Scottsdale, Ariz. – HomeLight and American Pacific Mortgage (APM) have announced a strategic partnership to integrate HomeLight’s white-labeled Buy Before You Sell program into APM’s network. This collaboration will extend the program to over 1,000 loan officers across more than 300 branches nationwide, aiming to provide a solution for homeowners seeking to access equity from their current homes before purchasing a new one.
The Buy Before You Sell program functions as a modern bridge loan, enabling clients to unlock existing home equity and proceed with a non-contingent offer on their next residence. Data from loan officers indicates that over 50% of clients utilizing such programs are move-up buyers needing to access equity, while 41% are sellers in competitive markets looking to avoid contingent offers.
Drew Uher, Founder and CEO of HomeLight, stated, “Buy Before You Sell is the leading modern bridge loan product in the industry, and we’re thrilled to bring it to thousands of American Pacific Mortgage loan officers across the country.”
Through this partnership, APM loan officers can offer a competitive advantage by providing their clients with:
* AI-powered approval of property condition and program eligibility.
* Access to approved clients’ existing home equity.
* Elimination of the client’s current mortgage liability, which can reduce their debt-to-income ratio.
* The ability to make non-contingent offers on new homes.
* Flexibility in moving timelines.
Dustin Sheppard, President of American Pacific Mortgage, commented, “This partnership allows our loan officers to provide a game-changing solution to borrowers who want to move without the stress of timing their sale and purchase perfectly.”
Beyond this partnership with American Pacific Mortgage, HomeLight’s Buy Before You Sell program has collaborated with over 22,000 loan officers and 28,000 real estate agents, facilitating the unlocking of over $884 million in equity from clients’ existing homes.
HomeLight, founded in 2012, is a privately held company with offices in Scottsdale, San Francisco, Dallas, and Chicago. It provides an AI-powered operating system for real estate agents and lenders, aiming to simplify real estate transactions. The company states it has supported over 2 million home buyers and sellers through various stages of the real estate process, including agent connections, mortgage securing, equity unlocking, and closing. HomeLight facilitates billions of dollars in residential real estate transactions annually on its platform.
American Pacific Mortgage, established in 1996, is a national independent retail mortgage lender based in Roseville, California. The company is licensed in 49 states, employs more than 2,600 individuals, and operates over 350 branches. APM is 49% employee-owned through an employee stock ownership plan. The company also operates a charitable entity, APMCares, funded and run by employees, which supports various organizations and provides assistance to employees facing hardships.
