UpEquity is a digital mortgage company and trade up service that helps buyers make an all-cash offer on a new home.
Buyers apply online and UpEquity works with buyers and real estate agents to make all-cash offers using UpEquity’s cash. Once an offer is accepted, the buyer closes with a competitive rate and a traditional mortgage in their name, typically in 21 days or less.
UpEquity’s cash offer program is free for customers. The associated costs are similar to any mortgage-backed home purchase, such as appraisals, taxes, and closing costs. Only if a buyer uses UpEquity’s cash to win an offer and then chooses to use another lender for mortgage services, then there is a 1% Fee for Purchase.
UpEquity generates revenue by leveraging the risk of potentially purchasing the house into a commission from brokering or selling the loan.
UpEquity is privately held.