Calque Launches Contingency Buster, A Faster, More Affordable Buy-Before-You-Sell Program

Calque, a fintech company specializing in innovative solutions for established lenders, has launched its newest ‘buy before you sell’ program, the Contingency Buster. The Contingency Buster is designed for homeowners who want to quickly remove home sale contingencies and debt-to-income constraints at any point in the home-buying process.

Calque’s flagship program, The Trade-In Mortgage^™, was created for homeowners who want to tap their current home equity before they sell to make a bigger down payment, pay off debt, or increase cash reserves. Over the years, Calque saw a growing market opportunity for a lighter ‘buy before you sell’ product that does not need to accommodate a second mortgage because many borrowers have enough cash on hand to make a down payment on their new home. As a result, Calque created the Contingency Buster, a faster and more affordable option for homeowners who do not need to access their home equity to purchase their next home. 

The Contingency Buster leverages Calque’s Purchase Price Guarantee (PPG), a binding backup contract that ensures that if a homebuyer’s current home does not sell within 150 days, Calque will step in and purchase it at an agreed-upon price. The Calque PPG enables established lenders to provide non-contingent financing on the new home and remove the original home from debt-to-income while also providing peace of mind and minimizing financial risks for homeowners.

Key Features of the Contingency Buster:

1. Quickly Eliminate Home Sale Contingencies: Calque offers homeowners a Purchase Price Guarantee that covers the existing mortgage balance, Calque’s fees, and estimated closing costs in an exceptionally fast time frame. With a Calque PPG in hand, homebuyers can confidently make non-contingent offers on new homes or upgrade an existing bid into a non-contingent offer to win a bidding war.

2. Current Residence is Removed from DTI: Purchase Price Guarantees are binding backup contracts that enable loan officers to remove their borrower’s current home from their debt-to-income (DTI) ratio. This makes it easier for their client to qualify for the new home they want before they sell.

3. Expedited 48-Hour Approval Process: Within 24 hours of applying, the homeowner receives a call to discuss the program and schedule a virtual walk-through (VWT). Using proprietary workflows and evaluation processes, Calque can typically provide a binding offer decision within 24-48 hours after the VWT is complete. Once the offer is accepted, homeowners have up to 150 days to sell their home on the market, with Calque serving as the backup buyer, if necessary.

4. Reduced Fees: The Calque Purchase Price Guarantee (PPG) for Contingency Buster transactions is always the minimum amount required to remove the home sale contingency. Because Calque’s fees are based on the PPG amount, lower PPGs for Contingency Buster properties significantly reduce program fees.

“Calque has consistently delivered exceptional service, meeting the demands of lenders and real estate professionals who seek innovative solutions for their clients in today’s competitive market,” said Calque CEO Michael Bremer. “With the introduction of the Contingency Buster, we are elevating our commitment to providing faster, more cost-effective options that pave the way for seamless home buying and selling experiences.”