Unlock home equity for a down payment before selling
Equity for Down Payment
Tom and Jess found their next home, but their down payment funds were tied up in their current home's equity.
Flyhomes Equity for Down Payment unlocked that equity upfront, letting them buy before selling and move only once.
• Borrower: Unlocked home equity for their down payment without waiting on a sale
• Loan officer: Closed a deal that would've stalled without a way to access tied-up equity
• Agent: Helped clients make a clean, non-contingent offer that competed better in the market
State:
Colorado
New Home:
$625,000
Current Home Value:
$550,000
Financial Produce Used:
Instant Equity $101,250
Challenge
Tom and Jess needed funds for their down payment on their new home, but their equity was tied up in their current home.
Solution
Flyhomes Buy Before You Sell with Equity for Down Payment unlocked $101,250 in home equity, providing funds for the new home, allowing them to buy the next home before selling the current one, and only move once.
For borrowers
- Unlocked $116,100 in home equity to fund their down payment without waiting on the sale of their current home
- Bought their next home before selling, avoiding the pressure of a contingent offer or temporary housing
- Moved once, directly into their new home, with no double moves or storage costs
For loan officers
- Closed a deal that would have stalled without a way to unlock the borrower's tied-up equity
- Delivered a solution that made the down payment possible without the client needing additional liquid assets
- Strengthened the referral relationship by solving a scenario most lenders couldn't navigate
For agents
- Helped clients make a clean, non-contingent offer that was more competitive in the market
- Avoided the complexity of coordinating a same-day close or back-to-back transactions
- Delivered a smooth transaction that built trust and positioned them for future referrals
FAQ's
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.†
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.
Are there monthly payments on a bridge loan?
It depends on the lender and loan type. Some bridge loans require monthly interest payments during the loan term. Others, including some Flyhomes Buy Before You Sell solutions, defer payments until the home sells and the loan is repaid.
How is Flyhomes different from a traditional bridge loan or HELOC?
Traditional bridge loans and HELOCs are typically based on a borrower’s current financial picture, including existing debt and the equity in their current home, which can limit flexibility. Flyhomes Buy Before You Sell takes a more forward-looking approach by factoring in the expected sale of the current home, which can help unlock more buying power and make it easier to move on to the next home.
Unlike traditional options, Flyhomes doesn’t require monthly payments during the transition period. Instead, interest simply accrues and is paid off once the original home sells, ensuring borrowers don’t have to juggle extra monthly payments during the move.
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