—Customers Can Use Their Home Equity to Purchase New Home Before Selling—
Augusta Mortgage Company, a local leader for end-to-end mortgage solutions, has partnered with Calque, to launch The Trade-In Mortgage™ in Georgia. Augusta Mortgage now offers a buy-before-you-sell program to empower borrowers to leverage their unprecedented home equity to purchase a new home before selling their old one.
This provides customers with convenience and a major bidding advantage given low housing inventory and stubbornly high home prices by allowing them to submit non-contingent offers.
Through this collaboration with Calque, Augusta Mortgage finds one more avenue to empower their customers to reach their dreams of a new home. Now, Augusta Mortgage can provide better loan solutions to buyers who currently own a home, enabling these buyers to qualify for their next home with a lower debt-to-income ratio and secure better terms. Taken together, this feature allows simultaneous buyers to have the peace of mind of a backup offer and the leverage they need to make more attractive offers.
In a competitive market, many retail purchasers who already own a home can find themselves at a disadvantage compared to investors and larger entities who can make all-cash bids. With Calque, Augusta Mortgage empowers homeowners and consumers to use their equity to level the playing field and compete and win their bids without onerous bridge loans or moving out before they sell.
Augusta Mortgage Company prides itself on giving personalized one on one service to its customers while providing specialized solutions for each buyer’s needs and desires. “With constantly increasing home values, our partnership with Calque allows us to help our customers get into their new home. Buyers can now access the equity from their current home up front and use it in the way that is most advantageous for them. Just as importantly, they will more easily meet the debt-to-income requirements of their new purchase and can get their purchase offer accepted because there is no contingency for selling their home,” said Kevin McDougal, President at Augusta Mortgage Company.
“The opportunity to collaborate with a local leader like Augusta Mortgage and offer The Trade-In Mortgage is exciting for us,” said Dan Mugge, chief operating officer at Calque. "With home equity reaching record levels, The Trade-In Mortgage offers a solution for buyers struggling with limited inventory and crowded markets. Working with a community-minded leader like Augusta Mortgage helps us empower real people to meet their dreams and showcase how Calque can help local lending experts across the nation empower their buyers in this housing market.”
About Augusta Mortgage
Established in 1976, Augusta Mortgage Company is Augusta’s oldest independent mortgage company. Utilizing the latest in technology, Augusta Mortgage Company can provide our customer’s loan approval within minutes of application and tailor the most appropriate and competitive services. The company offers all major loan programs including conventional, VA, FHA, and USDA. Augusta Mortgage Company also offers several programs designed to assist buyers of all backgrounds with a mortgage. The company has earned an excellent reputation for on-time closings and services that are readily available at the convenience of the customer.
About Calque
Calque partners with established community lenders to offer mortgage lending solutions that make the home purchase process simpler, less stressful, and more cost effective for homeowners. Mortgage products such as The Trade-in Mortgage™ streamline the entire home purchase process from start to finish by enabling consumers to submit non-contingent offers that function like cash offers, buy and move into their new home before selling their current one, use the accrued equity on their existing home to increase their down payment and reduce their monthly payments, prep their original home for sale after they’ve moved out, and stress less during the process.
Calque does not compete with lenders, but only utilizes best-in-class, FDIC-insured banks, credit unions, and mortgage banks in every state across the country. To learn more about Calque, visit http://calqueinc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240213654638/en/
Contacts
Alyson Austin
949-403-0484
alyson@gaffneyaustin.com
