This week, the Mortgage Brothers discuss New Strict Rules for Mortgages During COVID 19. The virus is causing mortgage lending and bank guidelines to continually evolve and tighten down. Banks want to protect themselves from the risks that mortgages inherently have during times of uncertainty. Some borrowers will find it more difficult to get pre-qualified in the current climate compared to before the virus.
In this episode, we went over commonly asked questions about 15-year-fixed mortgages versus 30-year-fixed mortgages.
In this episode, we discussed forbearance verses mortgage deferment and the CARES Act. We also touch on how this might impact your credit score.
In this episode, we talked about and answered questions about cash-out refinances in our current COVID-19 market. Right now, we're still sheltering in place and we're getting a ton of calls from people about a range of topics, but a lot of them surround the issues posed by COVID-19 and whether they should do a cash-out refinance, if they should pull money out for emergency funds, and about investing.
Here we discuss 4 SBA Loans For Corona Virus Relief that are available: the Payment Protection Program, the $10K Economic Injury, Disaster Loan Emergency Advance, and SBA Express Bridge Loans. Keep in mind that 1099 Independent Contractors should be able to apply for the PPP (Payment Protection Program) loan starting April 10th 2020.