Mortgage consultant Shane Hofmann explains changes in the lending world.
I recently sat down for a Zoom call with loan officer Shane Hofmann of Edina Realty Mortgage (whom you may recognize from some of our previous videos) to discuss interest rates, mortgage forbearance, and more.
In the wake of COVID-19, the mortgage world has been subject to daily changes, and it can be a challenge to stay updated if you’re a potential buyer or refinancer. The good news? If you need to buy a home amid this health crisis, or if you’ve had to enroll in a mortgage forbearance and are afraid it will haunt you forever, it’s not the end of the world—as Shane explains, there are still plenty of financing options available.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to skip to topics that interest you most:
1:10 — What’s happening with interest rates?
3:05 — Making sense of mortgage forbearance
4:55 — How forbearance affects your credit score
6:00 — What else is happening in this unique summer market?
7:18 — Wrapping up today’s discussion
If you have any questions, just reach out via phone or email and we’ll get you the answers you need. As always, we want to be your resource for all things real estate, and we’re more than happy to connect you with trusted lending professionals like Shane if you have financing concerns.