Megastar Is Working With Calque to Offer The Trade-In Mortgage to Buyers Across the Country

—Home Buyers Can Tap the Equity in Their Current Home to Help Finance Their Next Home Before They Sell—

Megastar Financial Corp. is working with Calque, the leader in empowering established lenders to offer non-contingent mortgages, to provide The Trade-In Mortgage^™ to clients in all 22 states where the lender does business.

The Trade-In Mortgage^™ is a new mortgage solution designed to help homeowners succeed in the home buying and selling process. It enables homeowners who have equity in their current property to use that equity to make non-contingent offers, finance, and move into their next home before they sell their current home. In addition, The Trade-In Mortgage makes it easier for borrowers to qualify for the home they want because the existing home is not counted in debt-to-income when the new loan is being underwritten. This streamlines the home buying and selling process and allows homeowners to retain wealth by seamlessly transferring their equity from one property to another.

“Megastar Financial Corp. is focused on building strategic relationships while maintaining industry-leading customer service at a cost to finance a loan that is well below the industry average,” said Anita Padilla-Fitzgerald, president and CEO of MegaStar Financial. “By working with Calque to offer The Trade-In Mortgage, we can fulfill our commitment to provide borrowers with the most cost-effective and inventive mortgage financing options in the market. We’re also pleased to announce that homeowners using this product can use our bridge option to make a bigger down payment on the new home, which will reduce their monthly payments and the long-term cost of the loan.”

Currently, the real estate market is experiencing record-low inventory and contingencies make bids less competitive. Before clients go shopping with The Trade-In Mortgage, MegaStar will pre-approve clients using their Cash Ready Program, which is a comprehensive underwriting process that eliminates credit contingencies. The Trade-In Mortgage eliminates the home sale contingency with a guaranteed backup offer from Calque so MegaStar clients can make non-contingent offers that are more likely to be accepted in a low inventory market. Unlike competing products, The Trade-In Mortgage gives homeowners the opportunity to sell their existing residence for full price. At the same time, Calque’s guaranteed backup offer ensures they will not have to carry two mortgages indefinitely.

“Calque wanted to work with Megastar because they have a wide variety of loan products available, and their loan officers are experts in finding the right loan for each client's needs,” said Dan Mugge, chief operating officer at Calque. “We are thrilled to collaborate with Megastar to expand The Trade-In Mortgage into additional markets nationwide.”

About Megastar Financial Corp.

Megastar Financial Corp. is a privately held mortgage company headquartered in Denver, Colorado. With more than 24 years of experience in the industry, Megastar Financial Corp. provides a wide range of mortgage products and services to clients throughout the United States. The company’s commitment to customer service and innovation has earned it a reputation as a leader in the mortgage industry and led to being a top 100 lender in the nation.

For more information about Megastar Financial Corp., visit their website at http://www.megastarfinancial.com.

About Calque

Calque partners with established community lenders to offer mortgage lending solutions that make the home purchase process simpler, less stressful, and more cost effective for homeowners. Mortgage products such as The Trade-in Mortgage^™ streamline the entire home purchase process from start to finish by enabling consumers to submit non-contingent offers that function like cash offers, buy and move into their new home before selling their current one, use the accrued equity on their existing home to increase their down payment and reduce their monthly payments, prep their original home for sale after they’ve moved out, and stress less during the process.

Calque does not compete with lenders, but only utilizes best-in-class, FDIC-insured banks, credit unions, and mortgage banks in every state across the country. To learn more about Calque, visit http://calqueinc.com.

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