Use your current home’s equity, reduce the impact of your existing mortgage payment, and make a stronger offer on your next home—without having to move twice.
Two possible solutions
Many homeowners find the right next home before their current home has sold. That can create several problems:
You may need the equity from your current home for the next down payment.
Your current mortgage payment may make it harder to qualify.
A home-sale contingency may make your offer less competitive.
Selling first could leave you needing temporary housing.
Moving twice can add stress, expense, and inconvenience.
Our Buy Before You Sell options are designed to help solve those problems so you can make your next move with greater confidence.
Answer a few questions to see which option may fit your situation.
The right option depends on whether you need access to your current home’s equity or simply need help qualifying while you still own the home.
Work Hard Mortgage helps you evaluate, structure, and finance your next purchase. Certain Equity Unlock and home-sale guarantee services are provided by approved third-party program partners, subject to their approval and agreements.
Best for homeowners who need equity from their current home.
Through an approved program partner, this option may allow you to access a portion of the equity in your current home before it sells. The funds can then be used toward the down payment and closing costs on your next home.
Benefits
Important program information
Best for homeowners who already have enough cash for the next purchase.
If you do not need to access your home equity, this option may provide a backup purchase agreement that allows an eligible lender to exclude your current mortgage obligation from the debt-to-income calculation.
Benefits
Important program information
| Feature | Equity Unlock | DTI Drop |
|---|---|---|
| Need access to current home equity | Yes | No |
| May help reduce the current mortgage’s impact on DTI | Yes, when structured with the full program | Yes |
| May allow a non-contingent offer | Yes | Yes |
| Can buy before selling | Yes | Yes |
| Uses borrower’s own cash for next purchase | Not necessarily | Yes |
| Backup home sale protection | May be included | May be included |
| Program fee | Higher fee because equity is advanced | Lower fee because no equity is advanced |
Need access to current home equity
Equity Unlock
DTI Drop
May help reduce the current mortgage’s impact on DTI
Equity Unlock
DTI Drop
May allow a non-contingent offer
Equity Unlock
DTI Drop
Can buy before selling
Equity Unlock
DTI Drop
Uses borrower’s own cash for next purchase
Equity Unlock
DTI Drop
Backup home sale protection
Equity Unlock
DTI Drop
Program fee
Equity Unlock
DTI Drop
Not sure which one fits? That is exactly what the Home Plan Quiz is designed to help us determine.
Answer a few questions to see which option may fit your situation.
Complete the Home Plan Quiz so we can understand your current home, estimated equity, timeline, and next-home goals.
A Work Hard Mortgage loan advisor reviews your information and determines whether the program may fit your situation.
The property is reviewed to determine eligibility and how much equity may be available.
If approved, available equity can be used toward the next home’s down payment and eligible closing costs. You may then be able to make an offer without a home-sale contingency.
After moving, your Realtor lists and sells the former home. At closing, the Equity Unlock amount and applicable program fees are repaid from the sale proceeds. The remaining proceeds are disbursed to the homeowner.
Answer a few questions to see which option may fit your situation.
You already have sufficient cash for the new home’s down payment and closing costs.
Your current home is reviewed for program eligibility.
Subject to lender and program approval, a backup purchase agreement may allow the mortgage lender to exclude the current home’s mortgage obligation from the qualifying debt-to-income calculation.
You close on your new home and move.
Your Realtor lists and sells your former home on the open market.
When the home sells, the applicable program fee and inspection fee are collected through escrow.
The goal is still to sell your home normally. The backup purchase agreement is there to provide greater certainty if the home does not sell during the program period.
Answer a few questions to see which option may fit your situation.
The goal is for your current home to sell on the open market through your chosen real estate agent.
If the home does not sell within the applicable program period, an approved program partner may purchase the property under the terms of the backup purchase agreement.
After the home is purchased, it may be listed and resold to a third-party buyer. Depending on the specific program agreement, the homeowner may receive the remaining net proceeds after subtracting items such as:
The exact purchase price, payoff amount, fees, ownership costs, and distribution of resale proceeds will be stated in the borrower’s specific program agreement.
The cost depends on which option is used.
Current program materials indicate a program fee of approximately 2.4% of the final sale price of the departing residence. Minimums may apply when the final sale price is below certain thresholds. Additional fees and costs may apply. The Equity Unlock amount is repaid from the departing-home sale proceeds.
Current program materials indicate a program fee of approximately 1% of the final sale price of the departing residence, with a current minimum fee of $5,000. An inspection fee and other transaction costs may also apply.
These are current program examples for general planning purposes only. Fees, minimums, eligibility requirements, and program terms may change. We will confirm the applicable terms before you decide whether to proceed.
Potentially a good fit
May not be a fit
Eligibility is based on the complete borrower and property profile. Do not assume you are ineligible before speaking with us.
Answer a few questions to see which option may fit your situation.
Buying and selling at the same time involves more than finding a mortgage rate. We help coordinate the financing strategy, equity needs, timing, qualification, and sale of the departing residence.
We compare the available paths and help determine which one makes the most financial and practical sense.
We review estimated cash needs, equity, monthly payments, fees, and potential sale proceeds.
We coordinate with the borrower, real estate agents, title company, lender, and applicable program partners.
Completing the Home Plan Quiz does not obligate the visitor to use the program or obtain a mortgage.
Answer a few questions to see which option may fit your situation.
Every situation is different. Your available equity, current mortgage balance, income, next-home price, timeline, and property condition all affect which strategy may work.
Complete the Home Plan Quiz and a Work Hard Mortgage advisor will review:
Takes only a few minutes. No commitment required.
Program availability, eligibility, equity access, home sale guarantees, fees, and terms may vary. Certain program services may be provided through approved third-party partners. This is not a commitment to lend. Additional conditions and restrictions apply.
Buy Before You Sell, Equity Unlock, DTI Drop, and home sale guarantee programs are subject to borrower, property, lender, investor, and program-provider approval. Program availability and terms vary. Fees, minimums, inspections, repairs, listing requirements, property restrictions, and deadlines may apply. Certain services may be fulfilled through approved third-party providers. Work Hard Mortgage does not guarantee approval, a specific equity amount, a specific sale price, or that a home will sell within a particular period. This page is for informational purposes only and is not a commitment to lend, an offer to purchase property, or legal, tax, or financial advice.
Work Hard Mortgage is a DBA of Work Harding Home Mortgage Team, LLC. NMLS #2396714. Licensed Mortgage Broker in Utah, Oregon, Colorado, Idaho, Texas, and Alaska. 24 W Main Street Suite 203, Lehi, UT 84043.