InstaMortgage, a tech-driven mortgage lender licensed in 26 states, has partnered with Calque to offer a “Trade-In Mortgage” for mortgage lending. The product empowers homeowners to use the equity in their current home to buy their next home.
Unlike other buy-first mortgage lending solutions, homeowners can choose their own real estate agent and work with InstaMortgage to make a new-home purchase using a conventional 80% loan without selling their existing home first. Using the Trade-In Mortgage, a home buyer can make a non-contingent offer that is as good as cash on a new home in today’s increasingly competitive real estate market.
“InstaMortgage identified Calque as an innovative solution for a homebuyer in a tight market,” says Shashank Shekhar, founder and CEO of InstaMortgage. “With home equity at an all-time high, homeowners can leverage their current equity with a mortgage product like the Trade-In Mortgage to buy their next property. Homeowners can purchase and move into their new home before selling their existing one. It’s that simple.”
“Calque found an ideal partner in InstaMortgage,” comments Peter Kallodayschsack, head of operations at Calque. “We were looking for a mortgage company committed to putting the customer first. The Trade-In Mortgage provides a far superior homebuying experience for homeowners that want to leverage the equity in their existing home to buy their next home.”
