Your Local Michigan Mortgage Specialists

COVID-19 Impact on Your Home Purchase

We are a few months into the COVID-19 breakout and are all adjusting to a new “normal”.   Through this pandemic the Real Estate industry has continued to push forward; not experiencing a normal volume for the spring market, but none the less open for business.   The Mortgage Industry has had many changes to product availability, interest rates and overall processes.

As restrictions lift, there is a pent-up demand that has been created, bringing an even larger group of consumers into the Real Estate market at once.

What does all this mean for you?

  1. You can purchase a home during COVID-19!
  2. You must have a pre-approval that has been done within the last 60 days.  Pre-approvals that where done prior to the pandemic are no longer valid due to the many changes that the market has seen.  Pre-approvals are required for private home showings.
  3. The market is VERY competitive.  The spring and summer markets have been combined, so you need every advantage you can get.  We are seeing homes that have 15 or more offers within just a few days and many offers are over the list price.
  4. The home buying team you have behind you is more important than ever.  They can be one of your strongest advantages to get your offer accepted when competing for a home.
  5. The overall all process may take a bit longer.

 


 

Advantages You Need to Know About:

  • Your #1 Advantage is going to be Knowledge & a Strategic, Mindful, Authentic, Results-oriented, and Timely Closed Mortgage! (S.M.A.R.T. Mortgage)
  • Did you know it is possible be approved for more then one type of mortgage product?  There are many mortgage programs and there can be advantages of using different programs for different homes.
  • Down payment assistance is available for those who qualify.
  • You do not need perfect credit
  • Evaluating how a home purchase fits into your long-term financial plan is key.
  • Who you are pre-approved by can make a difference.

 


 

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