If you have 30% or more equity in your current home, then the Knock Home Swap program may be just what you need to make moving less stessful and more convenient. And in a competitive market it allows you to have a stronger offer for buying your new home because it doesn't have to be contingent on selling your current house.
This program allows you to buy a new home BEFORE selling your old one! You basically get a 0% interest loan using the equity from your current house as collateral to buy the new one. It allows up to 6 months to sell your house after you buy the new one.
How much does it cost? Well, most lenders charge about a 1% loan origination fee to finance your mortgage. The Knock program charges 1.25%. So the cost is very minimal for all the convenience you receive. And it can save you tens of thousands of dollars compared to Offerpad or other iBuyers that provide similar convenience but require you to give up a large amount of your hard-earned equity.
Watch this short video to see 5 things you need to know
about Knock Home Swap. (There is no audio.)
How much does it cost? Well, most lenders charge about a 1% loan origination fee to finance your mortgage. The Knock program charges 1.25%. So the cost is very minimal for all the convenience you receive. And it can save you tens of thousands of dollars compared to Offerpad or other iBuyers that provide similar convenience but require you to give up a large amount of your hard-earned equity.
Watch this short video to see 5 things you need to know
about Knock Home Swap. (There is no audio.)
