Adding jumbo loans allows more home buyers to compete with cash buyers as they rush to close amid rising interest rates
- move into Seattle strengthens Knock’s West Coast presence
- Knock Home Swap™ allows consumers to buy before they sell, avoid exposures and repairs, and sell on the open market
- With Knock GO™ (guaranteed offer), first-time buyers can make an unconditional offer at no additional cost
NEW YORK, April 19, 2022 /PRNewswire/ — Struckthe fast-growing fintech that is turning all homebuyers into Power Buyers, today announced that Seattle area homebuyers can now compete with the certainty of having the money to buy their dream home. Starting now, existing homeowners can use the Knock Home Swap to buy before they sell and first-time buyers can take advantage of Knock GO™ to take the stress out of buying a home in today’s competitive market. The company also announced the addition of jumbo loans to its product portfolio.
Our Innovative Home Lending Solutions Make All Buyers Competitive Against Cash Buyers — Knock Co-Founder and CEO Sean Black.
With today’s launch in the Seattle–Tacoma–Nice view, bellingham, Mount Vernon–Anacortes, Bremerton–Silverdale–harbor orchard and Olympia–Laced–Tumwater metropolitan areas, Knock’s innovative home loan solutions, including jumbo loans, are available in a total of 75 markets in 15 states nationwide.
“With buyers vying for record numbers of homes available for sale and prices continuing to accelerate, it’s more important than ever to position yourself to win,” said Knock’s co-founder and CEO. Sean Black. “Our innovative home loan solutions make all buyers competitive with cash buyers and eliminate common problems such as timing a sale with a purchase and completing repairs and viewings that make it more difficult than necessary to buying and selling a home. Now, with the addition of jumbo loans, we can help more people achieve their homeownership goals.”
For buyers who have a home for sale, the Knock Home Swap1 provides 100% of the money needed to purchase a new home before listing the old home. This includes a competitively priced mortgage and an interest-free loan, which covers the down payment on the new home, home preparation and up to six months of mortgage payments on the old home. Home Swap customers can sell the old home on the open market for the maximum sale price after moving into their new home, avoiding the hassle of living through repairs or viewings. Knock also offers a 30-day closure guarantee.,2, Home Prep Concierge and offer backup on the old home in the unlikely event that it doesn’t sell within six months. Over 98% of Knock homes sell in 90 days or less, with 90% selling in 30 days or less.
Hit GO™1.3 allows first-time home buyers and those without a home to sell to make a competitive offer with cash. In addition to a competitively priced conventional mortgage, Knock GO™ offers a closing guarantee at no additional cost, giving buyers and their agents the opportunity to make an offer that will stand out from other offers.
Eligible buyers can use the Knock Home Swap and Knock GO™ for home loans up to $3 million. Addition of jumbo loans expands limit of eligible Knock home exchange listings to $2 million in Seattle and Southern California and until $1 million in other markets, Knock operates nationwide.
To bring Home Swap and Knock GO™ to SeattleKnock partners with International professional real estate services; Olympic Keller Williams; International professional real estate services; Olympic Keller Williams; Infinite Real Estate; Velocity Real Estate Inc | Keller Williams Downtown Seattle; Vicinage Real Estate – KW Downtown Seattle; The Warmack Group – Keller Williams Realty Greater Seattle and Century 21 Homes North.
Nationally, Knock Home Swap and Knock GO™ are available from 300 real estate brokerage firms with 117,000 agents in approximately 5,900 zip codes nationwide. Homebuyers can also learn more and see if they qualify for the Knock Home Swap or Knock GO™ at knock.com.
1Mortgages offered by Knock Lending LLC. NMLS 1958445. Equal Housing Lender. For licensing information, go to: www.nmlsconsumeraccess.org.
2Terms and conditions of application. To see https://knock.com/closing-guarantee for more information on the Knock Closure Guarantee.
3Terms and conditions of application. To see knock.com/offer-warranty/terms for more information on the Knock GO™ (guaranteed offer).
Knock is rewriting the rules of homeownership by making all homebuyers Power Buyers. Knock’s flagship Home Swap™ gives consumers a non-contingent offer to buy the home they want before selling the home they have, providing the certainty that you’ve found your dream home and the convenience of not not have to undergo repairs or visits. Knock GO™ (Secured Offer) is a cash home loan solution for first-time home buyers looking to compete in today’s hot housing market.
Launched in 2015 by the founding team members of Trulia.com, Knock currently operates in 75 markets nationwide. knock raised $900 million in the form of debt and equity from leading investors, including Foundry Group, Greycroft, First American Financial and The National Association of Realtors®, giving NAR’s 1.5 million members the ability to bring the solutions to market. Knock’s home ownership with their clients. For more information visit: knock.com.
Contact: [email protected]
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