—Homeowners Can Tap Equity to Unlock the Door to Their Next Home—

Sparrow Mortgage, a mortgage broker operating in Florida, Georgia, Massachusetts, North Carolina, and South Carolina, has partnered with Calque to provide The Trade-In Mortgage^™. Together, they now offer a lending option that allows borrowers to use home equity to purchase a new property before selling their current one.

The Trade-In Mortgage, made possible by Calque’s guaranteed backup offer, provides a unique solution for individuals and families looking to purchase their next home. This innovative program allows borrowers to leverage their home equity for a substantial down payment, making it easier to qualify for a new home. By using their equity, borrowers can make non-contingent bids that are as competitive as cash offers, significantly increasing their chances of securing their dream home.

In a market plagued by high interest rates and rising home prices, homebuyers with contingent offers often face disadvantages compared to investors and other parties making all-cash bids. In partnership with Calque, Sparrow Mortgage enables consumers to use their equity to compete effectively with these all-cash offers. Together, Sparrow and Calque are transforming the lending process, addressing the challenges of contingent bids, and empowering homebuyers to make stronger, more competitive offers.

“Working closely with our agent partners, we hear all too often the disadvantage plaguing current homeowners in this market,” said Robert Foos, President of Sparrow Mortgage. “Removing that home sale contingency is not just a ‘nice to have,’ it’s a ‘must do’ in order to have a realistic chance to buy a home. By partnering with Calque, we’re giving our clients the ultimate cheat code to make their offer the winning offer.”

“Sparrow Mortgage is committed to finding the right loan product for every borrower, making them the perfect partner for Calque,” said Michael Bremer, CEO of Calque. “The Trade-In Mortgage simplifies the home buying process and assists buyers in securing their next home in a competitive housing market.”

About Sparrow Mortgage

Sparrow Mortgage began with a simple mission: to help individuals and families unlock the doors to their own homes. At their core is a team that recognizes the profound joy and significance of helping families receive the keys to their new home.

Sparrow Mortgage takes pride in their personalized approach. Understanding that each client has a unique story, a distinct dream, and individual needs, their seasoned mortgage professionals are committed to finding personalized mortgage solutions that align with their client’s aspirations.

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/20240822188032/en/