Knock expands bridge loan services to Texas

Knock has expanded its bridge loan services into Texas, giving qualifying homeowners a new way to access equity in their current home while buying their next one. The real estate technology company said the expansion will help Texas homeowners buy before selling by using equity from their existing property toward a down payment, debt repayment, home-sale preparations and up to six months of mortgage payments. By removing the existing home from the new mortgage qualification calculation, the Knock Bridge Loan can help qualified buyers increase their purchasing power and make non-contingent offers, the company said. “Many Texas homeowners have seen the equity in their homes increase significantly, and we’re excited to give them a way to put that equity to work when they’re ready for their next move,” said Knock co-founder and CEO Sean Black. “The Knock Bridge Loan gives homeowners the ability to buy before they sell, making their offers more competitive while giving them the flexibility to move on their own timeline.” Leaders said the expansion is particularly notable in Texas, where strong home equity protections can also make access more complex for homeowners preparing to move. Fo...