Downsize to a 55+ new build community and close in 10 days
Retire & Downsize
Susan and Mark found their dream home in a 55+ community, but couldn't access their equity fast enough to meet the builder's tight closing deadline. Flyhomes Retire & Downsize unlocked that equity, closing in 10 days and letting them move in mortgage-free once their old home sold.
• Borrower: Closed in 10 days and moved in mortgage-free after unlocking home equity
• Loan officer: Won a client they otherwise couldn't have served
• Agent: Made the client competitive in a new-build community with strict rules
State:
California
New Home:
$900,000
Current Home Value:
$1,500,000
Financial Produce Used:
Cross Collateral $855,000
Challenge
Susan and Mark found their ideal home in a 55+ new-construction community but couldn’t access their equity fast enough to meet the builder’s quick-closing deadline.
Solution
Their loan officer leveraged Flyhomes Buy Before You Sell with the Retire & Downsize solution to unlock their equity and close in just 10 days. Once their old home sold, they paid off the bridge loan and moved into their new place mortgage-free.
For borrowers
- Were able to unlock their equity
- Closed in just 10 days
For loan officers
- Won a client they otherwise couldn’t have served
- Built trust with the agent, driving future referrals
For agents
- Solution made the client competitive in a new-build community, which often has challenging rules
- Expanded their referral network through access to an exclusive solution
FAQ's
What if my home doesn’t sell within 180 days?
The Guaranteed Backup Contract ensures you still have a path forward. If your home hasn’t sold within the program’s timeframe, Flyhomes can step in and purchase it at the agreed-upon backup price, helping protect you from extended holding costs and giving you peace of mind.
Where are Flyhomes Buy Before You Sell programs available?
Flyhomes Buy Before You Sell programs are available in many states across the U.S., with availability varying by solution and location. The Guaranteed Backup Contract is available in all 50 states, while loan-based products depend on Flyhomes’ lending coverage. Loan officers can check specific availability using the product availability page or by contacting their Flyhomes representative.
Can I use all of my home equity for a down payment?
Not usually. Lenders typically require you to leave some equity in your home, and borrowing limits depend on factors like your loan-to-value ratio, credit, and debt-to-income.
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