Can I get a Loan during the Coronavirus Shut Down?

Jason Buck asks some important questions in today’s real estate market specifically; Can I get a Loan during the Coronavirus Shut Down?

Jason is practicing “stay safe” measures and had a zoom chat with Wells Fargo representative Allen Bond – NMLSR ID 486412

Yes – you can get a loan up to $3 million with 20% down.  Most of the appraisals are drive by at this time as to not enter the property. Rates are very attractive under 4%.  The re-fi market was flooded with applications and caused rates to come up a bit, however, new purchases are a priority.  Loans are still taking about a month without delay.  Specialized loans like cross collateralization may take a bit longer but this is a great way to purchase an upleg property and then sell your current residence without making a contingent offer in a hot market. Yes, homes are still selling quickly if priced well, and sometimes with multiple offers.

A lot of sellers have put their house on “hold” while waiting for everyone to get back to work. Agents are searching the hold properties looking for deals as many Buyers are still ready to go in this market.  Its an interesting and exciting time with many opportunities. If you would like more information, please contact me for a list of homes or to learn more about your qualifications.

Allen Bond   Sales Manager –  NMLSR ID 486412

310–469–8970 (Office)
500 Silver Spur Road
Rolling Hills Estates, CA 90274

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