The NWM Blog
Written by Northwest Mortgage
Published on Tue, May 5, 2020, Last Updated on Sun, Nov 1, 2020
The coronavirus outbreak has rattled the economy and, with it, the real estate industry. To reduce the rates and stabilize the market, the Fed purchased mortgage-backed securities worth $183 billion. This action decreased in mortgage rates and, in return, benefitted people interested in refinancing their homes.
Refinancing Your Home during COVID-19 is Yay!
If you’re considering refinancing your home, you’re at an advantage. Call this your silver lining! You can get refinance your home at a lower rate. However, one concern may be stopping you from contacting us for refinancing – time-consuming and a lot of paperwork.
Let us assure you that with us, you’ll not face any such issue. We streamline the entire process to refinance your home, completely hassle-free.
- Reduces your monthly payment
- Helps you stay on top of your monthly payments
- In many cases, appraisals are not required
- Skips a payment
- Refinancing a Conventional Loan only requires the previous years W-2 and your most current paystub
Do You Know Who Else Can Benefit from Refinancing Their Home?
Homebuyers can take advantage of low-interest rates during this pandemic as well. According to mortgage application data, a growing number of citizens in the United States have readily started to apply for new home financing.
Whether you’re looking to refinance your home or buy a new home, you may get considerable financial relief during COVID-19. A lower interest rate means reduced monthly payments, may discover that you’ve enough equity in their house to remove your PMI payments, and can provide you with some financial stability and stress relief.
If you want to refinance your home or get new home refinancing, contact Northwest Mortgage to see how we can help you.