Turn a stuck offer into a closed deal in 12 hours
DTI Buster
Anthony's home sale fell through days before his new mortgage was set to close, putting his approval at risk.
Flyhomes DTI Buster stepped in within 12 hours, excluding his existing mortgage so he could still qualify and close on time.
• Borrower: Requalified and closed on time after his home sale fell through
• Loan officer: Saved an at-risk deal by offering a solution most lenders can't
• Agent: Kept the deal moving with a Flyhomes Guaranteed Backup Contract protecting both sides
State:
Pennsylvania
New Home:
$850,000
Current Home Value:
$640,000
Financial Produce Used:
Guaranteed Backup Contract
Challenge
Anthony’s current home was under contract, but when the buyer backed out, he could no longer exclude that debt and lost qualification for the new mortgage.
Solution
Flyhomes provided the DTI Buster, part of our Buy Before You Sell program, on his current home within 12 hours, allowing him to disregard his existing mortgage and still close on time.
For borrowers
- Was able to disregard the existing mortgage to qualify for a larger loan amount
- Approved for a Flyhomes Guaranteed Backup Contract within 12 hours, saving time and stress
- Closed on his new home in time
For loan officers
- Saved an at-risk deal by offering a solution most lenders can't offer
- Expanded their referral network by being the LO who solves the problems others can't
For agents
- Removed home sales contingency and made a stronger offer that wins in competitive markets
- Helped a "stuck" client, who can't buy until they sell, get moving sooner
- Reduced fall-through risk with the Guaranteed Backup Contract protecting both sides of the transaction
FAQ's
Can the Buy Before You Sell program be used for new construction?
Yes. Flyhomes Buy Before You Sell solutions can be used for new construction, helping buyers secure a new build even while they still need to sell their current one.
This allows buyers to move forward on a new build without waiting for a sale, reducing delays and keeping construction timelines on track. The Guaranteed Backup Contract can be a helpful option in these situations, since it provides flexibility when timing is uncertain.
What if the buyer's old home doesn't sell within 180 days?
Flyhomes will buy it at the contract price and resell it. The buyer keeps any net profits* from the resale, and by default the original listing agent handles it — so the listing stays with you.†
Can Flyhomes help me remove a home sale contingency?
Yes. One of the main benefits of Buy Before You Sell is the ability to make a non-contingent offer by unlocking your home equity or using short-term financing solutions that let you buy your next home before selling your current one. Without a home sale contingency, your offer is typically more competitive in fast-moving or multiple-offer markets.
How does the Guaranteed Backup Contract affect a borrower’s DTI?
The Guaranteed Backup Contract can help reduce how much the borrower’s current mortgage impacts their debt-to-income ratio, depending on lender guidelines and loan program requirements. By putting a bona fide backup contract in place on their existing home, lenders may be able to exclude that payment from the DTI, which can help the borrower qualify more easily and increase their buying power.
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