms for their future homes. The Trade-In Mortgage™ could be a game-changer for Oregonian homeowners who might otherwise hesitate to make a beneficial move for their families due to the current economic climate.”
With this partnership, Theory Mortgage and Calque are set to offer a transformative solution that could reshape the landscape of home financing in Oregon.