The fintech Knock.com has partnered with NFM Lending to integrate the Knock Bridge Loan into the mortgage lender’s prequalification process.
The Knock Bridge Loan can be used to make a down payment on a new home, pay down debt, cover repairs and moving costs. According to the companies, integrating the Knock Bridge Loan estimate into NFM’s workflow through an Encompass plugin will automatically notify loan officers about whether a homeowner can tap into the equity of their current home to buy their new home before they sell.
“NFM was the first to work with us when we gave lenders the added power of using our financing solution to help their clients access the money tied up in their current house to purchase their next home, and they are the perfect partner to launch our Encompass plugin with,” said Knock CEO Sean Black. “In today’s limited inventory, high interest rate environment, the biggest value a service provider can offer is helping homeowners get unstuck. The Knock Bridge Loan solves this problem by allowing homeowners to tap into the equity in their current home before they sell. They become more competitive buyers and can flip the process to move on their own terms.”
“Over the past 18 months, Knock has become our go-to solution for helping homeowners compete and win in today’s housing market,” added NFM Lending President and Chief Operating Officer Bob Tyson. “With so many of our lending officers turning to the Knock Bridge Loan as a financing solution, this integration will streamline the approval process. More importantly, it gives them another tool to differentiate themselves and provide more personalized and tailored service to their clients.”
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