It may be harder to get a mortgage after coronavirus crisis ends, Calabria says

If you’re on the fence about purchasing a home or re-financing with cash-out (and you have good credit and a steady 2 year work history), now might be the time to act. Give me a call today at 949-456-7056 to help determine what you may qualify for.

FHFA Director predicts mortgage lending landscape will change as country recovers. From an economic standpoint, the main question surrounding the spread of the coronavirus is just how long the country will be shut down and just how much damage that shutdown will cause to the economy. One thing that is clear, however, is that the mortgage lending landscape is vastly different in early April than it was in early March. Certain segments of the business – namely government, non-QM, and jumbo loans – have dried up substantially as lenders pull back from loans that are seen as riskier than GSE loans.

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