The Atlanta-based fintech Knock announced the expansion of its Knock Bridge Loan to Texas.
According to the company, the product can pay off the homeowner’s current mortgage and release the equity locked up in their old home, thus eliminating their monthly mortgage payments when they qualify for a new home mortgage. The product supports a variety of loan programs, including VA loans, and carries a one-time 2.25% fee.
Texas is the latest expansion for Knock, which is now available through its relationships with thousands of lenders and agents in 32 states and the District of Columbia.
“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. For lenders and real estate professionals, it creates a better way to serve clients who might otherwise be stuck waiting to sell before they can buy.”
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