Knock Bridge Loan Review: Is It Worth It to Buy Before You Sell?

The Knock Bridge Loan™ (formerly called Knock Home Swap) is designed to make it easier to buy and sell a home at the same time. It works by advancing homeowners a portion of their home equity to purchase a new house before they list.

The loan is interest-free for six months, which gives you time to sell your current home and pay back the loan amount from the proceeds. They also provide a guaranteed backup offer in case your home doesn't sell before the loan is due.

Knock's Bridge Loan costs 2.25% of your home's listing price, plus $1,850 in additional loan costs.[1] You'll also accrue carrying costs (ongoing mortgage payments, taxes, utilities, etc.) on your old home while it's listed — so the longer it takes to sell, the smaller your final payout will be.

According to Knock, 92% of customers sell their home on the market in less than 90 days for full asking price or above.[1] However, if you anticipate any trouble selling your house, you may want to look into getting a cash offer that will free you up from those costs sooner. Knock's backup offer is only worth about 85% of the list price.[2] After fees and six months of carrying costs, you may be worse off than just selling to a cash buyer at a discount right off the bat.

Compare your options — risk free. See what real cash buyers will pay for your home — either right away, or as a backup offer to keep in your pocket — with no added fees or commitment. Find Offers

Who does Knock work best for?

Knock’s bridge loan is designed for homeowners who are in the position of buying and selling a house at the same time. It can be especially attractive if you:

• Need to move quickly, but don't want to give away your equity to a cash buyer just for a faster close
• Want to move out of your old house before showings start
• Don’t want to risk missing out on your dream home while waiting for your current house to sell
• Need the money tied up in your current home to buy a new one

"Sellers in this position have traditionally had to list first and either hope the next home they purchase will fit perfectly with their closing date — or craft a home sale contingency into their offer, which makes it less appealing to the seller," explains Jacob Naig, a real estate agent and owner of We Buy Houses In Des Moines. 

Home sale contingencies are seen as riskier, because your ability to buy the home depends not just on you, but on your buyer — and financing can easily get delayed or fall through altogether. Trying to line up the closing dates also means having to live in the house while it's on the market.

You could buy first, but that leaves you paying two mortgages while you wait for the right offer. And since your current mortgage will still be on your credit, you may not qualify for as big of a mortgage on your next home.

The other choice is to sell first, says Naig, "but that means scrambling to find temporary housing." Knock is for homeowners who want to eliminate the choice altogether. 

"Knock enables home owners to unlock their equity, buy a new home upfront as a non-contingent buyer, and sell their old home after they have moved out — eliminating the madness of showings, delays, and overlap logistics," Naig explains.

How Knock works

Knock works by providing a short-term 'bridge' loan and a backup cash offer so you can submit a competitive offer on a new home without it being contingent on your old house selling. You can use the loan to purchase a detached single-family home, condo, or townhome, as long as it will be your primary residence. In addition to your down payment and closing costs, the loan can cover other real estate expenses, such as moving and paying down your existing mortgage.

Here’s how it works:

• Submit an application for preapproval. There’s no cost to apply, and you should receive an estimated loan amount within 48 hours.
• Knock calculates the bridge loan amount based on your home’s value, your current mortgage balance, and how much you need to buy your new home.
• The loan amount will vary but cannot exceed $1 million. [3]
• You choose your own agent and list the property on the multiple listing service (MLS). Shop for and purchase your new home.
• If your old house doesn’t sell within six months, you can accept Knock’s backup offer, which they provide upfront (typically about 80% of the fair market value).

Knock charges a set program fee of 2.25% of the estimated list price, plus about $1,850 in additional loan costs. So if you list your home for $500,000, you'd owe about $13,100 to Knock when you settle up.

The loan itself is interest-free for six months. But you may have to pay additional fees and interest if your home doesn’t sell within that timeframe.

Pros and cons to consider with Knock

✅ You can make a competitive offer and worry about selling later

With Knock, you don't have to coordinate the logistics of selling first and finding temporary housing while you house hunt or risk getting an offer rejected because it's contingent on selling your old house. Knock's bridge loan, coupled with its backup offer, makes your offer as good as cash, so you can win the home you want and remove your old house from the equation.

While swapping homes is still a tough mountain to climb, Naig has helped clients achieve the best-case scenario with Knock: "I had a client use Knock last year to buy a house in Waukee, WI, while selling their home in Beaverdale. Within 48 hours, their new offer was accepted — no contingency, no wait. When they left, we staged the old house, it went on the market clean and empty, and we were under contract in less than a week."

✅ You can use the loan for more than just a down payment

Knock's Bridge Loan can be used for a variety of expenses, including down payment, closing costs, moving expenses, and any carrying costs (ongoing mortgage payments, taxes, utilities, etc.) that accrue while your house is on the market. You can also use the loan to pay off debt like credit cards, car loans, or home equity lines of credit (HELOCs) to improve your debt-to-income (DTI) ratio and increase your buying power.  

As an add on, you can also borrow up to $35,000 to fix up the house before it's listed. However, a larger loan amount may result in higher loan costs, and the increase in home value may not justify the expense. "My clients passed on the home prep add ons and instead utilized our in-house staging and cleaning teams," says Naig.

✅ You get to choose your own realtor and lender

One of the benefits of Knock is that you can choose your own agent and lender. 

Choosing a top agent, as opposed to one that's assigned to you, can make or break your home sale. Top agents close more deals and generally have a better track record of selling homes quickly, at asking price or more. Working with a brokerage that offers competitive commission rates can save you significantly on fees and help offset some of the costs of using Knock. 

Similarly, being able to shop for the best interest rate can save you tens of thousands of dollars over the life of your home loan.

❌ The backup offer provides security, but it won't match your list price

Knock's Bridge Loan comes with a guaranteed backup offer in case your house doesn't sell within the 6-month loan term. However, it will likely only be about 85% of the list price.[2]

Fortunately, sellers rarely have to exercise this option — the vast majority of Knock's clients get their homes sold within 90 days, according to the company's website.

"The Knock offer is nice if for nothing else than a bit of a psychological floor for the seller (85% of market value-ish), but in our case, we beat that by well over 12% on the open market," says Naig.

❌ You'll pay a premium for the convenience

While the loan itself is interest free for 6 months, Knock's fees will add a minimum of 2.25%, plus $1,850, to your closing expenses. Ongoing home ownership costs will be covered by the loan while your house is listed, but be deducted from your final payout at closing.

"What you’re buying with that price tag is peace of mind and leverage," says Naig. "For certain clients, eliminating the risk of having a contingency clause denied is absolutely priceless."

For perspective, Knock's fees are lower than most iBuyers, which charge 5% or more. However, iBuyers allow you to cut realtor commissions out of the equation. That said, you'll almost certainly get a higher price with an open market listing, even after accounting for agent fees.

Knock reviews and complaints

Source	Average Rating	Review Count
BBB	5.0/5	12
Trustpilot	4.7/5	186
Zillow	4.8/5	761
Weighted Average:	4.8/5	959

Knock’s reviews are mostly positive. The company has an average customer rating of 4.78 across 959 online reviews.

Most of the positive Knock Bridge Loan reviews say the service is easy and convenient. They praise the company’s high-quality customer service and communication, calling agents professional and knowledgeable.

Negative reviews point to hiccups in the process that delayed closing and led to missed selling opportunities. The company is good about responding to both positive and negative reviews.

✅ Fast and easy process

Satisfied customers said Knock Bridge Loans made it easy and less stressful to buy a new home before selling their old one.

✅ High-quality customer service and communication

Many reviewers noted the excellent customer service that Knock agents and loan officers provided. They said everyone was professional, polite, helpful, and responsive, adding that they were often able to get their questions answered quickly.

❌ Complicated process

Some unhappy clients said the amount of paperwork required, coupled with multiple points of contact, was overwhelming.

Knock competitors

Knock’s bridge loan is a solid option if you need cash to buy a new home before selling your old one — or if you could use some extra money to prep your house for market. But the fees can add up, and unless you can sell your house fast, you’ll have to start paying interest on the loan.  

You might want to review some alternatives before you sign up with Knock to see if you can get a better deal.

Knock vs. Clever Offers 

Clever Offers can also help you sell on your timeline by helping you explore cash offers and other sell-fast solutions providing cash upfront, plus the option to list for additional upside. 

Clever’s network includes investors and iBuyers, buy before you sell programs, and top-rated agents familiar with various cash offer products. This means you get a range of options to choose from, so you can make a more informed decision.

The service is free for home sellers. And if you decide to go with Knock, you can take advantage of lower agent commissions (about 1.5%) offered through Clever's real estate network, saving you thousands on your home sale.  

Knock vs. Homeward

Homeward has a buy-before-you-sell option that’s practically the same as Knock’s bridge loan, but it’s more expensive. Homeward charges a 3.5% program fee, while Knock’s fee is 2.25%.  

Homeward does offer more services than Knock. You can sell directly to Homeward, getting most of your home value upfront, minus a reserve used for home prep and selling costs. Homeward will then work with your realtor to put your home on the market and give you a second payout when it sells, minus service fees (~7%), realtor commissions (~6%), and carrying costs (variable). The company also has in-house mortgage and title services to streamline transactions and potentially help you save money off the program fees.

Knock vs. Opendoor

Opendoor is known for its fair offers and hassle-free home sales. As the nation’s largest iBuyer, it delivers a cash offer within 24–48 hours and pays closer to market value than other cash buyers.

You can close in as little as two weeks, which is great if you need to move quickly. But Opendoor charges a 5% service fee — more than twice what Knock charges. Knock also lets you list your home on the MLS, giving you the opportunity to sell for at or above market value.

Knock vs. Orchard

Orchard’s Move First program is a similar buy-now-pay-later option. However, you must use Orchard’s agents to sell your home, giving you less flexibility than with Knock. Orchard can also be more expensive, with service fees ranging from 1.9–7% of your home's final sale price.

And while Knock gives you six months to sell, you only get four months with Orchard. Orchard does give you a backup offer, but it doesn’t specify the amount, and reviewers have complained about the offer being low.

What are the requirements for Knock's Bridge Loan?

According to Knock, most homes will qualify for the bridge loan, including townhomes and certain condos. Ineligible properties include:

• Manufactured homes
• Mobile homes
• Multi-family properties
• Deed-restricted properties
• Homes with significant water or foundation damage
• Homes in poor condition
• Condos that are considered non-warrantable or located in an unserviceable area

In most markets, the maximum listing price is $1.5 million.[1] High-cost counties in California and Washington have a $2.5 million limit.

FAQs

Recommended Reading

Methodology 

We evaluate each buy-before-you-sell company based on five core criteria and create a weighted score:

• Customer reviews
• Service quality
• Fees and other costs
• Credibility

Customer reviews

Review analysis. We perform an in-depth analysis of all the available customer reviews to determine trends. We break down the reviews by theme and sentiment, and filter out spam reviews to determine our rating.

Company responsiveness. Negative reviews are part of doing business; however, we note whether a company is actively involved in resolving customer complaints.

Service quality

We rely on secret shopping and fact-checking interviews with company representatives to look for indicators that the company is professional, communicative, customer-focused, and ethical in its dealings with customers. We verify this information against customer reviews and interviews with past customers or professionals (realtors, former employees) who have had direct experience working with the brand. 

Fees and other costs

Competitiveness. We look at how the company's fees and other costs compare to competitors.

Value. We consider whether the fees are justified by the value offered.

Credibility

Trust signals. We look at how long the company has been in business, the number of verified customer reviews it has, how willing the company was to answer questions about their business model when we contacted them, and how easy it is to find detailed information on their website — including the names and contact details of specific team members. We also look at customer reviews indicating whether the company acts with honesty and integrity in their business dealings.