Austin, Texas-based fintech’s flagship product, “The Trade-In Mortgage,” helps homebuyers make non-contingent gives and removes their present home from debt-to-income calculation.
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Calque — an Austin, Texas-based fintech that helps homebuyers make non-contingent gives by offering a assured backup supply on their present residence — continues so as to add to its roster of mortgage lender companions.
Along with permitting owners who wish to commerce as much as make non-contingent gives on their subsequent residence, Calque says its flagship product, The Commerce-In Mortgage, removes their present home from the debt-to-income (DTI) calculation when underwriting the acquisition mortgage on their subsequent residence. Owners can use a bridge mortgage or HELOC to faucet their fairness and make an even bigger down fee to keep away from paying for personal mortgage insurance coverage.
Calque isn’t a lender — all mortgages, bridge loans and residential fairness strains of credit score (HELOCs) are offered by the rising listing of lenders it’s partnered with nationwide.
On Thursday, Calque introduced that Mortgage Belief, a boutique mortgage dealer based mostly in Oregon, will supply The Commerce-In Mortgage to shoppers across the nation.
Darren Davidson
“Our partnership with Calque enhances our ability to meet our clients’ needs during home purchase negotiations,” Mortgage Belief President and Chief Working Officer Darren Davidson stated, in an announcement. “By utilizing The Trade-In Mortgage, our clients can leverage their accumulated equity to purchase their next home confidently and easily.”
Portland, Oregon-based Mortgage Belief can be licensed in Alabama, Arizona, California, Colorado, Connecticut, Florida, Idaho, Minnesota, Montana, New Mexico, North Carolina, South Dakota, Texas, Utah and Washington, and sponsors 14 mortgage mortgage originators, in line with data maintained by the Nationwide Multistate Licensing System (NMLS).
On July 30 Calque introduced a partnership with Platte River Mortgage Companions to supply The Commerce-In Mortgage in Colorado. Primarily based in Lakewood, Platte River Mortgage is just licensed in Colorado and sponsors six mortgage mortgage originators, in line with NMLS data.
Based in 2020 by Talroo govt Jeremy Foster, Calque appointed Michael Bremer, a former CoreLogic govt, as CEO in March.
Michael Bremer
“Platte River Mortgage has been providing superior investment and lending for more than 20 years,” Bremer stated in an announcement. “Their outstanding reputation and dedication to ensuring customer satisfaction make them the perfect partner for Calque.”
Different lender partnerships Calque has introduced this yr embrace:
Calque’s rivals embrace Knock, which offers bridge loans by way of accomplice lender and actual property agent channels. Knock introduced in June that lenders can combine the Knock Bridge Mortgage into their pre-qualification course of.
NFM Lending was the primary lender to make the most of Knock’s new utility program interface (API) to include the Knock Bridge Mortgage estimate into its mortgage officers’ workflow by way of an Embody plugin.
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