One of the nation's largest lenders now has the capability to offer the Knock Bridge Loan™ when they qualify a buyer for a mortgage
NEW YORK, June 20, 2024 /PRNewswire-PRWeb/ -- Knock.com, the real estate technology company that has helped thousands of homeowners buy before they sell, today announced that it is partnering with NFM Lending to integrate the Knock Bridge Loan into the mortgage lender's prequalification process. As a result, NFM's loan officers will now be able to provide their clients with real-time insights about their buying power at the start of their home journey.
Since its inception in 1998, NFM has focused on leveraging technology to streamline the lending process for both its loan officers and the customers they serve. By integrating the Knock Bridge Loan estimate into NFM's workflow through an Encompass plugin, the mortgage industry's most widely used loan application software, loan officers are automatically notified about whether a homeowner can tap into the equity of their current home to buy their new home before they sell.
"NFM was the first to work with us when we gave lenders the added power of using our financing solution to help their clients access the money tied up in their current house to purchase their next home, and they are the perfect partner to launch our Encompass plugin with," Knock Co-Founder and CEO Sean Black said. "In today's limited inventory, high interest rate environment, the biggest value a service provider can offer is helping homeowners get unstuck. The Knock Bridge Loan solves this problem by allowing homeowners to tap into the equity in their current home before they sell. They become more competitive buyers and can flip the process to move on their own terms."
With a mission to democratize the home selling experience, Knock launched the "buy before you sell" category in 2015, and over the past nine years has adapted its business model to fill a much-needed gap in the housing market. Today, Knock partners with lenders and agents nationwide to offer the Knock Bridge Loan, a first-of-its kind financing solution that can be used to make a down payment on a new home, pay down debt, cover repairs and moving costs, positioning their clients to be more competitive, non-contingent buyers.
"Over the past 18 months, Knock has become our go-to solution for helping homeowners compete and win in today's housing market," said Bob Tyson, President and Chief Operating Officer of NFM Lending. "With so many of our lending officers turning to the Knock Bridge Loan as a financing solution, this integration will streamline the approval process. More importantly, it gives them another tool to differentiate themselves and provide more personalized and tailored service to their clients."
Through partnerships with thousands of loan officers and real estate agents, consumers in 75 markets throughout the U.S can use the Knock Bridge Loan to bring more certainty and convenience to their home buying experience – something typically afforded to the ultra-rich.
"Historically, bridge loans were only accessible to high net-worth individuals. The Knock Bridge Loan changes that by being both accessible and affordable," Jamie Glenn, Knock Co-Founder and Chief Operating Officer said. "By giving our lending partners the ability to seamlessly integrate the Knock Bridge Loan approval process into their existing workflows, we are moving one step closer to our goal of making it easier to buy and sell homes."
Learn more about Knock and their direct integration, here.
About Knock
Knock.com is on a mission to empower people to move freely. The Knock Bridge LoanTM makes it easy for consumers to buy their new home before selling their current one. Knock partners with loan officers and real estate agents across 75 markets to streamline the home buying and selling journey for their clients, offering them enhanced convenience, certainty, and competitiveness. For more information, like our Facebookpage, or follow us on Instagram.
About NFM
NFM Lending is a mortgage lending company currently licensed in 49 states in the U.S. and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit nfmlending.com, like our Facebook page, or follow us on Instagram.
Contact: [email protected]
Media Contact
Stacey Arenson, Knock, 1 3152548446, [email protected], https://www.knock.com/
SOURCE Knock
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