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Real Estate Funding Solutions: The Impact of COVID-19 On Lending

The COVID-19 pandemic has had a profound impact on real estate.


The COVID-19 pandemic has had a profound impact on real estate. And while much of that impact has been positive, the pandemic has made things tougher for consumers and investors in certain regards.

Due to the financial implications of COVID-19, many people experienced wage cuts or lost their jobs. However, the dream of purchasing a residential property is now more realistic due to a drop in mortgage interest rates a factor that has impacted the decision of homebuyers.

When asked if the pandemic played any role in the decision to become a homeowner with the help of a mortgage, 54 percent of respondents said yes as they wanted to take advantage of lower interest rates.

Source: Statista

Competition in the housing market is also driving up prices, but there appears to be a willingness to pay more since the median household income continues to rise. The BBC reports a 10 percent growth in real estate prices despite uncertain economic realities.

As the rise in homeownership continues across various markets, Real Estate Funding Solutions aims to set the precedence for how new homeowners approach purchasing their first home. As loan industry experts, they have high success rates and low-interest rates.

“It’s already hard to buy a house in the current economic climate. Buying a house has always been part of the checklist of life because it’s just the logical next step according to our understanding of life and society, says Gary Sinks, the CEO of Real Estate Funding Solutions.

“However, homes are less owned and more rented, simply because loans are exorbitant and people simply cannot afford to purchase one, plus all of the processes that goes into securing a mortgage is complicated and oftentimes hurt the credit scores of homeowners when they fail to secure a loan, not because being rejected from a loan will hurt your credit score, but when lenders try to apply for another loan, creditors will check their history and note that they’ve previously been rejected, which will make them think twice about approving the application.”

Their mortgage experts give lenders and investors the opportunity to increase their chances of getting a loan without going through the tedious or expensive process of obtaining term sheets and dealing with hidden fees. The agency values customer satisfaction and strives to make getting a loan as painless as possible, which is why they never require social security numbers from their clients, nor require them to undergo credit checks. They want to be the solution and not the problem.

 

Homebuyers and investors can contact Real Estate Funding Solutions via their website for a free consultation or term sheet. For the best value, potential clients can email their existing term sheets from prospective or current lenders to secure lower rates and close within 10 working days. They believe everyone should have a home and the ability to grow their wealth through investing in residential properties, or flipping houses. Contact them today to learn more about how you can finally settle down or start investing.

 

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Photo: Josh Wilburne, YFS Magazine, Unsplash
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