The structural problem these programs solve is the contingent offer. If you have to sell before you buy, your next purchase offer has a contingency that stronger buyers don't, and in a competitive market you lose the house. Trade-up programs remove that contingency by funding your new purchase in cash; you list the old home afterward.
Pure bridge — the program extends a short-term loan against your departing-home equity so you can buy the next house in cash. You list and sell the old one normally. Knock and Orchard's legacy product work this way.
Two-stage close — the program buys your departing home, then sells it back to you after closing on the new one. This is Homeward's default structure. Tax and title implications vary by state.
Cash-offer trade-up — the program makes the cash offer on the new home in its own name, then assigns the contract to you at your mortgage closing. Flyhomes and UpEquity Trade-Up use this structure.
| Program | Structure | Primary fee | States | Rating | |
|---|---|---|---|---|---|
| Homeward | Two-stage close | 7.0% and up (min. $17.5k) | 12 | 6.4 | Review |
| Knock Home Swap | Bridge loan + listing | 1.25% + bridge interest | 75 metros | 6.0 | Review |
| Orchard Move First | Line-of-credit bridge | 6% + 2.75% | 5 | 5.9 | Review |
| Flyhomes Cash Offer | Assigned purchase contract | ~2% + closing costs | 9 | 5.7 | Review pending |
We'll run both through the calculator for your market and return the number that wins by more than 50 bps.
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