The Austin, Texas-based fintech’s flagship product, Trade-In Mortgage, helps homebuyers make a non-contingent offer and remove their current home from the debt-to-income calculation.
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Calque, an Austin, Texas-based fintech company that helps homebuyers make non-contingent offers by providing guaranteed backup offers on existing homes, continues to grow its roster of mortgage partners.
Calque said that in addition to allowing homeowners looking to trade-in to make a non-contingency offer on their next home, its flagship product, The Trade-In Mortgage, can also remove their current home from the debt-to-income (DTI) calculation when underwriting it . Homeowners can use a bridge loan or HELOC to tap into their equity and make a larger down payment to avoid paying private mortgage insurance.
Calque is not a lender – all mortgages, bridge loans and home equity lines of credit (HELOCs) are offered by a growing list of lenders it works with across the country.
On Thursday, Kalk announced that Oregon-based boutique mortgage broker Mortgage Trust will offer trade-in mortgages to customers across the country.
Darren Davidson
“Our partnership with Calque enhances our ability to meet our clients’ needs during home purchase negotiations,” Mortgage Trust President and Chief Operating Officer Darren Davidson said in a statement. “By leveraging trade-in mortgages, our clients can leverage the savings they have accumulated assets to purchase their next home with confidence and ease.”
Mortgage Trust, headquartered in Portland, Ore., also operates in Alabama, Arizona, California, Colorado, Connecticut, Florida, Idaho, Minnesota, Montana, New Mexico , North Carolina, South Dakota, Texas, Utah and Washington state, licensed and secured 14 mortgage loan originators, according to records maintained by the National Multistate Licensing System (NMLS).
On July 30, Calque announced a partnership with Platte River Mortgage Partners to offer trade-in mortgage services in Colorado. Platte River Mortgage, based in Lakewood, is licensed only in Colorado and sponsors six mortgage loan originators, according to NMLS records.
Calque was founded in 2020 by Talroo executive Jeremy Foster and appointed former CoreLogic executive Michael Bremer as chief executive in March.
Michael Bremer
“Platte River Mortgage has been providing quality investments and loans for more than 20 years,” Bremer said in a statement. “Their excellent reputation and dedication to ensuring customer satisfaction make them the perfect partner for Calque ”
Other lender partners announced by Calque this year include:
Calque’s competitors include Knock, which offers bridge loans through a pipeline of partner lenders and real estate agents. Knock announced in June that lenders could include Knock bridge loans in their prequalification processes.
NFM Lending is the first lender to take advantage of Knock’s new application programming interface (API), integrating Knock Bridge loan estimates into its loan officers’ workflow through the Encompass plug-in.
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