Many of the home buyers we encounter often come with different challenges. Not enough to pay for a down payment – it could be a challenge till the offer is put down.
That’s why partnering with Flyhomes to buy and sell, or who just need to buy a new house is a smart option with a seamless process.
Flyhomes is the leading provider of Buy Before You Sell solutions, offering them through a wholesale lending platform with innovative and customisable solutions that empower loan officers and agents to help their clients buy with confidence and move seamlessly.
For home buyers, Flyhomes’ Buy Before You Sell solutions are very flexible programs, with no prepayment or early payoff penalties.
Why is Flyhomes Buy Before You Sell beneficial for home buyers?
- Move once, stress less
Empower borrowers to purchase their next home before selling the departing residence, allowing them to move straight into their new home and avoid multiple moves.
- Reduce DTI ratio
We place a backup offer on the departing residence, so your underwriter can exclude its debt from borrowers’ DTI, helping them qualify for up to 40-50%* more.
- Up to 105% LTV
Allow borrowers to leverage the equity in both their current and new homes—potentially moving with no cash out of pocket.
- Make a winning offer
- Remove sale contingencies
With our backup offer, borrowers can remove the home sale contingency, making their offers more competitive. - Cash-like offers with 5% down
With our unique purchase bridge loan, borrowers can make a cash-like offer with as little as 5% down in a competitive market.
- Sell for top dollar
After moving in, borrowers can list and sell their departing residence at full market value—no need to rush or accept less.
Had a home buyer who’s looking to buy before they sell? They’ve got options!
- Buy Before You Sell with Guaranteed Back Up Contract
- Buy Before You Sell with Instant Equity
- Buy Before You Sell with Flyhomes Cash Offer
Buy Before You Sell with Guaranteed Back Up Contract
For every loan officer, this option is important because:
- Lower DTI
Exclude the mortgage of the departing home to lower your borrower’s debt-to-income ratio. This can help them get approved more easily or qualify for a bigger loan.
How does it work?
Borrowers have 180 days after closing on their new home to sell their old home for a better offer. If they don’t, Flyhomes will buy it at the price agreed upon in the contract.
For example, one of Flyhomes’ home buyers was experiencing a particular challenge. His old home was under contract. But when his buyer backed out, he could no longer exclude that departing residence debt, making him unqualified for the new mortgage.
With the Guaranteed Backup Contract, he had a backup offer on his old home, allowing his lender to ignore that mortgage and lower his DTI from 57% to 38%.
The benefits out of this solution were:
- The deal was saved by securing financing without delay to purchase the new home.
Buy Before You Sell with Instant Equity
For every loan officer, this option is important because:
- Access equity sooner
Let your borrowers use the equity in their current home before it sells, giving them more money for their next purchase.
How does it work?
- Once your borrower’s offer is accepted, fund the Instant Equity loan first—then close on their new home as soon as the next day.
- If their current home isn’t under contract yet, use the Flyhomes Guaranteed Backup Contract to keep things moving.
For example, a couple needed funds for downpayment for their new home, but their equity was tied up in their existing home.
With Flyhomes Instant Equity, they unlocked $116,100 in home equity, providing funds for the new home.
The benefit of this solution for loan officers was:
- Two loans were secured at the same time (equity loan and purchase loan)
Buy Before You Sell with Flyhomes Cash Offer
For every loan officer, this option is important because:
- Make a cash-equivalent offer
Make your borrowers’ offer as strong as cash and close in as little as 10 days.
- Up to 95% LTV
Enable your borrowers to buy with as little as 5% down payment while leveraging their home equity, 401(k), or stock investments—without selling upfront.
How does it work?
- Close the bridge loan first, and then refinance it into a long-term mortgage within as little as 3-4 days after the departing home gets sold.
- Highly flexible occupancy: Primary residence, second home, investment property on both sides.
For example, a home buyer was expecting a new family member and needed to move quickly. Despite having a stable tech job and significant assets in stocks, he preferred not to liquidate them.
With Flyhomes Cash Offer, he leveraged his income, home equity, and stock portfolio for pre-approval, allowing him to purchase his new home with just a 5% down payment—without selling his investments.
The benefit of this solution for loan officers was:
- Close more purchase mortgages – secure both the bridge loan and the long-term purchase mortgage.
Buying a new home while selling an old one doesn’t have to be a juggling act. With Flyhomes’ innovative Buy Before You Sell programs—like the Guaranteed Backup Contract, Instant Equity, and Flyhomes Cash Offer—buyers can take the next step without financial strain or added stress.
Lower DTI, Higher Approval Rates—Discover Flyhomes Solutions! Flyhomes is the partner you need to help your clients buy before they sell—without compromise.