Theory Mortgage, a closing broker in Oregon, has partnered with buy-before-you-sell program provider Calque to launch The Trade-In Mortgage in Oregon, according to a press release.

With homebuyers facing headwinds in the form of a competitive market and relatively high and fluctuating mortgage interest rates, this partnership comes at an important time. Current homeowners are holding onto an unparalleled amount of equity that could help them overcome bidding wars to purchase their next home but using that home equity without selling first can be a headache.

With The Trade-In Mortgage, the release stated homeowners with equity can use it to make non-contingent offers and buy and move into their next home before selling. This streamlines the home purchase process and reduces the costs of moving without juggling bridge loans or relying on contingent financing, which can put them at a disadvantage compared to other bids.

Additionally, The Trade-In Mortgage helps borrowers qualify for a home by removing their current house from debt-to-income (DTI) during loan underwriting. This simplifies the process of buying and selling homes and enables homeowners to effortlessly transfer their equity from one property to another while maintaining their wealth.

“Our top priority is our clients, and we are committed to finding the best mortgage solution for them,” Theory Mortgage Owner Brian DuVal said in the release. “The Trade-In Mortgage offers clients an innovative lending option, utilizing the significant equity from their current home to make the purchase of their next home less stressful. In fact, utilizing equity as leverage to obtain a home can be just as beneficial as buying with cash.”

“Calque identified Theory Mortgage as an ideal partner to offer The Trade-In Mortgage in Oregon,” Calque CEO Michael Bremer said. “Despite soaring interest rates, homeowners who need to move can utilize their accrued equity to secure the most favorable mortgage for their future property. The Trade-In Mortgage can make a difference for homeowners in Oregon who might otherwise avoid making the right move for their family because of the economic environment.”