Knock HomeSwap Program - How It Works
How does the Knock Home Swap work? The Knock Home Swap™ empowers you to buy your new home prior to selling your old house on the market for maximum value. Here’s how it works:
1. We’ll get you fully underwritten for a new home loan with Knock including a down payment advance so you can start making offers fast.
2. Put down a winning offer on your dream home with no sales contingency, and move in right away. You’ll pay your new mortgage while we cover the old one.
3. We’ll advance up to $25,000 to get your old house ready for listing on the open market so it sells fast and for top dollar. When your house sells, you simply pay Knock back for the loan provided. It’s that simple!
If you'd like more information about this program, please contact me, your local Knock Certified Agent.
If you’re buying a home, you’re probably focused on the upfront costs: your down payment, interest rate, and purchase price. These costs will dictate how much you pay upfront and how much your monthly mortgage payments will be going forward. To aid your home search, you might create a budget around the estimated monthly mortgage payments you will be able to afford. While this is a good start to your purchase preparation, you won’t want to stop there. Making a home buying budget strictly based on the estimated monthly mortgage payments you can afford might put yourself in a difficult financial position down the road.
What cost catches buyers off guard?
Many home buyers – especially first-time buyers – don’t create an accurate budget for their purchase. They’ll take into account the down payment, the monthly mortgage payments, and maybe the monthly insurance costs; but one cost they won’t think of is the maintenance expenses. When you rent a...
Home prices were surging from 2000 through 2006. Homeowners were sitting back in their recliners watching their home value skyrocket to the heavens. It seemed like the housing market was unstoppable. Then it all came tumbling down with the beginning of the subprime meltdown in March 2007. Values dropped like a rock. Many lost their homes to foreclosure or short sale. Everybody remembers the scars of the Great Recession. Either they were directly affected, or it happened to somebody they knew.
Once again, housing is soaring upward with seemingly no end in sight. Buyers are tripping over each other, willing to pay tens of thousands of dollars above the asking price. Throw in the news of rising inflation and the potential of drastically higher mortgage rates, the madness must come to a screeching halt soon, right? Even though so many are anticipating and reporting that a housing crash is eminent, it simply is not going to occur, not now, not in the next 6-months, and not in the foreseeable...
According to the National Association of Realtors Confidence Index Survey nearly 50% of homes sold during the four weeks ending May 16th sold for more than their list price. In the next 3 months NAR expects home prices to rise another 6% from where they were a year ago. With these quick surges many homeowners are seeing large increases in their home equity, causing many of them to rethink what their home value is in today’s market. If you’ve been thinking of upsizing or simply doing a cash-out refinance, now is the best time to take advantage of today’s hot prices. Find out your home’s worth by clicking here and reach your goals sooner.
You could also take some of your equity to purchase an investment property. With the hot rental market, this also makes an ideal market for the savvy investor. Have you thought about investing in real estate but aren’t sure how to start? Reach out today, let’s strategize a plan based on your current circumstances...
In a recent article, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), discussed the state of today’s housing market.
When addressing whether or not today’s high buyer competition and rising home prices are evidence of a housing bubble, Yun said that this “is not a bubble. It is simply lack of supply.”
Today’s housing market is healthy, and rising prices are driven by real buyer demand. Contact a local real estate professional to learn the best ways to navigate such an energetic market.
Demand for housing continues to increase substantially amid pandemic.
Kevin Budde of Monarch Coast Financial shares his recent "Real Estate Talking Points" where he gives weekly market updates on the latest real estate headline news.
This week Kevin's key points are:
- Today’s home price appreciation is driving equity higher throughout the country.
- If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move.
- Now is a great time to put your equity toward a down payment on the home of your dreams.
With so few homes available to buy today, houses are in high demand, and they’re selling fast.
That means it’s a great time to sell if you’re ready to make a move.
Reach out to a local real estate professional to make sure your house is ready for a top-dollar sale this spring. It may be closer than you think!