Nook has introduced features that make buying a new home more affordable

Now homebuyers can use Home Swap™ interest-free home equity down payment to increase their down payment and lower their mortgage cost.

new york, August 2, 2022 /PRNewswire/ — Buyers and sellers are quickly realizing that traditional mortgages are no longer viable as interest rates rise and home prices plummet. Nook, the fast-growing fintech company that makes all the homebuyer power-buyers, today introduced two new features that allow homeowners to access unprecedented equity gains on existing homes to make buying a new home affordable.

Homeowners using Knock Home Swap starting today1, a home swap that includes an affordable loan and the 100% financing necessary to buy before you sell, you are eligible to use an interest-free home equity down payment on your new home in two ways to lower your interest and monthly payments. You can use it to:

  1. Buy their mortgage rates up to 0.75%
  2. Pay up to 30% down on their new home, reducing their monthly payments by more than one-eighth of a percentage point.

“With mortgage rates doubling since the beginning of the year and home prices continuing to rise in double digits, buying a home has become more expensive. At the same time, homeowners have more wealth tied up in their homes than at any other time in history,” said Knok, co-founder and CEO. Sean Black. “Thousands of homeowners have used Knock Home Swap to win their dream home, work with an agent they trust to compete with cash offers, and then move on their own timeline and sell for top dollar. Now they can use it to buy their property. Rate it and save more money, which lowers their value even more.”

Within a year, the typical American homeowner sees their home equity increase. 55,300 dollars In the year By 2021, according to CoreLogic, and the median-priced home of 416,000 dollars As of June, this has only continued to increase through 2022. A home buyer buying an average priced home can reduce their mortgage payment by 14 percent, or 259 dollars per month, Home Swap can use a no interest equity advance to increase their down payment from 20% to 30% and qualify for a lower interest rate. Paying points to lower their interest by 0.5% will reduce the extra 90 dollars per month, putting more 32,000 dollars During the life of the loan.2

Knock Home Swap’s interest-free advance loan covers up to six months of mortgage payments on the new home, home improvement and old home. After moving into their new home, Home Swap customers can sell their old home on the open market for the highest selling price, avoiding the hassle of repairs or showing.

Nook offers a 30-day closing guarantee, a home prep assistant and a back-up offer on older homes that don’t look like they’ll sell within six months. Over 98% of Nook homes sell within 90 days, 88% sell within 30 days.

Touch Partners with over 350 real estate brokerage firms and 120,000 agents to bring innovative home loan financing solutions to home buyers nationwide. 3 million dollars.

1Mortgage loans offered by Knock Lending LLC. NMLS 1958445. Equal Home Lender. For licensing information, go here: www.nmlsconsumeraccess.org.

2This example is for educational purposes only, rates are subject to change at any time.

About Nok

Nook is rewriting the rules of home ownership through mobile technology and innovative home finance solutions, empowering all home buyers. Nook’s flagship Home Swap™ product empowers consumers to buy the home they want before selling their home with uninterrupted availability on their phone, giving you the certainty of finding your dream home and the convenience of maintenance-free living. or displays. Nook GO™ (Guaranteed Offer) is a cash-like home loan solution for first-time home buyers looking to compete in today’s hot housing market.

In the year Launched in 2015 by members of the Trulia.com founding team, Nook currently operates in 75 markets nationwide. Knock is up. 900 million dollars With debt and equity from top-tier investors, Foundry Group, Greycroft, RRE, Parker89 and The National Association of Realtors®, it gives NAR’s 1.5 million members the ability to market Nook’s home ownership solutions to their customers. For more information visit: knock.com.

Contact: [email protected]

Source knocking.

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