Unlock 30% more buying power without selling first
DTI Buster
Daniel needed to move into a new Florida home with his elderly mother, but his existing mortgage capped the loan he could qualify for. Flyhomes DTI Buster excluded that debt, unlocking 30% more buying power and a single move, on his timeline.
• Borrower: Unlocked 30% more buying power and moved once, directly into his new home
• Loan officer: Saved an at-risk deal by offering a solution most lenders can't
• Agent: Made a stronger, non-contingent offer, backed by a Flyhomes Guaranteed Backup Contract
State:
Florida
New Home:
$650,000
Current Home Value:
$425,000
Financial Produce Used:
Guaranteed Backup Contract
Challenge
Daniel needed to move with his elderly mother into a new home before selling their old one, but he couldn’t qualify for a large enough loan while still carrying the existing one.
Solution
By leveraging Flyhomes Buy Before You Sell with DTI Buster, Daniel’s lender excluded his old home’s debt, lowering the debt ratio, boosting his approved loan amount by 30%, and avoiding the hassle of moving twice, while giving him 180 days to sell his old home.
For borrowers
- Lowered debt ratio to qualify for a larger loan amount.
- Moved once, directly into his new home: no double move or temporary housing
- Waited to sell his old home on his timeline, with a Guaranteed Backup Contract as a safety net
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 "stuck" clients, 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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